Economy

Sri Lanka’s inflation hits 19.8% as Central Bank credit climbs to Rs 100 bn

November 30, 2006 (LBO) – Consumer prices in Sri Lanka shot up to 19.8 percent in November from 17.2 percent in October, the Census & Statistics …

Sri Lanka Central Bank shows first signs of ending loose monetary policy

November 30 (LBO) – Sri Lanka's Central Bank showed the first signs of ending its loose monetary policy after shunting the country into a balance of …

US Dollar falls against Euro

NEW YORK, Nov 24, 2006 (AFP) - The euro soared against the dollar Friday in volatile trading which saw the euro surpass the 1.30 dollar mark, hitting the …

Sri Lanka bombs Black Tiger base

COLOMBO, Nov 25, 2006 (AFP) - Sri Lankan war planes bombed a suspected base of Tamil Tiger suicide bombers in the island's north Saturday, the defence ministry …

Central Bank of Sri Lanka growth numbers get thumbs-up in online poll

November 18 (LBO) - An online poll shows that more LBO readers believe the economic growth numbers generated by the Central Bank of Sri Lanka than the …

Sri Lanka’s customs coffers to fill, despite tax breaks in budget

Nov 17 (LBO) – Sri Lanka Customs says it will shore up revenues to 240 billion rupees next year, despite a host of import duty waivers in the …

Sri Lanka lowers economic forecasts for 2006

November 16, 2006 (LBO) – Sri Lanka's Central Bank Thursday cut the island's next year economic growth to 7.5 percent from 8.0 percent announced earlier. …

Sri Lanka’s export earnings races ahead of import bill in Sept: Central Bank

November 15, 2006 (LBO) – Sri Lanka's trade deficit expanded 38.4 percent to 2,597 million dollars for the nine months to September, over the same period …

IMF bowls a few googlies on Sri Lanka’s economic scorecard

November 14, 2006 (LBO) – The International Monetary Fund Tuesday says Sri Lanka's economy in under siege from galloping inflation, a wider current …

Energy pricing helps but better monetary policy and fiscal framework needed in Sri Lanka

Sri Lanka’s is now experiencing stronger growth, and declining unemployment. Though oil prices are now falling, expansionary fiscal policy and …

Central Bank explains recent policy measures to Sri Lanka’s financial community

November 02, 2006 (LBO) - Sri Lanka’s central bank met senior executives of the country’s financial community this week, in a bid to de-mystify …

Sri Lanka’s inflation hits 17.2% in October, despite falling oil prices

October 31, 2006 (LBO) – Consumer prices in Sri Lanka bounced up to 17.2 percent in October from 15.4 percent in September, the Census & Statistics Dept …

Belgium businessmen hunt in Sri Lanka for investment opportunities

Oct 25, 2006 (LBO) – A group of Belgian investors began a three-day visit in Colombo, scouting for potential investment opportunities to grow trade …

Sri Lanka slaps limits on non-essential imports to curb credit growth

October 20, 2006 (LBO) – Sri Lanka has imposed fresh restrictions to limit imports of 44 non-essential items like electrical goods, chocolates, palm oil …

ADB warns violence could disrupt Sri Lanka’s economic growth

October 19, 2006 (LBO) – Sri Lanka's economy is expanding at a blistering pace led by the telecommunications sector, but an escalation in violence could …

Sri Lanka raises US$ 340 mn in foreign investments: BOI

October 18, 2006 (LBO) – Sri Lanka has managed to attract just over 340 million dollars in foreign investments for the eight months to July, the Board of …

Malaysia leads investment flows into Sri Lanka for second year, Asia in investment boom

Oct 18 (LBO) – Malaysia will lead foreign investment into Sri Lanka for the second year running led by telecoms and infrastructure, as developing …

Sri Lanka’s central bank governor recruits more assistants

October 16, 2006 (LBO) – Sri Lanka's Central Bank has promoted four senior staff officers to the post of Assistant Governor from Oct. 11, the bank said …

Sri Lanka’s trade deficit expands 52.4%; worker remittances top US$1.5bn

October 11, 2006 (LBO) – Sri Lanka's trade deficit expanded 52.4 percent to 2,400 million dollars for the eight months to August, compared with the same …

Sri Lanka logs 8.0% growth Jan-Sept: Treasury Secretary

October 3, 2006 (LBO) – Sri Lanka's economy has beaten most forecasts to lodge a 'near' 8.0 percent growth for the first nine months, the secretary of …