CBSL to establish permanent single-digit interest rate structure in economy
Jan 04, 2021 (LBO) – Capitalising on the achievement of 12-years of single-digit inflation, the Central Bank intends to establish a permanent single digit …
Economy
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Central Bank Road Map for 2021 to be announced next Monday
Dec 28, 2020 (LBO) – The Road Map: Monetary and Financial Sector Policies for 2021 and Beyond will be announced by the Governor of the Central Bank on …
Exports in November drop 11.8-pct from October amidst second wave of Covid
Dec 24, 2020 (LBO) – Export earnings in November 2020 amounted to US$ 748.58 Mn, which was 20.97% lower than November 2019 and 11.84% lower than October …
Government implements incentive scheme to pay Rs.2 per USD for worker remittances
Dec 21, 2020 (LBO) – The Government in recognition of the role of Sri Lankan’s employed overseas and their contribution to the economy amidst, the …
Foreign Minister underscores importance of economic partnership with Indonesia
Ambassador of Indonesia in Colombo I. Gusti Ngurah Ardiyasa paid a courtesy call on Foreign Minister Dinesh Gunawardena at the Foreign Ministry recently. …
Supplementary festival credit facility for employees in public and pvt sector
President has directed to provide a Supplementary Festival Credit facility to all interested employees in the public and private sector as well as Samurdhi …
Sri Lanka’s economy contracts by 16.3-pct in 2Q 2020; grows 1.5-pct in 3Q
Dec 16, 2020 (LBO) – Sri Lanka has recorded a 1.5 percent of economic growth rate for the third quarter of 2020 and a negative 16.3 percent of economic …
Newly appointed EDB Chairman Suresh de Mel assumes duties
Dec 14, 2020 (LBO) – Suresh de Mel, a well-known entrepreneur, assumed duties as the new Chairman of the Sri Lanka Export Development Board (EDB). He …
Rating downgrade by S&P simply demonstrates the prejudicial approach: Finance Ministry
Dec 11, 2020 (LBO) – Sri Lanka's Finance Ministry says that it is premature for S&P to announce a rating downgrade when the well-articulated policy …
President discusses long-term economic recovery with private sector
Dec 11, 2020 (LBO) – President Gotabaya Rajapaksa says that his objective is to bring about a balanced growth in all sectors of the economy and suggested to …
United States launches project to help small businesses; increase women’s participation
Dec 10, 2020 (LBO) – The United States launched a new LKR 3.6 billion (USD 19.5million) initiative to help small businesses and economically empower Sri …
Sri Lanka Economic Summit 2020: Positive outlook on post-COVID-19 economic recovery
Top economists and business leaders discussed the outlook for the global and local economy during the first session of the Sri Lanka Economic Summit 2020 …
World Bank says SL’s high-level of informal employment a concern
Dec 07, 2020 (LBO) - Around 70 percent of Sri Lanka's workforce are informally employed and there are generally three reasons to be concerned about high …
Private sector an equal partner in economic revival: Dr. Hans Wijayasuriya
Dec 02, 2020 (LBO) - Chairman of the Ceylon Chamber of Commerce has called on the private sector to be an equal partner in securing an accelerated economic …
Sri Lanka extends validity period to open Special Deposit Accounts; permission to retain funds
Dec 01, 2020 (LBO) – The government has decided to extend the validity period of opening Special Deposit Accounts (SDAs) up to 07 April 2021 on the …
Govt is bringing in new laws to fully protect investments: President at SL Economic Summit
Dec 01, 2020 (LBO) – Sri Lanka's government is bringing in new laws to fully protect investments in order to attract more Foreign Direct Investment and …
We will no longer take loans for projects, says Cabinet Spokesman
Dec 01, 2020 (LBO) – Sri Lanka's government has decided not to take loans for projects, Cabinet Spokesman Keheliya Rambukwella said. Speaking at the weekly …
Sri Lanka to extend restriction order on forex outflows by 6 months
Dec 01, 2020 (LBO) – Sri Lanka's cabinet of ministers has decided to extend the validity period of the order issued under the Foreign Exchange Act regarding …
Sustainable blue-economy is future of Bay of Bengal region
Addressing a special BIMSTEC public event held on 20- 21 November 2020 in Bangkok, Sri Lanka’s Ambassador to Thailand Samantha K. Jayasuriya said that Sri …
Fitch downgrades Sri Lanka to ‘CCC’, rating based on uncorroborated facts, says Finance Ministry
Nov 27, 2020 (LBO) – Fitch Ratings has downgraded Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC'. Fitch typically does not …