Economy & Markets

Sri Lanka to use local messaging system for government debt deals

January 11, 2007 (LBO) - Primary dealers have welcomed a Central Bank decision to use a locally developed messaging system to transact small deals in the …

Sri Lanka exports recover in November

January 10, 2006 (LBO) - Sri Lanka earned more from exports in November pushing cumulative export growth for the year to 8 percent from 6. online pharmacy buy …

Sri Lanka gets French aid for satellite mapping of tsunami hit areas

Jan 10, 2007 (LBO) - Sri Lanka’s Urban Development Authority has sought nearly 85 million dollars in French aid for a town planning system in tsunami hit …

State-run Bank of Ceylon to raise US$ 100 mn syndicated loan

January 8, 2007 (LBO) - Sri Lanka’s state-run Bank of Ceylon plans to tap the international capital markets early this year to raise 100 million dollars …

Central Bank of Sri Lanka to limit money printing in 2007: calls for fiscal prudence to stabilize economy

January 04, (LBO) – Sri Lanka's Central Bank has set itself tight targets to limit money printing, contain runaway inflation and stabilize the economy in …

Fitch gives A+(lka) for Sampath Bank debentures

January 4, 2007 (LBO) - Sri Lanka's Sampath Bank Thursday secured a A+(lka) rating from Fitch Ratings Lanka for its upcoming four year 300 million rupee …

Sri Lanka to withdraw ‘exchange control’ measure in March

January 03, 2007 (LBO) – Sri Lanka will withdraw from March 31, a controversial cash deposit requirement aimed at limiting imports, which drew censure …

Sri Lanka notches up US$ 600 mn foreign investment in 2006

January 01, 2007 (LBO) – Sri Lanka has notched up a record 600 million dollars in foreign direct investment last year, government said Monday, led by …

Sri Lanka consumer prices rise by 2.3% in December keeping 12-month inflation at 19.3%

December 29, 2006 (LBO) – Consumer prices in Sri Lanka rose by 2.3 percent in December, keeping 12-month inflation at 19.3 percent, the Census & …

Sri Lanka 3Q06 GDP 7.5%, says Central Bank while cutting full-year growth to 7%

December 29, 2006 (LBO) – Sri Lanka's economy grew 7.5 percent in the third quarter ended Sept. 30, the central bank said Friday, while lowering …

Central Bank of Sri Lanka says more monetary tightening needed as inflation rages

December 29 (LBO) – Sri Lanka's central bank said further monetary tightening was needed to contain inflation as consumer prices in December went up by …

Central Bank of Sri Lanka tightens cash facility to banks from Jan 01

Dec 26, (LBO) - The Central Bank of Sri Lanka has restricted the use of its cash facility to the banking system, from January 01, in a further attempt to …

Foreign banks lend dollars to Sri Lanka govt. at lower rates than locals

December 26, (LBO) - Sri Lanka has raised 100 million dollar syndicated loan from the international banks at a lower rate than previous dollar bond issues in …

UN slams Sri Lanka’s warring parties on tsunami anniversary

Dec 26, 2006 (AFP) - The United Nations slammed Sri Lanka's warring parties for stalling tsunami reconstruction efforts Tuesday as the island marked the second …

Japan gives loudhailers to mark Sri Lanka tsunami anniversary

Dec 26, 2006 (AFP) - Japan Tuesday gifted loudhailers and life jackets to Sri Lanka's police to mark the second anniversary of the tsunami which killed 31,000 …

International Monetary Fund to wind up operations in Sri Lanka in Jan ’07

December 23, 2006 (LBO) – The International Monetary Fund will close its office in Sri Lanka from mid next month, the global financial watchdog said …

IMF asks Sri Lanka to pay close attention on economic reforms, amidst high inflation

December 22, 2006 (LBO) – The International Monetary Fund Friday asked Sri Lanka to go slow on hiring public servants and pay more attention to reduce …

Sri Lanka free floating’ tag ripped by IMF

December 22 (LBO) – Sri Lanka's exchange rate regime has been re-classified to a managed float from free float after violating International Monetary …

Sri Lanka’s rich western province leads economic growth again in 2005

December 21 (LBO) – Sri Lanka’s rich western province has led the list again of top contributors to the island’s economic growth last year, …

S&P affirms Sri Lanka’s B+ rating; negative outlook remains on war fears

December 21, 2006 (LBO) - International rating agency Standard & Poor’s Thursday retained Sri Lanka's B+ rating, but warned the island needs to make …