Sri Lankan banking sector is facing the risks of managing asset quality and accessing capital in the face of rapid expansion, says a new report published by Fitch on the local Banking sector.
The report also points out, enhancing risk management capabilities, implementing changes in accounting standards in line with international norms, and managing the impact [...]
February 1, 2012 12:31 PM | Posted in
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United Nations says a prolonged recession in Europe could have a significant impact on growth across South Asian economies which includes countries such as Sri Lanka, India and Pakistan etc.
The UN says, this situation could occur as European countries continue to be a key export market for the region and a main source of tourism [...]
January 19, 2012 9:59 AM | Posted in
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Sri Lanka’s main business Chamber today commended the Government’s 2012 Budget proposals, saying it maintains the consistent fiscal framework announced two years ago since the end of the war in 2009.
Issuing a statement, the Ceylon Chamber of Commerce says, the Government’s move to depreciate the Sri Lankan Rupee is a signal on moving towards a [...]
November 22, 2011 4:21 PM | Posted in
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Sri Lanka’s tea exports during the first 8 months of this year has seen a year on year growth of 4%, thus amounting for a export volume 209.8 million, compared to last years same periods 200.8 million kilograms.
In value terms Sri Lanka’s exports to end August amounted to Rs.107.1 billion as against the corresponding period [...]
October 21, 2011 8:45 AM | Posted in
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Sri Lanka will borrow 28.22 million sterling pounds from the HSBC Bank of UK and another 6.779 million sterling pounds from the People’s Bank to build 210 permanent Steel Bridges covering the entire Island.
“Construction of these bridges connecting the number of villages will greatly facilitate poor communities residing in remote areas to enhance their living [...]
October 20, 2011 2:08 PM | Posted in
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Sri Lanka expects a Balance of Payments surplus of US$ 735 millions during the year 2011 amidst a widening trade deficit.
The Deputy Governor of the Central Bank K.G.D.D. Dheerasinghe told News360.lk, “We expect a BOP surplus of US$ 735 million during this year”.
This is despite the country’s trade deficit continuing to expand.
During the first half [...]
September 6, 2011 11:57 AM | Posted in
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Sri Lanka’s first half exports during the year 2011 have risen by 35.15% to earn US$ 5.05 billion while the import expenditure have risen by 46.48% during the same period to incur a bill of US$ 9.30 billion.
Trade deficit during the period has expanded by 62.2% to stand at US$ 4.25 billion.
Meanwhile, June export earnings [...]
August 29, 2011 3:30 PM | Posted in
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Sri Lanka has relaxed a series of forex regulations in a bid to boost investor confidence, build up its reserve base and stabilize the foreign exchange market.
Under the latest forex relaxations the Central Bank of Sri Lanka will allow non-residents and foreign institutional investors to invest in Sri Lankan Unit Trusts.
It also will grant permission [...]
August 18, 2011 8:06 AM | Posted in
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Standards and Poor’s has included Sri Lanka as one country that will be affected if the downgrading of the US credit rating creates a global financial crisis as happened in the year 2008 / 2009.
Issuing a statement on Monday S&P, who last week cut the US credit rating from AAA to AA+ warned, “Those with [...]
August 8, 2011 3:39 PM | Posted in
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Sri Lanka’s export earnings during the month of May has risen by 34.31% year on year to record a sum of US$ 832 million with Textiles and Garments contributing US$ 321.8 million to the total.
Tea exports have brought in US$ 116.47 million which is a growth of 10.11% while exports of rubber products have contributed [...]
July 27, 2011 11:34 AM | Posted in
Economic Outlook |
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