(News360.lk) Sri Lanka along with its latest rate hike also has imposed a ceiling on the disbursement of credit by Commercial banks during the year 2012 in a bid to keep a tab on the credit growth in the economy.
The directive request the Commercial banks to take steps to ensure that their overall credit growth [...]
February 3, 2012 10:14 AM | Posted in
Economy |
Read More »
(News360.lk) Sri Lanka has decided to increase its key policy rates by 50 basis points each, focusing on curtailing import related credit to help reduce the widening trade deficit and the current account deficit.
The Central Bank of Sri Lanka says this move will also help ensure that the inflation remains at mid-single digit levels in [...]
February 3, 2012 8:50 AM | Posted in
Economy |
Read More »
Sri Lanka’s weekly tea auction has seen small leaf teas fetching low prices and the highly priced tippy varieties going unsold, as Iran, the main buyer of those teas is struggling to access foreign exchange.
“This could be attributed to Iran’s lack of access to foreign exchange and other sanction measures”, added John Keells tea brokers [...]
February 2, 2012 1:50 PM | Posted in
Economy,
Featured |
Read More »
(News360.lk) Sri Lanka’s Small and Medium Scale Enterprises are using pawning as a preferred source of raising funds, specially the ones engaged in the areas of agriculture and fisheries sectors, says a new equity research report.
Bartleet Religare Securities, in its latest equity research report says, ease of availability, quick approval and the ability to obtain [...]
February 2, 2012 8:49 AM | Posted in
Economy,
Featured |
Read More »
Sri Lankan President Mahinda Rajapaksa says the Island should cut down its annual milk powder import bill by increasing local fresh milk production.
According to Rajapaksa, Sri Lanka spends around US$ 400 million per annum to import milk powder to the country thus losing valuable foreign reserves.
He says, by cutting down on the import bill of [...]
February 1, 2012 3:42 PM | Posted in
Economy,
Featured |
Read More »
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
Economic Outlook,
Economy |
Read More »
(News360.lk) Sri Lankan President Mahinda Rajapaksa has said that the United States and the West by imposing economic embargo’s on Iran is not punishing the Middle Eastern country, but small nations such as Sri Lanka.
Rajapaksa who has met with a group of foreign correspondents based in Sri Lanka this morning has also disclosed that his [...]
January 31, 2012 5:38 PM | Posted in
Economy |
Read More »
Sri Lanka’s January inflation has risen by 3.8%, compared to a high of 6.2% recorded, a year ago.
This is also low compared to the 4.9% recorded during the month of December.
January inflation of 3.8% is the lowest monthly inflationary figure recorded during the last 25 months.
Annual average inflation by end January stood at 6.5%, marginally [...]
January 31, 2012 4:40 PM | Posted in
Economy |
Read More »
By: Prasanna C. Rodrigo
( News360.lk ) Sri Lanka says it is likely that they will not withdraw the remaining US$ 800 million of the US$ 2.6 billion loan arrangement it has got from the IMF.
Central Bank Governor Ajith Nivard Cabraal speaking to News360.lk said, “It is likely that we may not request the rest of [...]
January 30, 2012 1:41 PM | Posted in
Economy |
Read More »
Fitch Ratings Lanka says, that its Outlook for the majority of the Sri Lankan banks is stable.
This is underpinned by the improved earnings prospects for the Banks due to post war growth experienced by the local economy and the government’s capacity to support the banking system.
However, Fitch points out that the rapid loan growth will [...]
January 27, 2012 4:23 PM | Posted in
Economy |
Read More »
