Sri Lanka’s Central Bank says the current developments taking place in the Forex market, which dealers describe as “volatile” is only a temporary development.
The Bank says the recent depreciation of the Sri Lankan rupee seems to be a reaction of forex dealers, which it says are adjusting to the more vibrant market driven policy framework [...]
February 15, 2012 2:32 PM | Posted in
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United States says it is premature to talk about providing any kind of exemption to Sri Lanka to buy oil from Iran, despite the US sanctions on Iranian oil imports.
US Assistant Secretary of State for South and Central Asian Affairs, Robert O Blake made this point when he addressed the media in Colombo yesterday.
During the [...]
February 15, 2012 2:32 PM | Posted in
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Sri Lanka raised the prices of Petrol, Diesel and Kerosene with effect from midnight yesterday.
Accordingly, a liter of 90 Octane Petrol has been raised by Rs. 12 to be sold at Rs. 149 a liter.
A liter of 95 Octane Petrol has been raised by Rs. 12 to be sold at Rs. 167 a liter.
A Diesel [...]
February 15, 2012 2:32 PM | Posted in
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Sri Lankan Government’s total outstanding debt by end November 2011 has risen to Rs 5,155.3 billion compared to Rs.4.537.2 billions, remained a year ago.
Out of the total debts remained as at November 2011, the Government has borrowed Rs. 2,825.8 billion from the domestic market.
This is an increase compared to Rs. 2,548.3 billion remained by end [...]
February 15, 2012 2:32 PM | Posted in
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Sri Lanka’s Central Bank today allowed the market to decide the exchange rate in order to curtail imports and preserve foreign reserves.
A Central Bank official speaking to News360.lk said “We will take care of part of the oil bill and the rest is up to the market”
Following the announcement, the dollar which was trading at [...]
February 15, 2012 2:32 PM | Posted in
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Sri Lanka’s Fast Moving Consumer Goods market has seen a rapid growth over the years, says a new equity research report.
The report says this has created fierce competition among manufactures, who are trying to provide quality products at a normal price range for the local consumers.
The report compiled by Bartleet Religare Securities also says, according [...]
February 15, 2012 2:32 PM | Posted in
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(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 15, 2012 2:32 PM | Posted in
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(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 15, 2012 2:32 PM | Posted in
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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 15, 2012 2:32 PM | Posted in
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(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 15, 2012 2:32 PM | Posted in
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