Sri Lanka’s Central Bank denies selling Gold in the domestic market.
Issuing a statement the Bank said, certain media reports published recently which said Central Bank is selling gold in the domestic market are baseless and mislead the public.
The Central Bank announced today, that it manages the official international reserves of the country and maintains its [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka today kept its key policy rates unchanged for the month of June taking into consideration the latest development in the economy including the easing of pressure on inflation which the Central Bank says is a result of declining food prices in the domestic market.
Accordingly, the Repurchase rate and the Reverse Repurchase rate will [...]
June 14, 2011 6:36 PM | Posted in
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By. Prasanna C. Rodrigo
A team from Fitch Ratings will arrive in the country today to conduct analysis on the local economy as a part of its latest rating review on Sri Lanka.
Superintendent of the Public Debt Department S. Rathnayake said, “They will be here from Monday to conduct analysis on the local economy”.
According to him, [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka will sell US$ 100 million worth of Sri Lanka Development Bonds starting from Monday.
Accordingly, US$ 50 million worth bonds will be offered on a 3 year tenor while another US$ 50 million will be offered on a 4 year tenor.
The interest rate of the offer would be 6 month LIBOR for US$ + [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka’s North and East will see the establishment of six garment factories within the next one year’s period with an investment of US$ 40 million.
Brandix, Mas Active, Omega Line, Timex Garments, Ferguson and Orit Apparel who are already operating in the country, will each establish a factory in the North and East.
“At present, these [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka has realized US$ 236 million worth of foreign direct investments during the 1st quarter of this year, the highest ever FDI to be achieved during a quarter.
BOI says US$ 132 million worth of investments which came into the rebounding local tourism sector primarily helped the cause.
The Chairman/Director General of the BOI, Mr. Jayamapathi [...]
June 14, 2011 6:36 PM | Posted in
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Minister of Industry and Commerce Rishad Bathiudeen emphasizes the importance of modernizing the local SME sector to meet the present day requirements.
This statement was further endorsed by Dr. Thusitha Tennakoon, the Secretary General of the FCCISL who revealed that the local SME industries are handicapped by lack of knowledge and inability to innovate.
He added that [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka’s Inflation during the month of May has risen by 8.8%, but has seen a slowdown compared to 9.8% recorded during April.
However this is a high figure compared to 5.3% recorded during May 2010.
The annual average inflation too has moved up to 6.9% in May compared to 6.6% remained during the month of April.
Central [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka, for the first time in its trade history has seen its monthly export earnings surpassing the US$ 1 billion mark during March this year, thus recording an earning of US$ 1.05 billion.
This also marks a 59.5% growth in export earnings year on year reflecting an increase in all major categories of exports.
Agricultural exports [...]
June 14, 2011 6:36 PM | Posted in
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Sri Lanka says its once war ravaged Northern Province is showing good economic progress with the number of motor vehicle usage, telephone usage, land amount cultivated etc showing a massive increase, following the end of the War.
According to the Central Bank, Northern province has seen its paddy cultivated lands going up to 67,003 hectares during [...]
June 14, 2011 6:36 PM | Posted in
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