According to the Sri Lankan Purchasing Managers Index (PMI) published by the Central Bank's Statistics Department on Thursday, both manufacturing and service industries continued to expand last month after the terrorist attacks of April 21. Manufacturing operations continued to expand at a greater pace in July 2019, recording an index value of 55.7,
Pan Asia Bank, with its island-wide network of 85 branches, has been working closely with the agriculture sector in recognition of the significant contribution made by this community, which is engaged in agriculture and related businesses, to the growth of the country’s economy.
Rehan Lakhany, Chairman of the Sri Lankan Apparel Exporters Association, said key stakeholders in the Sri Lankan apparel industry are in discussions with the government to create a specialized manufacturing area in the apparel industry.
In the first half of this year Sri Lanka's exports rose 11.4 percent, at $8.4 billion, compared with the corresponding $7.5 billion of last year's era.
Sri Lankan Laugfs Gas is now entering into discussions with strategic investors to make an investment in its energizing and leisure businesses from a domestic cooking gas supplier to regional traders and hotels, President W.K.H. Wegapitiya said.
The Group's resilience and uncompromising atmosphere represent the 14 percent development in revenues, with a turnover of Rs. 75 billion per capita in the year and a moderating economy development combining acquisitions and company development, "said Chairman / General of the Softlogic Group Ashok Pathirage.
Governor of Central Bank Dr. Indrajith Coomaraswamy said the macro-economic fundamentals of the country were in a pretty good form yesterday, with growth for the fourth quarter favored. "We raised enough funding too, almost by the middle of next year, to fulfill our commitments," he said.
The central bank of Sri Lanka supported overnight prices at around twenty basis points above its policy level, which on 31 May fell 50 basis points and, from the last policy conference, official information showed that the de facto target rate had dropped to a further eighty-one basis points.
The Minister stated that a total of 84 suggestions had been submitted, with only 16 being enacted. Samaraweera said that today's world concentrates more on global warming, environmental conservation, wildlife protection, reforestation of forests, reduction of emissions and, in particular, polyethylene and plastic dumping.
Premier Ranil Wickremesinghe of Sri Lanka said that he is fighting in court for anti-freeholders to give titles to peasants and others who, through multiple programs, are granted less certain land rights from the state. Wickremesinghe was cited at a lecture in Ampara as stating "There are some groups that oppose the privileges of the freehold through court actions.
Sri Lanka's rupee opened up to the US dollar softer on the ground on Friday at 176.15/21, while bond returns decreased and shares opened up 0.5% higher.
Although the general government revenue of Sri Lanka dropped in the first quarter of 2019 as imports slowed down, with a fresh internet collection scheme and better enforcement, income tax profits were noticeably greater, the Treasury said.
In the first four months of 2019, the Sri Lankan Ports Authority, which operates the island's merchant shipping harbors, produced a profit of 10.5 billion rupees, the finance ministry said, as cargo volumes rose sharply.
Sri Lankan tea exports totaled 26.6 M / kgs for the month of May 2019, demonstrating an increase of 3.5 M / kgs compared to 23.07 M / kgs for May 2018.
The government is making an effort to provide necessary legal or infrastructure support to develop the freelancing community as well as the startup culture in Sri Lanka,
In a recent discussion with the KPMG team, Central Bank Governor Dr. Indrajit Coomaraswamy affirmed that if Sri Lanka continues on this favorable route,
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100)1 dropped from 3.6% in April 2019 to 3.5% in May 2019
The Digital Social Impact Awards launched e-Swabhimani calling for apps for 2019. E-Swabhimani is now in the process of acknowledging digital applications/solutions that have a favorable social impact, in line with the government's policy on digitizing the economy.
YoY inflation as measured by CCPI is 5 percent in May 2019 and 4.5 percent in April 2019.
Central Bank Governor, Dr. Indrajit Coomaraswamy yesterday said, Sri Lanka should maintain tight financial discipline over the next few years to strengthen the country’s financial situation and take the country forward as the Easter Sunday bomb attacks have already taken its toll on the economy. However, he said but Sri Lanka has been able to manage the negative impact in the aftermath of the attacks.
The Auditor General had examined the expenses of the CWG Hambantota 2018 (Pvt.) Ltd from November 23, 2010, to May 31, 2013, its initial share capital, financial donations to it, its financial statements and legal matters in relation to its liquidation.
Sri Lankan apparel manufacturer, Hela Clothing Group, announced it has completed the balance raise of $3.6 million from its Series A funding round bringing the total equity raised to $10 million,
Central Bank Governor Dr. Indrajit Coomaraswamy said Sri Lanka's goal is to raise another $ 2 billion ahead of a presidential election in December.
Sri Lanka's nationwide inflation in April 2019 determined under the National Consumer Price Index (NCPI) rose to 3.6 percent from 2.9 percent recorded in March on a year-on-year basis, the Department of Census and Statistics reported Tuesday
Sri Lankan ICT, BPM delegation at Japan IT Week expects to attract USD 1 mn worth of business by end of 2019.
From 8 billion in 2017, the total foreign grants received by Sri Lanka from multilateral and bilateral sources increased drastically to 12.5 billion in 2018.
On the 10th of April 2019, the Central Bank of Sri Lanka Launched the Roadmap for Sustainable Finance in Sri Lanka at the Sustainable Banking Network Global Meeting
Resulting in an increase of 1.5% in the interest rate on International Sovereign Bonds (ISBs), the forming of a 52-day illegitimate Government has amounted a loss of Rs. 6.4 Billion in the recent issue of ISBs, Finance Minister, Mangala Samaraweera said yesterday.
Mangala Samaraweera, Finance and Media Minister reported that the government is looking forward to and focusing on rebuilding and re-positioning the island with three major economic policy priorities; namely,
The state administration has taken up the challenge of re-rooting the path of the major economic indicators of the country, Eran Wickramaratne, State Minister for Finance and Media said the 60th AGM of the National Chamber of Commerce of Sri Lanka recently.
Sri Lanka will maintain economic growth of around 3.75% in 2019, said Central Bank Governor Dr. Indrajit Coomaraswamy at the Sri Lanka Economic Association (SLEA) annual session held in Colombo last Friday.