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Importers secure increase in age limit for cars and commercial vehicles; higher duty to stay President Mahinda Rajapaksa yesterday stepped up the accelerator for re-conditioned vehicles agreeing to revise the recently imposed age limit rules at a meeting with importers. Responding to pleas by motorists as well as Vehicle Importers Association, the President has agreed ...
- Reconditioned vehicle import rule reversed (Category: Breaking News)
- Restrictions on reconditioned vehicle imports relaxed (Category: Breaking News)
- Vehicle Importers Lament Tax Increase (Category: Breaking News)
ASIA’S rapid growth is leaving millions behind, causing a widening gap between rich and poor that threatens to undermine the region’s stability, according to a new report from the Asian Development Bank (ADB). The report points out that as many as 240 million more people could have been lifted out of poverty in the last ...
- Challenging times for Asia Pacific (Category: Business)
- Dentsu Public Relations remains highest-earning Asia-based PR firm: Holmes report (Category: Business)
- Asia’s increasing rich-poor divide undermining growth, stability – ADB Report (Category: Business)
- ADB assistance to developing Asia tops $ 21.7 b in 2011 (Category: Business)
Reuters: Sri Lanka will face a challenge in meeting this year’s budget deficit target as the recent monetary and fiscal tightening measures may hurt revenue growth, the island nation’s central bank chief told Reuters on Monday. The $59 billion economy has agreed with the International Monetary Fund (IMF) to target a budget deficit of 6.2 ...
- Financing of 2011 Budget goes haywire (Category: Business)
- CB says 2012 trade gap to narrow by 10% (Category: Business)
- Sri Lanka to cut growth to 7-7.5% (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
Times of India: CHENNAI: The Madras high court on Wednesday reserved orders on petitions seeking lof ifting the ban on LTTE in India. The MDMK leader Vaiko, who had moved the high court against the ban, told newspersons later even though the statue of Mahatma Gandhi had been vandalized and desecrated in Sri Lanka, the ...
- Madras HC reserves orders on petitions seeking lifting of ban on LTTE in India (Category: Breaking News)
- The Indian judiciary rejects a call to lift LTTE ban (Category: Breaking News)
- LTTE a threat to several States – India (Category: Breaking News)
- Sri Lanka: Indias reasons for banning LTTE false, fabricated: Vaiko tells Tribunal (Category: Breaking News)
With ending of the Maha season paddy harvesting, newspapers and TV have been highlighting problems encountered by farmers in disposing of their harvest. Due excellent weather, free from drought, flood and disease, farmers have received a bumper crop but the problem is to convert the harvest into cash, in order to settle debts incurred in ...
- ‘Fodder’ for thought (Category: Breaking News)
- Govt. all hat no cattle (Category: Breaking News)
- The drought, Mahaveli waters and the farmer (Category: Business)
- Drought and lessons learned (Category: Business)
Broking firm Arrenga Capital Ltd., has come up with an analysis on the outlook for Sri Lankan economy capturing some of recent developments and their implications. Here are excerpts Economic Summary: Delayed decision to curb excessive credit growth Sri Lanka’s excessive credit growth experienced in the 2H2011 coupled unsustainable rupee peg was leading the country ...
- Value investors enter as speculators exit (Category: Business)
- CB fixes problem its way (Category: Business)
- Rupee Makes Pyrrhic Gains On Negative Trade Data (Category: Breaking News)
- ‘Rupee Volatility – In Search of Equilibrium’ (Category: Business)
Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...
- Inflation to continue (Category: Breaking News)
- CB says policy rates appropriate (Category: Business)
- Rupee to recover in 6 to 8 weeks – Nivard tells in Qatar (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
The Government has revised upward import tariffs and excise duties intensely for all motor vehicles and spare parts except on agricultural tractors, buses, lorries and trucks with effect from 31 March 2012. According to the Government, the current upward revision was effected to achieve the objective of controlling the sharp increase of import bills and ...
- President revs up reconditioned vehicles (Category: Business)
- Taxes increased on cigarettes, liquor and several types of vehicles (Category: Breaking News)
- Motor vehicle industry in Sri Lanka facing mass exodus (Category: Breaking News)
- CMTA wants vehicles tax hike revoked; duty free permits suspended (Category: Business)
UNP MP Dr. Harsha de Silva yesterday charged that the Government and the Central Bank seriously lacked credibility, whilst the people were being taken for a ride with falsehood. He alleged that a few months ago the Government, especially the Central Bank, was hoodwinking the masses saying the economy was robust and fiscal and monetary ...
- UNP warns of higher taxes (Category: Business)
- EPF 2010 Annual Report makes it to P’ment (Category: Business)
- More losses by gambling public money alleges Harsha (Category: Business)
COLOMBO (Reuters): Sri Lanka’s central bank will have room to raise interest rates by at least another 50 basis points if April trade and inflation data show signs of stabilizing, the treasury secretary said on Wednesday. “Since we have already raised policy rates by half a percent (in February), maybe another 50 basis points upward ...
- Drought may cut growth to 6.7% (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- CB may take act on high credit growth (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
$ 427 m released to boost reserves bringing total to $ 2.13 b under $ 2.6 b SBA; balance likely in mid-July Emphasises Govt. has taken several positive measures to stem current account deficit, reserve loss and bolster fiscal performance Says recent tax hike on vehicles “unexpected” but shows Govt.’s seriousness in dealing with Balance ...
- Lanka growth to dip below 7.5% – IMF (Category: Business)
- No timing yet for Sri Lanka review prior to next loan disbursal: IMF (Category: Business)
- Devaluation a “right step,” says IMF (Category: Business)
- SBA over, Govt. looks to EFF from IMF (Category: Business)
Sri Lanka is to get a $ 400 million lifeline following what is anticipated as a favourable decision on the part of the International Monetary Fund (IMF). The IMF Board was scheduled to meet Monday evening Washington Time, and its Resident Representative Koshy Mathai is scheduled to hold a briefing today in Colombo at 2.00 ...
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
- IMF mission due June 4, SL to receive $400 mln balance (Category: Breaking News)
- IPO To Raise Rs. 400 mn (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
IPS: Most things in Sri Lanka are becoming expensive these days. In early February fuel prices were increased by margins ranging from eight to 49 per cent, with the all-important diesel, used widely in commercial transport and power generation, going up by 36 per cent. The Sri Lankan rupee that was trading at 107 rupees ...
- Thai rice plan could hit global market (Category: Business)
- Catching itself young (Category: Business)
- Road signs indicate better times (Category: Business)
- When the rains don’t fall (Category: Business)
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- The Economic Impact of Exchange Controls (Category: Business)
- Living with debts (Category: Business)
- Strategies on reducing or getting out of foreign debt (Category: Business)
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
- Tackling tea travails (Category: Business)
- Planters’ Association Chief says turbulent times for tea (Category: Business)
- Sector report (Category: Business)
- Tea Industry Divided Over Importing Tea For Blending (Category: Breaking News)
NDB‘s contribution to infrastructure development has been substantial during the last three decades. Having garnered the experience and expertise to cater towards the development process in Sri Lanka, NDB continues to focus on this vital component providing the necessary support that will help towards economic development in the country. NDB CEO Russell de Mel says, ...
- DFCC: Changing the sustainable energy landscape in Sri Lanka (Category: Business)
- DEG provides $ 21 m loan to NDB Bank to strengthen SME sector (Category: Business)
- Nestlé Lanka crowned as ‘Best Corporate Citizen’ (Category: Business)
- Sri Lanka’s energy sector at risk: Calls for diversification amidst Chinese investments (Category: Breaking News)
Says reserves depletion has been arrested Expects US Dollar exchange rate to settle down to below Rs. 125 Emphasises correction in rupee’s value after 'external shock' is positive all round with considerable savings and boost for local producers Claims future of IMF support is not a major concern but will be a bonus Likens affordable ...
- Message clear: Market must move up (Category: Business)
- Devaluation divide (Category: Business)
- 6.2% budget deficit will be met (Category: Business)
- Growth amid challenges (Category: Business)
The STING Corporate Accountability Index is an independently researched analysis of the standing of corporate Sri Lanka against a model of responsible business practices. It is published in order to encourage more companies to adopt a holistic system of corporate responsibility. The adoption of such a system and making this the usual way of operating, ...
- John Keells Hotels win Gold Award for Corporate Accountability (Category: Business)
- Disposing of electronic waste: A social responsibility calendar must (Category: Business)
- Corporate social responsibility and sustainability practices (Category: Business)
- SAFA-CMA Management Accounting Summit 2012 (Category: Business)
The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...
- Rupee hits new low despite inflows (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
- Markets becalmed (Category: Business)
- Rupee weakens on importer dollar demand (Category: Business)
Loss-making State-owned enterprises are nothing new in Sri Lanka. One of the better known ones is SriLankan Airlines, which was given to Emirates due to its inability to breakeven but was retaken by the present Government. Pros and cons of this move is history but cash-strapped and a midst losses, it appears that the Government ...
- Sri Lankan fully national (Category: Business)
- Economy Exercise (Category: Business)
- Social Media (Category: Business)
- New Wings (Category: Business)
High cost of living and festive seasons go hand in hand and the upcoming New Year looks set to becoming a particularly difficult one. With the Central Bank downgrading the economic forecast from eight per cent to 7.2 per cent and a rapidly depreciating rupee adding to increasing imports, the month of April, when consumerism ...
- Former Mississippi Gov. William F. Winter dies at 97 (Category: USA, Mississippi)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Nebraska)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maryland)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maine)
Says that economic growth still among the highest in the world, insists that external events will not affect trade By Uditha Jayasinghe As the rupee hit an all-time low, Economic Development Minister Basil Rajapaksa yesterday strived to bolster confidence in the economy terming the trade deficit the country’s “only problem”. With the rupee at an ...
- UNP draws guns on “military control” of Rupee (Category: Business)
- Trade deficit dips to 16-month low in June (Category: Business)
- Dr. Nicholas advises Lanka against swallowing IMF dope (Category: Breaking News)
- SLEA to release book on ‘Achieving Economic Goals in the midst of Global challenges’ (Category: Business)
By Cheranka Mendis Despite the Central Bank’s forecast reading 7.2% growth for 2012, RAM Ratings Lanka CEO Adrian Perera is confident that the country can touch the 7.5%-7.6% mark by the end of the year. Perera told the Daily FT that the new projection is a realistic number from the 8% noted at the beginning ...
- RAM Ratings moves into new office (Category: Business)
- CA Sri Lanka Annual Report Awards powered by RAM Ratings (Category: Business)
- LB Finance rating rises to A-/P2, heralding a stable outlook (Category: Business)
- RAM Lanka sponsors ICASL Annual Reports Award Ceremony (Category: Business)
CONCERN over the controversial Channel 4 documentary has reached a fever pitch. In fact it is so high that it is causing some politicians to talk deliriously and call for local consumers to boycott US products such as Pepsi and Coca Cola or return to the days of snail mail by forgoing Gmail. Even though ...
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
Preamble State ownership of public utilities dates back to the colonial period. The early post-independent years saw the State establish public enterprises that were involved in the production and distribution of key goods and services. The share of State ownership in the economy expanded steadily and gathered momentum in the 1970s when Government policy, in ...
- CPC implications (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Fuel a price change (Category: Business)
- Commendable start; now for the finish (Category: Business)
Broking firm DNH Financial Ltd. is stressing that with interest rates on the rise, stock selectivity becomes even more vital for investors. It said Treasuries yields have risen across maturities with the three month, six month and 12 month yields rising by 31 bps, 24 bps and 15 bps respectively to 10.11%, 10.18% and 10.45% ...
- Bullish DNH forecasts ASI hitting 7,500 in 3Q; 9,000 by year-end (Category: Business)
- Equities vs. rising interest rates: Gains exist (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
SRI LANKA’S fabled post-war window of opportunity seems to be closing, with the Central Bank following the International Monetary Fund (IMF) in reducing growth rates for 2012. But does that mean only gloom awaits Sri Lanka or can we ride out the tide and reach the golden shores? The Central Bank had originally forecast this ...
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Central Bank seen holding rates, SRR steady (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
It is pleasant to lead a peaceful life with no encumbrances and without debts. In the modern world, debt has become a part of life like breath. In Sri Lankan society, it has not been the case and the practice before. It has been a burden and a commitment for somebody to live in a ...
- World Consumer Day: ‘Our Money Our Rights’ (Category: Business)
- Does your money really belong to you? (Category: Business)
Peninsula, DOHA: The Sri Lankan rupee which has been fast tumbling against the dollar is expected to recover soon, and might actually begin appreciating, says Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal. The official said that the rupee now ruling at 120 a dollar will start looking up over the next “six to eight” ...
- CB says policy rates appropriate (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
CIMB Group Holdings Berhad (CIMB Group) and John Keells Stock Brokers (Pvt) Ltd. (JKSB) yesterday announced a strategic collaboration to promote and facilitate trading on the Colombo Stock Exchange (CSE) and provide co-branded research for CIMB’s clientele. JKSB, a founder member of the CSE and a subsidiary of John Keells Holdings PLC, the largest listed ...
- Sri Lanka to bag yet another ASEAN MoU (Category: Business)
- SGX and Bursa Malaysia connect on ASEAN Exchanges (Category: Business)
- AirAsia establishes regional base in Jakarta, AirAsia Asean (Category: Business)
- Troubled EU eyes ASEAN boost (Category: Business)
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