All Stories in Economic

Sri Lanka raises deposit rate for over-60s to 12 pct before election

Sri Lanka raises deposit rate for over-60s to 12 pct before election

Sri Lanka’s central bank on Tuesday raised fixed deposit rates for some savers aged over 60 to 12 percent, as promised in the 2015 budget and ahead of a Jan. 8 snap presidential poll. All deposit holders above 60 years and holding fixed deposits of …

Stocks down; political uncertainty grows after fresh defections

Stocks down; political uncertainty grows after fresh defections

Sri Lankan stocks traded weaker on Tuesday as fresh defections from the ruling party hit the sentiment, raising political uncertainty ahead of the presidential polls early next year. The main stock index was down 0.3 per cent or 21.57 points at 7,230.00 at 0841 GMT. …

Sri Lanka Business Forecast Report Q1 2015

Sri Lanka Business Forecast Report Q1 2015

“Sri Lanka Business Forecast Report Q1 2015” from Business Monitor International has said Sri Lanka’s economy will continue powering ahead over the coming years on the back of sustained strong performance in the industrial and services sectors (comprising 58.0% and 31.5% of GDP, respectively). It has upgraded …

Russian rouble crisis affects tea exporters

Russian rouble crisis affects tea exporters

Central Bank Governor, Ajith Nivard Cabraal last Wednesday intervened to try to solve the crisis which has engulfed the country’s tea exporters who are reeling under the Russian rouble crisis. Russia is a destination to which 22% of Sri Lanka’s tea exports are shipped. Governor Cabraal …

Bajaj Auto bags order for 1.25 lakh bikes

Bajaj Auto bags order for 1.25 lakh bikes

Bajaj Auto has bagged an order for 1.25 lakh units of Discover-125M motorcycles from Sri Lankan government. The company through its distributor David Pieris Motor Company in Sri Lanka had secured, after a detailed evaluation process by the Government of Sri Lanka, an order from …

TNPF calls on Tamil people to boycott Presidential election

TNPF calls on Tamil people to boycott Presidential election

Gajendrakumar Ponnambalam, the leader of Tamil National Peoples Front (TNPF) on Thursday (18) addressing the media called on the Tamil people to boycott Sri Lanka’s presidential election next month, stating …

Why Indian ports can’t compete with Colombo

Why Indian ports can’t compete with Colombo

Cargo ships are getting bigger to handle larger volumes from Asia, particularly China, to Europe and the US. The container ship CSCL Global is the new ‘monster at sea;’ over 100 mega ships with carrying capacity of around 15,000 boxes on board sail the oceans. …

Sri Lankan stocks rise

Sri Lankan stocks rise

Sri Lankan stocks traded firmer on Wednesday as investors picked up select blue-chips amid low volumes even as investors turned cautious over buying into risky assets on political uncertainty ahead of the Jan. 8 presidential poll. At 0559 GMT, the main stock index was up …

Russian Economy Close to Crisis

Russian Economy Close to Crisis

Vladimir Putin is not short of problems, many of his own creation. There is the carnage in eastern Ukraine, where he is continuing to stir things up. There are his fraught relations with the West, with even Germany turning against him now. There is an …

Sri Lankan stocks fall to 12-wk low

Sri Lankan stocks fall to 12-wk low

Sri Lankan stocks fell to a 12-week closing low on Thursday as investors pulled back over worries the defection of some ruling party members would result in a hung parliament after the Jan. 8 presidential polls. The main stock index closed down 0.89 percent or …