All Stories in Economic

People who do not have a genuine need for our protection must return to their home country.

People who do not have a genuine need for our protection must return to their home country.

The UK continues to deport Tamils seeking political asylum to Sri Lanka, despite strong evidence that the security forces systematically use torture against those suspected of dissident activity five years after the end of the country’s civil war. A new report by the Freedom From …

Central bank moves to make commercial banks lower interest rates

Central bank moves to make commercial banks lower interest rates

Sri Lanka’s central bank announced moves on Tuesday to make commercial banks lower their interest rates and increase lending to support an economy expected to grow 7.8 percent this year, while keeping its own policy lending rate unchanged. The central bank held its reverse repurchase …

Sri Lanka Power Report 2014

Sri Lanka Power Report 2014

Sri Lanka will look to coal and renewables to meet its energy needs for the next three to five years, as alternatives offered by gas-fired power generation remain too costly and the necessary pipeline links, LNG facilities and distribution system are still lacking. More urgently, …

China Maritime Silk Road Proves Boon for Sri Lanka as Xi Lands

China Maritime Silk Road Proves Boon for Sri Lanka as Xi Lands

A view from Sri Lanka’s capital of land curving into a sea once famed for its pearls now shows giant yellow digger trucks piling boulders. It’s another show of China’s increasing global influence. Once fought over by European powers, Sri Lanka is now benefiting from …

Sri Lanka Drawing Investment Amid Human Rights Row, Cabraal Says

Sri Lanka Drawing Investment Amid Human Rights Row, Cabraal Says

Sri Lanka is luring enough foreign capital to meet its growth targets even as the U.S. increases pressure on the country to address allegations of human rights violations, central bank Governor Ajith Nivard Cabraal said. The U.S. has sponsored three United Nations resolutions in as …

Muthoot Finance picks up 30 per cent stake in Sri Lankan NBFC

Muthoot Finance picks up 30 per cent stake in Sri Lankan NBFC

Facing growth headwinds following regulatory tightening, leading pure-play gold financier Muthoot FinanceBSE -0.73 % today announced branching out to neighbouring Sri Lanka by acquiring a 30 per cent stake in Asia Asset Finance for $2.1 million. The south-India based company acquired 1,67,785,600 shares in the …

4000 US $ GDP promise for 2015 will not be reached even by 2026

4000 US $ GDP promise for 2015 will not be reached even by 2026

Optimism about Sri Lanka’s future growth abounded at the Ceylon Chamber of Commerce’s economic summit held last week. The running refrain was that Sri Lanka doubled its gross domestic product (GDP) per person between 2004 and 2009, will repeat that success by 2015 and from …

Going back in time in Sri Lanka

Going back in time in Sri Lanka

Two Sri Lankan cities at the  heart of a 25-year civil war are creeping back onto a tourist trail  from which they were blocked until peace came to this South Asian  country five years ago. The island that sparked the word ”serendipity” – describing  happy discoveries …

Framework and methodology of OHCHR Investigation on Sri Lanka released

Framework and methodology of OHCHR Investigation on Sri Lanka released

The final framework and  methodology of investigation on war crime  in Sri Lanka has been issued by the UN OHCHR Team dated 1 August 2014. The period under investigation is that …

IMF – Sri Lanka among one of the fastest developing economies in Asia

IMF – Sri Lanka among one of the fastest developing economies in Asia

Sri Lanka’s economic growth has been one of the fastest among Asia’s developing economies in recent years, International Monetary Fund (IMF) said Tuesday. The IMF Executive Board releasing its report after the conclusion of Article IV consultations with Sri Lanka said the country’s recent economic …