All Stories in Economic

Ceylon Chamber of Commerce says Commonwealth Business Forum a success

Ceylon Chamber of Commerce says Commonwealth Business Forum a success

    The Ceylon Chamber of Commerce has acclaimed the successful completion of the of the Commonwealth Heads of Government Meeting (CHOGM) and the Commonwealth Business Forum. In addition the Chamber also congratulated President Mahinda Rajapakse for assuming responsibility as the Chairperson-in-Office of the Commonwealth …

Packer in talks with Sri Lankan Government over planned casino

Packer in talks with Sri Lankan Government over planned casino

    Australian billionaire James Packer plans to pump $400 million into a five-star gambling resort in Sri Lanka, cashing in on the country’s tourism potential. The businessman has revealed he is in detailed discussions with the Sri Lankan government and potential joint venture partners to …

Sri Lanka cuts lending rates hoping for growth

Sri Lanka cuts lending rates hoping for growth

     The Sri Lanka Central bank on Tuesday (15) cut benchmark lending rates by 50 basis points, saying the move was aimed at encouraging growth despite IMF warnings against …

Sri Lanka will find difficult to borrow overseas in future

Sri Lanka will find difficult to borrow overseas in future

   Sri Lanka will find it very difficult to borrow from abroad in the future due to the Fed’s stimulus tapering that is likely to happen sooner or later, which will pull back the excess liquidity in the global economy, according to a senior economist …

Corporate Governance In SL Is “Crap”

Corporate Governance In SL Is “Crap”

     Corporate Governance (CG) in Sri Lanka is crap, a tax consultant told this reporter on Wednesday (September 25). The occasion was the launch of the fifth edition of CG, a joint effort of the Chartered Accountants of Sri Lanka and the Securities and Exchange …

Lanka excellent to become commercial arbitration hub

Lanka excellent to become commercial arbitration hub

     Sri Lanka has all the elements to become a regional commercial arbitration hub in the region. The Sri Lanka National Arbitration Centre (SLNAC) is an excellent neutral location as it has the ability to resolve commercial disputes expeditiously and cost effectively under the …

Policy measures adopted is now taking affect

Policy measures adopted is now taking affect

  ▶sinhala– සිංහල ▶english–      The Central Bank releasing a statement on monetary policy   says Sri Lanka’s external sector remained stable, supported by the improving trade deficit, foreign inflows in the form of earnings from tourism, workers’ remittances, foreign direct investments (FDI), foreign debt capital …

Bond price “very expensive”

Bond price “very expensive”

  ▶sinhala– සිංහල ▶english–       The 5-year bond from National Savings Bank (NSB) was priced to yield 8.875 percent, tighter than the initial talk of 9.25 percent. Dealers said it was still “very expensive” compared with other Sri Lankan debt papers. The bond …

Financial institutions failing in their supervisory authority

Financial institutions failing in their supervisory authority

    The collapse of financial institutions every other year is a damning indictment on the banking regulator, the main opposition United National Party charged yesterday, slamming the Central Bank for misleading innocent depositors after another registered finance company was declared to be in trouble …

Closure of power plants cost millions of rupees losses to the CEB

Closure of power plants cost millions of rupees losses to the CEB

    A people’s movement in Sri Lanka says that the closure of power plants costs losses amounting to millions of rupees to the Ceylon Electricity Board (CEB) on a daily basis. The National Electricity Consumers’ Movement (NECM) has stated that the closure of the …