All Stories in Economic

Chairman SEC Sri Lanka,on Economy, Stock Market

Chairman SEC Sri Lanka,on Economy, Stock Market

     Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) will host the “Invest Sri Lanka” Investor Forum at the Shangri-La Hotel in Hong Kong on 9 September. The “Invest Sri Lanka” Investor Forum will feature presentations by Ajith Nivard …

Fonterra suspends Sri Lanka operations after protests

Fonterra suspends Sri Lanka operations after protests

    A Sri Lankan court ended a ban on the sale, distribution and advertising of all Fonterra milk products, lawyers said, soon after the company suspended operations in Sri Lanka on Friday. The New Zealand dairy giant said earlier it had temporarily suspended work …

Estate superintendents resign in fear of arrest

Estate superintendents resign in fear of arrest

    Superintendents of state owned and managed estates have begun to resign from their jobs fearing arrest over non payment of their workers’ retirement benefits. On Thursday, the Superintendent of Kumarawatte Estate in Moneragala was arrested by the police there on a Court order …

UK remains Sri Lanka’s second biggest trade partner

UK remains Sri Lanka’s second biggest trade partner

  The UK is Sri Lanka’s second biggest trade partner by volume after India. 2012 saw Sri Lanka export £907m worth of goods to the UK, 13% higher than the previous year, while imports from the UK were worth £146m. John Rankin, the British High …

Sri Lanka tea industry in crisis

Sri Lanka tea industry in crisis

    With limited crop on hand, members of the Sri Lanka Tea Factory Owners’ Association (SLTFOA) are in dire straits. Rising costs stemming from low crop and the increasing cost of inputs have all but restricted routine. “We are facing liquidity problems and eventually …

Economist says, holes in some of Sri Lanka’s Economic indicators

Economist says, holes in some of Sri Lanka’s Economic indicators

      An economist picked holes on some of Sri Lanka’s economic indicators, which on the surface showed that the economy was doing well. Indrajit Coomaraswamy, a former Director …

Central Bank Places Cap on Penal Interest Rates charged on Loans and Advances by Banks, Finance Companies and Leasing Companies

Central Bank Places Cap on Penal Interest Rates charged on Loans and Advances by Banks, Finance Companies and Leasing Companies

      The Central Bank today announced that a cap will be placed on penal interest rates charged by banks, finance companies and leasing companies. The Central Bank issuing a press release said; The Central Bank  has observed with concern that penal interest rates …

Sri Lankan Rupee falls

Sri Lankan Rupee falls

     A continuously weakening rupee to the US dollar may lead to a price spiral in essential food items, the trade warned yesterday. However, Central Bank Governor Ajith Nivard Cabraal claimed on the telephone from Washington where he is on an official visit “it …

CCC chairman red flags growing debt

CCC chairman red flags growing debt

     The country has fallen short of achieving its economic goals and progress has not been smooth despite the significant economic gains over the last few years, Ceylon Chamber of Commerce Chairman Suresh Shah told the inaugural session of the 14th Sri Lanka Economic …

Sri Lanka in drive to boost tourism in Pasikudah Bay

Sri Lanka in drive to boost tourism in Pasikudah Bay

     After a decades-long civil war the Sri Lankan government is aiming to develop its tourism industry as its economy expands. Because of its pristine beaches and an extraordinarily calm sea, the government has designated Passekudah Bay as a special tourism development zone. The …