CB downgrades 2018 growth forecast – DailyFT
In the backdrop of modest growth and a challenging external environment, the Central Bank has decided to keep policy rates unchanged, voicing expectations for the first half of 2018 to grow about 3.5% to eventually end the year at 4%, behind the initially projected economic expansion rate of 4.5% announced in January.
Inflation to be high in Aug – Ceylon Today
Inflation is expected to maintain the current high levels of 5.4 per cent, experienced last month, this month as well, due to high fuel prices and the cascading effects thereof, complemented by high food prices, Central Bank Governor Dr. Indrajit Coomaraswamy said Friday (3).
Sri Lanka unemployment hits 4.5% in Q1 – Ceylon Today
Sri Lanka’s total unemployed persons reached 372,135 during the first quarter of this year, resulting in an unemployment rate of 4.5 per cent, up from 4 per cent recorded during the fourth quarter of last year and 4.1 per cent recorded during the same quarter of 2017.
ASPI recovers from 3-week low – Daily News
The Bourse ended the week on a negative note as the ASPI decreased by 10.09 points (or -0.16%) to close at 6,143.90 points, while the S&P SL20 Index also decreased by 38.12 points (or -1.13%) to close at 3,322.25 points.
Sri Lanka has agreed with India to conclude the talks on Economic and Technology Co-operation Agreement (ETCA) by December this year, according to a news story published by the Press Trust of India on 4th August 2018.
Govt secures $1 bn Chinese loan – The Island
The central bank has announced it had secured a $1 billion Chinese loan as the island, a key link in Beijing’s ambitious Belt and Road initiative, develops closer relations with Asia’s largest economy. Central bank Governor Indrajit Coomaraswamy said that first half of the loan will be released later this month and the balance will be received in October.
The Association said the excise duty structure that was proposed in the budget 2018 had a favorable differential for small motor cars which is likely to have driven the strong vehicle growth experienced in 2018. CMTA said this situation has added a further strain on the nation’s current account which is already seeing an expanding fuel import bill given the rising global oil prices.
The Committee on Public Enterprises (COPE) has summoned officials from the Ceylon Electricity Board (CEB) and Public Utilities Commission of Sri Lanka (PUCSL) to hold an inquiry into matters pertaining to the purchasing of electricity from private power producers.
National Sustainability discourse launched today – Daily News
The National Sustainability discourse, a three month nationwide discussion on the contents of the first draft of the Vision 2030 document will be launched today (6) by the Presidential Secretariat, at the Bandaranaike Memorial International Conference Hall (BMICH).
This publication contains economic and social indicators of Sri Lanka in the areas of national accounts, agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, population and labour force, transportation, education, health, telecommunication services, climate and selected information on the economic and social indicators of other countries.
Big upgrade for Ratmalana Airport – The Island
An investment of Rs. 1.47 billion would be made to develop the Ratmalana Airport to make it a hub for international commercial aviation operations, Minister of Transport and Civil Aviation, Nimal Siripala de Silva has said recently.
NPC appoints seven committees – Daily News
The National Police Commission (NPC) has appointed seven committees aimed at streamlining the Police Department and finding solutions to several key problems faced by the public. These committees are on narcotics, traffic rules, organised crime, crimes against children and women and Tourism Police.
Sri Lanka President vows to block legislator salary hike – EconomyNext
President Maithripala Sirisena has vowed to block a salary increase for MPs although their pay structure is linked to that of the judiciary in line with legislation approved in 2006. “The President said that it is not appropriate to increase the salaries of the ministers and MPs at the present time when the government is trying to find solutions for many problems, including the rising cost of living,” Sirisena’s office said in a statement.
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