Sri Lanka’s Central Bank, Finance Ministry main sources of economic instability

Sri Lanka’s Central Bank, Finance Ministry main sources of economic instability

Aug 8 – Colombo’s Finance Ministry which runs budget deficits and the Central Bank which compounded fiscal debacles by printing money, is the main source of macro-economic instability in Sri Lanka, economists said. Sri Lanka’s Finance Minister (who has the power to spend large volumes of money suddenly without taxing people) and Governor of the […]

India says ETCA agreement will benefit Sri Lanka, talks to start soon

India says ETCA agreement will benefit Sri Lanka, talks to start soon

Aug 4 (NIA) – The proposed Economic and Technology Cooperation Agreement (ETCA) between India and Sri Lanka would benefit Sri Lanka immensely, a statement quoting India’s High Commissioner in Sri Lanka Y. K. Sinha said on Thursday. In a statement, Sinha who was speaking at the 8th Annual General meeting of the Indo, Lanka Chamber […]

Sri Lankan PM to announce five-year economic plan in a few weeks

Sri Lankan PM to announce five-year economic plan in a few weeks

Colombo, August 2 (NIA): The Sri Lankan Prime Minister, Ranil Wickremesinghe, will be announcing a Five Year Plan for the country in the next few weeks, the Sri Lankan Central Bank Governor, Dr. Indrajit Coomaraswamy, told the Sri Lanka Economic Summit 2016 here on Tuesday. The Five Year Plan is expected to give the government, […]

Japan agrees to finance LRT for Colombo

Japan agrees to finance LRT for Colombo

July 30 – Japan has agreed to provide concessional funding to build a Light Rail Transit (LRT) system in Sri Lanka’s proposed Megapolis plan, with the initial section to be elevated and the rest at ground level, the EconomyNext reported. The two governments have agreed to expedite the detailed technical feasibility in order to initiate […]

Sri Lanka seeks duty free access for tea, apparel in India, China

Sri Lanka seeks duty free access for tea, apparel in India, China

July 27 (NIA) – The Sri Lankan government is giving priority to getting duty free access to the Indian and Chinese markets for its main exports like tea and apparel in talks on free trade deals scheduled to start next week, a local media report said here on Wednesday. K G Weerasinghe, a member of […]

Bangladesh, Nepal to begin direct flights to Colombo

Bangladesh, Nepal to begin direct flights to Colombo

July 27 (NIA) – The national carriers from Bangladesh and Nepal will begin direct flights to the Sri Lankan capital, Colombo from this year in a bid to increase air connectivity to Sri Lanka, Director General of Civil Aviation H. M. C. Nimalsiri said on Wednesday. Bangladesh’s Biman Airlines and Nepal’s Himalayan Airlines will fly to […]

Sri Lanka to revise electricity price twice yearly from 2017

Sri Lanka to revise electricity price twice yearly from 2017

July 26 – Sri Lanka plans to revise electricity tariffs every six months starting from April 2017, in a bid to maintain cost-reflective pricing, the country’s power regulator said. The government has given the go ahead to revise power tariffs every April and October, director General of Sri Lanka’s Public Utility Commission Damith Kumarasinghe told […]

Singapore’s Surbana Jurong To Develop Trincomalee Port And Hinterland

Singapore’s Surbana Jurong To Develop Trincomalee Port And Hinterland

Singapore’s Surbana Jurong To Develop Trincomalee Port And Hinterland Colombo, July 21: Sri Lankan Prime Minister Ranil Wickremesinghe has said that Trincomalee harbor in Eastern Sri Lanka, which is one of the best natural harbors in the world, will be turned into a modern one with a technologically advanced hinterland by the Singapore company, Surbana […]

Sri Lankan PM For Closer Economic Ties With Tamil Nadu and South India

Sri Lankan PM For Closer Economic Ties With Tamil Nadu and South India

Colombo, July 21: Sri Lankan Prime Minister Ranil Wickremesinghe is pushing for  closer economic ties with Tamil Nadu and other states of South India through an improved India-Sri Lanka Free Trade Agreement (ISLFTA) and the proposed Economic Technical Cooperation Agreement (ETCA) with India which is to be signed by year end, The New Indian Express […]

1 68 69 70