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Sri Lanka remittances contract in 2015: Frontier Research

Sri Lanka has experienced a contraction in inward remittances after several years amidst falling oil prices and slower hiring in the Gulf nations, a top research firm said. 2015 remittance inflows have contracted 0.5 percent against the previous year, Frontier Research...

UNFPA Sri Lanka Launches its First Inter-generational Dialogue: Generation to Generation for Our Sri Lanka

The United Nations Population Fund (UNFPA) launched its first in a series of inter-generational dialogues on the shifting population dimensions in Sri Lanka and its significance in shaping future policies. By bringing generations together from across all spheres of the Sri...

Sri Lankan prime minister warns of slower growth on global slowdown

Sri Lanka is likely to see sluggish economic growth, slow foreign inflows, and a possible reduction in commodity export revenue in 2016 due to the global slowdown, Prime Minister Ranil Wickremesinghe warned on Wednesday. Analysts and economists said the country's rupee...

Government’s maiden effort imposes burdens on the people

The maiden budget of the new government has burdened the people by imposing indirect taxes, President of the Inter Company Employers Union Wasantha Samarasinghe said.The government has trebled the Goods and Services Tax (GST) to Rs. 378 billion in 2016 from Rs. 126 billion in...

2016 proposals more realistic than ‘revolutionary’ budget

Sri Lanka’s latest budget proved to be more realistic than the “revolutionary” budget that government ministers have been promising in recent days, according to Shiran Fernando, the Lead Economist at Frontier Research.”What we actually got was a more realistic, ordinary budget...

Sri Lanka’s biz community happy with 2016 budget concessions

Sri Lanka’s 2016 budget presented on Friday drew mixed reviews while two issues stood out – whether the bureaucracy is capable of quickly implementing the decisions, particularly taxes, and not addressing the foreign exchange crisis. However the business community was by and...

Sri Lanka * market update * Asian markets mixed, Brent 39.47; CTHR traded

Bartleet Religare Securities: The first full blown budget of the coalition Government was far kinder than the capital markets evidently expected. Sri Lanka has planned a budget deficit of 5.9% of GDP (LKR 740bn) for 2016, in the same neighbourhood of the 2015 deficit of 6%....

Sri Lanka sells $1.5 bln, 10-year eurobond at 6.85 pct yield

Sri Lanka paid less than it had expected to borrow $1.5 billion via a 10-year sovereign bond on Tuesday, with strong orders helping bring down the yield on the issue to 6.85 percent from initial guidance of around 7 percent. The Finance Ministry will use the funds to help plug...