Sri Lanka’s unemployment rate has risen to 4.9% in the second quarter of 2019, data from the state statistics office show. The number of unemployed persons is estimated as 420,231 during the second quarter 2019. Overall unemployment rate reported for female is 7.5% and it is 3.4% for male. Youth unemployment rate (age 15 –…
This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a random sample of 400 men and women covering all districts in Sri Lanka on their expectations of economic prospects in the ensuing twelve months. STATUS OF JOB PROSPECTS OR BUSINESS PERFORMANCE Analysis of…
Reuters – ** Sri Lankan stocks closed at a near three-week high on Wednesday, led by blue-chips, but foreign investors exited from the Indian Ocean island’s risky assets with the start of presidential poll campaigning. The rupee currency ended weaker. ** Local investors picked up select shares, with one of the two presidential frontrunners, former…
Reuters – Sri Lanka’s central bank will likely leave its key interest rates on hold at a policy review on Friday, after a 50-basis-point cut in August, a Reuters poll showed, ahead of presidential elections and as lower bank rates go into effect. Central bank chief Indrajit Coomaraswamy told Reuters after the last policy rate…
Sri Lanka’s leading business magazine LMD, Media Services, announced its top 20 line-up in the forthcoming LMD 100 special edition. Hayleys retains the No. 1 slot in the 26th edition of Sri Lanka’s pioneering listed company rankings for financial year 2018/2019. LOLC holds on to its second place on the podium while last year’s second…
The European Union (EU) is providing EUR 40 million to Sri Lanka to co-finance the “Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement” (STRIDE) project. Dr. R.H.S. Samaratunga, Secretary to the Treasury at the Ministry of Finance, signed the financing agreement on behalf of the Government of Sri Lanka on 9 October 2019. H.E. Tung-Lai Margue, Ambassador of the…
The American Chamber of Commerce in Sri Lanka announced the ‘Meet the Candidate’ series, at which the main Presidential Candidates will be hosted at a forum designed to discuss and express their proposed policies. The first in this series will take place this Friday, October 11 at the Hilton Colombo, with Sajith Premadasa, Presidential…
The impact of 5G upcycle, spectrum payments to put more pressure on operators’ FCF (free cash flow) in emerging markets, like Sri Lanka, India, Philippines, Indonesia, where the capex intensity is already above 30%, although widespread 5G rollout is not likely in these countries in the shorter term, says Fitch Ratings. According to Fitch Ratings…
Central Bank Governor yesterday (8) defended imposing lending rate caps insisting that it would give a strong boost to the economy by March once the election cycle is over. “Nominal growth at the moment is 8%, so that is 5% inflation and 3% growth, But if the average weighted lending rate is higher than that,…
Sri Lankan Holidays launch was held on 18th of September 2019 at Pullman Hotel in Dubai with a large number of guests participating. Around 55 agents attended this event, from top travel agents to media and corporate houses specifically targeting the travel and leisure market. Sri Lankan Airlines, along with SLTPB was invited to participate…
Video Story
