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Sri Lanka ranked among the Top Ten Fastest Economies, being eighth in the world according to the Economist Intelligence Unit. As the global economy would emerge in the recession, it is envisaged that Sri Lanka would record a 6.3 percent GDP growth rate that is second only to China, which will record a 8.6 percent in the Asian region. ( Jan. 08 2010) More...
Capital is ready-Sri Lanka ranked the second-best performing stock market in the world...
All Share Price Index rising 23 points closed at 3,537 for the week ending January 15th while Milanka Index gained 46 index points to reach 4,085. The turnover topped at Rs.5,515 million.
The stock market will boom in 2010 with the positive sentiments of the global business community coupled with opening up of the Northern and Eastern Provinces to the world economy. This will pave the way to generate more employment opportunities and attract more
( Jan. 15 2010) More...
Decline interest Rates...
The Bank lending rates have been fallen by about 4% after the revision of interest rates at the end of Oct.2009. The present lending rates on average stood at 8%-16% as against 12%-23% stationed before the revision This will pave the way to reduce the borrowing rate and deposits rates. This would benefit the entire economy by expanding activities of the industry, service and agriculture sectors particularly in the SME sector.
( Jan. 15 2010) More...
Annual Average Inflation continued to decline the lowest level....
The annual average inflation declined to a 3.4 percent in December 2009 from 22.6 percent recorded in 2008. However, inflation rose to 4.8 percent in December 2009 reflecting the increased food prices due to less supply of agricultural consumer goods such as rice, vegetable, fish and sea food, coconut and potatoes from November to December coupled with seasonal pattern continued with festival season.
( Jan. 08 2010) More...
Declined interest Rates....
As a response to easing off the monetary policy stance of the Central Bank in line with the decreased inflation, the money market interest rates have declined by over 900 basis points so far this year. A similar decline is observed in the short term interest rates. As a result, the lending rate has also declined.
( Jan. 08 2010) More...
Sri Lanka ranked the Second-best performing stock market in the world....
The Colombo Stock Market reached its highest in 2009 ranking the second-best in the world supported by the end of the civil conflict frees up government spending for investments in infrastructure and agriculture. The ranking will help to attract foreign investors and fund managers to the country and introduce new market instruments such as derivatives to the market.
All Share Price Index rising 120 points recorded an all time high, close at 3,386 for the week ending December 30th while Milanka Index gained 105 index points to reach 3,849. The turnover topped at Rs. 704 million.
( Jan. 01 2010) More... |
Annual Average Inflation continued to decline the lowest level....
The annual average inflation declined to a 3.4 percent in December 2009 from 22.6 percent recorded in 2008. However, inflation rose to 4.8 percent in December 2009 reflecting the increased food prices due to less supply of agricultural consumer goods such as rice, vegetable, fish and sea food, coconut and potatoes from November to December coupled with seasonal pattern continued with festival season. Inflation continued to decline from July 2008 mainly due to a decrease in prices of food items. The annual average inflation also decreased from 10.4 percent to 3.4 percent in December 2009. ( Jan. 01 2010) More... |
Tourist arrivals up 2.1%....
Tourist arrivals in December increase by about 28 percent to 56,862 persons.
The tourist arrivals in 2009 was 447,890, an increase of 2.1 percent over 2008. Many hotels will be fully booked from December-April 2010 season as tourist return to the Island. Ending a war was a catalyst for the development of the tourism
( Jan. 01 2010) More... |
Declined interest Rates....
As a response to easing off the monetary policy stance of the Central Bank in line with the decreased inflation, the money market interest rates have declined by over 900 basis points so far this year. A similar decline is observed in the short term interest rates. As a result, the lending rate has also declined. The Bank lending rates have been fallen by about 4% after the revision of interest rates at the end of Oct.2009. ( Jan. 01 2010) More... |
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| Stock market on a positive note...
At the week ending December 24th, the All Share Price Index averaged at historic high of
3,266, up 132 points while MPI also increased to 188 points to close at 3,744. Turnover was Rs. 1,197. Market capitalization at the end of the week was Rs. 1,053.6 billion
.(Dec. 24 2009)
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Continued Decline Trade Deficit ...
Trade deficit contracted by 57 percent to US $ 2,217 million in the first ten months of 2009 from US $ 5,711 million in the reference period of 2008. Exports during the period were US $ 5,748 million, a decline of 15.6 percent over the review period of 2008.
(Dec. 24 2009)More...
Sri Lanka ranked the Second-best performing stock market in the world....
The Colombo Stock Market reached its highest in 2009 ranking the second-best in the world supported by the end of the civil conflict frees up government spending for investments in infrastructure and agriculture.
( Jan. 01 2010) More...
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Demonstrating the signs of recovery from the adverse impact of the global economic and financial crisis, the economy displayed its capacity to recover such shocks with the GDP picking up by 2.1 percent in the second quarter of 2009 in comparison to 7 percent recorded during the second half of 2008. This growth has largely been supported by a relatively favorable growth in the agriculture sector showing 4.4 percent growth in the second quarter of 2009 which, however, was relatively lower than that of 2008 mainly due to contraction in the production and export of tea and the export of agricultural crops. The industry sector grew by 3 percent, and sector growth decelerated mainly due to the low performance of export market oriented industries as a result of the global economic slowdown while the services sector recorded the lowest growth of 1.1 percent due to the contraction in wholesale and retail trade and hotels and restaurants sub sectors amidst the global economic slowdown and the overall slowdown in economic activity.
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With increasing trend in tourist arrivals since June, 2009, arrivals in November 2009 increased by 18 percent to 44,311 persons. Accordingly, the earnings from the tourists also increased by about 21 percent amounting US$ 34.6 million.
Global Commodity Outlook....
The slowing of global growth caused commodity prices to start falling in mid 2008. Demand for most commodities particularly in high income countries and in China slowed. As a result, crude oil dropped to US$ 41 a barrel while non-energy prices including food declined by about 40 percent. Since December the prices have firmed, with crude oil prices up to US$ 77 on average in November 2009 and for foods and metals up 22 and 13 percent respectively.
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