FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ »  Tourism and remittances top US $ 7bn in 2012

Tourism and remittances top US $ 7bn in 2012

Go down  Message [Page 1 of 1]

Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
In 2012, earnings from tourism and remittances reached a record high of US $ 1,039 million and US $ 5,985.3 million respectively reducing the current account deficit of the Balance of Payment (BoP) substantially, according to the data released by the Central Bank..

As a result, the Central Bank expects to reduce the current account deficit of the BoP to US $ 3.3 billion or 5.5 percent of GDP in 2012 from 7.8 percent in 2011. Further the BoP is also expected to turn into a US $ 100 million surplus improving from the deficit of US $ 1,061 million in 2011.

Since the end of the armed conflict in May 2009, the tourism earnings have been continuously improving and in 2011 it peaked US $ 830.3 million. However the increasing tourism arrivals which peaked at 1 million in 2012 fail to boost the bottom lines of the star class hotels in the country. This was amply demonstrated by the recently released Q3 results of John Keells Hotels’ bottom line denting by as much as 22 percent.

This was further proved by the latest research carried out by Capital Alliance on the country’s hospitality sector which is losing appeal in the minds of the tourists due to failure to deliver value for money.

Meanwhile the workers’ remittances which have so far come to the rescue of the current account of the BoP increased the earnings from US $ 5,144.8 million in 2011 to little less than US $ 6,000 million.

It is unlikely that the government will take any measures to disturb this encouraging trend despite recent calls from various quarters to ban the practice sending of Sri Lankan women to Middle Eastern countries as house maids.

This is particularly true at a time when the Central Bank strives to increase the remittances share of the GDP to at least 14 to 15 percent from the existing 10 percent level within the next 4 years. According Ajith Nivard Cabraal, the Governor of the Central Bank, the high level of inflows on account of emerging services such as export of software and information technology enabled services also helped to buttress the current account substantially. The ICT/BPO industry which is among the top five export revenue earners accounts for over US $ 600 million annually.

Meanwhile the capital & the financial account of the BoP also saw substantial foreign currency inflows. Foreign investments at the Colombo Stock Exchange (Portfolio investments) peaked US $ 305 million against the net outflow of US $ 171 million in 2011.

There has been a significant increase in foreign investments in government securities, with net inflows to treasury bills and treasury bonds during 2012 amounting to US $ 843 million compared to the net inflow of US $ 233 million in 2011.

Further, long-term loans obtained by the government during 2012 amounted to US $ 2,869 million, while long-term borrowings by commercial banks during 2012 amounted to US $ 973 million.

Meanwhile the Foreign Direct Investments which were materialized for the full year will not be available until March, for the first nine months the figure stood at US $ 615 million including foreign loans obtained by Board Of Investment (BOI) companies.

Nevertheless Mirror Business exclusively reported in January, the total for the year was US $ 1.2 billion quoting the ex-chief at the BOI.

Gross official reserves amounted to US $ 6,877 million by end 2012, while total international reserves which include gross official reserves and foreign assets of commercial banks, amounted to US $ 8,358 million by end 2012. In terms of months of imports, gross official reserves were equivalent to 4.3 months of imports by end 2012, while total reserves were equivalent to 5.3 months of imports.
http://www.dailymirror.lk/business/economy/25708-tourism-and-remittances-top-us--7bn-in-2012-.html

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Symptoms of Vehicle tax reduction....................?

VISA


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Arena wrote:Symptoms of Vehicle tax reduction....................?

Not till HRC vote

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hey i want to buy one men.........I don't have money to pay these taxes. People think they lease the car........But actually they lease the tax...... Twisted Evil

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum