Home / Front Page/ Biz confidence improves post-Supreme Court ruling

Biz confidence improves post-Supreme Court ruling

Comments / {{hitsCtrl.values.hits}} Views / Friday, 8 February 2019 00:00



The LMD-Nielsen Business Confidence Index (BCI) climbed 11 notches to register 101 in January, according to the latest edition of LMD. 

This puts the index only one basis point shy of its average of 102 for the last 12 months. Nielsen’s Managing Director Sharang Pant explains: “Following two months of uncertainty, stability seems to be returning to the Sri Lankan political scenario. This has had a certain impact on [business] sentiment.”

Furthermore, he notes that “the rupee continues to slide due to dollar pressure but inflation is under control. Sentiment regarding the tourism industry is positive as well – this despite the short-term impact on tourist arrivals late last year.”

LMD reports that the economy, politics and corruption are considered to be among the main concerns for the nation. Meanwhile, the value of the rupee and inflation are the notable sensitivities in corporate circles.

“Sri Lanka is currently in a debt trap and the depreciation of the rupee is pushing the country further into debt. The authorities should act first on strengthening the value of the rupee; or else the economy will be adversely impacted,” observes one corporate executive.

Regarding the outlook for the index, a spokesperson for Media Services, the publisher of the leading business magazine, says: “It is anybody’s guess as to what the future holds for business and the BCI, given that the pre-constitutional crisis status quo has been restored to some degree, and that we may witness one or more elections this year.”

Media Services says the latest edition of the magazine will be released to leading bookstores and supermarkets on 8 February (for the full BCI report, visit www.LMD.lk).


Rupee ends firmer; CSE gains

Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Religion is a problem in Sri Lanka; can it be a solution?

Saturday, 17 August 2019

Generally, it is expected that religion should be a solution to a problem. Ironically in Sri Lanka religion is the problem. Therefore, what would be the solution? When religion becomes a problem of a country....

Orthodoxy and change: A perennial Muslim issue

Saturday, 17 August 2019

Whether Muslims live as minorities in non-Muslim countries or as majorities in a total of fifty seven countries, the clash of orthodoxy with modern challenges is a perennial issue that bedevils progress on several fronts in these communities.

Making the MCC Compact work for Sri Lanka

Friday, 16 August 2019

It is a sign of these political times that even an apolitical issue like a foreign aid program becomes a hot topic in Sri Lanka. In April 2019, the Board of Directors of the Millennium Challenge Corporation (MCC) approved a compact program for Sri La

Sri Lanka needs a president hungry for success, not power

Friday, 16 August 2019

The late John F. Kennedy described politics as a “noble adventure, an adventure in which one joins hands with the masses for the service of man”. Not that the Kennedys didn’t play “politricks” in their heyday. But playing “politricks” w

Columnists More

Special Report