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Sri Lanka could target inflation of 4-7 percent: IMF paper
Apr 14, 2011 (LBO) – An International Monetary Fund policy paper has proposed a forecasting and policy analysis system (FPAS) to help start an inflation targeting regime for Sri Lanka which suggested a range of 4.0 to 7.0 percent a year as a target. The paper said Sri Lanka’s tight peg also complicated monetary policy. […]
Vietnam ADB meeting to focus on Asian emerging challenges
Apr 14, 2011 (LBO) – Asian Development Bank’s annual meeting in Vietnam will focus on rising commodity prices which is hurting Asia’s two billion poor, climate change, an ageing population as the region also grapples with natural disasters. ADB’s 44th annual meeting starts will be held from May 03 to 06 in Hanoi alongside a […]
” bra goes on sale: report
Apr 13, 2011 (LBO) – The world’s first ‘carbon neutral’ bra, made at an eco-friendly factory Sri Lanka that uses hydro electricity, is going on sale at Marks and Spencer (M&S), a UK based retailer, a media report said. Sri Lanka is a key supplier of lingerie to top global brands. The country’s top apparel […]
UN leader under pressure over Sri Lanka war report
UNITED NATIONS, April 13, 2011 (AFP) – UN Secretary General Ban Ki-moon is studying an expert report into thousands of deaths during Sri Lanka’s 2009 military drive against Tamil rebels, as calls grow for an international probe. Ban has given himself just days to decide on recommendations made by a panel of experts which handed […]
Sri Lanka rights report given to UN chief
UNITED NATIONS, April 12, 2011 (AFP) – A panel of UN experts on Tuesday handed over a report on alleged war crimes in Sri Lanka against Tamil separatists to UN leader Ban Ki-moon, his spokesman said. But the United Nations would not say whether the panel was allowed to go to Sri Lanka, which publicly […]
Inauspicious start for Sri Lanka timekeeping site
April 12, 2011 (AFP) – An official Sri Lankan timekeeping website aimed at synchronising watches and helping locals to obey astrological instructions crashed on its first day thanks to unexpected stormy weather. The website, www.sltime.org, was launched Monday by President Mahinda Rajapakse as a resource to help align clocks, watches and computers with Sri Lankan […]
Sri Lanka central bank had independence in 2010: Treasury secretary
Apr 13, 2011 (LBO) – Sri Lanka’s central bank had independence in 2010 and the country moved forward with more prudent fiscal and monetary policies, Treasury Secretary P B Jayasundera said. Central Banks were originally created by kings to print money and fight wars creating inflation and balance of payments troubles in the process. Sri […]
Sri Lanka shares end up 1.6-pct
Apr 12, 2011 (LBO) – Sri Lankan shares closed sharply higher Tuesday with the main index and turnover boosted by large transfers of shares in the Carsons group and gains in select high-valued stocks, brokers said. In other trades Tuesday, a million Commercial Bank shares changed hands in three crossings at 275 rupees a share […]
Efficiency Lift
Apr 12, 2011 (LBO) – Sri Lanka Ports Authority (SLPA) has taken delivery of new cranes to replace old ones at its main container terminal in Colombo port that will help improve productivity, officials said. The company which supplied the original cranes is no longer functioning, making the supply of spares a problem, it said. […]
Sri Lanka tourist arrivals up 43.5-pct in March
Apr 12, 2011 (LBO) – Sri Lanka’s tourism arrivals rose 43. 5 percent in March 2011 to 75,130, with steep increases seen from South Asia and several European generating markets, data from the tourist promotion office showed. Australia and New Zealand rose 50 percent to 3,540 and North America was up 16.8 percent to 3,990. […]