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Sri Lanka would have got money if IMF did not come through: Indian official
July 31, 2009 (LBO) – Sri Lanka would have got bilateral help if the International Monetary Fund did not cough up the cash, but the island now had an opportunity to ride on the endorsement by keeping to its targets, a top Indian official has said. Positive Message Though bilateral partners can pump money they […]
Sri Lanka mission chief interviewed by IMF publication
July 30, 2009 (LBO) – An International Monetary Fund publication, the IMF Survey has published an interview with Brian Aitken, who led mission to Sri Lanka that resulted in a 2.6 billion US dollar loan to the island. The full interview is reproduced below: IMF Survey online: Why does Sri Lanka need an IMF-backed program? […]
Sri Lanka releases another IMF document
July 30, 2009 (LBO) – Sri Lanka has released the technical memorandum of understanding signed with the International Monetary Fund (IMF), days after the main economic policy agreement was released.A few decades ago many countries did not release IMF documents as governments were unwilling to defend policies in the documents. IMF programs are drawn up […]
Sri Lanka promotes common telecom facilities in war-torn areas
July 30, 2009 (LBO) – Telecom firms racing to set up networks in Sri Lanka’s war-torn north and east, are being encouraged to share infrastructure under a new rebuilding plan, a top official said.The masterplan includes making it mandatory for at least three operators to share the cost of installing and running network towers, Telecommunications […]
Sri Lankan stocks close flat
July 30, 2009 (LBO) – Sri Lankan shares closed flat Thursday, as retailers took profits on blue chip counters, while Dialog shares continued to be heavily traded, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.01 percent (0.22 points) to end at 2,509.79 Thursday, while the Milanka index of liquid stocks […]
Financial Scrutiny
July 30, 2009 (LBO) – Sri Lankan authorities have begun evaluating the financial proposal of the sole bid by China Merchant Holdings and Aitken Spence for a new container terminal in Colombo port, officials involved with the project said.The new port, which has been delayed for years, is needed urgently to cater to the bigger […]
Recovery Path
July 30, 2009 (LBO) – Sri Lanka’s Seylan Bank said it had stepped up efforts to recover loans and improved credit evaluation and corporate governance under new management which was appointed by the banking regulator. It said in a statement the bank, which faced a run after the collapse of an unlisted subsidiary of its […]
Telco Scout
July 30, 2009 (LBO) – Emirates Telecommunications Corporation or Etisalat is scouting for investment opportunities in Sri Lanka’s fast growing telecom sector after the end of its decades long ethnic war, a top official said. Millicom officials have not commented on individual firms that are in the bidding process except to say that several firms […]
Infants die in Bangladesh after taking cheaply made drugs
DHAKA, July 30, 2009 (AFP) – When Kohinur Akhter’s 19-month-old baby boy came down with a fever and cough a little over a week ago, she had no idea the medicine she gave him to ease the pain would put him on his death bed. Now Akhter has been told by doctors in Bangladesh that […]
Sri Lanka govt plans training for former combatants
July 30, 2009 (AFP) – Sri Lanka plans to offer education and vocational training for about 20,000 former Tamil Tiger rebels, including child soldiers and operatives trained as suicide bombers, an official said Thursday.Nearly 300,000 people who were displaced by the ethnic conflict are still held in camps under military guard. The government insists that […]