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Finance Support
Feb 20, 2009 (LBO) – Sri Lanka’s government is offering four billion rupees in bonds and guarantees to improve liquidity in registered finance and leasing companies facing liquidity problems, central bank governor Nivard Cabraal said.A liquidity ratio of 15 percent required to be maintained against fixed deposits would be cut to 10 percent and a […]
Sri Lanka air defences down Tiger aircraft
Feb 20, 2009 (LBO) – Sri Lanka has downed a Tamil Tiger light aircraft near an air base and an international airport north of Colombo following a raid where another aircraft attacked the headquarters of the island’s revenue office, the military said. Colombo was blacked out shortly after 9.00 pm Friday after the military detected […]
Sri Lanka capital blacked out against Tiger air intruders
Feb 21, 2009 (LBO) – Sri Lanka’s capital Colombo was blacked out Friday night and air defences were activated against a possible attack by Tamil Tiger guerrilla aircraft, residents and officials said. Searchlights were activated in the capital, and motorists were told to douse their lights by policemen, shortly after 9.00 pm local time, residents […]
Sri Lanka troops capture another Tiger village: military
February 20, 2009 (AFP) – Sri Lankan security forces seized another village from Tamil Tiger rebels, the government said Friday, as international concern mounted about the plight of civilians caught in the shrinking war zone.Government forces established control over the village of Ampalavanpokkanai in the district of Mullaittivu on Thursday afternoon following heavy fighting, the […]
Sri Lanka troops capture Tiger diving gear: military
February 20, 2009 (AFP) – Security forces captured diving equipment and underwater “scooters” used by suicide bombers after heavy fighting with Tamil Tiger rebels in the island’s northeast, the defence ministry said on Friday.Troops seized the equipment after five hours of fighting at the village of Ampalavanpokkanai on Thursday, the ministry said in a statement. […]
Sri Lanka inflation to fall to 8.0-pct by end-Feb: CB Governor
Feb 20, 2009 (LBO) – Falling inflation is giving Sri Lanka more room to loosen monetary policy, Central Bank Governor Nivard Cabraal said Friday, though the island is grappling with a balance of payments problem. Sri Lanka’s 12-month inflation would fall to around 8.0 percent in February from 10.7 percent in January and year-end inflation […]
Sri Lanka, developing countries, face more challenges and poverty from downturn: economists
Feb 20, 2009 (LBO) – While developed countries are facing economic contraction, developing nations are facing increases of absolute poverty, with some countries like Sri Lanka having little fiscal room to maneuver, economists have said. A global economic crunch from a collapsing housing, financial and commodity bubble was slowing ‘economic growth’ worldwide, with world growth […]
Sri Lanka must sacrifice growth for stability: economist
Feb 19, 2009 (LBO) – Sri Lanka’s government should focus on restoring macro-economic fundamentals which have deteriorated in recent years to help it overcome the global economic crisis, even if means slower growth, an economist has said. Resources had to be set aside for both while the government had to do normal development activities. But […]
Sri Lanka treasury bill yields flat
Feb 19, 2008 (LBO) – Sri Lanka Treasury bill yields were flat at an auction Wednesday, with the government selling 4.2 billion of the 7.0 billion bills offered for sale.The 12-month yield eased 01 basis points to 17.73 percent, the 6-month also by a basis point to 16.93 percent and the 3-month by 02 basis […]
Sri Lankan stocks attract foreign investors
Feb 19, 2009 (LBO) – Sri Lankan shares closed down Thursday but foreign investors have begun taking medium to long-term positions on blue chips like John Keells Holdings (JKH), Hemas Holdings and Dialog Telekom, brokers said. Dialog Telekom lost 10 cents to close at 4.90 rupees, while Sri Lanka Telecom lost 50 cents to close […]