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Sri Lanka inflation falling faster than expected: Central Bank
Dec 19, 2008 (LBO) – Sri Lanka’s inflation is falling faster than expected, the Central Bank said, as a global collapse in commodities washed into the country and the country’s money growth was also kept in check. Sri Lanka’s central bank targets the monetary base, which is expected to influence growth in other monetary aggregates, […]
Sri Lanka looking for alternative foreign financing: Central Bank
De 19, 2008 (LBO) – Sri Lanka is looking for alternative sources of foreign funding, the central bank said, as global financial markets remained in turmoil and risk premiums high despite unprecedented rate cuts by reserve currency central banks.The Central Bank says a major part of speculative capital that came into the government securities market […]
Sri Lanka shares becalmed, JKH weakens
Dec 18, 2008 (LBO) – Sri Lankan shares barely moved Thursday, with John Keells Holdings falling 3.51 percent and transactions in Commercial Bank and Kelani Tyres accounting for the bulk of the day’s trading volumes, brokers said To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All […]
Bangla Buy
Dec 18, 2008 (LBO) – Sri Lanka’s listed NDB Bank is taking control of Capital Markets Services Ltd, a licensed merchant bank in Bangladesh, the bank said. The investment was subject to unspecified conditions, NDB said. The bank had received approval from Sri Lanka’s central bank and finance ministry. NDB said in a stock exchange […]
Sri Lanka to import rice despite bumper harvest
Dec 18, 2008 (LBO) – The Sri Lankan government says it wants a large stock of imported rice to boost stocks, days after the country’s statistics office announced a bumper harvest for the most recent growing season. At that time the ministry of consumer affairs allowed the import of 8,000 tons of rice from Burma […]
Sri Lanka desiccated coconut exporters say facing closure with duty hike
Dec 18, 2008 (LBO) – Sri Lankan exporters of desiccated coconut said a recent government hike in edible oil import duty could put them out of business as prices of raw nuts will remain high, making their exports uncompetitive. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Sri Lanka says Tiger defences captured
December 18, 2008 (AFP) – Sri Lankan troops have captured Tamil Tiger defences near the rebels’ political headquarters after heavy fighting, the government said Thursday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Soldiers were conducting “counter-terrorist operations” along the northern and northwestern defences of Kilinochchi, the […]
Stand Off
Dec 19, 2008 (LBO) – Sri Lanka’s cabinet of ministers had not revised oil prices after meeting for a second time, with a court decision to cut prices still to be officially conveyed, an official said. The cabinet is expected to meet again on the issue, he said. Sri Lanka’s Supreme Court directed the government […]
Developed countries urged not to curb migrant workers
Dec 18, 2008 (LBO) – Developed countries should not shut out migrant workers at times of economic crisis as they still face labour shortages and workers need to send money home to fight poverty, International Organization for Migration (IOM) said. They should see migrants as part of the solution during economic crises, the IOM said […]
Sri Lanka growth expected to slow in last quarter
Dec 17, 2008 (LBO) – Sri Lanka’s economic expansion is likely to slow in the last quarter as an external slowdown hits demand for its products, resulting in year-end growth of around 6.0 percent, officials said. In the third quarter the economy expanded by 6.3 percent, the government’s statistics office said, helped by high agricultural […]