All Blogs
‘s US dependence falling, but global downturn may worsen
Mar 31, 2008 (LBO) – Falling dependence on the US economy will allow Sri Lanka to ride out a recession in that country, a top central banker said, amid warnings that the current global turmoil may become deeper. Economics Research chief of Sri Lanka’s central bank P N Weerasinghe said the share of exports to […]
Sri Lanka consumer prices hit new record in March 2008
Mar 31, 2008 (LBO) — Consumer prices in Sri Lanka’s capital Colombo measured by a controversial new index hit 23.8 percent in the 12-months to March, while an older index hit a record high of 28.1 percent, government data showed. . The price rises came after at least three months of tight monetary policy and […]
Plastic Competition
March 30, 2008 (LBO) – The emergence of non-bank entities that issue cards for payment services are a threat to traditional commercial banks, a Sri Lankan central banker said. The payments system is being transformed by new information technology and the integration of financial markets which has led to the emergence of non-bank actors, said […]
Market Play
Mar 30, 2008 (LBO) – Standard Chartered Bank which won a deal to raise 150 million dollars for the government earlier this month, is well positioned to boost fee based services, a top official said. A top player in foreign exchange markets and hedging products in the island, Standard Chartered Sri Lanka’s after tax profit […]
Oil Wealth
March 30, 2008 (LBO) – Sri Lanka has an opportunity to tap capital surpluses of oil-rich Gulf countries like Qatar as well as export professional services for a booming construction industry there, a senior Gulf banker said.R Seetharaman, chief executive of Doha Bank, the largest private commercial bank in the State of Qatar, said the […]
‘s national carrier
March 30, 2008 (AFP) – Dubai’s Emirates Airlines said Sunday it would stop sharing routes with Sri Lanka’s national carrier when its decade-long management contract expires this month.“Code share arrangements between Emirates and SriLankan Airlines will cease from 31st March 2008 with the expiry of the management agreement,” Emirates said in a statement released here. […]
Indonesia busts US$20 bln on fuel subsidies as inflation picks up
JAKARTA, March 30, 2008 (AFP) – With prices for key commodities at record highs, Indonesia — Southeast Asia’s biggest economy and a key exporter — should, at first glance, be enjoying good times. But with high oil prices leading to a government fuel subsidy blowout and rising food prices hitting the poor, analysts say most […]
Sri Lankan director in Indian Tamil trouble
CHENNAI, India, March 30, 2008 (AFP) – A Sri Lankan film-maker has ended up in hospital after making a damning film on the Tamil Tigers and trying to have it processed in a studio in a Tamil-majority region of neighbouring India.Thushara Peiris was set upon by a furious mob outside Gemini Studios in Chennai, capital […]
New Wavelength
March 29, 2008 (LBO) – Sri Lanka needs transparent telecom regulation and lower costs to encourage the information technology business and become a ‘knowledge economy’, says a new World Bank study. Transparent and consistent regulation was important to encourage private investment in the IT sector which was important for the development of the industry, knowledge […]
Philippine company launches 406-dollar mini laptop
MANILA, March 29, 2008 (AFP) – Philippine PC manufacturer Neo and multinational computer processor maker Intel have jointly launched a new 16,999-peso (406-dollar) mini laptop, spokesmen said Saturday.The Neo Explore is a “ruggedized and shock-proof” laptop with a keyboard that will not be damaged by spillages of liquids, said Neo spokeswoman Mariel Que. It weighs […]