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Sri Lanka to release index showing lower inflation
Dec 01, 2007 (LBO) – Sri Lanka is about to release an inflation index that shows a lower level inflation a top official said, making the island the latest country to change indices in the face of runaway inflation from money printing. Rising inflation has prompted calls for legislated inflation targeting and full independence for […]
Sri Lanka to sell more rupee bonds to foreigners
Nov 30, 2007 (LBO) – Sri Lanka has lifted a ceiling on foreign holdings of government rupee bonds, allowing foreign investors to buy into more than 500 million dollars worth new medium term securities. The government has doubled an earlier limit of 5 percent of outstanding government bonds to 10 percent, from November 30. Sri […]
Sri Lanka inflation rockets 4.4-pct in November
Nov 30, 2007 (LBO) – Consumer prices in Colombo’s capital jumped 4.4 percent in November keeping 12-month inflation at a record 19.6 percent for the second month running, the government’s statistics office said.The Colombo Consumer Price Index (CCPI) gained 253.2 points to move to 5976.2 index points. The moving average of the index, averaged over […]
Sri Lanka plans longer term sovereign bond
Nov 30, 2007 (LBO) – Sri Lanka want to issue longer term sovereign bonds going beyond the 5-year tenor issued in October, as part of a strategy to reduce pressure on domestic debt markets in 2008, a top official said.The government was looking at 7-10 year bonds to extend the tenor of its foreign debt […]
Sri Lanka in new push on agriculture
Nov 30, 2007 (LBO) – Sri Lanka is getting 360 million dollars in concessionary aid from Iran to build a multipurpose irrigation project that will generate 100 MegaWatts of electricity and divert water to irrigate the south of the country, officials said. The Uma Oya project with cost a total of 450 million dollars, Treasury […]
SriLankan Airlines gets global air safety certification
Nov 30, 2007 (LBO) – SriLankan Airlines has said it had received an international air transport safety audit certification a year ahead of a global deadline. . Corrected The airline has been added to the Registry of the International Air Transport Association (IATA) Operational Safety Audit, which measures safety and quality standards among airlines throughout […]
China to stop arresting women for carrying condoms: state press
BEIJING, Nov 30, 2007 (AFP) – Chinese police are to stop arresting women who carry condoms, traditionally seen as evidence of prostitution, in an effort to help curb the spread of AIDS, state press said Friday.Despite efforts to stop the practice, women in China are still being sent to labour camps for prostitution offences merely […]
Market stress keeps economic outlook murky: Bernanke
WASHINGTON, Nov 29, 2007 (AFP) – The Federal Reserve sees a high degree of uncertainty in the US economic outlook and is worried that strains in financial markets may lead to broader problems, Fed chairman Ben Bernanke said Thursday.In remarks prepared for delivery to a business group in Charlotte, North Carolina, Bernanke said policymakers are […]
Vaas, Murali feats no distraction, says Sri Lanka captain
KANDY, Sri Lanka, Nov 30, 2007 (AFP) – Sri Lanka will not be sidetracked by the record feats of Chaminda Vaas and Muttiah Muralitharan when the first Test against England starts on Saturday, captain Mahela Jayawardene said. While off-spinner Muralitharan needs five wickets to become Test cricket’s most successful bowler, seamer Vaas will become only […]
Sri Lanka warned of impending foreign debt crisis by IMF
Nov 30, 2007 (LBO) – The International Monetary Fund (IMF) has warned that Sri Lanka may be heading towards a foreign debt crisis unless the island changed its recent habit of borrowing commercial dollars to bridge high budget deficits. IMF’s executive directors in an assessment after the international monetary watchdog completed its annual Article IV […]