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IMF says monetary policy should be tightened to counter effects of commodity price rises
COOLUM, Australia, Aug 2, 2007 (AFP) – The International Monetary Fund (IMF) said Thursday that some countries may need to hike interest rates to keep inflation under control amid strong world growth and high fuel prices. “In the current context of continued very robust growth and rising prices in energy, commodities and food, to sustain […]
IMF plays down sharemarket falls as APEC finance meet opens
COOLUM, Australia, Aug 2, 2007 (AFP) – The IMF played down recent sharemarket turmoil and said it would not lower its global economic outlook Thursday as a meeting of Asia Pacific finance ministers opened in Australia.International Monetary Fund (IMF) deputy managing director John Lipsky also said interest rates may need to rise in some countries […]
‘s Malinga to join Kent county cricket
August 02, 2007 (AFP) – Sri Lanka’s star fast bowler Lasith Malinga is to join English county Kent for just under a month, the governing body of the sport here, Sri Lanka Cricket (SLC), said Thursday. Malinga becomes the fourth Sri Lankan to play for an English county in the current season — Muttiah Muralitharan […]
Sri Lanka ruling coalition member party submits resignation from govt
August 02, 2007 (LBO) – Members of a Sri Lankan political party, Ceylon Workers Congress (CWC), that helps keep the ruling coalition in power submitted their resignations from the government Thursday. “We have decided to quit the government,” R Yogarajan, Vice President of the Ceylon Workers Congress told LBO. CWC leader Arumugam Thondaman, who is […]
Sri Lanka urges maritime security boost at ARF
MANILA, Aug 2, 2007 (AFP) – The international community must step up efforts to safeguard maritime security in the face of terrorist threats, Sri Lanka said here on Thursday. Sri Lanka faces its own sea-borne threat from the Liberation Tigers of Tamil Eelam, which is campaigning for a separate state for minority Tamils. Foreign Minister […]
Sri Lanka formally joins Asia-Pacific security forum
August 02, 2007 (LBO) – Sri Lanka has formally joined the ASEAN Regional Forum (ARF), a body that discusses security issues in which both Asia-Pacific nations as well as big powers outside the region are involved. Sri Lankan Minister of Foreign Rohitha Bogollagama signed the Instrument of Accession making Sri Lanka a member of the […]
Sri Lanka to sell treasuries at post offices, central bank offices
August 01, 2007 (LBO) – Sri Lanka’s central bank which runs the public debt office for the finance ministry opened a new network of offices to sell treasury bills to retail customers with the help of a state-owned savings bank. . Treasuries Drive Sri Lanka to use post offices, central bank offices to retail treasury […]
” offer for sovereign bond: CB Governor
August 1, 2007 (LBO) – Attractive offers from international banks for a sovereign bond has made it likely that Sri Lanka will raise 500 million dollars rather than 400 million dollars, Central Bank Governor Nivard Cabraal said. “It is likely that we will go for 500 million dollars,” Cabraal told LBO. “I think the rates […]
Sri Lanka needs more protectionist agricultural policies: agri economist
August 01, 2007 (LBO) – Sri Lanka needs a more protectionist trade policy to ensure vulnerable sections of society are protected from the negative effects of liberalization while enabling its advantages to be exploited, a top agricultural economist said. This was one of the main reasons for the repeated failure of Doha talks, Herath said. […]
No Hassle
August 1, 2007 (LBO) – Sri Lanka’s Union Assurance made it easier to claim motor accident insurance in the highly competitive industry by allowing policy holders to drive off without waiting for assessors to arrive for inspections. A few years ago another insurer transformed the industry by doing away with the requirement for a police […]