All Blogs
Sri Lanka gets a new country head for World Bank
June 2, 2006 (LBO) – Naoko Ishii will take over as country director of the World Bank in August from the incumbent Peter Harrold, the bank said Friday. Harrold, a British national, ends his four-year tenure in July. Ishii, a Japanese national, has been a Director in the Japanese Ministry of Finance since 2002 where […]
Sri Lanka’s money markets tighten, pressure mounts on the exchange rate
June 1, 2006 (LBO) – After almost two years of excess liquidity, Sri Lanka’s inter-bank money markets are tightening up, as reserve money growth is arrested. This usually happens when net foreign assets fall due to an outflow of foreign exchange reserves, though a fall in domestic assets could also drive down reserve money. But […]
Fitch downgrades conglomerate Hayleys Ltd
June 1, 2006 (LBO) – Sri Lanka’s conglomerate Hayleys Ltd’s credit outlook Thursday was downgraded to ‘AA (lka)’ by Fitch Ratings Lanka, to reflect the group’s weak earnings.Hayleys is one of Sri Lanka’s old conglomerates with diversified interest including the making and exporting fibre-based products, rubber gloves and coconut-based activated carbon, sale of agriculture-related equipment […]
‘s money markets tighten, pressure mounts on the exchange rate
June 1, 2006 (LBO) – After almost two years of excess liquidity, Sri Lanka’s inter-bank money markets are tightening up, as reserve money growth is arrested. This usually happens when net foreign assets fall due to an outflow of foreign exchange reserves, though a fall in domestic assets could also drive down reserve money. But […]
Winning Bets
June 1, 2006 (LBO) – John Keells Holdings Ltd., Sri Lanka’s second-largest quoted company, had a 34 percent rise in its full-year profit as gains from transport and property countered losses in tourism. Revenue rose 27 percent to 29.3 billion rupees, while net profits surged 34 percent to 3.05 billion rupees for the financial year […]
driving into poverty
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. The readers of this column are no strangers to Zimbabwe as we have tried to keep a regular update on what is happening […]
Collision course
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. Now things are so bad in Zimbabwe, that the country does not have forex to import security paper and ink to print notes. […]
Illegal Smoke
June 01 (LBO) – Ceylon Tobacco Company together with several hotel associations filed petitions in the Supreme Court on Thursday against proposed laws to clamp down on smoking. The petition challenges the constitutionality of the proposed National Authority on Tobacco and Alcohol (NATA) bill, which the company claims prohibits smoking in hotels and restaurants, CTC […]
De Mel to take charge of Sri Lanka one-day selection
LONDON, June 1, 2006 (AFP) – Sri Lanka’s chairman of selectors, Asantha de Mel is to take charge of selection for the one-day series with England later this month when he arrives for the five-match limited overs campaign. De Mel was widely regarded as having played a key role in former captain Sanath Jayasuriya’s decision […]
Sri Lanka president demands new plan to end bloodshed
June 1, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse urged political parties Thursday to develop a plan that involves giving some power to minority Tamils in exchange for peace, his office said.Rajapakse said he has asked majority Sinhalese political parties meeting here Friday to come up a plan to end violence with Tamil Tiger […]