All Blogs
Inflationary expectations low this year – poll
Apr. 12 (LBO) – An online poll of LBO readers has shown that inflationary expectations for 2005 are low.Low future expectations have imported implications for prices as well as interest rates. High inflationary expectations makes people behave in ways that force inflation up, such as demanding higher wages, or raising prices of output in expectation […]
New blast pushes death toll to 21 and dims Sri Lanka peace hopes
Apr. 12 (AFP) – International concern mounted for Sri Lanka’s peace efforts Wednesday as the third landmine attack in as many days raised the death toll to 21 and dimmed prospects for truce talks due next week.Two policemen died in a suspected Tamil Tiger landmine blast in the restive northeast on Wednesday as peace brokers […]
US, Norway, condemns the latest acts of violence in Sri Lanka
Apr.12 (LBO) – The governments of United States and Norway Wednesday condemned the latest round of violence in Sri Lanka and urged both parties to honour the ceasefire agreement. -LBO Newsdesk: LBOEmail@ “The United States condemns in the strongest possible terms the recent terrorist attacks carried out by the Liberation Tigers of Tamil Eelam (LTTE) […]
Two killed in Sri Lanka landmine blast
Apr. 12 (AFP) – At least two policemen were killed and another two wounded when their truck was caught up in a landmine blast in northeastern Sri Lanka on Wednesday, officials said. The victims were on their way to the port town of Trincomalee to buy provisions for policemen stationed further north of the main […]
Foreign remittances keep Sri Lanka floating
Apr.12 (LBO) – Sri Lanka’s balance of payments (BOP) has recorded a US$142 million surplus for the three months to March, the Central Bank said Wednesday as it maintained key interest rates for the fourth straight month. The balance of payments is a record of the island’s total payments to foreign countries, including the cost […]
Bond traders divided over a change in Sri Lankan interest rates
Apr.11 (LBO) – Sri Lanka’s Central Bank is unlikely to cut interest rates this month, though some traders are expecting a 25 basis point cut. -Mel Gunasekera: mel@ The repurchase rate currently stands at 8.75 percent and the reverse repurchase rate is at 10.25 percent. The repurchase rate is the return on cash deposited by […]
Asian Foray
SINGAPORE, Apr.11 (AFP) – India’s sixth largest private bank, UTI Bank Ltd, opened its first international branch in Singapore Tuesday, marking the first step in plans to stamp its footprint in Asia. “This marks the onset of our international operations, as a response to the growing globalisation of the Indian economy,” said UTI Bank chairman […]
Indian cricket board suspends former boss Dalmiya
NEW DELHI, Apr.11, 2006 (AFP) – Former world cricket chief Jagmohan Dalmiya was on Tuesday suspended from the Indian board he once ruled on charges of misappropriation of funds.The Board of Control for Cricket in India (BCCI) said in a statement that Dalmiya, 65, would not take part in its activities till a probe into […]
After Test pain, Jayasuriya eyes World Cup glory
Apr.11 (AFP) – Sanath Jayasuriya may have experienced only pain and disappointment in his farewell Test, but he hopes the cricketing gods will smile on him at the World Cup next year.The former Sri Lankan captain says his retirement from Test cricket will help him focus on one-dayers and he will do his best to […]
Returning Sense
Apr.11 (LBO) – Sri Lanka’s finance ministry says fuel subsidies are placing an unsustainable burden on the exchequer; in a move analysts expect to be a precursor to an upcoming round of retail fuel price hikes. “In 2005, the government had to spend Rs25 billion to sell fuel below cost,” a statement from the Ministry […]