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Hot Water
Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins.Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins. Lanka IOC […]
Tigers to set the course for Sri Lanka’s new government
Sri Lanka’s new hawkish president is to make a policy statement pledging prosperity, but analysts and diplomats say they are focusing on a speech by the Tamil rebel leader this weekend that could fan fears of a slide back to civil war.Sri Lanka’s new hawkish president is to make a policy statement pledging prosperity, but […]
‘s new government
Sri Lanka’s new hawkish president is to make a policy statement pledging prosperity, but analysts and diplomats say they are focusing on a speech by the Tamil rebel leader this weekend that could fan fears of a slide back to civil war.Sri Lanka’s new hawkish president is to make a policy statement pledging prosperity, but […]
Sri Lanka seeks Supreme Court approval to present a new budget
Sri Lanka plans to shortly seek Supreme Court approval to table a new budget before parliament on Dec.8, cabinet spokesman Nimal Siripala de Silva said.Sri Lanka plans to shortly seek Supreme Court approval to table a new budget before parliament on Dec. 8, cabinet spokesman Nimal Siripala de Silva said. In an unprecedented move, President […]
New Master
Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal discipline and scare off investors. Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal […]
Auction Block
The government is planning to sell more than a billion rupees worth of land via the Colombo Stock Exchange, the newly re-appointed Trade Minister Jeyeraj Fernandopulle said.The government is planning to sell more than a billion rupees worth of land via the Colombo Stock Exchange, the newly re-appointed Trade Minister Jeyeraj Fernandopulle said. The 226 […]
New Motherboard
Sri Lanka will bring in new laws next year to set up a new Reconstruction and Development Authority to speed up rebuilding efforts in tsunami-hit areas, officials said.Sri Lanka will bring in new laws next year to set up a new Reconstruction and Development Authority to speed up rebuilding efforts in tsunami-hit areas, officials said. […]
Bullish Sentiment
Dialog Telekom Ltd, Sri Lanka’s largest cellular operator said Thursday that its net profits for the third-quarter jumped 42 per cent as it aggressively expanded its subscriber base. Dialog Telekom Ltd, Sri Lanka’s largest cellular operator said Thursday that its net profits for the third-quarter jumped 42 per cent as it aggressively expanded its subscriber […]
Minister quits as Marxists, monks kept out of new Sri Lanka cabinet
Sri Lanka’s new president on Wednesday set up a 25-member cabinet which excluded hard-line allies from the Marxist and Buddhist monks, immediately sparking a resignation by a dissident minister. Sri Lanka’s new president on Wednesday set up a 25-member cabinet which excluded hard-line allies from the Marxist and Buddhist monks, immediately sparking a resignation by […]
UNP is claiming political victimisation of UNP supporters
Sri Lanka’s main political opposition, the UNP is claiming political victimisation of UNP supporters after Presidential elections.Sri Lanka’s main political opposition, the UNP is claiming political victimisation of UNP supporters after Presidential elections. The UNP told journalists on Thursday that hundreds of UNP supporters in state institutions – mainly the Ceylon Petroleum Corporation and the […]