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Central Bank cuts 2005 GDP growth estimate to 5.3 % form 6% ealier
The Central Bank Friday revised its GDP growth estimates for 2005 from 6 percent before the tsunami to 5.3 percent. The Central Bank Friday revised its GDP growth estimates for 2005 from 6 percent before the tsunami to 5.3 percent. The downward revision accounts for the damages sustained by the tourism and fisheries sectors and […]
Pipe Dream?
The government of Sri Lanka, whose roads are among the world’s most dangerous, said it would crack down on rash driving after the island’s worst train-bus collision killed 35 people.The government of Sri Lanka, whose roads are among the world’s most dangerous, said it would crack down on rash driving after the island’s worst train-bus […]
More Please
Treasury Secretary Dr. P B Jayasundera Thursday said Sri Lanka was expecting some US$ 1.5 billion annually in donor commitments over the next three to five years.Treasury Secretary Dr. P B Jayasundera Thursday said Sri Lanka was expecting some US$ 1.5 billion annually in donor commitments over the next three to five years. The international […]
Nordic Goodwil
Norway has allocated Rs. 1.7 billion towards Sri Lanka’s post tsunami relief work, the Royal Norwegian Embassy said Thursday.Norway has allocated Rs. 1.7 billion towards Sri Lanka’s post tsunami relief work, the Royal Norwegian Embassy said Thursday. About Rs. 906 million of the funds, will be earmarked for humanitarian relief to provide temporary shelter, water […]
Tweaking Terms
Sri Lanka plans to change the terms of controversial petroleum asset sale deal, mandating a third player to secure fuel supplies from state-run Ceypetco’s Sapugaskande refinery.Sri Lanka plans to change the terms of controversial petroleum asset sale deal, mandating a third player to secure fuel supplies from state-run Ceypetco’s Sapugaskande refinery. “The government has given […]
Oil, fertiliser and fabric swelled Sri Lanka’s import bill by 10%
Oil, fertiliser and fabric swelled Sri Lanka’s import bill by 9.9 percent to US$ 1.2 bn in the first two months this year, with much of the growth – US$ 200 mn, spent on petroleum imports. Oil, fertiliser and fabric swelled Sri Lanka’s import bill by 9.9 percent to US$ 1.2 bn in the first […]
Bucking the trend
Dubai airline Emirates announced a 48.7 percent rise in annual net profit on Wednesday, citing growth in tourism and business travel through its Dubai hub, heavy investment in its fleet and a non-union workforce.Dubai airline Emirates announced a 48.7 percent rise in annual net profit on Wednesday, citing growth in tourism and business travel through […]
Exchange Issue
The Exchange Control Department of the Central Bank of Sri Lanka, has cautioned the public not to buy foreign exchange from moneychangers, a type of dealer who is only authorised to buy foreign exchange from the public. The Exchange Control Department of the Central Bank of Sri Lanka, has cautioned the public not to buy […]
Fair Game
The EDB is putting together a set of procedures and criteria for ethical labeling, with plans to later set up an independent standards body.The EDB is putting together a set of procedures and criteria for ethical labeling, with plans to later set up an independent standards body. Export Development Board Chief Rohantha Athukorala said Sri […]
Buddhist monk watches horror on highway as 35 perish in bus-train crash
A Sri Lankan video cameraman films the wreck of a passenger bus which collided with a train near the town of Polgahawela, some 80 kilometres (50 miles) northeast of Colombo,27 April 2005. At least 33 people were killed and 30 were wounded when a train ploughed into a bus at a level crossing in northern […]