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Haphazard reform saddles Sri Lanka with skewed growth and persistent poverty.
Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report.Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report. “There has been enough growth in Sri Lanka to have already achieved the millennium development goals […]
Rail Run
The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. The Railway Dept. says it urgently needs to hike its fares to cushion a 10 percent rise in its recurrent costs. A raised salary bill and higher fuel cost compared to a year ago […]
Red Tape
The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists.The Sri Lankan public sector is one of the biggest in the region, with a ratio of 3.9 civil servants to every 100 people, say economists. “Sri Lanka has one […]
Norway embassy closes after anthrax scare
Sri Lanka’s peace broker Norway shut its embassy in Colombo Thursday after the diplomatic mission received a package containing a white powder suspected to be anthrax, police said. Sri Lanka’s peace broker Norway shut its embassy in Colombo Thursday after the diplomatic mission received a package containing a white powder suspected to be anthrax, police […]
FTA with Pakistan in honour of President’s visit
Pakistan and Sri Lanka will meet next week to tie up a free trade agreement between the two countries by the time Sri Lanka’s President pays a visit to Pakistan next year. Pakistan and Sri Lanka will meet next week to tie up a free trade agreement between the two countries by the time Sri […]
Sri Lanka banks on higher aid flows to prop its rupee and foreign reserves
Sri Lanka is banking on higher foreign aid inflows to lift the rupee from its doldrums and replenish country reserves that dissolved rather quickly after high crude oil prices blew a hole in its balance sheet.Sri Lanka is banking on higher foreign aid inflows to lift the rupee from its doldrums and replenish country reserves […]
Sri Lanka makes no change to its short term interest rates
The Central Bank kept its key short-term interest rates steady in December, following its monthly monetary policy announcement late Tue.The Central Bank kept its key short-term interest rates steady in December, following its monthly monetary policy announcement late Tue. The overnight repurchase (repo) and reverse repurchase (reverse repo) rates will remain at 7.5 percent and […]
Peddle Power
Bicycles will be brought under the local government’s fold again, with a draft legislation looking to tighten the chains on the industry.Officials say bicycles licenses, which went out of use in the mid 1990s will be brought back, to help regulate users, curb road accidents and the industry. Meanwhile, the draft legislation also hopes make […]
New Cap
Hatton National Bank, Sri Lanka’s largest privately held bank, said it was appointing R Theagarajah, as its new Chief Executive Officer from Jan. 1, 2005. Theagarajah, a Senior Deputy General Manager, has also been appointed to the bank’s main board with immediate effect. The bank has also appointed Ratna Sivaratnam – formerly Chairman of Aitken […]
Sri Lanka will drum up support for its tourism industry
Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March.Sri Lanka will drum up support for its tourism industry, with a band of international percussion artists beating it out in late March. The Tourist Board Chairman Udaya Nanayakara hopes the event will […]