Author: Asantha Sirimanne
Sri Lanka to publish accurate private savings number
Apr 10, 2013 (LBO) – Sri Lanka will consider publishing an accurate number for private savings from next year, separating out state enterprises which are lumped together as ‘private’ firms at the moment, officials said.Domestic savings are made up from central government savings, state enterprise and private entities. A deficit in the current account of […]
Sri Lanka has to keep inflation in mid single digits to grow: CB Governor
Sept 21, 2012 (LBO) – Sri Lanka has to keep inflation in mid single digits allowing interest rates to be in single digits helping keep annual economic growth around 8. 0 percent, Central Bank Governor Nivard Cabraal said. The index has briefly moved above mid single digits in the past few months peaking at 9. […]
Sri Lanka power utility battles monsoon failure
Sept 09, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board which has been badly hit by a failure of the island’s main monsoon is expecting about 6 billion rupees of losses in 2011, due to extra thermal generation. Peak Management Sri Lanka’s evening peak load is about 2,000MW now, without counting mini-hydro capacity. The […]
Sri Lanka among Asian countries struggling with capital inflows: IMF official
Feb 26, 2011 (LBO) – Sri Lanka is among Asian nations struggling with capital inflows driven by excessive money printed in advanced nations, raising the risks of high inflation and asset booms, a senior International Monetary Fund official said. “Sri Lanka is one country that has faced a surge in capital flows,” IMF deputy managing […]
Sri Lanka reservoirs may need larger sluice gates, canals
Feb 14, 2011 (LBO) – Sri Lanka’s reservoirs including those planned or under construction may have to be re-designed with larger spill gates and canals to evacuate excess water following recent rare floods in quick succession this year, officials said. Sri Lanka’s Mahaweli river valley agency, which controls 12 large reservoirs says its network is […]
US should stay off further stimulus: John Taylor
Aug 26, 2010, Palo Alto (LBO) – Though US economic growth is ‘fizzling out’ there is unlikely to be a double dip recession and new ad hoc stimulus measures should be avoided to give a sense of stability for economic agents to act, a top monetary economist has said. “My own view is that for […]
Sri Lanka leisure industry in boom but profits still elusive
July 20, 2010 (LBO) – Sri Lanka’s hoteliers say 10 billion US dollars have to be invested to more than double the country’s hotels rooms to 35,000 by 2016 to cater to an expected 2.5 million tourists, but the journey is not a cake walk. Investment Plans Sri Lanka’s Amaya Leisure says it wants to […]
Sri Lanka Jetwing eyes East Asia from Vietnam base
Mar 29, HANOI (LBO) – With a firm foothold in Vietnam, Sri Lanka’s Jetwing leisure group is looking to expand further into fast growing tourism markets in Laos and Cambodia, an official said. Jetwing Indochina Company, a joint venture with a local group which already has leisure interests including Vietnam’s Buffalo Tours, is building a […]
Sri Lanka and Vietnam can build stronger economic links: envoy
HANOI, Mar 27, 2010 (LBO) – Sri Lankan businesses have opportunities to get into the service sector in fast growing Vietnam while benefiting from Vietnamese agricultural technology and trade, the island’s envoy to Hanoi said. The Sri Lanka mission here and Vietnamese authorities and business chambers are putting together a trade delegation to visit the […]
Sri Lanka loosened monetary policy without damage: IMF
HANOI, Mar 23, 2010 (LBO) – Sri Lanka was among the countries that ran counter-cyclical monetary policy in 2009 without damaging fallouts but low income Asian nations have to invest more, International Monetary Fund officials said. Sri Lanka is estimated to have grown by about 3. 5 percent in 2009 recovering from a slump from […]
Sri Lanka expects more support from multilateral lenders: Treasury chief
HANOI, Mar 22, 2010 (LBO) – Sri Lanka is looking for more flexibility and backing from multilateral lenders as the country emerges from a war and a global crisis and is planning sustainable growth for the future, a top official said. IMF only lends money to the central bank to boost its reserves and budgetary […]
IMF Vietnam forum debates post-crisis way forward for developing Asia
HANOI, Mar 22, 2010 (LBO) – Government officials, international financial institutions and policy researchers are discussing developing Asia’s response to the global crisis and the way ahead for lower poverty and growth at a forum in Hanoi Monday. Sri Lanka’s finance secretary P B Jayasundera, Nepal’s minister of finance, Surendra Pandey and advisor to Bangladesh’s […]