Author: LBO
World Bank gives economic management tips to Sri Lanka’s new policymakers
Sri Lanka’s new political leadership needs to instill investor confidence, halt galloping inflation and interest rates, if the island is to move beyond a five percent growth, the World Bank’s country chief said Saturday.Sri Lanka’s new political leadership needs to instill investor confidence, halt galloping inflation and interest rates, if the island is to move […]
President’s speech fails to inspire the market
President Mahinda Rajapaksa failed to inspire the weather dampened Colombo bourse in his inaugural speech in parliament on Friday. President Mahinda Rajapaksa failed to inspire the weather dampened Colombo bourse in his inaugural speech in parliament on Friday. Towards the market close, the All Share Index was trading 16.4 points lower at 2200, with turnover […]
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 […]
Sri Lanka’s new government takes shape
Sri Lanka’s President Mahinda Rajapakse on Wednesday swore in a 25 member cabinet and named 23 others for non-cabinet ranks, officials said.Sri Lanka’s President Mahinda Rajapakse on Wednesday swore in a 25 member cabinet and named 23 others for non-cabinet ranks, officials said. Wednesday’s ceremony also saw the appointments of 29 deputy ministers. Rajapakse retained […]
Sri Lanka’s new government to continue emergency rule
Sri Lanka’s new government will maintain a state of emergency and the national parliament will be asked to ratify the tough laws, officials said.Sri Lanka’s new government will maintain a state of emergency and the national parliament will be asked to ratify the tough laws, officials said. President Mahinda Rajapakse, who was sworn in Saturday […]
Tigers mute as Sri Lanka’s peace hopes dim
Sri Lanka’s Tamil Tigers remained mute on peace talks offered by the new president whom they had dubbed the “war candidate” while a pro-rebel newspaper said Sunday new talks were not on the cards.Sri Lanka’s Tamil Tigers remained mute on peace talks offered by the new president whom they had dubbed the “war candidate” while […]
Sri Lanka’s new president move to roll back budget could scare off investor, undo fiscal discipline
The unprecedented move to roll back Sri Lanka’s budget for 2006 could scare off investors and undo fiscal discipline if new President Mahinda Rajapakse’s subsidy-laden manifesto is translated into action, analysts said.The unprecedented move to roll back Sri Lanka’s budget for 2006 could scare off investors and undo fiscal discipline if new President Mahinda Rajapakse’s […]
Sri Lanka’s ‘daughter of destiny’ brings down curtain on dynasty
Sri Lanka’s President Chandrika Kumaratunga has relinquished her office, ending 11 turbulent years in power and bringing down the curtain on the Bandaranaike dynasty.Sri Lanka’s President Chandrika Kumaratunga has relinquished her office, ending 11 turbulent years in power and bringing down the curtain on the Bandaranaike dynasty. She came to power in 1994 promising to […]
Bloodbath on Sri Lanka’s tiny bourse
Sri Lanka’s tiny stockmarket plunged when trading opened on Friday as investor dumped stocks on news that premier Mahinda Rajapakse had taken an early lead in Thursday’s presidential poll, brokers said.Sri Lanka’s tiny stockmarket plunged when trading opened on Friday as investor dumped stocks on news that premier Mahinda Rajapakse had taken an early lead […]
Election promises set to cost Sri Lanka’s new president
Sri Lanka’s socialist president-elect Mahinda Rajapakse has set himself a challenge to deliver the raft of subsidies he promised voters in South Asia’s most liberal and war-battered economy, analysts said Friday.Sri Lanka’s socialist president-elect Mahinda Rajapakse has set himself a challenge to deliver the raft of subsidies he promised voters in South Asia’s most liberal […]
Colombo’s commercial hub closes shop early on election day
Colombo’s commercial hub closed shop by noon on Thursday along with most other businesses across the island as the country went to polls to elect Sri Lanka’s fifth president.Colombo’s commercial hub closed shop by noon on Thursday along with most other businesses across the island as the country went to polls to elect Sri Lanka’s […]
Sri Lanka’s former PM struggles to claim presidential prize
The frontrunner in Sri Lanka’s presidential vote, Ranil Wickremesinghe, claims credit for freezing a decades-long ethnic war but that has not translated into deep support among the Sinhalese majority crucial to victory.The frontrunner in Sri Lanka’s presidential vote, Ranil Wickremesinghe, claims credit for freezing a decades-long ethnic war but that has not translated into deep […]