Author: lbostgadmin

Apr 11, 2011 (LBO) – Sri Lanka’s commercial rents have risen in 2010 with occupancy levels picking up from a slump in 2009, which saw the end of a 30-year war the owners of a prominent Colombo property has said. Overseas Realty Ceylon Ltd, a unit of Singapore’s S P Tao group said occupancy at […]

Apr 11, 2011 (LBO) – An attempt by Sri Lanka’s state to deduct a two percent from workers’ salaries under to start a ‘pension scheme’ without any prior discussion with the workers themselves has come under heavy fire. The state which already deducts 8 percent from workers salaries for a state managed Employees Provident Fund, […]

Apr 11, 2011 (LBO) – Sri Lanka’s budget deficit fell to 7.9 percent of Gross Domestic Product in 2010 from 9.9 percent in 2009, Swarna Gunaratne, additional director of the central bank’s economic research department said. The deficit was better than the 8.0 percent of GDP that had been expected, she told a news conference […]

Apr 11, 2011 (LBO) – Reforming Sri Lanka’s loss-making public enterprises could help the country cope better with external shocks like high crude oil prices, the central bank has said. Adjusting domestic prices such as fuel to be more in line with international prices would reduce the burden on the budget of these enterprises, it […]

Apr 11, 2011 (LBO) – Maldives has broken its peg at 12. 85 to the US dollar effectively allowing the currency to depreciate over 15 rufiya to the US dollar under a 20 percent band within which the currency will be allowed to float. The International Monetary Fund said the move will help stabilize the […]