Author: lbostgadmin
Sri Lanka’s central bank combats inflation with negative real rates
Sept 15 (LBO) – Sri Lanka’s central bank said it was not raising interest rates despite expanding money supply, rising inflation and real interest rates being negative. . The bank said it was holding the repo rate at which excess money is drained from the banking system at 9.125 percent, and reverse repo rate, the […]
’s money changers to up collections, but new tax pushes dollars underground
Sri Lanka’s central bank is asking the country’s licensed money changers to raise more dollars to be allowed to continue in business. They are expected to buy foreign exchange from tourists and those who return from working abroad and deposit it in commercial banks. According to their license, money changers cannot sell foreign exchange back […]
Hedging Option
Sept 14 (LBO) – Sri Lanka is looking at oil futures to hedge against increasing crude prices and control the island’s runway oil bill next year, officials said. Sri Lanka is hoping to bring about a more stable macro-economic framework in the next few years and one such move to do this is to take […]
Lack of cash pushes Sri Lanka to peace talks: analysts
COLOMBO, Sept 14, 2006 (AFP) – Sri Lanka appears to be dominating Tamil separatists on the battlefield, but a dwindling war chest may have forced it to enter peace talks ordered by foreign donors, analysts and diplomats say. “There is no doubt that the military enjoys the upper hand in current battles,” says retired air […]
Ten killed in Sri Lanka amid fresh violence
VAVUNIYA, Sri Lanka, Sept 14, 2006 (AFP) – At least 10 people have died in fresh violence in Sri Lanka, officials said Thursday, despite an agreement among the island’s warring parties to talk peace. Three migrant workers from Sri Lanka’s majority Sinhalese community were gunned down in an open field in the town of Vavuniya, […]
Donor countries cut funding for Sri Lanka de-mining Report
Sept 14 (LBO) – Donor countries have withdrawn funding for de-mining in Sri Lanka until the government shows more commitment to signing a treaty banning landmines. A Landmine Monitor Report for 2006 launched earlier this week, says funding for de-mining has been steadily falling over the past few years as Sri Lanka is not signatory […]
Oil prices likely to remain high through 2007: IMF
SINGAPORE, Sept 14, 2006 (AFP) – The strong US and Chinese economies as well as an array of supply issues look set to keep oil prices high next year, with markets pointing to a price of 70-75 dollars a barrel, the IMF said Thursday. The International Monetary Fund warned that a further escalation in oil […]
Member ID
Sept 14 (LBO) – The Hayley™s group said Thursday that it had tied up with Bartronics India Limited to develop and market identification devices such as Barcodes and Smart Cards. The products like Radio Frequency Identification Devices and other data capturing and security solutions, will be marketed through Hayley™s logistics subsidiary Logiventures Ltd. These solutions […]
Settling Debts
Sept 14 (LBO) – Sri Lanka’s private port operator South Asia Gateway Terminals said Thursday that it has raised 48 million dollars through a syndicated loan facility, to refinance old debt. As at end August, volumes handled at SAGT was up 36.5 percent over last year, to 853,883 TEU’s, with high growth in lower margin […]
” talks
Sept 13, 2006 (AFP) – A Sri Lankan official denied on Wednesday the government had agreed to unconditional talks with Tamil Tiger rebels, and accused peace broker Norway of failing to consult with Colombo before making any announcement.Earlier peace talks aimed at ending three decades of ethnic bloodshed came to a halt in April 2003 […]
Blast injures 16 in northern Sri Lanka town
VAVUNIYA, Sept 13 (AFP) – A powerful explosion ripped through a chicken market in Sri Lanka’s northern town of Vavuniya on Wednesday, wounding 16 civilians, police and witnesses said. Police said they believed the rebel Liberation Tigers of Tamil Eelam (LTTE) exploded a grenade inside the market. “We suspect the Tigers were behind the attack,” […]
‘t commits to talks
COLOMBO, Sept 13, 2006 (AFP) – The Sri Lankan government said Wednesday it was committed to proposed peace talks with Tamil rebels aimed at ending an upsurge in bloodshed since December that has left more than 1,500 people dead. The nation’s top peace official, Palitha Kohona, said the government was now working on possible dates […]