Author: lbostgadmin
Collision course
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. Now things are so bad in Zimbabwe, that the country does not have forex to import security paper and ink to print notes. […]
driving into poverty
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. The readers of this column are no strangers to Zimbabwe as we have tried to keep a regular update on what is happening […]
Winning Bets
June 1, 2006 (LBO) – John Keells Holdings Ltd., Sri Lanka’s second-largest quoted company, had a 34 percent rise in its full-year profit as gains from transport and property countered losses in tourism. Revenue rose 27 percent to 29.3 billion rupees, while net profits surged 34 percent to 3.05 billion rupees for the financial year […]
‘s money markets tighten, pressure mounts on the exchange rate
June 1, 2006 (LBO) – After almost two years of excess liquidity, Sri Lanka’s inter-bank money markets are tightening up, as reserve money growth is arrested. This usually happens when net foreign assets fall due to an outflow of foreign exchange reserves, though a fall in domestic assets could also drive down reserve money. But […]
Fitch downgrades conglomerate Hayleys Ltd
June 1, 2006 (LBO) – Sri Lanka’s conglomerate Hayleys Ltd’s credit outlook Thursday was downgraded to ‘AA (lka)’ by Fitch Ratings Lanka, to reflect the group’s weak earnings.Hayleys is one of Sri Lanka’s old conglomerates with diversified interest including the making and exporting fibre-based products, rubber gloves and coconut-based activated carbon, sale of agriculture-related equipment […]
‘s inflation rate climbs to 13.2% in May
May 31, 2006 (LBO) – Sri Lanka’s inflation rate for May rose as short supplies of consumer eatables like cream cracker biscuits, rice, bread, red onions, milk tea, fresh milk and dried chillies pushed prices up, the Census & Statistics Dept. said Wednesday. On a point-to-point basis inflation for May rose 13.2 percent over 9.2 […]
Petroleum Politics
May 31, 2006 (LBO) – Sri Lanka’s Energy Minister has set the stage to take back Ceylon Petroleum Corporation assets, currently vested with the Treasury. Officials from CPC will sit down with their treasury counterparts this week to push for another fuel hike to keep up with runaway world crude oil prices. Fowzie says CPC […]
Sri Lanka press polarised over European ban on Tigers
May 31, 2006 (AFP) – Sri Lanka’s media Wednesday reacted to the European ban on Tamil Tiger rebels largely along ethnic lines, but all agreed that the proscription should not lead to renewed war.Newspapers intended mainly for the island’s majority Sinhalese community welcomed the European Union ban Monday on the Liberation Tigers of Tamil Eelam […]
Sri Lanka Tigers may move funds through Malaysia, Singapore
KUALA LUMPUR, May 31, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels are believed to be channeling funds through Malaysia and Singapore to buy weapons in the region, Sri Lanka’s foreign minister said according to a report Wednesday. Mangala Samaraweera said in an interview with the New Straits Times that he had informed his Malaysian […]
Artillery duels along de facto front lines in Sri Lanka
May 31, 2006 (AFP) – Heavy artillery exchanges rocked northern Sri Lanka Wednesday, a day after the government ruled out military action to resolve a long-running ethnic conflict following a European ban on Tiger rebels.More than 600 people have been killed in Sri Lanka since December despite a truce arranged and put in place by […]
EU vows more action in Sri Lanka after Tiger ban
COLOMBO, May 31, 2006 (AFP) – The European Union, which earlier in the week banned Sri Lanka’s Tamil Tiger rebels, said Wednesday it was willing to take “further measures” to push the warring parties back to the negotiating table. A declaration by the EU presidency, currently held by Austria, said the ban on Tamil Tiger […]
Muralitharan told to carry on
NOTTINGHAM, May 31, 2006 (AFP) – Muttiah Muralitharan has been told to keep his remarkable career going for as long as possible by Sri Lanka team-mate Michael Vandort. Off-spin great Muralitharan has said in the build-up to this week’s third Test that he is determined to “go out in England on a high”, suggesting that […]