Author: lbostgadmin
Final Run
Gulf Air said Monday that they would quit Sri Lanka by mid March this year, as soaring oil prices and stiff competition from other Middle East carriers puts the squeeze on operations.Gulf Air said Monday that they would quit Sri Lanka by mid March this year, as soaring oil prices and stiff competition from other […]
Peace secretariat chief asks MIGA to take a look at North East Sri Lanka
The head of the government’s peace secretariat says non – economic incentives are needed to push investment in the North East.The head of the government’s peace secretariat says non – economic incentives are needed to push investment in the North East. Peace Secretariat Chief Jayantha Dhanapala, has invited Multilateral Investment Guarantee Agency (MIGA) to look […]
A Haunted Bank
Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Currently, People’s Bank is the only large bank not meeting Central Bank’s minimum capital limits. The government re-capitalisation drive will require People’s Bank to pay […]
All for One
The International Accounting Standards Board (IASB) said countries would benefit by adopting International Accounting Standards. The International Accounting Standards Board (IASB) said countries would benefit by adopting International Accounting Standards. Uniform standards can help investors compare accounts and aid local companies to access international markets. “We have to come up with one single set of […]
Sri Lanka resurrect plans for a sovereign rating, to cash in on foreign investor interest in the post tsunami era
Sri Lankan government has resurrected plans for a sovereign rating, to capitalise on the goodwill of foreign aid and investments that’s flowing through, in the post-tsunami era. Sri Lankan government has resurrected plans for a sovereign rating, to capitalise on the goodwill of foreign aid and investments that’s flowing through, in the post-tsunami era. A […]
ADB pushes for publicly tradable securitised bonds in the capital market
Asian Development Bank (ADB) is pushing for publicly tradable securitised bonds in the capital market.Asian Development Bank (ADB) is pushing for publicly tradable securitised bonds in the capital market. The bank is to support a securitisation bill to parliament so that Special Purpose Vehicles or SPV’s used in these deals, can be set up as […]
Push Push
The government has pledged to bring the Securitization Act to parliament this year as part of the private sector development program agreed with the Asian Development Bank.The government has pledged to bring the Securitization Act to parliament this year as part of the private sector development program agreed with the Asian Development Bank. The ADB […]
’05 fiscal outlook
Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said.Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said. “Lower tourism receipts and a reconstruction-related […]
Painkillers
State owned Ceypetco says the Treasury will settle Rs.6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July.State owned Ceypetco says the Treasury will settle Rs. 6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July. Not allowed to […]
imf graph
IMF graph IMF graph Selected Economic and Social Indicators 2004 2005 2006 Pre- Post- tsunami tsunami GDP and inflation (%) Real GDP growth 5.2 6.0 5.3 6.0 Average inflation 7.6 10.5 12 7.5 Public finances (% of GDP) […]
The World Bank ups tsunami aid to Sri Lanka by US$ 75 mn to US$ 150 mn.
The World Bank ups tsunami aid to Sri Lanka by US$ 75 mn, taking its total contribution to re-building damaged coastal areas to US$ 150 mn.The World Bank ups tsunami aid to Sri Lanka by US$ 75 mn, taking its total contribution to re-building damaged coastal areas to US$ 150 mn. Donors estimate that Sri […]
World population 6.5 billion by July this year, says United Nations Population Fund.
The world’s population will hit 6.5 billion by July this year, says the United Nations Population Fund.The world’s population will hit 6.5 billion by July this year, says the United Nations Population Fund. “The world’s population will reach 6.5 billion by July and, despite lower expected fertility rates, is likely to reach 9.1 billion by […]