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UNP to help minority government remain in power
The United National Party(UNP) says it will help Sri Lanka’s minority government, headed by President Chandrika Kumaratunga, to remain in power though the party has intensified calls for presidential elections by the end of the year.The United National Party(UNP) says it will help Sri Lanka’s minority government, headed by President Chandrika Kumaratunga, to remain in […]
Colombo’s street hawkers finding business in the busiest places
Colombo – Tuesday: This street hawker selling pineapples and many other like her mingle among JVP supporters gathered at the Lipton Circus on Tuesday protesting the proposed tsunami aid sharing proposal. The vendors who make an average Rs.500 a day say festivals, carnivals and protests are best for business, with sales more than doubling from […]
JVP says it will raise a fresh alliance
Colombo – Tuesday: The Alliance government’s key coalition partner the JVP on Tuesday said it would raise a fresh alliance to defeat President Chandrika Kumaratunga and the opposition United National Party if it broke away from the government on Wednesday. The JVP has given the President an Wednesday midnight ultimatum to withdraw a proposal to […]
Getting Creative
Sri Lanka’s micro finance institutions are looking at securitising their lending portfolio as low cost credit lines are drying up.Sri Lanka’s micro finance institutions are looking at securitising their lending portfolio as low cost credit lines are drying up. Sarvodaya, an indigenous non-governmental organization, is leading the way, with plans to raise Rs.100 million by […]
Credit Check
Sri Lanka opted to hike its key short term rates by 50 basis points to contain further increases in credit to the public and private sectors.Sri Lanka opted to hike its key short term rates by 50 basis points to contain further increases in credit to the public and private sectors. The Central Bank on […]
Nudged Up
Sri Lanka opted to hike its key short term rates by 50 basis points, taking the repo rate up to 8.25 percent. Sri Lanka opted to hike its key short term rates by 50 basis points, taking the repo rate up to 8.25 percent. The monetary board pushed up the repo rate, at which the […]
Tourist arrival to Sri Lanka change after the tsunami
Tourist arrival patterns to Sri Lanka show a shift from traditional Western European markets to regional markets after the tsunami. Tourist arrival patterns to Sri Lanka show a shift from traditional Western European markets to regional markets after the tsunami. “Arrivals from western Europe are still down.We are trying to revive them. But arrivals from […]
IT Works
The Education Ministry hopes to call for a larger budget allocation for IT related education in the national curriculum.The Education Ministry hopes to call for a larger budget allocation for IT related education in the national curriculum. The IT project is now largely funded though an ADB grant for developing secondary education in Sri Lanka. […]
Better Late?
The Ceylon Electricity Board (CEB) is trying to increase its fixed electricity charges by August.The Ceylon Electricity Board (CEB) is trying to increase its fixed electricity charges by August. “It is imperative that we increase prices or we will incur large losses.There is no alternative but to pass this on to consumers,” CEB General Manager, […]
Sri Lankan president braces for coalition split over Tamil aid deal
Sri Lankan plain clothes policemen forcibly carry away Buddhist monk Dambara Amila ending his fast to the death in Colombo, 15 June 2005. (AFP) Sri Lankan President Chandrika Kumaratunga braced Wednesday for the departure from government of a key coalition partner over plans for a tsunami aid sharing deal with Tamil Tiger rebels, officials said. […]
Marxist party readies to quit Sri Lankan coalition, police end monk fast
Sri Lankan plain clothes policemen forcibly carry away Buddhist monk Dambara Amila ending his fast to the death in Colombo, 15 June 2005. The monk was protesting government plans to enter into an aid sharing deal with Tamil Tiger rebels. Amila is supported by the government’s main coalition partner, the Marxist JVP, which has vowed […]
Comfy Zone
Sri Lanka’s central bank may have little choice but to do nothing on monetary policy in the next few months even as the economy, still reeling from last year’s tsunami and political turmoil, seeks a boost from lower interest rates. Sri Lanka’s central bank may have little choice but to do nothing on monetary policy […]