Category: Economy

Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import bill cost the cashed starved treasury an extra US$ 372 mn, the Central Bank said Monday.Sri Lanka’s trade deficit ended 2004 on a hard bump, widening by US$ 677 mn, as a hefty petroleum import […]

Two months after the tsunami the United Nations (UN) says rehabilitation aid from the international community is slowing down.Two months after the tsunami the United Nations (UN) says rehabilitation aid from the international community is slowing down. The UN reports that although aid pledges from the rest of the world to rehabilitate tsunami wrecked countries […]

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 […]

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 […]

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 […]

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 […]

Sri Lanka is struggling to cope with a flood of tsunami food aid and has begun distributing perishables even among those unaffected by the disaster, social services minister Sumedha Jayasena said Friday.Sri Lanka is struggling to cope with a flood of tsunami food aid and has begun distributing perishables even among those unaffected by the […]

The Sri Lankan obsession with doctors, lawyers and engineers is finally telling on the local labour market. The Sri Lankan obsession with doctors, lawyers and engineers is finally telling on the local labour market. “Parents still educate children with the very narrow view point of making them doctors, lawyers or engineers,” says Kamal Abeysinghe, Treasurer […]

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 […]

The JVP said on Thursday that it will oppose any move by the government to go for talks on an interim administration with the LTTE.The JVP said on Thursday that it will oppose any move by the government to go for talks on an interim administration with the LTTE. “We will take whatever action necessary […]

Foreign investment in Sri Lanka hit a record of 4 million last year, a 11% rise over the previous year, facilitated by relative peace on the island after decades of ethnic war.Foreign investment in Sri Lanka hit a record of $234 million last year, a 11% rise over the previous year, facilitated by relative peace […]

Peace broker Norway Tuesday failed to get Sri Lanka’s Tamil Tiger rebels to agree on a coordinated tsunami relief plan with the government seen as crucial for reviving stalled peace talks, officials said.Peace broker Norway Tuesday failed to get Sri Lanka’s Tamil Tiger rebels to agree on a coordinated tsunami relief plan with the government […]