Category: Economy and Markets

The Finance Ministry Wednesday set up a new office under its External Resources Department (ERD) to coordinate non-government organisations (NGO) post tsunami aid activities. The voluntary signup, ERD’s Kishan Theodore said, would help avoid duplication of effort and spread available resources around all affected areas. “Non-Governmental Organisations are encouraged to obtain the agreement of the […]

The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which had been heading for a major catastrophe, according to analysts.The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which […]

A Tamil Tiger leader was killed together with four other rebels in eastern Sri Lanka Monday in what appeared to be an internecine clash, government military officials said.A Tamil Tiger leader was killed together with four other rebels in eastern Sri Lanka Monday in what appeared to be an internecine clash, government military officials said. […]

Sri Lanka Tuesday expressed fears of a return to war after the slaying of a top Tiger rebel amid moves by peace broker Norway and foreign lenders to rebuild the war-ravaged and tsunami-hit nation.Sri Lanka Tuesday expressed fears of a return to war after the slaying of a top Tiger rebel amid moves by peace […]

The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which had been heading for a major catastrophe, according to analysts.The Indian Ocean tsunamis killed 31,000 people in Sri Lanka and caused unprecedented damage, but were also a blessing to its economy which […]

The government is hoping to decide the fate of previously approved and now invalid coastal building projects, including hotels, on Tuesday. The government is hoping to decide the fate of previously approved and now invalid coastal building projects, including hotels, on Tuesday. “We are meeting tomorrow (Tuesday) to decide what to do about coastal development […]

Hundreds of tsunami survivors in Sri Lanka took to the streets in southern Matara district to protest corrupt aid distribution, police said.Hundreds of tsunami survivors in Sri Lanka took to the streets in southern Matara district to protest corrupt aid distribution, police said. The demonstration came as the government admitted 70 percent of victims had […]

Sri Lanka’s top donors say the East coast will take up to 40 percent of the country spend on rebuilding, with the tsunami re-construction bill at a final US$ 1.5 bn. The Central Bank has estimated that the combined effect of the tsunami will shave off less than a percentage point of GDP this year. […]

Sri Lanka’s main Marxist party, which is part of the government, demanded a probe Tuesday into foreigners involved in tsunami relief and accused Tiger rebels of importing war-machinery under the guise of aid.Sri Lanka’s main Marxist party, which is part of the government, demanded a probe Tuesday into foreigners involved in tsunami relief and accused […]

Japan Tuesday urged Sri Lanka’s government and Tamil Tiger rebels to use the tsunami to unite and to push the Norwegian-backed peace process forward.Japan Tuesday urged Sri Lanka’s government and Tamil Tiger rebels to use the tsunami to unite and to push the Norwegian-backed peace process forward. Japan, the island’s largest foreign aid donor, said […]

Sri Lanka’s main Marxist party, which is part of the government, demanded a probe Tuesday into foreigners involved in tsunami relief and accused Tiger rebels of importing war-machinery under the guise of aid.Sri Lanka’s main Marxist party, which is part of the government, demanded a probe Tuesday into foreigners involved in tsunami relief and accused […]

Treasury Secretary says tsunami reconstruction over the medium term will be inflation neutral but humanitarian efforts will get priority now even if it affects prices.Treasury Secretary says tsunami reconstruction over the medium term will be inflation neutral but humanitarian efforts will get priority now even if it affects prices. Dr. P B Jayasundera says labor […]