Category: Economy and Markets
The Finance Minance Minister’s eBudget goes in to the box
On Wednesday afternoon a beaming Finance Minister, Dr.Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget reading on Thursday.On Wednesday afternoon a beaming Finance Minister, Dr. Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget […]
‘s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
Deadlock in peace talks compounds Sri Lanka’s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
Further tax hikes on business and high income earners may top Thu. budget
Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget next week, with a series of new taxes targeting businesses and high-income groups expected to be at the top of the list.Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget […]
Finance Minister Sarath Amunugama says, the rising budget deficit forced the government to print money
Central Bank this week started to raise rates to stop rising inflation, caused by the government printing money. Central Bank this week started to raise rates to stop rising inflation, caused by the government printing money. But Finance Minister Sarath Amunugama says, the rising budget deficit forced the government to print money, and will attempt […]
Latest Norway bid to end Sri Lanka talks deadlock ends without breakthrough
Norway’s latest bid to salvage Sri Lanka’s faltering peace process ended without a breakthrough but the antagonists have pledged to continue to uphold a fragile truce, rebels and officials said Friday.Norway’s latest bid to salvage Sri Lanka’s faltering peace process ended without a breakthrough but the antagonists have pledged to continue to uphold a fragile […]
Central Bank blames rate hike on skyrocketing inflation
The Central Bank plucked up the courage to raise benchmark interest rates up by 50 basis points with immediate effect, putting an end to Sri Lanka’s 12 month honeymoon of low interest rates. The Central Bank plucked up the courage to raise benchmark interest rates up by 50 basis points with immediate effect, putting an […]
Tigers give new message on reviving Sri Lanka peace talks
Sri Lanka’s Tamil Tiger rebels Thursday said they conveyed a secret message to President Chandrika Kumaratunga through peace broker Norway on ending a 19-month deadlock on negotiations.Sri Lanka’s Tamil Tiger rebels Thursday said they conveyed a secret message to President Chandrika Kumaratunga through peace broker Norway on ending a 19-month deadlock on negotiations. The rebel […]
Sri Lankan PM to attend Arafat funeral
Sri Lanka’s Prime Minister Mahinda Rajapakse will attend the funeral of Palestinian leader Yasser Arafat, a spokesman said Thursday.Sri Lanka’s Prime Minister Mahinda Rajapakse will attend the funeral of Palestinian leader Yasser Arafat, a spokesman said Thursday. “The prime minister will be at the funeral although he had arranged to launch a new initiative for […]
The Central Bank raises its key short-term interest rates by 50 basis points with immediate effect.
After a 12-month lag, the Central Bank raised its key short-term interest rates by 50 basis points with immediate effect on Wednesday. After a 12-month lag, the Central Bank raised its key short-term interest rates by 50 basis points with immediate effect on Wednesday. The Repurchase (Repo) rate went up from 7.0% to 7.5% and […]
Sri Lanka’s weak currency slipped to another milestone on Mon., when the Japanese Yen equalised to the rupee
The yen touched base with the rupee on Monday as a balance of payments deficits notches higher and speculation of exchange controls continue to linger in the market.The yen touched base with the rupee on Monday as a balance of payments deficits notches higher and speculation of exchange controls continue to linger in the market. […]
Central Bank Governor Sunil Mendis says private sector members of the Monetary Board are not pushing to keep real interest rates negative
Central Bank Governor Sunil Mendis says private sector members of the Monetary Board are not pushing to keep real interest rates negative, and Board decisions are taken independently.Central Bank Governor Sunil Mendis says private sector members of the Monetary Board are not pushing to keep real interest rates negative, and Board decisions are taken independently. […]