Category: Economy and Markets

Sri Lanka Friday named a former United Nations disarmament chief to spearhead new peace talks with Tamil Tiger rebels.Jayantha Dhanapala, a UN undersecretary general for disarmament affairs until last year, was named secretary general of the governments “peace secretariat,” President Chandrika Kumaratungas office said.rn rnDhanapala, a Sri Lankan, was also named a senior adviser to […]

Cabinet spokesman, Reginald Cooray says the sweeteners are aimed at those who have put in a minimum five-years of service.rn rnCooray said those who put in between five and twelve years of service will get Rs. 250 allowance each month, irrespective of rank.Military servicemen who have between 12-22 years of service will get Rs.500 per […]

Relations between the police and the public are in the dumps. In fact Sri Lankans see the police as the most corrupt public institution in the country. Now Norway is spending millions to find out what went wrong with public-police relations.A 2001 public perception survey by Transparency International Sri Lanka (TISL) showed that the police […]

Norways foreign minister met with the top Tamil Tigerrnleader Tuesday in efforts to revive peace talks between the Sri Lankanrngovernment and the guerrillas that stalled a year ago.rnThe meeting between Jan Petersen and Tiger chief Velupillai Prabhakaranrnin northern rebel-held Kilinochchi came amid concerns that a recent spate of killings may jeopardize Sri Lankas fragile cease-fire […]

Sri Lankas trade deficit for February contracted marginally, on the back of a lower import bill and a drop in apparel sector revenues, the Central Bank said Monday.Trade deficit for February fell to US$ 90 mn from US$ 119 mn in 2003, bringing the cumulative deficit for Jan-Feb down to US$ 242 mn.rn rnEXPORTS rn […]

Prime Minister Mahinda Rajapakse, has told the BBC that peace talks with Tamil Tigers rebels will resume before the end of July.Rajapakse told the BBC Sinhala service that the opposition United National Party has already said that it will support the negotiations. rn rnRajapakse was speaking after meeting the Norwegian Foreign Minister Jan Petersen in […]

Top donors like the World Bank and the IMF say Constitutional reforms without a two-third majority in the parliament will not affect their lending program to the country. However, analysts pointed out that any attempt at tinkering with the Constitution without a two-thirds majority in parliament could lead to political uncertainty, which will directly affect […]

Suspected Tamil Tigers shot dead a soldier in eastern Sri Lanka after the rebels warned that Norways renewed efforts to broker peace in the island were in jeopardy, a local official saidThe victim, a member of an intelligence unit, was taken off of a bus and killed in broad daylight near the town of Batticaloa, […]

The services sector made the biggest contribution to economic growth last year.The sector that accounted for a little over forty percent of economic activity when the country adopted a market economy, today accounts for nearly 55 percent of the countrys GDP.rn rnOver 54 percent of the countrys GDP is accounted for by the service sector. […]

Former Sri Lankan cricket captain Arjuna Ranatunga Friday mended fences with President Chandrika Kumaratunga and was sworn in as deputy minister of industries, tourism and investment promotion.rnOfficials said Ranatunga, 40, who refused to be sworn in last month unless he was given the sports ministry, had his appointment confirmed at a ceremony held at Kumaratungas […]