Category: Economy and Markets
Sri Lanka’s Central Bank leaves it policy rates intact
Sri Lanka’s Central Bank opted not to tinker with its policy rates ahead of a crucial Presidential poll on Thursday. Sri Lanka’s Central Bank opted not to tinker with its policy rates ahead of a crucial Presidential poll on Thursday. The repurchase rate, which drains money from the banking system, stands at 8.50 percent and […]
Sri Lanka PM skips rally amid suicide fears, campaign ends
Sri Lanka’s Prime Minister Mahinda Rajapakse skipped his final campaign rally amid fears of suicide bombings against presidential candidates on Monday.Sri Lanka’s Prime Minister Mahinda Rajapakse skipped his final campaign rally amid fears of suicide bombings against presidential candidates on Monday. Police said the premier kept away from the meeting while his main challenger, Opposition […]
Economy and peace choices for Sri Lankans at key vote
Sri Lanka’s presidential election this week has turned into a vote on the country’s distressed economy and the troubled peace process, with the two main contenders diverging sharply on the major issues.Sri Lanka’s presidential election this week has turned into a vote on the country’s distressed economy and the troubled peace process, with the two […]
‘s borrowing costs go up, speculation of a possible rate hike ahead of polls
Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the Central Bank may hike its benchmark interest rates on Wednesday.Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the […]
Sri Lanka deploys troops amid pre-poll bomb fears
Sri Lanka deployed troops amid fears of suicide bomb attacks against presidential candidates staging their final campaign rallies Monday ahead of an election later this week.Sri Lanka deployed troops amid fears of suicide bomb attacks against presidential candidates staging their final campaign rallies Monday ahead of an election later this week. “Extraordinary measures” had been […]
Substantial reduction in election related violence
Election monitors report a “substantial” reduction in election related violence in Sri Lanka during the run up to Presidential elections so far. Election monitors report a “substantial” reduction in election related violence in Sri Lanka during the run up to Presidential elections so far. The Centre for Monitoring Election Violence (CMEV) recorded 389 complaints compared […]
Sri Lanka’s borrowing costs go up, speculation of a possible rate hike ahead of polls
Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the Central Bank may hike its benchmark interest rates on Wednesday.Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the […]
Marxist JVP claims its not opposed to private sector or foreign investors
The JVP (Janatha Vimukthi Peramuna) says it is changing fast and it no longer opposes the private sector or foreign investors.The JVP (Janatha Vimukthi Peramuna) says it is changing fast and it no longer opposes the private sector or foreign investors. Top rungers in the UPFA at an evening meeting at Colombo Hilton said anti-business […]
‘s daughter of destiny departs, reluctantly
Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the country at a crossroads.Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the […]
Sri Lanka’s daughter of destiny departs, reluctantly
Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the country at a crossroads.Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the […]
Kuwait lends US$ 20 mn for post tsunami reconstruction
The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas.The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas. The money will fund construction of educational facilities, student housing […]
Fighting cost push inflation with tight monetary policy
The debate over expansionary fiscal policy took a new turn with Finance Minister Sarath Amunugama making apparently contradictory statements in the budget, when defending himself against charges of igniting galloping inflation by printing money. “The Honourable Finance Minister’s statement is what I call an oxymoron,” says Dr. Harsha de Silva, a leading critic of the […]