Category: Economy and Markets
Sri Lanka rate hike not enough to boost rupee
Sri Lanka’s central bank sent a powerful message to the local markets Tuesday when it hiked interest rates unexpectedly to keep rising inflation from skyrocketing out of control.Sri Lanka’s central bank sent a powerful message to the local markets Tuesday when it hiked interest rates unexpectedly to keep rising inflation from skyrocketing out of control. […]
IMF warns Sri Lanka against busting budget targets
The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the economy despite elections this year. The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the […]
Sri Lanka president vows to share power with Tamils to end bloodshed
Sri Lanka’s President Chandrika Kumaratunga has pledged to turn her embattled republic into a federal state and share power with minority Tamils in a bid to end decades of ethnic bloodshed, despite a rebellion in her own party. Sri Lanka’s President Chandrika Kumaratunga has pledged to turn her embattled republic into a federal state and […]
‘s address to the Asia Society in New York
“Peace requires consensus and joint action by the major political parties” President at NY’s Asia Society “Peace requires consensus and joint action by the major political parties” President at NY’s Asia Society Full text of the President’s address; It is a pleasure to be here at the Asia Society once again. Over the past eleven […]
‘s upcoming debenture gets AA (sri) rating
Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday.Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday. The bank initially plans to raise Rs.1.0 billion with an option to […]
Sri Lanka’s Central Bank raises policy rates
Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign in galloping inflation Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign […]
Sri Lankan presidential poll turns into vote on peace process: analysts
Pre-poll pacts by the prime minister have effectively turned Sri Lanka’s presidential vote into a referendum on Norway’s peace bid and cast doubts on a 3.2 billion dollar foreign aid package for tsunami recovery, analysts said. Pre-poll pacts by the prime minister have effectively turned Sri Lanka’s presidential vote into a referendum on Norway’s peace […]
‘s Commercial Bank to raise Rs. 1.5 bn in debt
Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term credit expansion, officials said Tuesday. Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term […]
Four men shot dead outside Colombo
Four men were shot dead today and their bodies dumped in a car parked inside a cemetery just outside the capital Colombo, police said. Four men were shot dead today and their bodies dumped in a car parked inside a cemetery just outside the capital Colombo, police said. The bodies were found at Dompe, about […]
Explosions at Sri Lanka fireworks factory kill three
At least three workers were killed Tuesday in explosions at a fireworks factory outside the Sri Lankan capital Colombo, police said.At least three workers were killed Tuesday in explosions at a fireworks factory outside the Sri Lankan capital Colombo, police said. Fire engines were rushed from the nearby international airport to douse the flames, said […]
‘s new government offers to maintain Sri Lanka peace bid
Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP.Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP. “After the new government is formed […]
Norway’s new government offers to maintain Sri Lanka peace bid
Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP.Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP. “After the new government is formed […]