Category: Economy and Markets
Sri Lanka hopes to keep budget gap below 9%
The Sri Lankan government expects its budget deficit to be less than 9% of gross domestic product in 2005, helped by steady revenue growth, the country’s treasury secretary said Wednesday.The Sri Lankan government expects its budget deficit to be less than 9% of gross domestic product in 2005, helped by steady revenue growth, the country’s […]
Sri Lanka takes stock on total debt profile
Sri Lanka hopes to use its upcoming sovereign rating to retire some old expensive foreign currency debt and streamline its borrowing programme, Treasury Secretary said Wednesday. Sri Lanka hopes to use its upcoming sovereign rating to retire some old expensive foreign currency debt and streamline its borrowing programme, Treasury Secretary said Wednesday. The island nation […]
Sri Lankan rupee heads down faster than expected
Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency.Sri Lanka’s exchange rate has started to depreciate faster despite the Central Bank using its reserves to defend the currency. From November 2003 the Sri Lanka rupee fell rapidly as government fiscal discipline slipped and dollar […]
UN says tsunami victims not properly consulted for reconstruction
Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction.Seven months after the tsunami, the UN says tsunami victims in Sri Lanka have not been properly consulted in tsunami reconstruction. “Since the tsunami last year, a greater part of post-tsunami relief, reconstruction and rehabilitation […]
Lease Tease
Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. Leasing companies and mortgage banks are raising more money through debt issues to take advantage of higher demand for credit and to cap their own interest rates. However […]
Sri Lanka faces Rs. 10 bn revenue shortfall due to recent populist tax cuts
Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. Over one and quarter billion rupees is likely to be lost due to government’s recent Value Added Tax (VAT) exemptions on milk-powder and LP Gas. A top Treasury source says […]
President condemns Jaffna deaths
Sri Lanka’s President Chandrika Kumaratunga has condemned the deaths of a police official and a barber in the northern town of Jaffna Sri Lanka’s President Chandrika Kumaratunga has condemned the deaths of a police official and a barber in the northern town of Jaffna The policeman was hacked to death by a mob after a […]
‘s northern Jaffna after top policeman killed
Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer and a sharp rise of tension in the area, the military said.Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer […]
Curfew in Sri Lanka’s northern Jaffna after top policeman killed
Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer and a sharp rise of tension in the area, the military said.Security was stepped up and a curfew imposed in Sri Lanka’s northern Jaffna peninsula following the murder of a senior police officer […]
‘s death
A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police chief Chandra Fernando said.A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police […]
VAT on milks foods and gas to be removed to reduce cost of living
The government announced it will remove VAT on milk foods and gas to reduce the cost of living but increased VAT on other items without announcing it.The government announced it will remove VAT on milk foods and gas to reduce the cost of living but increased VAT on other items without announcing it. “To address […]
Sri Lankan policeman killed by mob after barber’s death
A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police chief Chandra Fernando said.A senior police officer was murdered by a mob in northern Sri Lanka Thursday after a barber giving a hair cut was accidentally shot dead, police […]