Category: Economy and Markets
‘s balance of payments a boost
The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]
Tsunami aid gives Sri Lanka’s balance of payments a boost
The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s balance of payments into the black for the first six months of this year, the Central Bank said Monday. The flood of aid, private remittances and debt relief since Dec. 26 tsunami disaster, has hoisted Sri Lanka’s […]
‘s rating
Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. Fitch Ratings Lanka has upgraded Hatton National Bank or HNB to A (sri) from A-(sri), as its financial health is on the mend. A (sri) rating denotes a low expectation of credit […]
China revalues yuan; repegs to basket of currencies
China Thursday revalued its currency for the first time in about a decade, scrapping the peg to the dollar in favour of a basket of currencies.China Thursday revalued its currency for the first time in about a decade, scrapping the peg to the dollar in favour of a basket of currencies. The currency is now […]
Malaysia scraps dollar peg, ringgit now under managed float: official
KUALA LUMPUR, July 21 (AFP) – Malaysia has scrapped the ringgit currency’s seven-year-old peg to the dollar and will move to a managed float, central bank governor Zeti Akhtar said Thursday shortly after China revalued the yuan.KUALA LUMPUR, July 21 (AFP) – Malaysia has scrapped the ringgit currency’s seven-year-old peg to the dollar and will […]
‘s use of market based instruments
A member of the Monetary Board of Sri Lanka, representing the Treasury has criticized the use of market based monetary policy instruments.Treasury Secretary Dr P B Jayasundera said he had no faith in the efficiency of Sri Lanka’s financial system and said the country was blindly following market based monetary policy instruments. “Despite many financial […]
Tiger rebels warn of truce collapse, Sri Lanka says no return to war
Lanka’s Tiger rebels have warned that a truce brokered by Norway was at “grave risk” of collapsing even as the Colombo government said it had no intention of returning to war.Lanka’s Tiger rebels have warned that a truce brokered by Norway was at “grave risk” of collapsing even as the Colombo government said it had […]
Sri Lanka steps up probe into deaths of Tamil rebels
Sri Lanka has stepped up a probe into charges that security forces were involved in the killing of four Tamil rebels earlier this month in a bid to ease tension in the volatile northeast.Sri Lanka has stepped up a probe into charges that security forces were involved in the killing of four Tamil rebels earlier […]
Co-chairs of peace pull Sri Lanka up for soaring violence
Co-chairs of Sri Lanka’s peace process have rapped the government and Tamil Tiger rebels for escalating violence, warning that it could erode international support.Co-chairs of Sri Lanka’s peace process have rapped the government and Tamil Tiger rebels for escalating violence, warning that it could erode international support. The European Union, Japan, Norway and the United […]
Tigers seek direct foreign aid after Sri Lanka court blocks aid deal
Tiger rebels today asked the international donor community to fund them directly to help tsunami survivors after the Supreme Court effectively blocked a land-mark aid sharing deal.Tiger rebels today asked the international donor community to fund them directly to help tsunami survivors after the Supreme Court effectively blocked a land-mark aid sharing deal. The rebel […]
Refreshing the list of ministers
In a very quiet ceremony on Monday morning five cabinet ministers, a non cabinet minister and six deputy ministers took oaths before President Chandrika Kumaratunga.In a very quiet ceremony on Monday morning five cabinet ministers, a non cabinet minister and six deputy ministers took oaths before President Chandrika Kumaratunga. The new appointments filled in ministerial […]
Norway has no immediate plans to push new talks on Sri Lanka aid deal
Peace broker Norway denied a report it was planning to send envoys to Sri Lanka after a Supreme Court ruling effectively scuttled a deal to share billions of dollars in international tsunami aid with Tamil rebels. Peace broker Norway denied a report it was planning to send envoys to Sri Lanka after a Supreme Court […]