Category: Economy

The Asian Development Bank revised growth targets downwards to 5 percent this year and 5.5 percent in 2005, providing also that politics does not derail economic reform.rnrn A persistent drought, reliance on expensive thermal power and a slowdown in economic and key legislative reforms due to the elections were largely to blame, ADB said in […]

Officials in Kumaratungas Freedom Alliance said four members of the Marxist JVP, or Peoples Liberation Front took their oaths while another four were sworn in as deputy ministers. rn rnThe inductions raised to 35 the number of ministers in the cabinet. rn The JVP said they accepted a compromise offered by Kumaratunga to end a […]

The Norwegian government will send a high level team on Saturday to explore possibilities of reviving the stalled peace process.The delegation will include Deputy Foreign Minister Vidar Helgesen and Special Envoy Erik Solheim, the Norwegian Embassy said Wednesday.rn rnDuring their stay, the team will meet President Chandrika Kumaratunga and S P Thamilselvan the Political Wing […]

Norway said that it had conditionally agreed to resume its role as mediator between the government and armed rebels in Sri Lanka, at the request of President Chandrika Kumaratunga. In a statement on Friday, the office of Norwegian Prime Minister Kjell Magne Bondevik said it would only resume its work if the Tamil Tiger guerrilla […]

The Jathika Hela Urumaya (JHU) says it is ready to work with the Alliance government on a clean slate and support issues in Parliament on a case-by-case basis. The clergy however did not support the governments first test in Parliament in appointing a Speaker yesterday on the claims that two of its members were influenced […]

The vote to appoint a Speaker to the new Parliament just went into a third round, with the second round scrapped due to pandemonium in parliament. The second vote was initially held up when Alliance MPs staged a sit in, in the centres of the Parliament Chamber in protest to UNP members revealing their vote.rn […]

The vote to elect the speaker to the new Parliament closed minutes ago, with initial reports indicating the race between the two key candidates was neck and neck. Sources in parliament say the seven Saffron robed ministers abstained from the vote and only the two lquote missing monks voted with the UPFA.rn rnHectic political manoeuvring […]

Voting for the speaker of Sri Lankas new parliament ended in a tie between candidates put up by the minority government and the opposition, an official said, adding that a fresh ballot would be held. rnParliament secretary general Priyani Wijesekara said after the vote that government candidate, Communist Party general secretary D.E.W. Gunasekara and opponent, […]

The second vote has reportedly come to a standstill as Alliance MPs lounge in the centres of the Chamber in protest to UNP members revealing their vote to party frontliners.Sources say, the UNP MPs action was to reassure Party leaders of their support to their candidate for Speaker.rn rnSources say at one point one Alliance […]

The second round vote recommenced in Parliament today, after temporarily being help up by Alliance MPs in protest to UNP members revealing their vote to party frontliners.rnSources in Parliament earlier reported that the second vote has come to a standstill as Alliance MPs staged a sit in, in the centres of the Parliament Chamber in […]

The UNF candidate for Speaker D J M Lokubandara scraped through to the top seat in parliament after a late evening third round vote. The deadlock was broken by two JHU members who exercised their vote in the eleventh hour to neutralize a controversial move by two of their members to vote for the government […]

The situation in Parliament has taken another dramatic turn as some MPs drift away from the Chamber, a little after the second vote recommenced. Sources in Parliament say no decision or the next curse of action has been announced.rn rnIt is understood that some MPs still remain within the Chambers. rn rnThe second round vote […]