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Sri Lanka private sector credit up in November
Jan 18, 2010 (LBO) – Sri Lanka’s private sector loans surged 11. 7 billion rupees to 1,188 billion in November 2009, as rates fell to levels that stimulated credit demand, central bank governor Nivard Cabraal said. The Central bank has also pushed banks to lend in former war torn northern and eastern areas approving new […]
Sri Lanka anchor currency inflation up
Jan 18, 2010 (LBO) – Consumer inflation in the United States, to whose currency the Sri Lanka rupee is tightly pegged, rose to 2.7 percent in December 2009 from a year earlier according to the latest data, as the island’s inflation also moved up. Sri Lanka has been quantity tightening from April 2009 by selling […]
Sri Lankan stocks close 0.97-pct down on retail profit taking
Jan 18, 2010 (LBO) – Sri Lankan shares closed lower Monday as retailers took profits, while Hatton National Bank (HNB) and DFCC Bank sold out of Lanka Ventures to Acuity Partners, an investment bank, brokers said. The All Share Price Index closed at 3,528. 55, down 0.97 percent (34.59 points while the Milanka index of […]
Liberty
Jan 18, 2010 (LBO) – The first part of a series of forex control relaxations announced in January will be implemented from February 01, Central Bank Governor Nivard Cabraal said. Cabraal announced a sweeping easing of existing exchange controls on January 04, as part of a monetary policy direction for 2010. Relaxation “We announced measures […]
Sri Lanka air cargo volumes hit life high in Dec 09
Jan 18, 2010 (LBO) – Cargo volumes at Sri Lanka’s main international airport have hit a life high in December 2009, topping a previous record in 2006, the island’s state-run national carrier which operates the terminal said. Sri Lankan Airlines which operates the cargo terminal at Bandaranaike International Airport in Katunayake said 23 airlines had […]
US hopes for better relations with Sri Lanka
WASHINGTON, January 18, 2010 (AFP) – Sri Lanka’s upcoming election is raising hopes in the United States for better relations after a chilly spell if the island turns the page on a bloody war that brought international opprobrium. The January 26 election comes months after troops killed the top leadership of the Tamil Tigers, ending […]
Key Bail
Jan 17, 2010 (LBO) – Sri Lanka’s Supreme Court has granted bail to the chief executive and a director of the failed Golden Key Credit Card Company and ordered more asset seizers to repay depositors, a media report said. The Sunday Island newspaper said Kavan Perera, chief executive of Golden Key and Saradha Sumanasekera, director […]
Disaster Relief
LEOGANE, January 16, 2010 (AFP) – A first shipment of UN food aid arrived on Saturday in the ruined Haitian town of Leogane, where street after street of homes and businesses was torn apart by this week’s devastating earthquake. Just 17 kilometres (10 miles) west of the capital Port-au-Prince, Leogane was close to the epicentre […]
Sri Lanka orders tighter security after campaign shootings
January 17, 2010 (AFP) – Sri Lanka’s president ordered police to step up security ahead of presidential elections after a second political activist was shot dead this month, an official said Sunday. The ruling party supporter was killed on Saturday in the north-western Puttalam district where several others were injured when they clashed with opposition […]
‘s Tamils wary of election spotlight
JAFFNA, January 17, 2010 (AFP) – Scarred by decades of war and official indifference, Sri Lanka’s minority Tamils are now being courted as political kingmakers — a shift that many of them view with bitter scepticism. With a presidential election just two weeks away, the two main candidates have been desperately wooing Tamil voters, offering […]
Sri Lanka central bank created high inflation and reduced wealth: economist
Jan 16, 2010 (LBO) – Sri Lanka’s central bank has created average inflation of 11. 0 percent and must take the blame for impoverishing the people, a senior monetary economist and former central banker has said. After Sri Lanka got independence from Britain, the country had registered growth slightly over that of India, but had […]
US, Norway deny funding ouster of Sri Lanka president
January 16, 2010 (AFP) – The United States and Norway on Saturday denied funding Sri Lanka’s main opposition to defeat President Mahinda Rajapakse’s re-election bid later this month. Norway, which was the peace broker until the Rajapakse administration withdrew from a faltering truce and escalated a military campaign against the Tigers early last year, denied […]