Category:
Public Service
July 4, 2009 (LBO) – W A Wijewardena, widely regarded as one of the top economists the country has ever produced, retired from his post as deputy governor of Sri Lanka’s central bank Friday, after a 36 year career in public service. He has also chaired other task forces including one on the adoption of […]
‘s young brigade rattles Sri Lanka
GALLE, July 4, 2009 (AFP) – Teenage fast bowler Mohammad Aamer led Pakistan’s spirited new-look attack to bowl out Sri Lanka for 292 on the opening day of the first cricket Test here on Saturday. Rauf had Paranavitana caught by Misbah-ul Haq at first slip midway through the post-lunch session, before Younus dismissed Samaraweera through […]
Oil Drain
July 4, 2009 (LBO) – The Sri Lanka unit of the Indian Oil Corporation is running out of cash and may not be able to import the next consignment of oil as crude prices rise and taxes bite into revenue, an official said. Based on yesterday’s Singapore wholesale refined product prices released by the Central […]
‘s need for IMF wanes: Central Bank
July 4, 2009 (AFP) – Sri Lanka’s central bank chief said Saturday that the island could live without a major IMF bailout that had been delayed by the final stages of the government’s fight with Tamil Tiger rebels.The government had requested the 1.9-billion-dollar loan in March to help stave off its first balance of payments […]
Sri Lankan stocks down 2.13-pct during week
July 03, 2009 (LBO) – Sri Lankan shares fell Friday for the fifth straight day as small investors took profits mainly on blue chip counters, while high net worth, institutional and foreign investors played a waiting game, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.37 percent (9.02 points) to end […]
Infrastructure Finance
July 03, 2009 (LBO) – HSBC’s Sri Lanka unit is looking to finance a private container port to be built as part of an expansion of Colombo port, and post-war reconstruction projects in the island, a top official said. “We are looking to support investors bidding for the Colombo port expansion,” Nick Nicolaou, head of […]
Britain revises Sri Lanka travel warning
July 3, 2009 (LBO) – Britain has eased a travel advisory to Sri Lanka’s east but has warned of rising ant-British rhetoric amid an upsurge of nationalism and possible detentions of people of ethnic Tamil origin.“This has led to violent protests against the British High Commission and other diplomatic premises.” Though Tamil Tigers have been […]
Sri Lanka favours GM food: agriculture minister
July 03, 2009 (LBO) – Sri Lanka is not opposed to genetically modified (GM) food and is likely to allow their use with certain restrictions, a government minister has said.Hemakumara Nanayakkara, the non-Cabinet minister of agricultural development, said the government was consulting foreign experts on allowing GM food imports and cultivation of GM crops. He […]
Passion restored, Pakistan relish Sri Lanka tour
KARACHI, July 2, 2009 (AFP) – Pakistan start their Test series against Sri Lanka Saturday riding the wave of a feel-good factor after winning the World Twenty20 and giving their country a much-needed respite from bombs and battles.When Pakistan won the championship in England last month, the victory renewed the country’s passion for the game, […]
Injured Murali out of Pakistan Test
GALLE, July 3, 2009 (AFP) – Muttiah Muralitharan was on Friday ruled out of the first Test against Pakistan with a knee injury, dealing a huge blow to Sri Lanka’s bid to win the emotionally-charged series.The spin wizard hurt his patella tendon during training on Thursday and will sit out of the opening game of […]
Zimbabwe recovering under central bank competition; no inflation: IMF
July 3, 2009 (LBO) – Zimbabwe is starting to recover within months of the money monopoly of the Reserve Bank of Zimbabwe being broken, which allowed foreign currencies to compete against the hyperinflating domestic currency. In a ‘dollarized’ economy, transactions are conducted in foreign currency and people also save in foreign money and the government […]
Sri Lanka IMF loan depends on Executive Board: official
July 3, 2009 (LBO) – The award of a stand by loan for Sri Lanka by the International Monetary Fund (IMF) is awaiting approval of its executive board, which is yet to set a date to consider the application, an official said. “But discussions are continuing, and the finalization of the program, as with any […]