Category:
Golden Years
Dec 13, 2008 (LBO) – With recessionary fears looming the need to secure one’s financial future has become even more important, though recent double digit inflation is eating almost all the disposable income of most average Sri Lankan, says a top analyst. You will have to go about setting a plan to achieve that objective. […]
Governance Issue
Dec 13, 2008 (LBO) – The Sri Lanka divisional council of the Chartered Institute of Management Accountants (CIMA) has been suspended over a governance failure, its parent body in the United Kingdom said. CIMA said its operations and services to members in Sri Lanka would continue as usual and it would take action to build […]
Myanmar to hold five-day gems auction: state media
YANGON, December 13, 2008 (AFP) – Military-run Myanmar announced Saturday it would hold an auction of precious gems in Yangon early next year, despite economic sanctions banning their international trade.Europe also intensified economic sanctions on the regime after a deadly crackdown on pro-democracy protesters last year, while Washington and human rights groups have urged gem […]
” for a day
Dec 12, 2008 (LBO) – The Sri Lanka rupee traded freely for possibly the first time in 2008, on last trading day of the week dealers said, while inter bank money market liquidity turned positive. Analysts say dealers would be treading warily when the market opens next week to see whether the central bank allow […]
Scientific Research
Dec 12, 2008 (LBO) – A Master Debater has once boasted that he normally employs three ploys to subdue his difficult customers. ˜When I find that my opponent is not easily surmountable, I use mathematics, philosophy and religion to subdue him’, he has confessed. ˜Mathematical equations frighten him, philosophical expressions confuse him and religious sayings […]
Major Sumatran quake, tsunami likely in decades: study
SINGAPORE, December 12, 2008 (AFP) – More than one million people on Indonesia’s Sumatra island are vulnerable to a massive earthquake and tsunami potentially more destructive than one which struck four years ago, scientists who released a study Friday warned. The quake and tsunami are likely within the next few decades, they said. On December […]
India industrial growth crashes into negative terrain
NEW DELHI, December 12, 2008 (AFP) – India’s industrial growth unexpectedly shrank for the first time in 15 years, data showed Friday, hit by the widening global recession that has weakened demand in Asia’s third-largest economy. Industrial production contracted by 0.4 percent in October after expanding by 12.2 percent in the same month a year […]
Sri Lanka takes more Tiger territory
December 12, 2008 (AFP) – Sri Lanka’s military has captured another key town from Tamil Tiger guerrillas in the north following heavy fighting that left scores dead and wounded on both sides, officials said Friday.Security forces took control of Terumarikandi, about eight kilometres (five miles) south of Kilinochchi, the political capital of the Liberation Tigers […]
Sri Lanka researchers told of dangers of romanticism
Dec 12, 2008 (LBO) – Researchers in Sri Lanka and elsewhere should not be guided by romanticism but approach an issue with an open mind and be prepared to change traditional ideas if their findings suggest otherwise, a top economist has said. Papers from Indian and Pakistani researchers as well as those from Sri Lanka […]
Sri Lanka October official reserves US$2.37bn
Dec 11, 2008 (LBO) – Sri Lanka’s foreign reserves had fallen to 2,374 million US dollars by the end of October from 3,185.4 million dollars in September the Central Bank said amid heavy intervention in forex markets. In October the central bank spent 587.70 million dollars intervening in the market, but November intervention volumes which […]
Sri Lanka rupee allowed gradual depreciation: central bank
Dec 11, 2008 (LBO) – Sri Lanka’s central bank says it is allowing a “gradual depreciation” of the rupee, after staying out of the market in early trading on Thursday, as the rupee dipped against the US dollar and recovered. “The central bank is not quoting so far, and the market is quoting on its […]
Sri Lanka rupee slides to 111.00 against green back
Dec 11, 2008 (LBO) – The Sri Lanka rupee traded at 111.00 rupees to the dollar Thursday with the market two way quote now at 111.00/30, with no official intervention in early trade, dealers said. “We have allowed a gradual depreciation of the rupee,” Central Bank chief economist Nandalal Weerasinghe said.“Other currencies have also depreciated […]