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Chinese currency adjustment hits Sri Lankan consumers
China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. China’s currency adjustment last week will trickle down to Sri Lankan consumers as another unwelcome price increase, say local businesses. “After the re-valuation of the yuan, the prices of Chinese exports increased by 12 percent,” […]
Sri Lanka PM wins party nomination for presidency
Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should be held, party sources said Wednesday.Sri Lanka’s ruling party has chosen Prime Minister Mahinda Rajapakse as its candidate for the presidency amid a deepening controversy over when the poll should […]
It’s Here
Sri Lanka on Tuesday signed up for over € 60 million worth of financial help from the German government for post-tsunami reconstruction work, the Finance Ministry said.The package includes a € 49 million (Rs. 5.9 billion) grant for post-tsunami rehabilitation and € 13 million (Rs.1.6 billion) due this year as debt repayments from Sri Lanka […]
‘s Here
Sri Lanka on Tuesday signed up for over € 60 million worth of financial help from the German government for post-tsunami reconstruction work, the Finance Ministry said.The package includes a € 49 million (Rs. 5.9 billion) grant for post-tsunami rehabilitation and € 13 million (Rs.1.6 billion) due this year as debt repayments from Sri Lanka […]
Call Back
The Appeal Court on Monday quashed Sri Lanka Telecom’s 2003 tariff increase, which raised monthly rentals to Rs.500. The Appeal Court on Monday quashed Sri Lanka Telecom’s 2003 tariff increase, which raised monthly rentals to Rs. 500. The ruling requires SLT to revert back to pre-2003 tariffs and refund the difference in its customers bills […]
Pumping Back
The government is to get Attorney General’s advice to take back a one third stake in the retail fuel sector held by the Treasury, and hand it back to state owned Ceypetco. The government is to get Attorney General’s advice to take back a one third stake in the retail fuel sector held by the […]
IMF raps Sri Lanka on fiscal transparency
The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday.The International Monetary Fund has rapped Sri Lanka for slipping up on fiscal transparency and poor reporting standards, in the latest country report released Tuesday. While there has been some progress, […]
Seylan Bank’s Rs. 1 bn debenture gets BBB+ (sri) rating
Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. The bank is issuing unsecured subordinated debt to meet beef up its capital. […]
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 Rs. 1 bn debenture gets BBB+ (sri) rating
Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. The bank is issuing unsecured subordinated debt to meet beef up its capital. […]
Traffic Jam
Honda Motor’s Sri Lankan agent is investing Rs.100 mn to increase its services capacity, but says taxes and duties could put the breaks on sales growth.Honda Motor’s Sri Lankan agent is investing Rs. 100 mn to increase its services capacity, but says taxes and duties could put the breaks on sales growth. Stafford Motors on […]
Going Native
New laws are in the pipeline to protect ‘traditional knowledge’, including teachings and skills of indigenous Veddah communities. New laws are in the pipeline to protect ‘traditional knowledge’, including teachings and skills of indigenous Veddah communities. The laws could still be two years in the making but a working paper put out by the National […]