Category:
A Haunted Bank
Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Currently, People’s Bank is the only large bank not meeting Central Bank’s minimum capital limits. The government re-capitalisation drive will require People’s Bank to pay […]
Peace secretariat chief asks MIGA to take a look at North East Sri Lanka
The head of the government’s peace secretariat says non – economic incentives are needed to push investment in the North East.The head of the government’s peace secretariat says non – economic incentives are needed to push investment in the North East. Peace Secretariat Chief Jayantha Dhanapala, has invited Multilateral Investment Guarantee Agency (MIGA) to look […]
IMF: Rebuilding to pressure Sri Lanka ’05 fiscal outlook
Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said.Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said. “Lower tourism receipts and a reconstruction-related […]
imf graph
IMF graph IMF graph Selected Economic and Social Indicators 2004 2005 2006 Pre- Post- tsunami tsunami GDP and inflation (%) Real GDP growth 5.2 6.0 5.3 6.0 Average inflation 7.6 10.5 12 7.5 Public finances (% of GDP) […]
Painkillers
State owned Ceypetco says the Treasury will settle Rs.6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July.State owned Ceypetco says the Treasury will settle Rs. 6 bn outstanding in subsidy claims this year, even as deferred payments to Iran fall due in July. Not allowed to […]
’05 fiscal outlook
Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said.Although the post-tsunami reconstruction effort in Sri Lanka will help domestic economic growth, it may affect the country’s fiscal outlook, the International Monetary Fund said. “Lower tourism receipts and a reconstruction-related […]
Shifting Sideways
The Asian Development Bank has reallocated US$ 7 mn from a Rural Finance Sector Development Project in Sri Lanka to provide emergency microcredit to tsunami affected people in the country.The Asian Development Bank has reallocated US$ 7 mn from a Rural Finance Sector Development Project in Sri Lanka to provide emergency microcredit to tsunami affected […]
Fancy tea champagne or a teapuccino? One family company has set its sights on dressing up the centuries old tea drink with a trendy outfit
Fancy a meal starting off with tea champagne, a main course spiced with tea, a desert dipped in tea and round it off with a tea cookie or teapuccino? For Sri Lankans brought up on a traditional diet of kahata (extra strong) tea laced with extra milk and lots of sugar, a four course tea […]
Case Dismissed
Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn fine, the regulator said Friday. Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn […]
Local Options
Sri Lanka can give India a run in the battle for global outsourcing space, with local IT workers staying longer in a single job than their Indian counterparts.Sri Lanka can give India a run in the battle for global outsourcing space, with local IT workers staying longer in a single job than their Indian counterparts. […]
Sri Lankan obsession with doctors, lawyers and engineers telling on labour market
The Sri Lankan obsession with doctors, lawyers and engineers is finally telling on the local labour market. The Sri Lankan obsession with doctors, lawyers and engineers is finally telling on the local labour market. “Parents still educate children with the very narrow view point of making them doctors, lawyers or engineers,” says Kamal Abeysinghe, Treasurer […]
Sri Lanka battles an avalanche of tsunami of aid
Sri Lanka is struggling to cope with a flood of tsunami food aid and has begun distributing perishables even among those unaffected by the disaster, social services minister Sumedha Jayasena said Friday.Sri Lanka is struggling to cope with a flood of tsunami food aid and has begun distributing perishables even among those unaffected by the […]