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Deadlock in peace talks compounds Sri Lanka’s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
Bitter Battles
Depositors of the failed Pramuka Bank have demanded Rs.6 bn in damages from its regulator, Sri Lanka’s Central Bank.Depositors of the failed Pramuka Bank have demanded Rs. 6 bn in damages from its regulator, Sri Lanka’s Central Bank. “We sent out letters of demand to the Monetary Board asking for damages up to Rs. 6 […]
Wait Up
Sri Lanka’s domestic banks are still far from coming to grips with modern risk management techniques, though branches of foreign banks were coping better, a survey that was out in November, has revealed.Sri Lanka’s domestic banks are still far from coming to grips with modern risk management techniques, though branches of foreign banks were coping […]
Password Protected
The ICT Agency will draft a set of high level policy documents to govern the roll out of citizen services and collective information resources.The ICT Agency will draft a set of high level policy documents to govern the roll out of citizen services and collective information resources. First in the list, an information security policy […]
‘s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
Finance Minister Sarath Amunugama says, the rising budget deficit forced the government to print money
Central Bank this week started to raise rates to stop rising inflation, caused by the government printing money. Central Bank this week started to raise rates to stop rising inflation, caused by the government printing money. But Finance Minister Sarath Amunugama says, the rising budget deficit forced the government to print money, and will attempt […]
Taxing Max
Tax experts say that government’s ad hoc changes to taxes outside the budget harms the stability of the fiscal environment. Tax experts say that government’s ad hoc changes to taxes outside the budget harms the stability of the fiscal environment. They also believe that the Economic Service Charge has not looked positive on a cross […]
Pomp & Budget
Making a budget for a poor country with a mountain of debt, low investment, a large public service and high defense expenditure is no easy task. Making a budget for a poor country with a mountain of debt, low investment, a large public service and high defense expenditure is no easy task. But this is […]
Same Here
The Finance Minister Sarath Amunugama told Lanka Business Report (LBR) that he is counting on the rural sector to contribute to productivity improvement and help drive economic growth. The Finance Minister Sarath Amunugama told Lanka Business Report (LBR) that he is counting on the rural sector to contribute to productivity improvement and help drive economic […]
Wide Choice
The Maldivian government has started talks with Kuwait’s Al Watania Telecom to offer a second mobile phone slot in the Atolls.The Maldivian government has started talks with Kuwait’s Al Watania Telecom to offer a second mobile phone slot in the Atolls. Cellular services are currently provided by Dhiraagu Pvt.Ltd., a joint-venture between the Maldivian government […]
Begging Success
Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up to six months to help Sri Lanka manage the exchange rate crisis.Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up […]
Further tax hikes on business and high income earners may top Thu. budget
Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget next week, with a series of new taxes targeting businesses and high-income groups expected to be at the top of the list.Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget […]