Tag: economy

Jan 30, 2010 (LBO) – Sri Lanka is saving and investing too little and spending too much and the country is also getting less returns than more efficient economies for the money spent to boost capital stock, a top economist has said. Countries that invest more will generate higher levels of growth and incomes. East […]

Jan 29, 2010 (LBO) – Sri Lanka’s state investment promotion agency is standing by to support businessmen who want to start investing now that the polls are over, its chief Dhammika Perera said. “The presidential elections are over,” Perera said. “Now is the time for everyone to leave the elections behind and put their plans […]

Jan 28, 2010 (LBO) – Sri Lanka’s policy direction is clearer after a President Rajapaksa was returned to power with a bigger majority allowing investors to emerge from any ‘wait and see’ attitude, a top official said. “The mandate means we have a clear path chartered for the next six years,” Central Bank governor Nivard […]

Jan 28, 2010 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 6. 5 percent in January 2010 from a year earlier, up from 4.8 percent December while prices increased 1.4 percent during the month, the government’s statistics office said. Sri Lanka’s Colombo consumer price index (CCPI) has been rising steadily after April 2009 […]

January 27, 2010 (AFP) – President Mahinda Rajapakse has taken the lead in Sri Lanka’s tense election, officials said Wednesday, but the opposition said it was on course for power despite a row over its candidate’s eligibility. Election officials said Rajapakse, who is being challenged by his former army chief Sarath Fonseka, had won over […]

January 25, 2010 (AFP) – Sri Lanka goes to the polls Tuesday in its first post-war presidential election, contested by the men who ended the island nation’s 37-year conflict but whose bitter clash threatens more instability. “If there is a war, we will face it,” he added, threatening street protests and rallies. Rajapakse, like Fonseka […]

VAVUNIYA, January 26, 2010 (AFP) – Sri Lanka’s minority Tamils, for decades in the crossfire between rebels and government forces, hope their potentially decisive role in Tuesday’s election will finally bring them peace. The two main candidates, President Mahinda Rajapakse and former general Sarath Fonseka, were the architects of a final assault on Tamil Tiger […]

Jan 26, 2010 (LBO) – Polling in Sri Lanka’s north was estimated to be about 15 to 20 percent and in the east about 50 percent while the rest of the country had higher turnouts by early afternoon, a poll monitoring group said. Reports said war refugees in the north had difficulties in getting transport […]

January 23, 2010 (AFP) – Sri Lanka’s opposition warned on Saturday of possible vote-rigging and violence by the ruling party ahead of next week’s presidential election as both sides wound up campaigning. Ahead of the final rallies later on Saturday, opposition candidate Sarath Fonseka predicted that the ruling party, led by President Mahinda Rajapakse, would […]

Jan 21, 2010 (LBO) – Sri Lanka has moved out of the countries eligible for financing from the International Monetary Fund’s poverty reduction and growth facility with greater access to capital markets and higher incomes, the Central Bank said. “Accordingly, Sri Lanka will now be recognised as a country with a middle income emerging market […]

Jan 19, 2010 (LBO) – Sri Lanka’s central bank said it was keeping its main reverse repurchase policy rate at which money is injected to markets steady at 9. 75 percent, though inflation has started to pick up. “Though some volatility has been observed in the short term money market rates in recent weeks, market […]

Jan 19, 2010 (LBO) – Sri Lanka’s labour minister has “ordered” a 2,500 rupee salary hike to private sector workers, a ministry statement said, though an organization representing the major employers said they had no knowledge of the move. The statement said a 405 rupee a month wage deal negotiated between a group of large […]