Tag: economy

January 10, 2010 (AFP) – Sri Lanka’s president on Sunday took his re-election campaign to the Tamil heartland of Jaffna for his first visit to the peninsula since troops crushed separatist Tamil Tiger rebels in May. “There is no transparent basis for the release,” JVP spokesman Anura Kumara Dissanayake told reporters. “We want to know […]

Jan 09, 2010 (LBO) – Sri Lanka’s opposition presidential candidate had promised to cut diesel prices in the hope that it would bring consumer prices down, media reports said, echoing the failed 2004 petroleum pricing policy that sent inflation rocketing up. Opposition common candidate retired military general Sarath Fonseka has promised to cut diesel by […]

Jan 08, 2010 (LBO) – Sri Lanka will start exporting advanced technology sailcloth for yachts from a factory opened Friday by Dimension Polyant, a German firm, an official said. The firm says it uses technologies developed in aerospace and automotive industries to turn out sailcloth used in sails for racing yachts as well as other […]

Jan 07, 2009 (LBO) – Sri Lanka’s largest state-managed pension fund, made out of forced savings of private citizens, will be given returns above inflation an official said, amid rising concerns over real losses made in recent years. “We will establish a sound risk-return profile to establish a positive real rate of return over the […]

June 09, 2010 (LBO) – A refugee resettlement program backed by a 65 million US dollar World Bank emergency credit will begin this month, reaching over 100,000 people in Sri Lanka’s north, the government said. But the government has now re-settled most of them. “The project is to support for re-settlement and the re-establishment of […]

Jan 06, 2009 (LBO) – Sri Lankan farmers in Anuradhapura have linked up with supermarket chains Keells and Plenty Foods, giving them better prices and steady markets for their produce. The renovated centre will also benefit 3000 members of the Kebithigollawa Integrated Rural Development Organization through increased revenues as a result of this program and […]

Jan 05, 2010 (LBO) – Sri Lanka may be forced to print money and send inflation up again unless the state avoids reckless spending, which also takes away resources available for productive activities by the people, Central Bank Governor Nivard Cabraal has warned. “We have to be conscious that any money printing that can take […]

Jan 04, 2010 (LBO) – Sri Lanka’s economy is expected to grow by 3.5 percent in 2009 after it slowed down owing to global recession, with revenue picking up and exports seen recovering, Central Bank governor Nivard Cabraal said. Cabraal said the full integration of the north and east which had been affected by war […]

Jan 04, 2010 (LBO) – Sri Lanka is targeting 5 to 6 percent average inflation by end-2010 allowing the country’s base money to grow by 14.5 percent, building on low single digit inflation achieved in 2009, Central Bank governor Nivard Cabraal said. Sri Lanka ended 2009 with seasonally adjusted annual average inflation of 3.4 percent, […]

Jan 01, 2010 (LBO) – Sri Lanka’s government should ensure greater public awareness of taxes it imposes on the people and not deceive them through lack of transparency, the local arm of an international watchdog has said. Provisions which create the deception that a government can raise money to spend without taxing the people should […]

Dec 30, 2009 (LBO) – At a remote fishing village in Sri Lanka’s northern Jaffna peninsular a fisherman tells a group of officials from a state-run commercial bank and the country’s central bank the difficulties faced in a getting loan.“We would like to thank the bank for introducing a new loan scheme, but the requirement […]

Dec 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4.8 percent in December from a year ago, against 2.8 percent in November, indicating inflation is picking up, the government’s statistics office and analysts said.In the month of December the revised Colombo Consumer Price Index (CCPI) rose 1.2 percent, higher than the […]