Tag: economy

Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports of textiles, diamonds, electrical equipment and building materials took the pressure of the Exchequer.Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports […]

The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT).The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT). “The BTT increase was gazetted but until it is approved […]

Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company.Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company. But the government’s 100-meter rule is preventing 200 small retail shops from […]

Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary Policy in Sri Lanka, in a letter to the IMF while also asking for help to recover from the Tsunami.Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary […]

A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri Lanka still need US$ 1.2 bn in added funding. A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri […]

Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. “Last week we were looking at performance reports of the CEB.If we restructure the CEB we will be able […]

Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources.Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources. “There is no official gold in the market,” says Chanaka Ellawela, vice chairman, Sri Lanka Gem […]

Sri Lanka’s World Bank Country Director came out strongly denying giving official recognition to Tamil Tiger guerrillas, even as a weekend paper promised to blow the lid off on Sunday.Sri Lanka’s World Bank Country Director came out strongly denying giving official recognition to Tamil Tiger guerrillas, even as a weekend paper promised to blow the […]

At least three people were critically wounded when suspected Tamil Tiger rebels threw a grenade into the office of a rival group in eastern Sri Lanka Friday, military officials said.At least three people were critically wounded when suspected Tamil Tiger rebels threw a grenade into the office of a rival group in eastern Sri Lanka […]

Sri Lanka’s peace broker Norway was hopeful of clinching a deal between the Colombo government and the Tiger rebels on jointly handling tsunami relief aid, the guerrillas said Sri Lanka’s peace broker Norway was hopeful of clinching a deal between the Colombo government and the Tiger rebels on jointly handling tsunami relief aid, the guerrillas […]

The ADB will host a Ministerial meeting in Manila, Philippines, on March 18, to revive international interest in tsunami rebuilding. The ADB will host a Ministerial meeting in Manila, Philippines, on March 18, to revive international interest in tsunami rebuilding. “As the development community’s response to the tsunami disaster is shifting from the relief phase […]

South Asian NGOs want governments to include their concerns when negotiating trade matters under the World Trade Organisation (WTO).South Asian NGOs want governments to include their concerns when negotiating trade matters under the World Trade Organisation (WTO). “Even in South Asia the different countries have different requirements.This is where civil society groups can get a […]