Tag: Finance

Dec 15, 2009 (LBO) – A public seminar is to be held to educate politicians and their economic advisors on how best to meet the needs of people, ahead of scheduled elections in January. The seminar – ‘Unleashing the people’s potential: what should be done?’- will present the findings of a study and policy recommendations […]

Dec 14, 2009 (LBO) – Sri Lanka is to host its first ever business expo in the North of the island, following the end of the country’s over three decade war. The expo is to be held from April 18 to April, 20 2010 at the Jaffna Central College. The trade fair is expected to […]

Dec 14, 2009 (LBO)- Sri Lanka’s central bank said it was holding its key policy rate at which money is injected to the economy at 9.75 percent, and the rate at which money is drained at 7.50 percent, to support credit growth, despite a pick up in inflation. “Prospects for domestic economic activity have improved […]

Dec 14, 2009 (LBO) – Sri Lanka’s external current account is expected to swing into a surplus in 2009, for the first time since 1977, the central bank said, as the island was gripped by a severe trade contraction and economic slump. The central bank has locked up over five billion US dollars in reserves […]

Dec 11, 2009 (LBO) – Sri Lanka’s former war zones in the north and east need vocational training to raise worker productivity, corporate leaders have told a visiting American diplomat.Better water supply and cold storage facilities to bring fresh produce to markets were also critical requirements, they told US Assistant Secretary of State Robert Blake […]

Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]

Dec 07, 2009 (LBO) – Sri Lanka is looking at a 5-year horizon for its reserve investments in gold, Central Bank governor Nivard Cabraal said as gold hit historic highs against the dollar amid unprecedented US money printing.Gold hit 1,200 against the Federal Reserve unit amid unprecedented loose monetary policy pursued by the Fed. There […]

December 6, 2009 (AFP) – Sri Lanka is back on the global investment radar after government forces in May ended a nearly four-decade separatist war with Tamil guerrillas, fund managers and analysts say. Sri Lanka’s small stock exchange has become one of the world’s top performing bourses, climbing over 96 percent this year as it […]

Dec 04, 2009 (LBO) – Sri Lanka’s deficit spending, heavy state consumption, opaque monetary and fiscal policies and resulting high inflation has stifled investment credit markets and skewed savers towards the short term, analysts have said.“Vacillating primary account deficits meant volatile interest rates, further hampering any viable termed out structure of savings, of whatever savings […]

Dec 04, 2009 (LBO) – Sri Lanka plans to spend 15 billion rupees on rebuilding a northern town that was affected by fighting between security forces and Tamil Tiger separatists, the Ministry of Urban Development said.It said in a statement that an entirely new city will be built in the town of Vavuniya under the […]

WASHINGTON, December 3, 2009 (AFP) – Lawmakers are likely to vent frustration over the economy and bailout of the financial system Thursday at a Senate confirmation hearing for Federal Reserve chairman Ben Bernanke. The powerful central bank chief is nonetheless expected to win approval for a second four-year term from the Banking Committee and the […]

Dec 03, 2009 (LBO) – Sri Lanka’s central bank has lashed out at exporters who engaged in a policy debate on the island’s exchange rate saying they were “partisan” and were “driven by personal interests”, unlike its own stance which was “professional”. The Central Bank has been under fire for creating high inflation from 2004, […]