Tag: Finance

July 29, 2008 (LBO) – Rising inflation has made it difficult for mature market central banks to print their way out of the credit crisis, and emerging markets that continue to print money may find investors shunning them, the International Monetary Fund has said.In an update to its Global Financial Stability Report IMF said the […]

July 29, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera, who submitted his resignation to President Mahinda Rajapaksa after a court order faulted him over a privatization deal, has been asked to continue in his position.The court said Jayasundera had acted in collusion with the current JKH chairman, Susantha Ratnayake, a director of […]

July 28, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera has submitted his resignation to President Mahinda Rajapakse following a court order that faulted him over a privatization deal and a tax holiday, an official said.Reports said Jayasundera had offered to resign soon after the order was made last week, but the government […]

July 26, 2008 (AFP) – An eight-member South Asian meeting opening in Sri Lanka Sunday will focus on boosting regional trade and stepping up moves to combat terrorism, Colombo’s foreign minister said Saturday.Officials of the South Asian Association for Regional Cooperation (SAARC) will start meetings Sunday in the run-up to a main two-day summit starting […]

July 25, 2008 (LBO) – The extension of trade concessions from the European Union to Sri Lanka is doubtful unless the country takes action to protect human and political rights and improve press freedom, a visiting European parliamentary delegation said. “It is doubtful at the moment,” European parliamentarian Robert Evans who led the delegation told […]

July 24, 2008 (LBO) – Sri Lanka will not sign an economic pact with India until fears of local industrialists and professionals which suddenly cropped up despite four years of discussions are allayed, the island’s international trade minister said.On the same day, Wimal Weerawansa, a Marxist-nationalist lawmaker, challenged the government to release the draft CEPA […]

July 23, 2008 (LBO) – The private sector of Sri Lanka must join together to work towards ending the conflict to attain peace and development, the newly appointed chairman of the Ceylon Chamber of Commerce (CCC) said. The 25-year ethnic conflict has affected the trade and commerce sector and slowed down the country’s growth, said […]

July 22, 2008 (LBO) – Sri Lanka’s hoteliers say the industry is heading for the worst crisis in its history amid an ongoing internal conflict, while a senior government official said the economy and tourism was targeted by Tamil Tiger guerillas.Foreign visitors to the island fell 9.3 percent in May, hard hit by travel warnings, […]

July 21, 2008 (LBO) – India’s prime minister has promised to raise the issue of alleged attacks by the Sri Lanka navy on Indian fishermen at a South Asian regional summit next month, a media report said.India’s Economic Times newspaper said the Tamil Nadu Congress president K V Thangkabalu had led a delegration to meet […]

July 21, 2008 (LBO) – Sri Lanka is getting a 22.6 million US dollar credit from the World Bank’s concessionary window to improve the government statistics and audit offices, the multilateral lender said. “This project will help the government to further strengthen statistical capacity and audit functions which are at the core of public administration […]

July 19, 2008 (LBO) – Sri Lanka will ban the duty-free import of a range of white goods now allowed to be brought into the country by returning citizens that worked abroad, a senior revenue official said.Sri Lanka Customs would not allow any type of air conditioners, deep freezers or dishwashers and fully automatic washing […]

July 18, 2008 (LBO) – The World Bank is giving 98 million US dollars in additional financing for road re-building in Sri Lanka amid soaring costs of oil based materials, the multilateral lender said. “The project has made good overall progress,” says World Bank infrastructure specialist Amali Rajapaksa. “Importantly, it has played a pivotal role […]