Tag: Finance

June 25, 2007 (LBO) – Sri Lanka’s reserve money targeting regime is showing results and volatility in overnight rates and inflation will moderate, Central Bank said Monday, days after short-term treasury yields went up by 30 basis points. The bank no longer operates a full policy rate regime, with the discount window nominally at 12.00 […]

June 23, 2007 (LBO) – Zimbabwe’s currency has started to freefall with heavy money printing to finance state expenses reports said, while Sri Lanka’s central bank has maintained some stability despite a widening budget deficit. Analysts are now predicting that Zimbabwe may soon see the end of a populist regime headed by Robert Mugabe that […]

June 20, 2007 (LBO) – Sri Lankan surfers turned to proxy servers to access a pro-guerilla news website amidst claims that the government has started to practise net censorship in the country. The website, Tamilnet.com alleged that authorities have asked internet service providers to block access to the site in Sri Lanka. To access the […]

June 19, 2007 (LBO) — Sri Lankan government Tuesday narrowly secured parliamentary approval to raise the national budget amidst chaos in the house when two former ministers crossed over and joined opposition ranks.The Tigers have declined to comment on the allegations that over 15 million dollars was paid to the Liberation Tigers of Tamil Eelam […]

June 13, 2007 (LBO) – Sri Lanka’s 3-month risk free yields gained 15 basis points at the latest treasuries auction, while a ministerial decision to fix electricity and fuel prices announced this week threatens to send rates higher. . The average bids accepted for the 3-month bill rose to 17.09 percent, while 6-month bills edged […]

June 14, 2007 (LBO) – Sri Lanka’s exports grew 11.5 percent and imports by 7.4 percent in the first four months of 2007, keeping the trade deficit at last year’s level, but the gap in the month of April itself widened, the Central Bank said.In April exports grew 6.8 percent to 535 million dollars, slower […]

June 14, 2007 (LBO) – The United Nations Habitat section has teamed up with Sri Lanka’s urban development ministry to improve living conditions of low income families living in the capital city’s slums. The program was launched by the UN Human Settlement Program with the help of Ministry of Urban Development and Emerging Markets Group […]

June 13, 2007 (LBO) – Sri Lanka’s economy slowed sharply to 6.1 percent in the first quarter of 2007 from 7.9 percent last year, as the conflict began to take its toll and the effects of an expansionary stimulus wore off. The government’s statistics office said this compared with gross domestic product (GDP) growth of […]

SAINT PETERSBURG, June 10, 2007 (AFP) – Russian President Vladimir Putin on Sunday called for a revolution in world economic relations, saying institutions created by the West were “archaic, undemocratic and inflexible.” Speaking to an audience of world leaders and top chief executives at a showcase business forum, Putin said the emergence of developing economies […]

June 8, 2007 (AFP) – Sri Lanka’s Supreme Court Friday ordered an immediate halt to the eviction of minority ethnic Tamils from the capital, a day after hundreds were expelled at gunpoint, a court official said. The Court issued the order following a complaint by a political activist group that Thursday’s police operation was a […]

June 8, 2007 (AFP) – Nine badly mutilated bodies were found in a garbage dump just north of Sri Lanka’s international airport Friday, police said, prompting officers to start a bigger search.“We don’t know the identity of the victims,” a local police official said by telephone. “We are now digging the area because there could […]

June 07, 2007 (LBO) – Sri Lanka plans to accelerate and broaden its development activities despite the internal conflict, the island’s president said Wednesday, as an expanding budget deficit threatened to undermine growth this year. We need to fearlessly combat terrorism and develop without making it an excuse, President Mahinda Rajapakse said in a statement […]