Tag: lankabusinessonline
Sri Lanka credit will grow faster if long-term rates fall: Deputy Central Bank Governor
June 17, 2014 (LBO) – Sri Lanka credit growth will accelerate if longer term lending rates fall further, Deputy Governor Nandalal Weerasinghe said.Sri Lanka’s inflation in the past 12-months have been in the lower single digits, though inflation spiked to near 10 percent in 2012, amid steep currency depreciation. Central Bank Governor Nivard Cabraal told […]
Fresh religious nationalist violence in Sri Lanka coastal town – Update
ALUTGAMA, June 17, 2014 (AFP) – More deadly violence flared in a Sri Lankan coastal resort where Buddhist hardliners set shops and homes alight for a second night running in defiance of a curfew, police and residents said Tuesday.Amid mounting international concern at the unrest, residents of a town which has borne the brunt said […]
US condemns Sri Lanka nationalist violence
June 16, 2014 (LBO) – The United States has condemned nationalist violence that has left at least three people dead and dozens injured with Muslim house and shops burnt. The statement is reproduced below: U S. Embassy Statement on Aluthgama & Beruwela Violence The U.S. Embassy condemns the violence that has spread over the weekend […]
Sri Lanka economic growth at 7.6-pct in 1Q 2014
June 16, 2014 (LBO) – Sri Lanka’s economy grew 7.6 percent in the first quarter of 2014 from a year earlier despite the agriculture shrinking, estimates by the state statistics office showed. Agriculture, Livestock and forestry shrank 1.2 percent but helped by a 13.3 percent from fishing, the sector showed a 0.2 percent growth. Industry […]
Curfew in Sri Lanka resorts after 80 injured in nationalist riots – Update
ALUTGAMA, June 16, 2014 (AFP) – Sri Lankan police extended a curfew in a popular tourist region Monday after at least 80 people were injured and dozens of Muslim-owned shops and homes torched when a Buddhist mob went on the rampage. Authorities said the curfew would stay in place for a second night running in […]
Three killed in Sri Lanka religous riots
ALUTGAMA, June 16, 2014 (AFP) – Clashes between Buddhists and Muslims in southern Sri Lanka has left three people dead and at least 78 others seriously wounded, the justice minister said Monday. Police fired teargas and imposed a curfew but were unable to prevent several dozen shops and homes being attacked. Both areas are popular […]
‘s Central Bank responds to concerns over foreign debt measurements
June 14, 2014 (LBO) – Sri Lanka’s Central Bank has responded to recent warnings over rising foreign debt by the government and other entities. The Central Bank said its analysis was based on central government debt. It points out that excluding inflows such as remittances also does not present a correct picture. Even more than […]
Sri Lanka to get US$1.4bn from ADB over four years
June 12, 2014 (LBO) – Sri Lanka will get 1.4 billion US dollars from the Asian Development Bank over the next four years to finance health, sanitation education and energy, officials said.In 2014 ADB is expected to disburse 406 million US dollars for ongoing projects. “ADB remains active in Sri Lanka and we want to […]
Sri Lanka journalists fear new government crackdown
COLOMBO, June 11, 2014 (AFP) – Sri Lankan media rights activists Wednesday accused the government of a new crackdown against reporters as the country faced a UN-led international war crimes probe. Dozens of pro-government supporters threatened violence and broke up an investigative journalism training workshop at the weekend, said Transparency International Sri Lanka (TISL) which […]
‘s vulnerability to foreign debt
June 11, 2014 (LBO) – Sri Lanka may be more vulnerable to foreign debt than generally believed, amid rising foreign borrowings by both the state, state enterprises and also private entities, economists have said.Harsha de Silva, an economist and legislator said when parameters developed by UN’s Economic and Social Commission for Asia and the Pacific […]
Sri Lanka credit to business positive in March; state borrowings surge
June 06, 2014 (LBO) – Sri Lanka’s loans to business expanded 7.6 billion rupees in March 2014, ending two months of contraction, while borrowings by the central government surged, official data showed.Sri Lanka’s fiscal transparency had major setback from the first quarter of last year after the state stopped releasing month revenue and expenditure numbers, […]
‘s victory
The outcome of LokSabha (lower house of the Indian Parliament) elections on May 16th was unexpected and unprecedented over the last three decades. The trend towards more fractured and fragmented outcomes has been reversed decisively. The third benefit for Sri Lanka from a Modi government will emerge from India reverting back to a high growth […]