Tag: lbo
‘s central bank does not want the rupee to appreciate quickly: Deputy Governor
May 28, 2014 (LBO) – Sri Lanka’s Central Bank did not want the rupee to appreciate quickly and had bought dollars heavily in the market to prevent an appreciation and help exporter profits, Deputy Governor, Ananda Silva said.Analysts say a flurry of dollar purchases in excess of inflows then pressure the exchange rate which may […]
Sri Lanka borrows US$275mn from ADB for roads, education
May 27, 2014 (LBO) – The Asian Development Bank said it would loan 175 million US dollars to build roads and boost the state university system to generate graduates that more employable.ADB will give 100 million US dollars for Sri Lanka government’s skills sector development program which plans to reduce a mismatch between the competencies […]
Sri Lanka President, Indian PM discuss fishing, post-war reconciliation
May 27, 2014 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had discussed the island’s post-war reconciliation process and an fishing dispute with India’s new Prime Minister Narendra Modi in New Delhi, his office said.“Both agreed that talks between the fishermen and the meeting of the joint committee of officials must continue,” the statement said.Sri Lanka […]
‘s forex reserves US$8.1bn; BOP surplus up with weak credit
May 26, 2014 (LBO) – Sri Lanka’s balance of payments surplus or the gap between international receipts and payments widened to 828.8 million US dollars, the Central Bank said as weak domestic credit dampened imports. However when credit is weak not all of the inflows are spent, generating excess liquidity in the domestic money markets […]
Sri Lanka employment diversity forum by SLASSCOM with all female panel
May 25, 2014 (LBO) – Sri Lanka’s information technology chamber is has organized a forum on workplace diversity, with a top Microsoft executive and academic to deliver the keynote speech. Sri Lanka Association of Software and Service Companies (SLASSCOM) is hosting the breakfast briefing on Increasing Diversity and Inclusiveness in the Contemporary Workforce on Tuesday […]
‘s data which could be used to expand ruler powers over people flawed: report
LONDON, May 24, 2014 (AFP) – French economist Thomas Piketty’s best-selling book on income inequality is flawed by errors in his data, the Financial Times newspaper said Saturday.An investigation by the British broadsheet found there was little evidence in the 43-year-old’s original sources to underpin his argument that an increasing share of total wealth is […]
Sri Lanka EPF running out of cash as workers age: legislator
May 24, 2014 (LBO) – Sri Lanka’s Employee’s Provident Fund is running out of new cash to repay beneficiaries as the private sector population age rapidly but attempts by the state to deny withdrawals at maturity will be resisted, a legislator said.Withdrawals were 48.7 billion rupees in 2012 and 50.2 billion rupees and the cash […]
‘s third coal plant to start test runs
May 21, 2014 (LBO) – Sri Lanka’s third 300 MegaWatt coal plant is to begin testing in two months and the second plant has just been handed over to state-run Ceylon Electricity Board by its Chinese contractor after initial test runs.The third plant is expected to begin its reliability test runs from June adding another […]
Sri Lanka holds rates, state guarantee for gold-backed loans: Central Bank
May 20, 2014 (LBO) – Sri Lanka’s Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.The Central Bank was holding its policy repo rate at which the excess liquidity is withdrawn from the […]
” nations by UN measure: Central Bank
May 19, 2014 (LBO) – Sri Lanka was a ‘less indebted’ nation on five out of six measures used by the United Nation’s Economic and Social Commission for Asia and the Pacific to measure foreign indebtedness, the Central Bank said.In ‘Disbursed External Debt Outstanding/Gross National Income’ Sri Lanka was placed moderately indebted (between 30 to […]
Sri Lanka celebrates end of war
MATARA, May 18, 2014 (AFP) – President Mahinda Rajapakse led celebrations at a major victory parade Sunday to mark the fifth anniversary of the end of Sri Lanka’s Tamil separatist war, after banning commemorations for its victims.As the envoys of Western nations stayed away from the parade, a defiant Rajapakse insisted he would not bow […]
Sri Lanka to get US83mn to improve dam safety
May 16, 2015 (LBO) – Sri Lanka’s will get an additional 83 million US dollars to improve safety at high risk dams, expanding an existing program covering the most vulnerable 32 reservoirs, the World Bank said.The dam network in Sri Lanka comprises over 350 large and medium dams. Many of these dams are aging and […]