Tag: lbo
Sri Lanka seeks to change inflation index as price pressure grows
Jan 06, 2011 (LBO) – Sri Lanka wants to change a price index again to reflect recent changes in consumption patterns although previous tinkering with the indicator at a time inflation hit record highs drew criticism. It would also cover changes in credit growth, money market liquidity and its control measures, impact of capital inflows […]
Sri Lanka delays local polls for World Cup
January 5, 2011 (AFP) – Sri Lanka on Wednesday postponed council elections near three cricket World Cup venues as the nation seeks to put on a flawless show as co-hosts of the prestigious event. The Colombo Municipal Council will not go to the polls as scheduled in March while four other councils in the central […]
Fuel Opportunity
Jan 05, 2011 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp. , plans to invest in expanding its distribution network this year after seeing sales grow last year with an economic recovery after the end of a war, a statement said. We are proud to head the prestigious LMD 50 ranking […]
Cutting Gas
Jan 05, 2011 (LBO) – Sri Lankan liquid petroleum gas distributor Laugfs Gas has struck a deal with India’s Bharat Petroleum Corporation (BPCL) to sell metal cutting gas in the island, a stock exchange filing said. The statement claimed the new product is an economical and safer metal cutting gas substitute for acetylene. The new […]
Sri Lanka BOP surplus in 2010 US$900mn
Jan 04, 2011 (LBO) – Sri Lanka expect to have had a balance of payments surplus of 900 million US dollars in 2010, Central Bank governor Nivard Cabraal said. Gross official foreign exchange reserves reached 6.6 billion US dollars by the end of 2010, he said in a speech outlining the central bank’s monetary policy […]
Sri Lanka aims for 8.5% growth in 2011
Jan 04, 2011 (LBO) – Sri Lanka is aiming for economic growth of 8.5 percent in 2011 after growing eight percent in 2010 and expects growth to accelerate to nine percent in 2012 and 9. 5 percent in 2013, central bank governor Nivard Cabraal said. Government recurrent expenditure is estimated to decrease to 16.1 percent […]
Sri Lanka considers banning mini-skirts
January 3, 2011 (AFP) – Sri Lanka said Monday it was considering banning mini-skirts following complaints about women wearing skimpy clothing in the conservative island nation. Last year, US singer Akon was denied a visa to perform in Sri Lanka after Buddhist monks took offence at one of his videos that featured women in bikinis […]
Sri Lanka rupee strength helps rein in inflation: CB
Jan 03, 2011 (LBO) – The strengthening of the Sri Lanka rupee helped rein in inflation which was kept at a mid-single digit level in 2010, the central bank said in a statement. The average domestic prices of wheat flour and milk powder decreased while the price of sugar increased compared to 2009. The Sri […]
Sri Lanka government heads for mid-term test
January 1, 2011 (AFP) – Sri Lanka will hold its first nationwide local elections since the crushing of Tamil Tiger rebels, a minister said, with the mid-March vote seen as a key test for the ruling party. Political sources said the local election would be a key test of the government’s popularity as the country […]
Sri Lanka inflation 6.9-pct in December
Dec 31 2010 (LBO) – Sri Lanka’s inflation in December 2010 rose 6. 9 percent from a year earlier after rising 7. 0 percent in November, the central bank said. Prices rose 1.1 percent during the month with the index rising to 228.3 in December from 225.8 in November, it said in a statement. The […]
Sri Lanka gets US food aid for refugees
Dec 31, 2010 (LBO) – The United States has given Sri Lanka 5.5 million US dollars worth of emergency food aid to support the return of refugees displaced by the ethnic war in the north, a statement said. USAID, the development agency of the US government, has provided over 75 million dollars (8. 32 billion […]
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December 30, 2010 (AFP) – Sri Lanka is to drop all remaining references to its British colonial name “Ceylon” from state institutions, a government spokesman said Thursday. The cabinet considered a proposal to rename the Ceylon Electricity Board and decided it should be extend to other official organisations, an information ministry official told AFP. “The […]