Tag: lbo
Climbing Up
World oil prices hit fresh historic high points on Monday, climbing above 58 dollars a barrel in New York on tight supplies, as OPEC began consultations to consider raising output by 500,000 barrels per day.New York’s main contract, light sweet crude for May delivery, struck a record intra-day high of 58.18 dollars in electronic trading […]
Backup Power
Sri Lanka’s monopoly power utility was scrambling to restore power late Monday evening after two transmission lines tripped causing an islandwide blackout.Sri Lanka’s monopoly power utility was scrambling to restore power late Monday evening after two transmission lines tripped causing an islandwide blackout. The Ceylon Electricity Board’s engineers said that powerlines running from Victoria to […]
Soaring High
Major airlines face greater losses than last year because of the ongoing surge in oil prices, the main industry association warned Monday as it forecast total losses of 5.5 billion dollars in 2005. Major airlines face greater losses than last year because of the ongoing surge in oil prices, the main industry association warned Monday […]
Fear of snap election as Sri Lankan president at odds with allies
Sri Lankan President Chandrika Kumaratunga could call a snap election before the end of 2005 because of friction with her Marxist allies over economic reforms and peace talks with Tamil rebels, analysts said Sunday.Under the island’s constitution, Kumaratunga is now allowed to sack parliament and call an early election following the passing at midnight Saturday […]
Good Advice
Sri Lanka has to cut the budget deficit and respond correctly to rising oil prices, in order to avoid another setback to the economy, a top private sector professional said.Sri Lanka has to cut the budget deficit and respond correctly to rising oil prices, in order to avoid another setback to the economy, a top […]
Darkness @ Noon
Monopoly electricity supplier Ceylon Electricity Board (CEB) has reported a record loss for last year and said it would face a severe cash crisis this month unless it gets urgent cash injection. Monopoly electricity supplier Ceylon Electricity Board (CEB) has reported a record loss for last year and said it would face a severe cash […]
Paul Wolfowitz lands top job as World Bank President
The Executive Board of the World Bank confirmed on Friday that former US Deputy Secretary of Defense Paul Wolfowitz had landed the top job of Bank President.The Executive Board of the World Bank confirmed on Friday that former US Deputy Secretary of Defense Paul Wolfowitz had landed the top job of Bank President. The Bush […]
Last quarter growth plummeted to 4.4 percent, and annual GDP growth fell to 5.4 percent
Sri Lanka’s economic growth in last quarter of 2004 plummeted to 4.4 percent, and annual GDP growth fell to 5.4 percent, compared to a revised GDP growth number for 2003 of 6 percent.Sri Lanka’s economic growth in last quarter of 2004 plummeted to 4.4 percent, and annual GDP growth fell to 5.4 percent, compared to […]
Inflation in March takes a sort dip, but annual inflation moves up to 11.1 %
The headlong rise in inflation showed signs of slowing in March as the point to point increase in Colombo inflation (CCPI) for the last 12 months shifted down slightly to 15.5 per cent from 15.9 per cent a month before, Central Bank said.The headlong rise in inflation showed signs of slowing in March as the […]
Sri Lanka needs fiscal discipline and bipartisan consensus on economic policy
Sri Lanka needs fiscal discipline and bipartisan consensus on economic policy to replicate the success of other fast growing economies, a top private sector professional said.Sri Lanka needs fiscal discipline and bipartisan consensus on economic policy to replicate the success of other fast growing economies, a top private sector professional said. Drawing parallels with the […]
Making Growth
The lagging effects of the agriculture sector took a chunk of growth off Sri Lanka’s industrial sector which contributed 36 percent to the country’s GDP growth.The lagging effects of the agriculture sector took a chunk of growth off Sri Lanka’s industrial sector which contributed 36 percent to the country’s GDP growth. The Central Bank in […]
Fourth quarter GDP growth plummets to 4.4% capping annual growth at 5.4 %
Sri Lanka’s economic growth in last quarter of 2004 plummeted to 4.4 percent, and annual GDP growth fell to 5.4 percent, compared to a revised GDP growth number for 2003 of 6 percent.Sri Lanka’s economic growth in last quarter of 2004 plummeted to 4.4 percent, and annual GDP growth fell to 5.4 percent, compared to […]