Tag: lbo
Sri Lanka’s trade deficit narrows to its lowest point, says Central Bank
Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports of textiles, diamonds, electrical equipment and building materials took the pressure of the Exchequer.Despite an upsurge in global oil prices, Sri Lanka’s trade deficit narrowed to its lowest point in January, as lower imports […]
Western Provincial Council to decide on BTT increase on Tuesday
The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT).The Western Provincial Council(PC) will decide on Tuesday, March 22, whether to go ahead with the proposed increase in Business Turnover Tax (BTT). “The BTT increase was gazetted but until it is approved […]
Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen
Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company.Tsunami affected coastal retail sector is bouncing back fast according to a survey by A C Nielsen, an international market information company. But the government’s 100-meter rule is preventing 200 small retail shops from […]
Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary Policy in Sri Lanka
Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary Policy in Sri Lanka, in a letter to the IMF while also asking for help to recover from the Tsunami.Finance Minister pledged to lower growth in the monetary base, the main instrument in the conduct of Monetary […]
Oil Troubles
Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise local prices.Volatile global oil prices could force the government into a funding squeeze in months, as it tries to pay a growing import bill while refusing to raise […]
A top ADB meeting opens Friday, amidst reports that Sri Lanka, India and the Maldives are short of US$ 1.2 bn in aid.
A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri Lanka still need US$ 1.2 bn in added funding. A top meeting of donors opened in Manila today to review the progress of tsunami reconstruction, amidst reports that India, Maldives and Sri […]
Restructuring CEB will reduce electricity production cost by Rs 2.50, says Finance Minister
Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. Restructuring the Ceylon Electricity Board (CEB) will reduce cost of electricity production by Rs 2.50, says Finance Minister. “Last week we were looking at performance reports of the CEB.If we restructure the CEB we will be able […]
Taxes drive Sri Lanka’s gold market underground
Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources.Taxes have driven Sri Lanka’s gold market underground, with only smuggled gold able to hold down prices, say industry sources. “There is no official gold in the market,” says Chanaka Ellawela, vice chairman, Sri Lanka Gem […]
World Bank country director says his comments have been misunderstood
Sri Lanka’s World Bank Country Director came out strongly denying giving official recognition to Tamil Tiger guerrillas, even as a weekend paper promised to blow the lid off on Sunday.Sri Lanka’s World Bank Country Director came out strongly denying giving official recognition to Tamil Tiger guerrillas, even as a weekend paper promised to blow the […]
Fresh violence erupts in Sri Lanka as Tigers tour Europe
At least three people were critically wounded when suspected Tamil Tiger rebels threw a grenade into the office of a rival group in eastern Sri Lanka Friday, military officials said.At least three people were critically wounded when suspected Tamil Tiger rebels threw a grenade into the office of a rival group in eastern Sri Lanka […]
Hopes rise for Sri Lanka aid breakthrough
Sri Lanka’s peace broker Norway was hopeful of clinching a deal between the Colombo government and the Tiger rebels on jointly handling tsunami relief aid, the guerrillas said Sri Lanka’s peace broker Norway was hopeful of clinching a deal between the Colombo government and the Tiger rebels on jointly handling tsunami relief aid, the guerrillas […]
Ministerial meeting in Manilato to revive international interest in tsunami rebuilding
The ADB will host a Ministerial meeting in Manila, Philippines, on March 18, to revive international interest in tsunami rebuilding. The ADB will host a Ministerial meeting in Manila, Philippines, on March 18, to revive international interest in tsunami rebuilding. “As the development community’s response to the tsunami disaster is shifting from the relief phase […]