Tag: news
Sri Lanka to get $300mn a year for infrastructure from ADB
Apr 07, 2011 (LBO) – The Asian Development Bank would finance Sri Lanka with about 300 million dollars annually over the next few years, with roads, water supply and sanitation getting attention, officials said. In the past three years Sri Lanka had got nearly a billion dollars of Asia Development Financing, with a peak of […]
Sri Lanka court grants bail for detained editor
April 7, 2011 (AFP) – The editor of a pro-opposition Sri Lankan news website was released on bail Thursday, a week after his arrest sparked protests from international media rights groups. Bennet Rupasinghe had been taken into police custody on charges of allegedly threatening a suspect wanted for a January arson attack on the offices […]
Sri Lanka and IMF to discuss ways to rope in excess money
Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]
Sri Lanka HSBC, British Council backs students in business
Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]
Sri Lanka may need monetary tightening: ADB
Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]
Sri Lanka ties held back by rights concerns, US says
WASHINGTON, April 5, 2011 (AFP) – The United States said Tuesday that future cooperation with Sri Lanka depended on improvements in its human rights record and an accounting of the bloodshed at the end of the island’s civil war. With its strategic location and contributions to global peacekeeping, Sri Lanka “is poised to be a […]
Sri Lanka gets more IMF cash; warned on excess liquidity
Apr 05, 2011 (LBO) – The International Monetary Fund has given Sri Lanka 218. 3 million dollars under its 2.5 billion US dollar program but called on the Central Bank to tighten liquidity management to prevent further inflation. Authorities expect Sri Lanka to generate less inflation after April. Sri Lanka is also expected to change […]
Sri Lanka IMF targets waived due to lack of data: official
Apr 05, 2011 (LBO) – Sri Lanka’s requirement for targets under an International Monetary Fund was “waived” because data was not available in time and not because they were missed, an official said. IMF’s Colombo representative Koshy Mathai said the lender gave the latest tranche despite the data not being available all the indications pointed […]
Half Share
Apr 05, 2011 (LBO) – Sri Lanka’s Laugfs Gas will get 50 percent of the liquefied petroleum gas (LPG) produced by state-run Ceylon Petroleum Corporation, up from an earlier 30 percent on a presidential directive, the company said. The directive followed an April 04 meeting with the President attended by Treasury Secretary P B Jayasundera, […]
Sri Lanka foreign reserves steady
Apr 04, 2011 (LBO) – Sri Lanka’s foreign reserves were flat at 6. 7 billion US dollars in February 2011, helped by a 200 million dollar injection form the International Monetary Fund, though reserves measured in months of imports have fallen slightly. By February reserves measured in terms of imports had come down to 5.8 […]
Sri Lanka dam safety confab gets Dutch expertise
Apr 04, 2011 (LBO) – A Dutch expert will lead an annual forum on disaster risk organized by LirneAsia, a regional policy research body that has been active on improving dam safety policies in Sri Lanka which is an island dotted with thousands of reservoirs. LirneAsia says Sri Lanka has 12,000 small dams and 350 […]
Euro up amid eurozone rate hike expectations
SINGAPORE, April 4, 2011 (AFP) – The euro strengthened against the dollar in Asia on Monday as investors moved into the single currency before an expected interest rate hike by the region’s central bank, analysts said. The euro bought $1.4227 in afternoon Asian trade, up from . 4225 late Friday in New York. It changed […]