Tag: Sri Lanka
” war probe
September 7, 2011 (AFP) – Amnesty International on Wednesday said Sri Lanka’s inquiry into its military victory over Tamil rebels was “flawed at every level” and no substitute for an international war crimes investigation. The human rights watchdog issued a 69-page report slamming the work of the government’s Lessons Learnt and Reconciliation Commission (LLRC) ahead […]
Sri Lanka should stop defending currency peg: IMF
Sept 07, 2011 (LBO) – Sri Lanka should stop defending a dollar peg and allow the domestic currency to respond to market developments, the International Monetary Fund has said. Aitken said Sri Lanka’s interest rates were appropriate now but the central bank should watch credit growth and take action in the future. The IMF cautioned […]
Sri Lanka mayoral candidate promises jobs, decent housing
Sep 05, 2011 (LBO) – Sri Lanka’s ruling party mayoral candidate for the capital intends to organize job fairs for unemployed youth and promised decent housing for squatters uprooted from prime land being cleared for commercial development. Milinda Moragoda said he œwill bring in a professional and capable administration, which will help ensure that Colombo […]
Sri Lanka exports up 40-pct to July
Sept 05, 2011 (LBO) – Sri Lanka’s exports in the seven months to July rose 40 percent to 6,080 million US dollars from a year earlier, with apparel growing 44 percent, an export promotion official said. In July exports had topped a billion US dollars. Ratnayake had earlier said year-end target for exports was 10 […]
Sri Lanka graduates take aim for fresh tax grab
Sep 04, 2011 (LBO) – Graduates from Sri Lanka’s state universities are taking aim for a fresh tax grab by getting lifetime salaries as state workers, having already received a ‘free’ tertiary education from peoples’ tax money. The Island newspaper said a group calling itself the Combined Association of University Graduates (CAUG) charged rulers of […]
Sri Lanka businesses warn against economic sanctions
Sep 02, 2011 (LBO) – Sri Lanka’s large trade have criticized a report by a UN panel alleging human rights abuses in a civil war that ended in 2009, and warned against international economic sanctions. The panel called for probes in to allegations of war crimes by both sides of the conflict in the latter […]
Sri Lanka accountants meet to mull new rules, post-war prospects
Aug 31, 2011 (LBO) – Post-war business opportunities and the transition to new global accounting rules will be among the topics to be discussed at a conference organised by the Institute of Chartered Accountants of Sri Lanka. Mudalige said demand for conference participation has grown so much that they had to hold it at the […]
Sri Lanka inflation eases to 7.0-pct
Aug 30, 2011 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 7. 0 percent in August 2011, easing from 7.5 percent in July, the government’s statistics office said. The revised index fell 0.3 percent in the month. The food and non-alcoholic beverages fell 0. 7 percent in the month, and non-food categories fell 0.1 […]
Petrol Fiasco
Aug 29, 2011 (LBO) – A Sri Lanka government committee probing the import of substandard petrol which damaged vehicles has recommended payment of compensation to affected motorists. The report by the committee, handed over to petroleum minister Susil Premajayantha Monday, said the fiasco was caused by government officials not following essential procedures for fuel imports, […]
Risk to global economy rising: IMF chief
NEW YORK, August 27, 2011 (AFP) – Risks to the global economy are rising and the tools for supporting it are more limited than they have been in the past, IMF chief Christine Lagarde warned Saturday. But Lagarde — in a speech to a meeting of central bankers in Jackson Hole, Wyoming — said that […]
Sri Lanka rubber exporter pinched by export taxes, interest
Aug 29, 2011 (LBO) – Eastern Merchants Plc, an exporter of commodities that claims top spot for natural rubber exports from Sri Lanka said its margins were eroded by rising working capital costs and export taxes despite steep commodity inflation. Eastern Merchants group, which exports rubber, coir fibre, cinnamon and brushes said revenues grew 53 […]
Sri Lanka SOE in new move to clear controversial cement: report
Aug 29, 2011 (LBO) – A state enterprise has tried to again to clear a consignment of cement with a foreign quality certificate adding to a controversy where stocks earlier cleared without certification, a media report said. Sri Lanka’s The Sunday Times newspaper said the Sri Lanka National Co-operatives Board (SLNCB) which comes under the […]