Tag: Sri Lanka
Singapore pushes currency up to counter dollar inflation
SINGAPORE, October 14, 2010 (AFP) – Singapore on Thursday announced a surprise move to tighten monetary policy, pushing the local dollar to new highs as the economy headed for 13 to 15 percent expansion this year. The Monetary Authority of Singapore (MAS) signalled its anti-inflation stance after government data showed the economy expanded an annual […]
Sri Lanka should be re-assessed by US business: Asst. Trade Rep
Oct 13, 2010 (LBO) – Sri Lanka should be re-assessed by US businesses after the end of a 30-year war as the country moves forward in a peaceful environment though ethnic reconciliation remained a challenge, a top US trade official said. “We think that political reconciliation could be greatly accelerated with economic growth. We need […]
‘s ex-army chief
October 11, 2010 (AFP) – Thousands of protestors marched through the streets of Sri Lanka’s capital Monday, demanding the release of ex-army chief and opposition leader Sarath Fonseka who is serving a 30-month jail term. Activists led by Fonseka’s Democratic National Alliance (DNA) and his wife Anoma marched to the maximum security Welikada prison in […]
Gas Wrap
Oct 12, 2010 (LBO) – Sri Lanka’s government is expecting to wrap up the purchase of Shell’s gas unit in the island within a month, Sirisena Amarasekera, who heads the state committee in charge of the deal said. Sri Lanka’s information minister Keheliya Rambukwella has said the government was planning to sell down a 49 […]
Trio of labour market specialists wins 2010 Economics prize
STOCKHOLM, October 12, 2010 (AFP) – Three labour market experts, including one blocked for a top post at the US Federal Reserve, won the 2010 Nobel Economics Prize Monday for research that has had an impact on employment reforms worldwide. The Nobel jury said the work of Peter Diamond and Dale Mortensen of the United […]
Sri Lanka to shift away from quantity targets: CB Governor
Oct 11, 2010 (LBO) – Sri Lanka is “unlikely” to announce direct targeting of reserve money next year and will rely more on “traditional instruments” as the country moves gradually to target inflation directly with rates, central bank Governor Nivard Cabraal said. But under such a framework interest rates can be volatile, because the quantity […]
Sri Lanka state sell-down proposals spell new direction
Oct 09, 2010 (LBO) – Planned sell-downs of two state enterprises charts a new direction in Sri Lanka’s post-war economic strategy that can make state firms more transparent and also boost capital markets, analysts said. During the year the firm had given back 4,000 billion rupees to the parent in a share-buy back, which earned […]
Canada to unveil law to deter illegal migrants
OTTAWA, October 7, 2010 (AFP) – Canada’s Prime Minister Stephen Harper said Thursday his government would soon unveil a law to deter illegal immigration in response to the arrival of rickety cargo ships carrying Tamil refugees. Harper said current legislation does not go far enough to deter human smuggling, which “will increase in the years […]
Australia renews push for regional immigration centre
SYDNEY, October 8, 2010 (AFP) – Australia will urge Indonesia, Malaysia and East Timor to back its proposal for a regional centre to process asylum-seekers during talks next week, Immigration Minister Chris Bowen said Friday. Bowen, who will leave Monday for Dili to begin high-level discussions on people-smuggling and border security in the three countries, […]
Gas Buy
Oct 07, 2010 (LBO) – Sri Lanka will purchase a 51 percent stake in a liquid petroleum gas distributor in the island from Shell, a Dutch oil firm, for 63 million US dollars the government’s information office said Shell also built a terminal to store gas. See update on this story below with details of […]
Public Issue
Oct 07, 2010 (LBO) – Sri Lanka’s government will sell down a 49 percent stake in a liquid petroleum gas distributor after buying out a controlling stake held by Royal Dutch Shell for 63 million US dollars, a government minister said. Minister Rambukwella said after the state take-over the government will ensure that gas will […]
Gas Status
Oct 07, 2010 (LBO) – Sri Lanka’s Shell Gas unit said operations at the firm would remain unchanged until a sale of its stake is finalized, shortly after the government said it would buy out the oil giant for 63 million US dollars. “We are hopeful a sale purchase agreement will be signed soon,” Shell […]