Tag: Sri Lanka
Sri Lanka blocks US rapper Akon: official
March 23, 2010 (AFP) – Sri Lanka Tuesday said it had refused US rap star Akon entry to the island following protests that a music video he produced was offensive to Buddhists. He said Colombo decided to stop the Grammy Award-nominated star’s concert planned for April 24 despite hopes from the official Tourism Promotion Bureau […]
Sri Lanka loosened monetary policy without damage: IMF
HANOI, Mar 23, 2010 (LBO) – Sri Lanka was among the countries that ran counter-cyclical monetary policy in 2009 without damaging fallouts but low income Asian nations have to invest more, International Monetary Fund officials said. Sri Lanka is estimated to have grown by about 3. 5 percent in 2009 recovering from a slump from […]
Sri Lanka invites investors for township development
Mar 23, 2010 (LBO) – Development of townships around Sri Lanka’s capital Colombo offers investors a range of investment opportunities to build infrastructure and supply services, a senior official said. The Greater Colombo township development, known as the ‘3K’ project from the three towns covered – Kottawa, Kaduwela and Kadawatha – is connected with construction […]
‘s main opposition touts new policies
Mar 23, 2010 (LBO) – Sri Lanka’s right wing United National Party (UNP) promises socialist style intervention to fix economic problems by clamping down on errant banks, increasing state-sector pensions and wages and threatening to cancel foreign commercial loans. Troubled assets of the Sri Lanka’s banking system will be absorbed into the state by a […]
IMF Vietnam forum debates post-crisis way forward for developing Asia
HANOI, Mar 22, 2010 (LBO) – Government officials, international financial institutions and policy researchers are discussing developing Asia’s response to the global crisis and the way ahead for lower poverty and growth at a forum in Hanoi Monday. Sri Lanka’s finance secretary P B Jayasundera, Nepal’s minister of finance, Surendra Pandey and advisor to Bangladesh’s […]
Vietnam lauds role of policy advice, international support, in recovery
Hanoi, Mar 22, 2010 (LBO) – International support and policy advice on macro-economic management has helped Vietnam recover from a slowdown in 2009 and the country intended to use global links to cut poverty, officials said. Vietnam’s economy slumped in the fist part of 2009 but recovered later and the country was expected to record […]
Sri Lanka expects more support from multilateral lenders: Treasury chief
HANOI, Mar 22, 2010 (LBO) – Sri Lanka is looking for more flexibility and backing from multilateral lenders as the country emerges from a war and a global crisis and is planning sustainable growth for the future, a top official said. IMF only lends money to the central bank to boost its reserves and budgetary […]
Sri Lanka private TV station stoned ahead of vote: police
March 22, 2010 (AFP) – Dozens of unidentified men pelted stones at the headquarters of a private television station in Sri Lanka’s capital Monday, causing damage to the building, police said. The latest attack came as Sri Lankan and foreign media rights groups accused the government of President Mahinda Rajapakse of cracking down on dissent, […]
Sri Lanka policy rates frozen amid rising inflation, excess liquidity
Mar 18, 2010 (LBO) – Sri Lanka held policy rates frozen in March as inflation accelerated, central bank financing of the budget deficit increased to new highs amid frantic attempts to mop excess liquidity. The International Monetary Fund has already suspended a deal after the 2009 budget deficit went off the rails to 10.3 percent […]
Sri Lanka calls investments for capital city urban development
Mar 18, 2010 (LBO) – Sri Lanka is inviting investments for a high-rise complex proposed for prime land in the congested city that will be cleared of slums as part of an urban renewal project, officials said. The ‘Panchikawatte Triangle’ re-development project will provide 26 acres of land in the heart of the city for […]
Protest over arrest of Sri Lanka reporter linked to Fonseka
March 18, 2010 (AFP) – Sri Lankan media groups Thursday protested against the arrest of a reporter close to Sarath Fonseka, the detained ex-army chief who tried to unseat the president in recent elections. The groups issued a joint statement demanding the release of Ruwan Weerakoon, a reporter with the Nation newspaper, who was arrested […]
‘s Rajapakse rejects early pardon for Fonseka
SINGAPORE, March 18, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse has ruled out an early pardon for his election rival Sarath Fonseka and dismissed the former army chief as a “fool” who was unprepared for politics. In an interview with Singapore’s Straits Times published Thursday, Rajapakse also spelled out his economic ambitions for post-war […]