Tag: Sri Lanka
Sri Lanka risk rating seen covering factors outside war
Mar 17, 2010 (LBO) – Getting Sri Lanka a more favourable insurance risk rating involves not just the absence of war but other factors like media freedom and corporate governance, officials and analysts said. Altogether, 48 ‘risk factors’ are covered in Aegis’ rating model which also considers criminal risk like corruption, crime, law enforcement and […]
Sri Lanka trial of ex-army chief adjourned
March 17, 2010 (AFP) – The court martial of Sri Lanka’s former army chief was adjourned on Wednesday after judges said they could not hear both of the separate sets of charges against him, officials said. Sarath Fonseka, who led the military to victory over the Tamil Tiger rebels last year, fell out with President […]
EU in talks with Sri Lanka on maintaining trade privileges
BRUSSELS, March 16, 2010 (AFP) – The European Union wants to work with Colombo to avoid the withdrawal of Sri Lanka’s trade privileges with the bloc, under threat due to rights concerns, an official said Tuesday. “The Commission remains committed to work with Sri Lanka to see whether the conditions for a reversal” of a […]
Sri Lanka has 10-pct of foreign reserves in gold: WGC
Mar 17, 2010 (LBO) – Gold now makes up 10 percent of Sri Lanka’s foreign reserve assets after the country tripled its gold holdings with a purchase from the International Monetary Fund in 2009, industry data showed. The United States remained the largest gold holder with 8,133. 5 tonnes, Germany second with 3,406.8 tonnes and […]
‘s ex-army chief on trial
March 16, 2010 (AFP) – Sri Lanka’s former army chief, now a sworn political enemy of President Mahinda Rajapakse, faced a military court Tuesday on controversial charges that could see him jailed for up to five years. Fonseka, a war hero last year after helping end the Indian Ocean nation’s 37-year civil war, stepped down […]
Sri Lanka former top judge slams opposition leader arrest
NEW DELHI, March 15, 2010 (AFP) – Sri Lanka’s former chief justice slammed the arrest of ex-army chief and opposition leader Sarath Fonseka on Monday on the eve of his court martial, saying there was “no democracy” in the country. Retired chief justice Sarath Silva criticised the treatment of Fonseka, who challenged President Mahinda Rajapakse […]
Sri Lanka state worker cost climbs to new high
Mar 15, 2010 (LBO) – Sri Lanka state workers took away 57 cents as salaries and wages out of every tax rupee paid by the people in 2009, as the government continued to expand a bloated public service amid an economic slump, the latest official data showed. Salaries and pensions of workers climbed to 353 […]
Slick Market
Mar 14, 2010 (LBO) – Sri Lanka’s Chevron lubricants unit said sales fell in 2009 with a downturn in local and export demand, but is expecting a recovery this year with new demand expected from former war torn areas. The firm said industry volumes fell 7. 0 percent in which was the third consecutive year […]
Sri Lanka newspaper poll shows support for IMF, EU stance
Mar 14, 2010 (LBO) – A decision by the International Monetary Fund to suspend its program to Sri Lanka and a European Union decision to lift trade benefits have found wide support in a newspaper poll. A poll by the business news section of The Sunday Times, an influential weekly, found that 74 percent of […]
Sri Lanka lifts taxes on gold imports
Mar 13, 2010 (LBO) – Sri Lanka has lifted taxes and levies on gold imports from to promote jewellery industries in the country, the central bank said. “The removal of all applicable import taxes and other levies on gold imports will reduce the gold prices in the market and contribute to promote gold and jewellery […]
Sri Lanka abused human rights: US report
WASHINGTON, March 11, 2010 (AFP) – Sri Lanka violated human rights last year as it dealt a final blow to Tamil Tiger insurgents and clamped down on media freedom, the US State Department said Thursday. But the State Department also reported some improvements. It said that the number of disappearances went down with the end […]
Sri Lanka must curb state consumption, inflate less to raise incomes: economist
Mar 12, 2010 (LBO) – Sri Lanka has to curb excessive state consumption, keep inflation low to encourage private savings, and improve governance to draw foreign capital to promote growth and incomes, a top economist has said. Higher savings were required to increase growth and achieve the targets of replicating the economic success of East […]