Tag: Sri Lanka
Sri Lanka post-war recovery hit by graft, violence: watchdog
December 15, 2009 (AFP) – Sri Lanka’s recovery from its decades-long civil war has been marred by graft, violence and a culture of lawlessness, a global watchdog said Tuesday.Transparency International rapped the government — which crushed the Tamil Tiger separatist rebels in May — for a lack of democracy, accountability and transparency. “The latter half […]
Sri Lanka north to put on business expo
Dec 14, 2009 (LBO) – Sri Lanka is to host its first ever business expo in the North of the island, following the end of the country’s over three decade war. The expo is to be held from April 18 to April, 20 2010 at the Jaffna Central College. The trade fair is expected to […]
Sri Lanka holds policy rates, despite inflation pick up
Dec 14, 2009 (LBO)- Sri Lanka’s central bank said it was holding its key policy rate at which money is injected to the economy at 9.75 percent, and the rate at which money is drained at 7.50 percent, to support credit growth, despite a pick up in inflation. “Prospects for domestic economic activity have improved […]
Sri Lanka current account in surplus amid economic slump
Dec 14, 2009 (LBO) – Sri Lanka’s external current account is expected to swing into a surplus in 2009, for the first time since 1977, the central bank said, as the island was gripped by a severe trade contraction and economic slump. The central bank has locked up over five billion US dollars in reserves […]
Oil Bids
Dec 11, 2009 (LBO) – Sri Lanka is ready to calls for bids for oil exploration in more blocks in the island’s north-west as well as the south, Petroleum Resources Minister A H M Fowzie said.Fowzie said oil and gas discoveries on the Indian side of the Mannar Basin meant there was a better chance […]
Sri Lanka business says worker training key in former war zone
Dec 11, 2009 (LBO) – Sri Lanka’s former war zones in the north and east need vocational training to raise worker productivity, corporate leaders have told a visiting American diplomat.Better water supply and cold storage facilities to bring fresh produce to markets were also critical requirements, they told US Assistant Secretary of State Robert Blake […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sri Lanka ex-general fears Tiger attack on presidential bid – Interview
December 8, 2009 (AFP) – Sri Lanka’s former military chief who led troops to victory over Tamil separatists in May said he fears fugitive rebels will try to assassinate him during his presidential election campaign.Sarath Fonseka, who is trying to unseat President Mahinda Rajapakse in the January 26 elections, told AFP that about 1,000 Tamil […]
”’ Sri Lanka: Senate
WASHINGTON, December 7, 2009 (AFP) – A US Senate report warned Monday that Washington risked “losing” Sri Lanka as it recovers from war and called for more active engagement to stop the island drifting from the West.The Senate Foreign Relations Committee, in a bipartisan study, said the United States should be firm on human rights […]
Sri Lanka central bank in 5-year investment horizon for gold
Dec 07, 2009 (LBO) – Sri Lanka is looking at a 5-year horizon for its reserve investments in gold, Central Bank governor Nivard Cabraal said as gold hit historic highs against the dollar amid unprecedented US money printing.Gold hit 1,200 against the Federal Reserve unit amid unprecedented loose monetary policy pursued by the Fed. There […]
Sri Lanka back on investment radar
December 6, 2009 (AFP) – Sri Lanka is back on the global investment radar after government forces in May ended a nearly four-decade separatist war with Tamil guerrillas, fund managers and analysts say. Sri Lanka’s small stock exchange has become one of the world’s top performing bourses, climbing over 96 percent this year as it […]
UN View
GENEVA, December 4, 2009 (AFP) – The UN refugee agency said on Friday that it was encouraged by “increased freedom of movement” for war-displaced civilians in Sri Lanka who have been in internment camps in the north of the island. “We are encouraged by the Sri Lankan government’s long-awaited decision this week to allow increased […]