Tag: Sri Lanka
Sri Lanka inflation accelerates to 2.8-pct in November
Nov 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 2.8 percent in November 2009 from a year earlier, against 1.4 percent in October, indicating inflation is picking up, the government’s statistics office and analysts said. The statistics office said that in November 2009, the 12-month moving average, a seasonally adjusted inflation […]
‘s ex-military chief declares presidential run
November 29, 2009 (AFP) – The Sri Lankan general who led troops to victory over Tamil separatists after decades of war formally announced on Sunday that he would try to unseat the president in January elections.Sarath Fonseka declared he would stand against President Mahinda Rajapakse, who claims credit for the defeat of Tamil Tigers in […]
‘s ex-military chief says will run for presidency
November 28, 2009 (AFP) – Sri Lanka’s ex-military chief has said he plans to run for the presidency in January elections in a bid to unseat his former boss Mahinda Rajapakse.Meanwhile, a group of opposition parties met elections commissioner Dayananda Dissanayake late Friday after he formally announced the date of the presidential poll, an opposition […]
Sri Lanka gets new tourism minister
Nov 27, 2009 (LBO) – Achala Jagoda, a parliamentarian representing the National Freedom Front, an ally of the ruling coalition has been appointed the island’s new tourism minister, the government’s information office said.Nandana Gunatileke, the former minister left the NFF, which is a breakaway faction of Sri Lanka Marxist Nationalist Janatha Vimukthi Peramuna. Gunatileke has […]
Sri Lanka to hold presidential poll Jan 26: election office
November 27, 2009 (AFP) – Sri Lanka’s electoral office said Friday that presidential elections would be held on January 26, with President Mahinda Rajapakse expected to face his former military chief Sarath Fonseka.“Elections will be held on the 26th of January,” Dayananda Dissanayake, the commissioner of elections, told AFP by telephone. Rajapakse, 64, called the […]
Sri Lanka must tackle corruption to lure investors: US envoy
Nov 27, 2009 (LBO) – Sri Lanka must act against corrupt government officials and businessmen and ensure local firms play fair with foreign companies if it wants to attract investors, the American envoy to the island has said. It needs to unshackle the media, be more open to trade and better protect intellectual property rights […]
Sri Lanka buys 10 tonnes of gold from IMF
Nov 25, 2009 (LBO) – Sri Lanka has bought 10 metric tonnes of gold for 375 million US dollars from the International Monetary Fund, following in the wake of India and Mauritius, the international monetary watchdog said. The IMF said the deal was made at November 23 prices. Sri Lanka’s central bank Governor Nivard Cabraal […]
‘s sharp reversal of fortunes
DUBAI, November 26, 2009 (AFP) – The plan by state-owned Dubai World to suspend payments on its large debts highlights the sharp economic reversal in the once-booming Gulf Emirate.A timeline of events since the global economic crisis began: 2008 – Oct 5:The frenetic expansion of Dubai appears relentless as state-owned Nakheel announces plans for a […]
Dubai debt fears hit world stock markets
LONDON, November 26, 2009 (AFP) – Global equities slumped Thursday, with Europe down three percent after Dubai’s shock call to suspend the debt of a key state company fuelled anxiety about excessive public borrowing, analysts said. The government of Dubai shocked financial markets on Wednesday when it said it would ask creditors of its Dubai […]
Sri Lanka will not collect back taxes from war torn areas: official
Nov 25, 2009 (LBO) – Sri Lanka’s revenue office will not collect back-taxes from areas that have emerged from a 30-years war but will set up branches to start tax collection as economic activities pick up, an official said.“We are not trying to collect taxes due in previous years,” commissioner general of Sri Lanka’s Inland […]
Sri Lanka needs monetary tightening to head off inflation spike: economists
Nov 25, 2009 (LBO) – Sri Lanka’s inflation may top 10 percent next year unless corrective action is taken, and recent trends in the island’s most widely watched index should not make policymakers complacent, economists have said. Prices in Sri Lanka’s capital, measured by a revised Colombo Consumer Price Index, rose 1.4 percent in October […]
Sri Lanka says move to fair value accounting difficult
Nov 25, 2009 (LBO) – The global move towards fair value accounting might prove difficult for south Asian countries as they lack active markets to support such valuations, a senior Sri Lankan accountant said. Reyaz Mihular, chairman of the Accounting and Auditing Standards Committee of South Asian Federation of Accountants, said a key point of […]