Tag: Sri Lanka
US House of representatives pressures Sri Lanka on refugee camps
WASHINGTON, November 4, 2009 (AFP) – The US House of Representatives urged Sri Lanka’s government Wednesday to guarantee the safety and quick release of some 300,000 Tamils and other war-displaced people currently held in camps.By an overwhelming 421-1 vote, lawmakers approved a non-binding resolution that calls on the authorities in Colombo to help the populations […]
Sri Lanka fiscal discipline key to economic growth: report
Nov 04, 2009 (LBO) – Fiscal discipline by Sri Lanka’s government will be critical to ensure economic recovery and sustained, high growth anticipated with the end of the ethnic war, RAM Ratings agency said. “Sri Lanka is now well poised to achieve high sustainable growth, as the end of the armed conflict provides the government […]
Fed Printing
NEW YORK, November 3, 2009 (AFP) – Oil prices leapt Tuesday as commodities gained a boost from gold, which struck an all-time high above 1,000 dollars an ounce as markets fret about the prospects of global recovery from recession.New York’s main contract, light sweet crude for delivery in December, rose 1.47 dollars to close at […]
‘s opposition unites to face snap polls
November 3, 2009 (AFP) – Sri Lanka’s main opposition on Tuesday formed an alliance with minority Tamil and Muslim parties and a breakaway faction of the ruling coalition to contest possible snap elections.The next presidential poll, which was due by November 2011, will now be held before April 2010, according to the government. Opposition leader […]
Sri Lanka tables interim budget
Nov 03, 2009 (LBO) – Sri Lanka has presented an interim plan to parliament ahead of polls expected in the first quarter of 2010 seeking permission from lawmakers to spend up to a third of last year’s budget.Government spending has been reined in somewhat under a deal agreed with the International Monetary Fund with strict […]
Sri Lanka should import proven leadership talent: business executive
Nov 03, 2009 (LBO) – Sri Lanka should consider importing people with proven track records to run government as native leaders have consistently failed to deliver and develop the country after independence from Britain, a senior private sector executive has said. “When a company fails and has continuous losses, what do you do? The management […]
15 feared dead as unidentified boat sinks off Australia
SYDNEY, November 2, 2009 (AFP) – About 15 people were feared dead on Monday after a boat carrying 39 sank in rough seas far off northwest Australia despite frantic rescue attempts by a passing merchant ship and fishing vessel.Defence chief Angus Houston said the unidentified boat capsized and then sank after the LNG Pioneer ship […]
‘s former rebels
October 30, 2009 (AFP) – The United States on Friday announced funding for up to 1,000 former Tamil guerrillas to reintegrate in society by starting their own businesses or learning new skills. The US embassy here said they were giving equipment and supplies to ex-fighters while vocational training was also being made available to help […]
Sri Lanka rupee weakens against Euro helping exporters: Central Bank
Oct 30, 2009 (LBO) – The Sri Lanka rupee has weakened against the Euro and Sterling since November 2008 increasing the edge of exporters to Europe and helping offset a possible hit from lost trade concessions, Central Bank Governor Nivard Cabraal said.“It is our contention that Sri Lanka’s exporters’ competitiveness to the European Union had […]
Sri Lanka state workers receive billions in subsidized housing credits
Oct 30, 2009 (LBO) – Sri Lanka’s state workers have recieved billions of rupees of housing loans at rates as low as 4.0 percent while homeless ordinary citizens were forced pay high rates as fiscal deficits pushed interest up, it has been revealed. Under a presidential directive issued this week, state banks have been ordered […]
Sri Lanka inflation accelerates to 1.4-pct in October
Oct 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 1.4 percent in October 2009 from a year earlier, against 0.7 percent in September, the government’s statistics office said.Treasury pressure to print money between 2004 and 2006 and keep interest rates low pushed Sri Lanka’s inflation to above 20 percent and created […]
Sri Lanka 2009 end inflation to be 3.5-pct: CB Governor
Oct 29, 2009 (LBO) – Sri Lanka’s inflation would be 3.5 percent by end-2009 setting the stage for lower interest rates and higher growth as investor confidence in the economy was rising, Central Bank Governor Nivard Cabraal said. “We are having inflation of one percent and we intend to keep it that way,” Cabraal told […]