Tag: Sri Lanka
Power Deal
SYDNEY, August 19, 2009 (AFP) – Australia touted itself as a “global energy superpower” after shrugging off diplomatic tensions with China to sign a record 41.3 billion US dollar resources deal.In Australia’s biggest ever trade agreement, PetroChina ordered 2.25 million tonnes of liquefied natural gas (LNG) a year over two decades from ExxonMobil’s share of […]
Sri Lanka property eyed by Indian developer after war: report
Aug 19, 2009 (LBO) – India’s Puravankara Projects, a Bangalore-based developer is looking to start an upmarket housing project after a civil war ended, an Indian media report said, though the property market in the island is in the doldrums. The report said Puravankara’s Sri Lanka move comes at a time when Bangalore itself is […]
Sri Lanka gets more US aid for refugees, demining
Aug 19, 2009 (LBO) – The United States said it is giving more aid to Sri Lanka to support civilians displaced by the ethnic war and to clear land mines so they could return home soon. The US embassy said in a statement it is giving two million dollars to support the needs of refugees […]
Sri Lanka budget deficit expands at a slower pace in May 2009
Aug 18, 2009 (LBO) – Sri Lanka’s runaway budget deficit expanded at a slower pace in May 2009, though the gap in the current account widened to a new record, the latest official data show. The revenue or current account deficit of the budget, which is the difference between total revenues and current (day-to-day) expenses, […]
‘s image: opposition
August 17, 2009 (AFP) – Sri Lanka risks further damage to its image by failing to improve conditions for tens of thousands of war-displaced people held in squalor, the island’s main opposition leader said on Monday.Opposition leader and former premier Ranil Wickremesinghe warned that the spread of diseases in the camps during the current rains […]
Sri Lanka central bank holds policy rates steady
Aug 18, 2009 (LBO) – Sri Lanka’s central bank held policy rates steady at 11.00 percent for the second straight month saying market interest rates were falling, inflation is bottoming out but expected to remain at single digits in 2009.“As in other parts of the world, in Sri Lanka too, inflation is expected to rise […]
Sri Lanka rains flood 2,000 shelters at camp: UN
August 18, 2009 (AFP) – Heavy rains flooded nearly 2,000 makeshift shelters housing Sri Lankan Tamil war refugees detained by the government, the United Nations said Tuesday, raising concerns about their health. The strong rains last weekend lashed the northern Vavuniya district where over 250,000 people displaced during the final stages of the ethnic conflict […]
Sri Lanka to push overseas investments
Aug 17, 2009 (LBO) – Sri Lanka is seeking to encourage local businessmen to venture overseas by establishing clear rules and reducing red tape, especially for capital outflows, seen as a key impediment, a senior official said. Kanchana Ratwatte, the new chairman of the National Enterprise Development Authority (NEDA), said a growing number of Sri […]
Sri Lanka core measure may have understated inflation: IMF study
Aug 17, 2009 (LBO) – An official core-inflation index for Sri Lanka may have understated underlying price pressures in 2008, but there is wide disagreement even among proponents of core measures about their calculation and usefulness, a new International Monetary Fund study has said. “Although not stated explicitly, it was implied that headline inflation would […]
‘s war refugee camps flooded: govt official
August 16, 2009 (AFP) – Heavy rains flooded camps housing some of Sri Lanka’s 300,000 war refugees, officials said Sunday, raising fears for the welfare of the detainees.She said a section of the Manik Farm camp was the worst hit by the floods as the drainage system was only half built. The privately-run Sunday Times […]
Fuel Loss
Aug 14, 2009 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, said it lost 856.7 million rupees in the June 2009 quarter, down from a profit of 1.0 billion rupees a year earlier, as it was squeezed between high taxes and government mandated prices.The import price of diesel and also kerosene is higher […]
US promotes Sri Lanka investment
Aug 14, 2009 (LBO) – The United States is holding a conference in Colombo in October, with participation of Sri Lankan officials for US firms to explore investment opportunities following the end of a 30-year war in the country. “This private-public conference will provide U.S. firms a unique opportunity to be among the first investors […]