Tag: Sri Lanka
Sri Lanka anchor currency inflation -1.4-pct in June
July 15, 2009 (LBO) – Inflation of Sri Lanka’s anchor currency, the US dollar, measured by the all urban consumer (CPI-U) index fell 1.4 percent in June from a year earlier, the Bureau of Labour Statistics said. In the month of June, inflation of the Sri Lanka rupee measured by the Colombo Consumer Price Index […]
Sri Lanka regional economic disparities narrowing: Central Bank
July 13, 2009 (LBO) – Regional economic disparities in Sri Lanka declined further last year although the Western Province continued to dominate with 45.4 percent share in gross domestic product (GDP), the Central Bank said. Provinces with smaller GDP have grown faster but a few lag behind and need more support, it said in a […]
Sri Lanka policy rates unchanged in July: Central Bank
July 13, 2009 (LBO) – Sri Lanka’s key reverse repo rate would be held at 11.00 percent while bank lending rates were moving steadily down in response to rate cuts, the Central Bank said in its July monetary policy review. Foreign hedge funds were putting money back into government securities. In May Sri Lanka’s military […]
Sri Lanka central bank warns of rising inflationary pressures
July 13, 2009 (LBO) – Sri Lanka’s central bank, which brought inflation down to 0.9 percent in June, warned of higher inflation raising the possibility that it may lag behind better performing dollar pegged peers in the region. Inflation fell to 0.9 percent in June, the lowest since February 2004, when consumer inflation in Sri […]
Sri Lanka power output, diesel sales down in April
July 12, 2009 (LBO) – Sri Lanka’s electricity generation in April 2009 fell 2.2 percent to 773 million units (GigaWatt hours) from a year earlier, while diesel sales were down 10.7 percent, the latest government figures showed. Sri Lanka’s economic growth slowed to 1.5 percent in the first quarter of 2009 from 6.2 a year […]
Sri Lanka creates new top military posts: official
July 12, 2009 (AFP) – Sri Lanka on Sunday named its first ever chief of defence staff and created the post of national security adviser to the president as part of an overhaul of the military.President Mahinda Rajapakse’s office said army chief General Sarath Fonseka would take over as Chief of Defence Staff (CDS) from […]
Australia intercepts boat with 73 Sri Lankans: report
July 12, 2009 (LBO) – Australia has intercepted a boat with 73 Sri Lankan asylum seekers who have now been transferred to a detention centre in Christmas Island, a media report said. Authorities were now trying to find out why they made the voyage, the report said.The Age newspaper said many women and children were […]
Sri Lankan moderate Tamil party asks freedom for 300,000 war-hit civilians
July 12, 2009 (AFP) – Sri Lanka’s main moderate Tamil political group Sunday accused the government of holding some 300,000 war-displaced civilians in “open prisons” and demanded their immediate release. The New York-based Human Rights Watch said the squalid camps, which are ringed with barbed wire, were a “national disgrace” and violated international law. The […]
Margin Call
July 11, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp., has urged the government to change import duties and blamed its 1.2 billion rupee loss in the year to March 2009 partly on an import duty hike. LIOC’s turnover last year rose 7.8 percent to 47.617 billion rupees, although it […]
Sri Lanka school dropouts doing great service to nation: minister
July 11, 2009 (LBO) – Dropouts from Sri Lanka’s education system are doing a greater service to the nation than those who have had a free education from the state education system, a senior minister said.Deputy finance minister Sarath Amunugama said more than a million Sri Lankans were working abroad sending nearly three billion dollars […]
Sri Lanka says US assured no blocking of IMF loan
July 9, 2009 (LBO) – Sri Lanka has received an assurance from a US diplomat that its application for a loan from the International Monetary Fund (IMF)) would be viewed on economic factors alone, the island’s foreign ministry said. Yesterday the government presented more ‘supplementary estimates’ to parliament to increase spending. Officials say Sri Lanka […]
” operations
July 9, 2009 (AFP) – The International Committee of the Red Cross said Thursday it had been ordered by Sri Lanka to scale down relief operations in the island where it has been helping civilian war victims. As a result, the ICRC said it was withdrawing expatriate staff from the battle-scarred northeast which was the […]