Tag: Sri Lanka
Former Sri Lankan President dies
September 21, 2008 (AFP) – Former Sri Lankan President Dingiri Banda Wijetunga, died on Sunday after a prolonged illness, his aide said.He was 86. Wijetunga, who was Sri Lanka’s third executive president, died of a chest ailment at a hospital in the central hillside town of Kandy, his aide Sarath Muniratne told reporters. A member […]
Sri Lanka needs low inflation, good institutions and governance to grow: economists
Sept 20, 2008 (LBO) – Sri Lanka needs good institutions, governance and economic tranquility that come with low inflation to grow, senior economists said, at a time when the island is suffering from the highest inflation in its history. The head of the Sri Lanka Economic Association (SLEA) A D V de S Indraratna said […]
Sri Lanka Tokyo Cement goes green to revive profitability
Sept 19, 2008 (LBO) – Sri Lanka’s Tokyo Cement group, whose profits dipped last year owing to higher raw material, energy and transport costs, says new eco-friendly manufacturing processes and products should help it revive profitability. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Chairman Edgar Gunatunga […]
Sri Lanka opens investment office in Shanghai
Sept 19, 2008 (LBO) – Sri Lanka has opened an investment centre in Shanghai and appointed an official of the Shin Kwan Group, a big investor in the island, as the honorary representative of the investment promotion agency.The Sri Lanka Centre in the Chinese port city is aimed at boosting bilateral economic relations between the […]
Sri Lanka gets US aid to develop eastern region
Sept 19, 2008 (LBO) – The United States has launched a programme to help develop Sri Lanka’s eastern region from where government forces have driven out Tamil Tigers and which for long has lagged behind other regions. “At the national level, CORE will focus on promoting business-friendly policies that will enable enterprises in the target […]
‘s tense north
September 16, 2008 (AFP) – The United Nations pulled its staff out of rebel-held areas in Sri Lanka’s north on Tuesday after the government refused to guarantee the safety of aid workers.Some 70,000 people have fled due to fighting in the past two months alone. The withdrawal came as the island’s government said it was […]
Sri Lanka economists to talk inflation at annual parley
Sept 17 2008 (LBO) – Sri Lanka’s economists are debating inflation, competitiveness and growth this Friday and Saturday at a time when inflation has hit a historic record in the island and subsequent tight monetary policy has strengthened the rupee. “The extent of such gap in aggregate supply will depend on whether the economy is […]
‘s Treasury chief leaves
Sept 17, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera is leaving his position having completed preparatory work on the 2009 budget, a senior government official said.Jayasundera originally handed over his resignation shortly after a court order faulted him on a privatization deal, but it was not immediately accepted. An official said the […]
EU voices concerned over Sri Lanka violence
BRUSSELS, September 15, 2008 (AFP) – EU Humanitarian Aid Commissioner Louis Michel on Monday expressed “grave concern” at the escalation of violence in Sri Lanka and called for human rights laws to be respected. Civilians should also be guaranteed safe passage to leave the conflict area “and relocate in safer areas,” he added. “I’m deeply […]
Sri Lanka to debate troubled state airline, public officer: lawmaker
Sept 16, 2008 (LBO) – Sri Lanka’s parliament will debate the issues of a state-run budget airline that has been eating up peoples’ money and a senior public official who was faulted by courts, an opposition lawmaker said. Jayasundera immediately offered to resign but the government has not accepted his resignation. Sri Lanka’s controversial Mihin […]
Sri Lanka to get more concessionary funds: ADB
Sept 16, 2008 (LBO) – Sri Lanka would get more than 200 million US dollars a year from the Asian Development Bank (ADB) over the next three years and the country would get more money from its concessionary window, an official said. The ADB’s country partnership strategy, which outlines its lending program for the island […]
Sri Lanka gets extra funds for roads, education, housing: World Bank
Sept 09, 2008 (LBO) – The World Bank has inked deals worth 151 million dollars to lend extra money for road, education and housing reconstruction in conflict-hit areas of Sri Lanka, the multilateral lender said.World Bank country chief Naoko Ishii said the additional financing will support the growth of infrastructure in lagging regions, the return […]