Tag: Sri Lanka
Sri Lanka PM arrives in Japan
TOKYO, September 15, 2008 (AFP) – Sri Lankan Prime Minister Ratnasiri Wickremanayake on Monday arrived in Japan, the South Asian country’s top donor, for talks with counterpart Yasuo Fukuda, officials said.Fukuda, who abruptly resigned two weeks ago, will formally stay in office as Japan’s prime minister until parliament appoints the next prime minister following the […]
Sri Lanka central bank says August money growth controlled
Sept 15, 2008 (LBO) – Sri Lanka’s central bank said it had maintained targets for reserve money, in the months of July and August, which is its main operational target instead of policy rates, causing inflation and credit growth to fall. The average reserve money in August was 280.9 billion rupees, indicating a growth of […]
Credit Shuffle
Sept 15, 2008 (LBO) – Sri Lanka’s state-run petroleum utility Ceylon Petroleum Corporation (CPC) is covering overdue government accounts with an Iranian credit, but its finances are too fragile to cut prices, a top official said.Iran has given the CPC a rolling credit to cover four months of imports interest free and another three months […]
Pricing Politics
Sept 14, 2008 (LBO) – Sri Lankan fuel users are suffering from the lack of a transparent price formula and severe politicization of pricing that had sometimes caused high inflation and balance of payments troubles in the island. Diesel users are mostly commercial enterprises and super rich sections of society including politicians who are allowed […]
Sri Lanka slams UN chief
September 11, 2008 (AFP) – UN Secretary General Ban Ki-moon came in for tough criticism Thursday from Sri Lanka’s government, which accused him of unwittingly helping Tamil Tiger rebels. Responding to the UN chief’s concern over civilians displaced by heavy fighting in the north of the island, a Sri Lankan government rights official said a […]
Exploration Spend
Sep 11, 2008 (LBO) – Cairn India said its Sri Lanka unit had signed a deal with Sri Lanka’s investment promotion office to cover a 110 million US dollar oil exploration program. The company was given an off-shore exploration block in the north western Mannar Basin of the island. “The Mannar basin is a frontier […]
Sri Lanka becomes top South Asian reformer in 2008: IFC study
Sept 10, 2008 (LBO) – Sri Lanka has been rated the top South Asian reformer in an annual business regulation study by the World Bank group, with a new company law and credit information improvements boosting its scores.Singapore led the global rankings on the overall regulatory ease of doing business for a third consecutive year.New […]
UN pulls out of Sri Lanka war zone
September 9, 2008 (AFP) – The United Nations said Tuesday it was withdrawing all its aid agency personnel from Sri Lanka’s embattled north, following a government order to quit ahead of a major military offensive. Only a few aid agencies, including the UN outfits, still operate inside the rebel-held Wanni district in northern Sri Lanka. […]
ICRC steps up aid efforts in Tiger-held areas of Sri Lanka
GENEVA, September 9, 2008 (AFP) – The international Red Cross said Tuesday it has stepped up its efforts to assist thousands of displaced people in the rebel-held Wanni area of northern Sri Lanka. Tens of thousands of people have died on both sides since the Liberation Tigers of Tamil Eelam launched a separatist campaign in […]
Sri Lanka prosperity index find wide divisions and gains
Sept 08, 2008 (LBO) – Sri Lanka’s most prosperous conditions are found in the Western province followed by the central and southern province, while the Northern province trails behind, an index devised by the Central Bank has found. Officials say the index goes beyond traditional measures like economic growth to find out what makes people […]
Bunker Deadline
Sept 08, 2008 (LBO) – Sri Lanka’s Supreme Court has given the bunkering unit of John Keells Holdings (JKH) till September 12 to vacate a tank farm, and the company has been ordered to pay compensation to workers, lawyers said. LMS earlier sought and received time till September 10 to take away its oil stocks […]
‘s inflation tops 27-pct
TEHRAN, September 7, 2008 (AFP) – Iran’s inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods. The consumer price index (CPI) in urban areas increased by 27.6 percent compared to the same […]