Tag: Sri Lanka
Swapping Risk
August 14, 2007 (LBO) – The Ceylon Petroleum Corporation (CPC), Sri Lanka’s state-owned petroleum firm has used a leveraged swap to hedge a small part of its oil imports during the past month with good results so far, officials said. Diesel spot prices had moved to around 84 dollars a barrel. CPC is held back […]
Sri Lanka living standards improving despite negative feelings: CB Governor
August 13, 2007 (LBO) – Despite perceptions of a lack of a ‘feel good’ factor steady gains are being made in living standards, Sri Lanka’s central bank governor Nivard Cabraal said. “Since there are perceptions and claims that people do not feel economic development. Let me also trace a few indications,” Cabraal told the members […]
Sri Lanka can wipe out poverty in a generation with practical policies: development economist
August 13, 2007 (LBO) – If market reforms and globalization that brought prosperity to Sri Lanka’s Western Province could be replicated countrywide, extreme poverty could be eliminated in a generation, a development economist said. Many economists had pointed out that Sri Lanka is held back by policy errors, despite being rich in human, natural resources […]
Sri Lanka underdeveloped regions deserve better – economist
August 13, 2007 (LBO) – A senior Sri Lankan economist has called for a higher allocation of resources for less developed regions of the island and special perks like higher pay for teachers serving those areas. Nimal Sanderatne, former senior visiting fellow at the Post Graduate Institute of Agriculture of the Peradeniya University, said one […]
Maldives shrug off IMF red flag over Rufiyaa peg
August 13, 2007 (LBO) – The Maldives has shrugged off a red flag from the International Monetary Fund (IMF) that its currency peg with the US dollar was under threat from a record budget deficit and money printing. Sri Lanka’s external reserves have also been under pressure in recent months and the country is going […]
Rains, troop shortages prevent Sri Lanka push against rebels
Aug 12, 2007 (AFP) – Sri Lanka’s military has been unable to push into Tamil Tiger strongholds in the north due to the threat of monsoon rains and a lack of manpower, defence officials and analysts say.The rebels are fighting for an independent homeland for the island’s minority Tamils.More than 60,000 people have been killed […]
Fresh Sri Lanka violence kills 12
Aug 12, 2007 (AFP) – At 12 people have been killed in fresh violence across Sri Lanka’s northern and eastern regions where a bitter ethnic war has raged for decades, military and Tamil rebel sources said Sunday.The ethnic conflict has claimed more than 60,000 lives since 1972.Suspected Tamil Tiger rebels set off a powerful land […]
”, urged to change attitudes
August 13, 2007 (LBO) – Sri Lankans need to change attitudes that are holding the country back despite it being reasonably well endowed with human and natural resources, a top economic analyst has said. Anila Dias Bandaranaike, a former director of statistics at Central Bank who had gained widespread respect for her independent analysis of […]
Sri Lanka can wipe out poverty in a generation with working policies: development economist
August 12, 2007 (LBO) – If market reforms and globalization that brought prosperity to Sri Lanka’s Western Province could be replicated countrywide, extreme poverty could be eliminated in a generation, a development economist said. Many economists had pointed out that Sri Lanka is held back by policy errors, despite being rich in human, natural resources […]
Corruption costs Sri Lanka 2% economic growth: senior economist
August 11, 2007 (LBO) – Public sector corruption in Sri Lanka is a key factor driving poverty and the country is losing two percentage points of economic growth a year from resources lost to sleaze, a senior economist said. He said another key cause of poverty was inflation, which affected the poor most because their […]
Sri Lankan and other scouts missing in Britain: police
LONDON, Aug 9, 2007 (AFP) – Thirteen scouts who came to Britain for the 100th annivesary of the international youth movement have disappeared, police said Thursday.“Since the start of the Jamboree, we’ve had 13 people reported missing,” an Essex Police spokesman said, referring to the centenary celebrations of scouting that took place in Chelmsford, east […]
UN urges Sri Lanka to disarm paramilitary group
Aug 9, 2007 (AFP) – The United Nations on Thursday urged Sri Lanka to disarm a pro-government paramilitary group operating in the east of the island to ensure safety and security for aid workers and residents.John Holmes, the UN undersecretary general for humanitarian affairs and emergency relief coordinator, ended a four-day tour of the country […]