Tag: Sri Lanka
Sri Lanka July inflation up sharply
July 31, 2007 (LBO) – Sri Lanka’s consumer prices shot up to 17.6 percent in the year to July with the index growing 2.8 percent in the past 30 days, the government’s statistics office said Tuesday. . In the year to June inflation was only 13.0 percent, but monthly inflation has been edging up on […]
India-Sri Lanka peace accord marks 20 years with war
July 30, 2007 (AFP) – When India and Sri Lanka signed a peace pact two decades ago it was hailed as a landmark that could end Asia’s longest running civil war. But since then, the bloodshed has only got worse. The 1987 accord envisaged the disarming of Tamil Tiger separatists by India, which had armed […]
Sri Lanka set for record growth despite conflict
July 29, 2007 (AFP) – The recent escalation in fighting in Sri Lanka has not derailed the nation’s economy, with the island on track to record its fastest growth in nearly three decades, according to the central bank. Conflict between government troops and Tamil rebels has claimed more than 5,200 lives since late 2005, with […]
Sri Lanka trade unions redundant as privatization ends political victimization: study
June 29, 2007 (LBO) – Less political victimization and better benefits have seen workers of privatized Sri Lankan companies opting out of trade unions, a recent survey showed. Meanwhile, the government has said it will close Sri Lanka’s privatization arm, the Public Enterprise Reform Commission, as the sale of state assets was no longer a […]
Sri Lanka navy says six Tigers killed in sea skirmish
July 28, 2007 (AFP) – The Sri Lankan naval said Saturday it had destroyed at least two suspected Tamil Tiger boats off the island’s northwestern coast, killing at least six rebels.Naval patrol craft intercepted the boats, believed to belong to the Liberation Tigers of Tamil Eelam (LTTE), off the coast of Mannar, navy officials said. […]
Sri Lanka, Capitalism 2.0, a dead Doha and the new economic order
July 27 (LBO) – Small countries like Sri Lanka would have been better off had world trade talks succeeded as the alternative is bilateral trade deals with stronger, increasingly protectionist economic partners, a top European economist said. Protectionist sentiment was on the rise in established capitalist countries who feel threatened by the emergence of new […]
Sri Lanka foreign reserve outflow under control: Central Bank
July 26, 2007 (LBO) – Sri Lanka’s balance of payments is under control despite the steady loss of foreign reserves in the past few weeks and the rupee coming under pressure, Central Bank officials said. The country has been losing foreign reserves since April when international reserves peaked in the wake of tight monetary policy […]
Sri Lanka to appoint joint mangers for sovereign bond
July 26, 2007 (LBO) – Sri Lanka would choose more than one lead manager to the upcoming sovereign bond issue, with evaluations of bids to begin soon after a beauty parade ends this Friday, Central Bank Governor Nivard Cabraal said. “We want to increase Sri Lanka’s reach to a broader spread of investors,” Cabraal told […]
Sri Lanka court allows appeal against eviction of Tamils
July 26, 2007 (AFP) – Sri Lanka’s Supreme Court said on Thursday it would hear an appeal challenging the eviction of nearly 400 minority ethnic Tamils from Colombo by authorities in an anti-rebel drive.The court fixed a formal hearing for November. The three-judge bench granted “leave to proceed” in a case filed against the police […]
Sri Lanka opposition groups in protest rally
July 26, 2007 (AFP) – Thousands of opposition activists and ruling party dissidents took to the streets of the Sri Lankan capital Thursday in protest against human rights violations and high living costs.Supporters of the main opposition United National Party and a group of ruling party dissidents led by former foreign minister Mangala Samaraweera marched […]
Investment banks in detailed bids for Sri Lanka sovereign bond
July 25, 2007 (LBO) – Investment banks vying to lead-manage a sovereign bond issue have started to make detailed presentations to the Sri Lanka government as official data showed that the country’s foreign reserves were coming under pressure. The beauty parade is expected to be completed this week with banks making proposals for 400 and […]
Sri Lanka badmouthed by terrorists, sympathizers, political promoters, ignoramuses: CB Governor
July 25, 2007 (LBO) – Negative views about Sri Lanka’s economy are promoted by terrorists, terror sympathizers, promoters of political agendas and people who are unaware of the real picture, the country’s Central Bank governor said. “We are not saying Sri Lanka is perfect. We have a lot of room to grow. We have a […]