Tag: Sri Lanka
‘s inflation rate climbs to 17.7% in June
June 30, 2006 (LBO) – Sri Lanka’s inflation rate for June jumped to 17.7 percent, official figures showed Friday, spurring concerns that the Central Bank may hike interest rates again. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in violence, as sporadic attacks on […]
Sri Lanka expects economy to expand by 8% this year
June 30, 2006 (LBO) – Sri Lanka’s economy is expected to grow by a better-than-expected 8.0 percent, this year a senior government official said a day after the central bank forecasted year end growth of 7.0 percent. The bank cautioned that economic expansion would remain vulnerable to an upsurge in violence, as sporadic attacks on […]
Killings slow Sri Lanka’s economic drive: World Bank
June 29, 2006 (LBO) – Sri Lanka’s deteriorating security situation is undermining growth and slowing the island’s attempts to snap out of the poverty trap, a top World Bank official said Thursday. “The political situation and the sustained violence in the recent past are undermining the potential for growth,” the bank’s country head designate for […]
Sri Lanka’s economy expands 8.1% first quarter: Central Bank
June 29, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy expanded by 8.1 percent during the first quarter of this year, ahead of a recent government forecast of 7.0 percent, the Central Bank said Thursday. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in […]
‘s economic drive: World Bank
June 29, 2006 (LBO) – Sri Lanka’s deteriorating security situation is undermining growth and slowing the island’s attempts to snap out of the poverty trap, a top World Bank official said Thursday. “The political situation and the sustained violence in the recent past are undermining the potential for growth,” the bank’s country head designate for […]
‘s economy expands 8.1% first quarter: Central Bank
June 29, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy expanded by 8.1 percent during the first quarter of this year, ahead of a recent government forecast of 7.0 percent, the Central Bank said Thursday. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in […]
Light Savings
June 29 (LBO) – All consumers who save electricity will get a 10 percent discount on their next bill, while low usage will also be rewarded with free energy saving bulbs. The first 30 units will be exempt, while usage between 31 and 90 units will be charged an extra one rupee a unit, and […]
Sri Lanka central bank responds to media reports over superannuation fund.
June 29, 2006 (LBO) – Sri Lanka’s Central Bank, which is the custodian of the superannuation fund of the country’s private sector workforce said it’s the 405 billion rupee fund has been giving returns higher than bank deposits, and member balances were safe. The bank said it was responding to recent media reports. Central Bank […]
Sri Lanka needs to shake off its welfare state mentality: World Bank
June 26, 2006 (LBO) — Sri Lanka’s economic programmes must be protected from the political uncertainties of delicate coalitions and resolve the ethnic conflict, if it needs to make headway to tackle widespread poverty, the World Bank said Monday. “The more endemic problem is the attitude of entitlements associated with the popular perceptions that Sri […]
Burning Low
June 18, 2006 (LBO) – Sri Lankans have been urged to crawl under the sheets early, turn up the heat on air-conditioners and give up late night football to save energy¦..or not. But despite the best laid plans, “what people really respond to is price”, Siyambalapitiya says, over any real goodwill to dim the lights […]
Sri Lanka 1Q06 GDP over 7%
June 16, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy has expanded in excess of seven percent during the first quarter of this year, a senior government official said. “Economic growth has been very steady, growing at just over 7-percent for the first quarter of this year,” Secretary to the Policy Planning Ministry, Nivard Cabraal […]
Simmering Heat
SINGAPORE, June 12, 2006 (AFP) – Oil prices were easier in Asian trade Monday, with the market waiting for the next lead on tensions over Iran’s controversial nuclear programme after a fresh spike Friday, dealers said. At 10:30 am (0230 GMT), New York’s main contract, light sweet crude for July delivery, was down 11 cents […]