Tag: Sri Lanka
Sri Lanka halts sale of baby formula, foreign milk power advertising
Aug 07, 2013 (LBO) – Sri Lanka has halted the sale of imported baby formula following a contamination scare over New Zealand made dairy products and media organizations will be asked to stop advertising milk products, a senior health official said.Heath services director general Palitha Mahipala said a food advisory committee that met yesterday had […]
‘s sovereign rating can be upped on better fiscal, monetary policy: Fitch
Aug 07, 2013 (LBO) – Sri Lanka’s credit rating can be upgraded if fiscal and monetary policy improves leading to greater stability and steady growth and more foreign direct investment and less debt comes for investment, a senior Fitch Ratings official said.Sri Lanka has a ‘BB-‘ speculative rating, three levels below investment grade with a […]
Sri Lanka deficit to move down with lower rates, PPPs: CB Governor
Aug 06, 2013 (LBO) – Sri Lanka’s budget deficit will narrow and debt will slow with falling domestic interest rates and public private partnerships in infrastructure, Central Bank Governor Nivard Cabraal said. “We will see a huge reduction in interest costs,” Cabraal told a sovereign and banking forum organized by Fitch. In 2014 the budget […]
‘s faster growth bucking trend: Fitch
Aug 05, 2013 (LBO) – Sri Lanka’s economy is growing faster despite a slow global recovery, but the country needs more savings and foreign direct investments to reduce borrowings, senior rating analysts at Fitch said.Andrew Colquhoun, senior director and head of Asia Pacific sovereign ratings said a global recovery was still patchy, with the outlook […]
Sri Lanka steps up security as protest toll rises
COLOMBO, August 4, 2013 (AFP) – Police poured into a village near Sri Lanka’s capital ahead of the funeral Sunday of a teenager shot dead by troops during a protest against contaminated water, residents said. Criticism by the opposition and rights groups of the army’s use of force has mounted since the shootings.Private television networks […]
Hundreds denounce army killing of Sri Lanka protesters
August 5, 2013 (AFP) – Several hundred anti-government supporters staged a rare protest Monday in Sri Lanka’s capital to denounce a deadly army crackdown on villagers who were demonstrating against contaminated water supplies.Sri Lanka has denied that its troops were responsible for killing civilians or committing any war crimes. Around 300 followers of the left-wing […]
Second Sri Lankan dies after troops fire on villagers
COLOMBO, August 3, 2013 (AFP) – A second Sri Lankan protester died from wounds suffered when troops fired on villagers demonstrating against contaminated water supplies, police said Saturday, as tensions remained high in the area. Dipped Products Ltd, a publicly quoted company that maintains the manufacturing plant, said Friday it was confident the water issue […]
Sri Lankan protestor shot dead at tainted water demo
August 2, 2013 (AFP) – Sri Lankan security forces shot dead one protestor and wounded dozens more when they fired on villagers at a demonstration over contaminated drinking water, police and residents said Friday.Military spokesman Brigadier Ruwan Wanigasooriya said the army had been called in on Thursday night to assist the police when a mob […]
Sri Lanka president invites Pope Francis I to visit
Aug 02, 2013 (LBO) – President Mahinda Rajapaksa had invited Pope Francis I, the head of the Roman Catholic Church to visit Sri Lanka, his media office said. “On behalf of the Government and the people of Sri Lanka, I consider it a great privilege and an honour to extend to Your Holiness an invitation […]
Sri Lanka Softlogic appoints risk, retail chiefs
Aug 02, 2013 (LBO) – Sri Lanka ‘s Softlogic group said it had appointed two senior executives with domestic and international experience to head the group risk and audit function and its retail unit. After starting at KPMG Ford Rhodes Thornton & Company in 1981 he moved to Singer Industries (Ceylon) Ltd, and moved to […]
Sri Lanka sets date for polls in former war zone
August 1, 2013 (AFP) – Residents of Sri Lanka’s former war zone will go to the polls in September in a regional election expected to hand limited autonomy to minority Tamils, it was announced Thursday.The voting will be held on September 21 during a nine-hour period, a spokesman for the Election Commissioner told AFP. It […]
”’ rating confirmed by S&P; warns on debt, institutions
Aug 01, 2013 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s ‘B+’ sovereign rating with a stable outlook but warned on government debt and weak institutions. Sri Lanka’s external liquidity remains exposed to international liquidity conditions. Through 2015, we project that Sri Lanka’s gross external financing needs will exceed 120% of current account receipts […]