Tag: Sri Lanka
‘s reserves have been drained so far, as the Central Bank tries to defend a weak rupee.
Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]
Ten percent of the Lanka’s reserves have been drained so far, as the Central Bank tries to defend a weak rupee.
Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]
US Lanka talks on “MegaPorts”
The United States and Sri Lanka will soon enter discussions regarding the island’s participation in “MegaPorts,” a U.S. Department of Energy (DOE) initiative to curb the illicit movement of radioactive materials worldwide. The United States and Sri Lanka will soon enter discussions regarding the island’s participation in “MegaPorts,” a U.S. Department of Energy (DOE) initiative […]
About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for World Bank help
About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. Sri Lanka’s total project allocation for 2004 tops US$ 400 mn, but World […]
Central Bank backs agro growth through credit from formal financial sector, rather than direct intervention
Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said.Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said. […]
Treasury Secretary invites exporters for talks
The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday.The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday. Speaking at a seminar on government […]
Love Lost
Rising inflation and falling reserves is likely to put an end to Sri Lankas eight month long honeymoon with low interest rates.The Central Bank hinted that it is unlikely to keep down short-term interest rates next month, as a declining trend in inflation bottoms out keeping in line with rising consumer prices.rn rnThe bank on […]
Short Break
The industrial sector will get a tariff-hike holiday in the short term when electricity prices are increased next time, assures Treasury Secretary Dr.P B Jayasundara. The industrial sector will get a tariff-hike holiday in the short term when electricity prices are increased next time, assures Treasury Secretary Dr. P B Jayasundara. The last electricity tariff […]
Drying Up
Aid flows fell sharply in the first five months as the government lost donor support due to policy about-turns. Gross inflows in the first five months amounted to Rs. 28 bn with Rs. 98 bn being the target set by the previous government for this year.rn rnNet borrowing to support the budget was expected to […]
Putting It Up
The Ceylon Electricity Board is looking at ways of controlling Sri Lanka’s unruly street lamps that show disturbing tendencies of behaving like local politicians.The Ceylon Electricity Board is looking at ways of controlling Sri Lanka’s unruly street lamps that show disturbing tendencies of behaving like local politicians. Sri Lanka’s political culture is rubbing off even […]
Turning 50
Sri Lanka and the World Bank sealed half-a-century of cooperation on Friday by inking another large-scale development aid package.Sri Lanka joined the World Bank in 1950 and singed its first loan agreement with the International Development Bank on July 9, 1954. rn The loan for US $ 19.1 mn, was for the construction of the […]
Second Warning
Continuing its campaign against pyramid schemes, Central Bank is again warning the public that persons who buy a product, not for its own sake but expecting future returns from getting more enter the scheme, are not engaging in a simple trade transaction but a different type of game. “As the expectation of future returns is […]