Tag: Sri Lanka
Sri Lanka citizen activist calls for more budget transparency
July 27, 2012 (LBO) – A Sri Lankan citizen and former top business executive, has called for greater transparency in disclosing budget numbers including present values of future liabilities and an overall public deficit figure. Chandra Jayaratne, a former head of Sri Lanka’s Ceylon Chamber of Commerce said better disclosures should be made by the […]
‘s 2013 budget to allocate funds for lesson commission proposals
July 27, 2012 (LBO) – Sri Lanka’s budget for 2013 will allocate funds for state agencies where money is needed to implement recommendations of a commission which went in to the root causes of a civil war, a top official said. Sri Lanka’s Lessons Learnt and Reconciliation Commission (LLRC), has come up with a number […]
‘s business climate and free trade can soften Eurozone effect: envoy
July 26, 2012 (LBO)- Sri Lanka can further improve its business climate to propel growth, attract more investors while freeing trade could ease also soften the impact of a Eurozone crisis, a diplomat has said. British high commissioner (ambassador) John Rankin, told an annual meeting of Sri Lanka’s Ceylon Chamber of Commerce that greater protectionism […]
Sri Lanka gets US$437mn in FDI up to May: Central Bank
July 25, 2012 (LBO) – Sri Lanka is estimated to have received about 437 million US dollars in foreign direct investments up to May 2012, while 187 million US dollars have flowed into stocks in the first half of the year, the Central Bank said. FDI is equity, loans from parents and re-investment by foreign […]
‘s war torn image still hurting economic prospects: diplomat
July 25, 2012 (LBO) – Sri Lanka needs to improve its image overseas and promote a stable macroeconomic environment to help build bilateral trade links and attract more foreign investors, a Dutch diplomat said. Bas Van Noordenne, Netherland’s deputy head of mission in Sri Lanka told a business forum that people still associate Sri Lanka […]
Lube Warning
July 22, 2012 (LBO) – Sri Lanka’s Chevron Lubricants has reported net profits of 533 million rupees in the June 2012 quarter, up 26 percent from an year earlier, but has warned of tougher times ahead. The firm said earnings for the quarter were 4. 40 rupees per share. In the half year to June […]
‘s new IMF program to back longer term goals
July 23, 2012 (LBO) – A new two year program to be discussed with the International Monetary Fund will support longer term goals of the administration which may involve improving revenues, state enterprises, or keeping deficits and inflation down, officials said. Details discussions on the program will be held with the arrival of the next […]
Sri Lanka in talks with IMF for longer term program
July 22, 2012 (LBO) – Sri Lanka is to begin talks with the International Monetary Fund for an ‘Extended Fund Facility’ which could result in citizens getting long term economic liberties and the implementation of prudent measures to prevent economic shocks that hurt people. A reduction of state interventions in the economy in the form […]
Sri Lanka gets final IMF tranche, asked to watch inflation, state firms
July 21, 2012 (LBO) – Sri Lanka should watch inflation, the budget gap and fix energy enterprise to the economy stable in the future the International Monetary Fund has said ending a three-year bailout program. The IMF released a final 415 million US dollar tranche under a 2.5 billion US dollar bailout package, a somewhat […]
Sri Lanka inflation spike could be one-off: IMF
July 19, 2012 (LBO) – Sri Lanka’s recent spike in inflation following a steep depreciation of the currency is mostly a structural change in prices, and not continuous monetary inflation, an International Monetary Fund official said. As foreign reserves are sold down by the Central Bank, the trade gap widens and the current account deficit […]
Sri Lanka war-affected entrepreneurs to be recognised
July 19, 2012 (LBO) – Entrepreneurship awards by a Sri Lankan business chamber will include two new categories this year to recognise women running small enterprises in the former war zone and disabled entrepreneurs. Sri Lanka’s 30-year ethnic war which ended in 2009 left thousands of people disabled on both sides of the conflict and […]
Sri Lanka in push for stronger economic ties with US
July 17, 2012 (LBO) – Sri Lanka is pushing for stronger economic ties with the United States which will strengthen overall diplomatic relations between the two countries, a top diplomat said. “At this point we have a very straightforward and genuine relationship with the US,” Sri Lanka’s envoy to the United States, Jaliya Wickremasuriya said. […]