Economy

Gold price storms to record above 1,200 dollars

LONDON, December 1, 2009 (AFP) - The price of gold reached above 1,200 dollars an ounce for the first time on Tuesday as a weak US currency pushed up demand …

Sri Lanka private sector credit turns corner in Sept

Dec 02, 2009 (LBO) - Sri Lanka's private sector credit started expanding in September 2009 ending eight months of contraction and the Central Bank says it …

Sri Lanka inflation accelerates to 2.8-pct in November

Nov 30, 2009 (LBO) - Consumer prices in Sri Lanka's capital Colombo rose 2.8 percent in November 2009 from a year earlier, against 1.4 percent in October, …

Sri Lanka must tackle corruption to lure investors: US envoy

Nov 27, 2009 (LBO) - Sri Lanka must act against corrupt government officials and businessmen and ensure local firms play fair with foreign companies if it …

Sri Lanka buys 10 tonnes of gold from IMF

Nov 25, 2009 (LBO) - Sri Lanka has bought 10 metric tonnes of gold for 375 million US dollars from the International Monetary Fund, following in the wake of …

Dubai’s sharp reversal of fortunes

DUBAI, November 26, 2009 (AFP) - The plan by state-owned Dubai World to suspend payments on its large debts highlights the sharp economic reversal in the …

Dubai debt fears hit world stock markets

LONDON, November 26, 2009 (AFP) - Global equities slumped Thursday, with Europe down three percent after Dubai's shock call to suspend the debt of a key state …

Sri Lanka will not collect back taxes from war torn areas: official

Nov 25, 2009 (LBO) - Sri Lanka's revenue office will not collect back-taxes from areas that have emerged from a 30-years war but will set up branches to start …

Sri Lanka needs monetary tightening to head off inflation spike: economists

Nov 25, 2009 (LBO) - Sri Lanka's inflation may top 10 percent next year unless corrective action is taken, and recent trends in the island's most widely …

Sri Lanka says move to fair value accounting difficult

Nov 25, 2009 (LBO) - The global move towards fair value accounting might prove difficult for south Asian countries as they lack active markets to support such …

Iran gained 5 billion dollars by euro switch: banker

TEHRAN, November 23, 2009 (AFP) - Iran's central bank chief said on Monday that the country has gained five billion dollars by replacing the US dollar with the …

Sri Lanka resettlement plan needed: politicians, activists

November 22, 2009 (AFP) - The Sri Lankan government has failed to make adequate welfare provision for the 136,000 Tamil civilians it plans to release from …

Sri Lanka inflation seen subdued: IMF

Nov 20, 2009 (LBO) - Visiting International Monetary Fund officials said Sri Lanka's inflation is seen staying low with no sign of demand-driven inflationary …

Sri Lanka private equity fund upbeat on MBOs, retailing

Nov 19, 2009 (LBO) - A new private equity fund targeting Sri Lanka will focus on supporting management buyouts, and is upbeat on opportunities in retailing, …

Sri Lanka cuts rates, narrows policy corridor

Nov 18, 2009 (LBO) - Sri Lanka's Central Bank has cut its main policy rate that injects liquidity into the banking system by 75 basis points to 9.75 percent …

IMF sells two tonnes of gold to Mauritius

WASHINGTON, November 17, 2009 (AFP) - The International Monetary Fund announced Monday it has sold two tonnes of gold to the central bank of the Indian Ocean …

Sri Lanka state revenues up in September, but may miss revised targets

Nov 16, 2009 (LBO) - Sri Lanka's state revenues rebounded to 522.0 billion rupees in September 2009 up 12. online pharmacy buy strattera with best prices today …

Sri Lanka lures central Indian investors

Nov 15, 2009 (LBO) - Firms from the central Indian state of Madhya Pradesh have showed interest in investing in Sri Lanka and called for direct flights between …

Sri Lanka’s African families fade away

SIRAMBIADIYA, November 15, 2009 (AFP) - In a village deep in west Sri Lanka, one of the island's few remaining communities of African descent breaks into song …

Gold to be ‘important anchor’ for Sri Lanka foreign reserves: CB Governor

Nov 14, 2009 (LBO) - Sri Lanka's central bank, which maintains a soft peg with the US dollar, said gold would be an 'important anchor' for its foreign …