Economy

Sri Lanka inflation at 14.4-pct in December

Dec 31, 2008 (LBO ) - Consumer price inflation in Sri Lanka's capital Colombo fell to 14. buy elavil online …

Sri Lanka gives incentives to tea, rubber sectors

Dec 30, 2008 (LBO) – Sri Lanka's government has moved to protect and revive the tea and rubber industries with a host of incentives announced in a …

Sri Lanka announces ‘stimulus package’ to maintain growth

Dec 30, 2008 (LBO) – Sri Lanka has announced a 'stimulus package' valued at 16 billion rupees to maintain growth at an optimistic 6.0 to 6.5 percent in …

State workers to take less pay to save country

SAIPAN, December 29, 2008 (AFP) - The Northern Mariana Islands, faced with an escalating economic crisis, needs a four-day working week to cut costs, Governor …

Sri Lanka government statisticians defend numbers

Dec 29, 2008 (LBO) – Sri Lanka's statistics office has defended their numbers from a growing tide of skepticism amid further revelations about the …

Gloomy year-end picture for global economy

WASHINGTON, December 27, 2008 (AFP) - Christmas retail sales plunged in the United States, a poll showed Friday, as Japan reported record cuts in production …

Sri Lanka tsunami recovery hampered by lack of accountability: IDA

Dec 26, 2008 (LBO) - Sri Lanka's tsunami recovery efforts were hampered by lack of effective institutions, the International Development Association (IDA), …

Sri Lanka southern businesses get IFC help

Dec 24, 2008 (LBO) - The International Finance Corporation (IFC), a member of the World Bank group, said it is helping streamline business licensing in Sri …

Sri Lanka spends a billion dollars on interventions

Dec 23, 2008 (LBO) - Sri Lanka has spent 266 million US dollars intervening in foreign exchange markets in November, taking the total over the past three …

Sri Lanka looking for alternative foreign financing: Central Bank

De 19, 2008 (LBO) - Sri Lanka is looking for alternative sources of foreign funding, the central bank said, as global financial markets remained in turmoil and …

Sri Lanka inflation falling faster than expected: Central Bank

Dec 19, 2008 (LBO) – Sri Lanka's inflation is falling faster than expected, the Central Bank said, as a global collapse in commodities washed into the …

Developed countries urged not to curb migrant workers

Dec 18, 2008 (LBO) – Developed countries should not shut out migrant workers at times of economic crisis as they still face labour shortages and workers …

Sri Lanka growth expected to slow in last quarter

Dec 17, 2008 (LBO) – Sri Lanka's economic expansion is likely to slow in the last quarter as an external slowdown hits demand for its products, resulting …

Fed cut rates to near zero; desperate efforts to bring inflation back

WASHINGTON, December 17, 2008 (AFP) - The Federal Reserve used up its ammunition on monetary policy Tuesday by slashing its base lending rate to virtually zero …

Sri Lanka economy expands 6.3 pct in third quarter: statistics office

Dec 16, 2008 (LBO) – Sri Lanka's economy expanded 6.3 percent in the third quarter of 2008 over the same quarter the previous year, and against 7.0 in …

Sri Lanka rupee pressured as IMF praises Hong Kong currency board

Dec 15, 2008 (LBO) – The International Monetary Fund has praised the robust 'hard peg' (currency board) of Hong Kong with the US dollar even as Sri Lanka …

Sri Lanka sovereign rating downgraded by S&P to B

Dec 15, 2008 (LBO) – Rating agency Standard & Poor's (S&P) said it has downgraded Sri Lanka’s long term foreign currency sovereign credit rating to …

Sri Lanka central bank disputes S&P credit downgrade

Dec 15, 2008 (LBO) – Sri Lanka's central bank has disputed a sovereign credit downgrade by Standard & Poors to 'B' from 'B+' saying it done without …

Sri Lanka prints money to buy tea in Zimbabwe-style move

Dec 14, 2008 (LBO) - State-run Sri Lanka Tea Board has spent over 200 million rupees to buy tea, using printed money from the Central Bank, in a Zimbabwe-style …

Sri Lanka researchers told of dangers of romanticism

Dec 12, 2008 (LBO) – Researchers in Sri Lanka and elsewhere should not be guided by romanticism but approach an issue with an open mind and be prepared …