Economy

Sri Lanka government wins 2009 budget vote

Dec 08, 2008 (LBO) - Sri Lanka's government Friday won a crucial vote in parliament on its budget for 2009 with a majority of 42 votes, a parliamentary …

IMF suggests Latvia should break soft-peg with euro: finance minister

RIGA, December 4, 2008 (AFP) - The IMF has suggested that Latvia drop the peg linking its national currency with the euro to help solve the country's deepening …

Sri Lanka’s politicians play petroleum politics

Dec 05, 2008 (LBO) - Despite printing money to subsidize oil and driving inflation sky high, speculating in oil derivatives to keep prices down and getting the …

Sri Lanka central bank defends itself from hedging fire

Nov 05, 2008 (LBO) – Sri Lanka's central bank, under fire for advising a state-run petroleum firm to hedge oil imports using derivatives in the belief …

Sri Lanka headline index falls below core inflation

Dec 04, 2008 (LBO) - Sri Lanka's controversial 'core' inflation index, which the Central Bank says it uses for monetary policy decisions, was at 18. online …

US in recession since December 2007: official panel

WASHINGTON, December 2, 2008 (AFP) - A US recession began in December 2007, a panel of economists charged with the official designation of business cycles said …

Sri Lanka monsoon floods affect 370,000: UN

GENEVA, December 2, 2008 (AFP) - Monsoon floods in the north of Sri Lanka have affected more than 370,000 people, with 71,000 being displaced, the United …

Sri Lanka EPF under fire at 50 years, calls for independent management

Nov 30, 2008 (LBO) - Calls for independent management for Sri Lanka's state-managed Employees Provident Fund are gaining more support, with less than half of …

Sri Lanka should stop intervention before it is too late: economist

Nov 29, 2008 (LBO) – Sri Lanka should stop a self-destructive sterilized intervention cycle of the national currency and move to stabilize the economy, …

Floods drive 231,000 from their homes in Sri Lanka

November 27, 2008 (AFP) - At least two government soldiers drowned and more than 230,000 civilians were driven from their homes in Sri Lanka's embattled north …

Sri Lanka November inflation falls to 16.3-pct

Nov 28, 2008 (LBO) – Consumer inflation in Sri Lanka's capital Colombo fell to 16.3 percent in November from 20.2 percent in October, while prices fell …

Sri Lanka should be prepared for a prolonged external slowdown: interview

Nov 27, 2008 (LBO) – Sri Lanka should be prepared for a prolonged external slowdown as the world recovers from excessive debt brought on by paper money …

Sri Lanka clamps down on last minute spending

Nov 26, 2008 (LBO) - Sri Lanka has clamped down on new spending, with the Treasury asking government departments to freeze new capital projects and current …

Sri Lanka cuts reserve ratio to 7.75-pct

Nov 25, 2008 (LBO) – Sri Lanka has cut its statutory reserve ratio for commercial banks from 9.25 percent to 7.75 percent, releasing 17 billion rupees in …

Gulf shares slump despite government moves

KUWAIT CITY, November 23, 2008 (AFP) - Most stock markets in the energy-rich Gulf slumped on the week's opener Sunday as intervention by governments failed to …

China, India rising, but face bumpy ride: intelligence forecast

WASHINGTON, November 22, 2008 (AFP) - A new US intelligence forecast identifies China and India as rising heavyweights in a coming multi-polar world but says …

Obama readies economic team with New York Fed boss tipped for Treasury secy

WASHINGTON, November 22, 2008 (AFP) - The economic team of US president-elect Barack Obama came into view Friday as fears mounted on the global financial …

Sri Lanka capital projects may be delayed but disinflation faster amid global turmoil: interview

Nov 20, 2008 (LBO) - Sri Lanka has plans to borrow abroad next year at commercial rates to repay maturing loans and keep its infrastructure projects on track. …

US consumer prices plunge record 1.0 pct in October

WASHINGTON, November 19, 2008 (AFP) - US consumer prices plunged a record 1. online pharmacy buy spiriva inhaler with best prices today in the USA online …

Sri Lanka has a chance to attract shifting industries: economist

Nov 20, 2008 (LBO) – Sri Lanka has a chance to attract industries from advanced nations in the wake of current turmoil if the country can put its house …