Economy

Sri Lanka advised to boost reserves as IMF quits the country

February 02 (LBO) –Sri Lanka should have a higher target for foreign exchange reserves in 2007 the World Bank said, days before its Bretton Woods twin, …

Inflation in Sri Lanka hits a new record of 20.5% in January

January 31 (LBO) – Consumer inflation in Sri Lanka's capital Colombo soared to a new record of 20.5 percent in the year to January, beating the 19.8 …

India raises policy rate to 7.5% to keep inflation below 5.5%

MUMBAI, Jan 31, 2007 (AFP) - The Reserve Bank of India on Wednesday raised its key short-term borrowing rate by a quarter percentage point to 7.50 percent …

Sri Lanka chases money without conditions

GALLE, Jan 30, 2007 (AFP) - Sri Lanka will lose millions of dollars unless it moves to end its bitter conflict with the Tamil rebels, diplomats and officials …

Sri Lanka’s top donors call for peace and better policies to spread prosperity wider

January 30, (LBO) – Sri Lanka's top donors expressed concern at the internal conflict that shackled aid delivery and called for changes to the country's …

Top donors draw focus from cash to conflict and governance, at Sri Lanka aid parley

January 29 (LBO) – Sri Lanka's top donors steered the focus of an annual aid review from cash to solving the internal conflict, giving relief to affected …

Donors call for peace to restore investor confindence

GALLE, Sri Lanka, Jan 29, 2007 (AFP) - Sri Lanka must commit to peace and restore investor confidence if it is to develop its potential, a senior World Bank …

Concern over government spending in Sri Lanka

GALLE, Sri Lanka, Jan 28, 2007 (AFP) - Sri Lanka's key international donors will meet in the southern city of Galle on Monday, amid rising concerns that the …

IMF closing office a sign that Sri Lanka can manage on its own: treasury chief

January 24, 2007 (LBO) – Sri Lanka's treasury chief said Wednesday that the International Monetary Fund's decision to close offices in the island was a …

Sri Lanka rubber prices up; considerable profits despite recent wage hike

Jan 22, 2007 (LBO) – Plantation companies are likely to post sizeable profits this year, though a recent wage hike will eat into earnings, analysts say. …

Sri Lanka bids to recover swindled millions

Jan 18, 2007 (AFP) - Sri Lanka plans to sue heads of state agencies where crooked deals and kick-backs are believed to have cost the government over a billion …

Graft costs Sri Lanka a billion dollars a year: whistle-blower

Jan 16, 2007 (AFP) - Kick-backs and crooked deals cost Sri Lanka over a billion dollars last year amounting to about a fifth of tax revenue, the country's top …

Central Bank forms expert panel to shape economy’s monetary policy

January 16, 2007 (LBO) – Sri Lanka's Central Bank has handpicked few private sector professionals to lend a hand to shape the island's monetary policy, …

Sri Lanka counts on US$1.5 bn aid from foreign donors this year

January 12, 2007 (LBO) – Sri Lanka hopes to secure over a billion dollars in aid pledges when foreign donors meet later this month to discuss the …

Sri Lanka exports recover in November

January 10, 2006 (LBO) - Sri Lanka earned more from exports in November pushing cumulative export growth for the year to 8 percent from 6. online pharmacy buy …

Sri Lanka gets French aid for satellite mapping of tsunami hit areas

Jan 10, 2007 (LBO) - Sri Lanka’s Urban Development Authority has sought nearly 85 million dollars in French aid for a town planning system in tsunami hit …

Central Bank of Sri Lanka to limit money printing in 2007: calls for fiscal prudence to stabilize economy

January 04, (LBO) – Sri Lanka's Central Bank has set itself tight targets to limit money printing, contain runaway inflation and stabilize the economy in …

Sri Lanka to withdraw ‘exchange control’ measure in March

January 03, 2007 (LBO) – Sri Lanka will withdraw from March 31, a controversial cash deposit requirement aimed at limiting imports, which drew censure …

Sri Lanka notches up US$ 600 mn foreign investment in 2006

January 01, 2007 (LBO) – Sri Lanka has notched up a record 600 million dollars in foreign direct investment last year, government said Monday, led by …

Sri Lanka consumer prices rise by 2.3% in December keeping 12-month inflation at 19.3%

December 29, 2006 (LBO) – Consumer prices in Sri Lanka rose by 2.3 percent in December, keeping 12-month inflation at 19.3 percent, the Census & …