Economy & Markets

Sri Lankan stocks up in thin volume trade

Apr 15, 2009 (LBO) - Sri Lankan shares gained marginally on Wednesday in razor thin trade in selected blue chip shares with most investors still to return …

Economic crisis a gift to people traffickers: Australia

NUSA DUA, April 15, 2009 (AFP) - People traffickers are licking their lips as the world economic downturn pushes more people to migrate in search of work, …

Sri Lanka will be more attractive to investors after IMF bailout: CB official

Apr 14, 2009 (LBO) – Sri Lanka will become more attractive for investors once an International Monetary Fund stamp of approval comes with a bailout …

Pakistan president signs sharia law deal

ISLAMABAD, April 14, 2009 (AFP) - Pakistan's president signed an accord to put part of the country under Islamic law as part of efforts to end a Taliban …

Sri Lanka state enterprises to get tax write-off: report

Apr 13, 2009 (LBO) – Sri Lanka's pampered state-enterprises, often overstaffed, and usually distinguished with poor customer service, are to get …

Sri Lanka central bank urges lending rate cut

Apr 12, 2009 (LBO) – Sri Lanka's central bank is urging commercial banks to cut lending rates to stimulate growth while heavy government borrowing …

Sri Lankan inflation will hit zero: central banker

Apr 11, 2009 (LBO) – Sri Lanka's inflation will hit zero by the middle of the year, a senior central banker said, with 12-month price inflation in the …

Sri Lankan displaced children malnourished: govt

April 11, 2009 (AFP) - At least one in four children displaced by Sri Lanka's ongoing fighting between troops and Tamil Tigers was malnourished, the health …

Sri Lanka eyes diaspora funds to revive war zone

April 10, 2009 (LBO) - Sri Lanka has said it plans to entice the Tamil diaspora to invest in reviving the war-ravaged north and has set up a separate division …

Sri Lankan shares becalmed

Apr 08, 2009 (LBO) - Sri Lankan stocks closed flat Wednesday as early gains were eroded by late selling pressure on Sri Lanka Telecom (SLT) and Hatton National …

Sri Lanka raises turnover tax

April 08, 2009 (LBO) – Sri Lanka is tripling a newly introduced non-recoverable business turnover tax from May 01, 2009 as the country grapples with a …

Sri Lanka state finances busted, Rs118bn printed

April 08, 2009 (LBO) – Sri Lanka's government finances had been busted in 2008 with revenues 95 billion rupees below target, 118 billion rupees being …

Sri Lankan stocks close up

Apr 07, 2009 (LBO) - Sri Lankan shares closed up on Monday, driven by index-heavy Sri Lanka Telecom (SLT) which moved up on speculation of a possible sell-down …

Sri Lanka firms get no relief in tax refund delays

April 07, 2009 (LBO) - Sri Lanka's cash-strapped government has been unable to offer relief to the private sector over lengthy delays in getting value-added …

Sri Lanka has space for monetary easing: Central Bank

April 07, (LBO) - Sri Lanka has space for easing policy with inflation coming down, Central Bank governor Nivard Cabraal said, as the monetary authority …

Sri Lanka to lose aid from Netherlands: report

April 07, 2009 (LBO) - The Netherlands will stop giving aid to Sri Lanka due to an internal conflict, ending a longstanding partnership which had given 30 to …

Sri Lanka central bank urges curbs on state recruitment

April 07, 2009 (LBO) - Sri Lanka's central bank has urged the government to curb recruitment into the hugely over-staffed and inefficient state sector, given …

Sri Lanka offers tax break for forex income

Apr 06, 2009 (LBO) – Sri Lanka has given an amnesty for individuals and businesses that deposit foreign exchange in banks in the next two year years, as …

Sri Lanka urged to go slow on big projects

April 06, 2009 (LBO) - Sri Lanka should go slow on big projects because of funds shortages in order to be able to better cope with the economic slowdown this …

Sri Lanka small investors nibble at strong stocks

Apr 06, 2009 (LBO) - Sri Lankan shares edged up Monday supported by blue chip price increases in low volume trade, as small investors took tentative steps to …