Economy & Markets

Sri Lankan authorities try to counter money printing culpability

April 20, 2007 (LBO) – Authorities in Sri Lanka are trying to counter growing public awareness that 38.5 billion rupees were printed to finance the …

Sri Lanka rupee falls to a new low; overnight rates ease

April 19, 2007 (LBO) – The Sri Lanka rupee fell to a new low of 110.50 to the dollar in early trading Thursday dealers said, while short-term interest …

New Sri Lanka investment chief assures faster approvals, encourages local investors

April 18, 2007 (LBO) – Sri Lanka’s new investment promotion chief said Wednesday he wants to speed up approvals but also be more selective in …

Sri Lanka spends 54% percent of tax revenue on government jobs; unemployment down to 6.5%

April 17, 2007 (LBO) – Sri Lanka has spent 54 cents out of every tax rupee collected last year on government jobs and pensions, while plans are afoot to hire …

Sri Lanka treasury yields rocket as central bank continues tight stance

April 17, 2007 (LBO) - Sri Lanka's 3-month treasury yield shot up at an auction by more than 43 basis points to 15. buy priligy online buy priligy generic 44 …

Conflicts doubled global displacement in 2006, report says

GENEVA, April 16, 2007 (AFP) - The number of people displaced within their own countries by conflicts doubled last year, pushing the global total to 24.5 …

Sri Lanka state firm bank debt has doubled in a year: Central Bank

April 15, 2007 (LBO) – Sri Lanka's state corporation debt to the banking system has doubled in 2006, with energy firms accounting for most of it, the …

Sri Lanka’s February trade deficit narrows despite higher petroleum imports

April 11, 2007 (LBO) – Sri Lanka's trade deficit narrowed to 144.5 million dollars in February despite oil import costs moving up, the central bank said …

Sri Lanka call rates hit 50% amidst festival drawdown

March 11, 2007 (LBO) - Sri Lanka's inter-bank call rates hit 50 percent Wednesday even as the monetary authority pumped billion of rupees into the banking …

Sri Lanka’s port reaches 3-year wage deal with unions

April 10, 2007 (LBO) - Sri Lanka's main port has struck a 3-year agreement with trade unions to raise the minimum monthly salary by 3,000 rupees, a senior …

Sri Lanka rupee slides sharply against the dollar; one year t-bill yields plummet

April 10, 2007 (LBO) - The spot dollar shot up Tuesday to 109. buy albenza online …

Sri Lanka’s central bank says liquidity limits are working

April 10, 2007 (LBO) – Sri Lanka's tight quantity targeting regime is paying off, and the central bank said Monday it would continue with the 'current …

Sri Lanka money supply, rates up on festive cash demand

April 09, 2007 (LBO) - Heavy cash withdrawals from banks to fund spending in the new year festive season drove up call money rates Monday with reserve money …

Have no fear, Sri Lanka’s top taxman tells tax payers

April 07, 2007 (LBO) – Tax payers need not fear the Inland Revenue Department, according to Sri Lanka’s chief tax officer who faces the daunting …

Sri Lanka asked to get house in order ahead of opening up services

April 06 (LBO) – Sri Lanka is hoping to open its service sectors to neighboring India, but analysts say the country should first get local regulations in …

Fuel prices will not affect essential food prices during the season: Minister

April 06, 2007 (LBO) – The prices of essential food items that have been set a retail price during the New Year season will not be affected if fuel …

Sri Lanka civil servants to get new cars at low prices

April 6, 2007 (AFP) - Sri Lanka is offering drastic customs duty cuts to help over 20,000 civil servants import new cars, the finance ministry said Friday. …

Fernando sees Sri Lanka to thrilling win over England

ST JOHN'S, Antigua, April 4, 2007 (AFP) - Dilhara Fernando took a wicket with the last ball of the match to seal a dramatic two-run win for Sri Lanka against …

Central Bank of Sri Lanka makes record profits from money printing, inflation and debauching its currency

April 05, 2007 (LBO) – Sri Lanka's central bank posted a massive 27 billion rupee profit in 2006 as the economy inflated and the currency depreciated due …

Looming risk in Sri Lanka’s rising foreign commercial loans

April 4, 2007 (LBO) – Increased reliance on foreign currency loans by Sri Lanka’s government and private sector could spell danger ahead if they …