Economy & Markets

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 …

Sri Lanka raises 23 million dollars from rupee bond sale

January 30 (LBO) - Sri Lanka goverment has raised 23 million dollars by selling rupee bonds to foreign investors, its public debt office said Tuesday. The …

Sri Lanka treasury bill yields leap forward as central bank baulks at printing money

January, 30 (LBO) - Government securities vaulted up at Tuesday's auction, with cut off rates for one year treasury bills touching 14. online pharmacy buy …

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 …

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 …

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 …

Sri Lanka money rates ease after hitting a 7-year high; volatility may worsen ahead

January 26, (LBO) - Overnight call rates eased to 14. online pharmacy buy ciprodex with best prices today in the USA buy vibramycin online …

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 hits road to raise US$ 200 mn from overseas investors this year: Central Bank

January 22, 2007 (LBO) - Top Central Bank officials will hit the road next month to drum up overseas investor support to raise 200 million dollars in …

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 amends law to attract foreingn investors to buy sovereign bonds

January 19, 2007 (LBO) - Sri Lanka plans to amend laws allowing foreigners to invest in government bonds, as they are too restrictive to overseas investors, …

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 …

Sri Lanka stays pat on key interest rates

January 18, 2007 (LBO) - Sri Lanka's central bank Thursday left its key policy rates at current levels, amidst soaring inflation, which is giving savers …

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 …