Stand Off
Dec 19, 2008 (LBO) – Sri Lanka's cabinet of ministers had not revised oil prices after meeting for a second time, with a court decision to cut prices …
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Developed countries urged not to curb migrant workers
Dec 18, 2008 (LBO) – Developed countries should not shut out migrant workers at times of economic crisis as they still face labour shortages and workers …
Sri Lanka growth expected to slow in last quarter
Dec 17, 2008 (LBO) – Sri Lanka's economic expansion is likely to slow in the last quarter as an external slowdown hits demand for its products, resulting …
Fed cut rates to near zero; desperate efforts to bring inflation back
WASHINGTON, December 17, 2008 (AFP) - The Federal Reserve used up its ammunition on monetary policy Tuesday by slashing its base lending rate to virtually zero …
Sri Lanka economy expands 6.3 pct in third quarter: statistics office
Dec 16, 2008 (LBO) – Sri Lanka's economy expanded 6.3 percent in the third quarter of 2008 over the same quarter the previous year, and against 7.0 in …
Oil Commission
Dec 16, 2008 (LBO) - Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) was instructed to consider a bigger commission to its dealers, by the island's …
Sri Lanka central bank disputes S&P credit downgrade
Dec 15, 2008 (LBO) – Sri Lanka's central bank has disputed a sovereign credit downgrade by Standard & Poors to 'B' from 'B+' saying it done without …
Court Formula
Dec 15, 2008 (LBO) – Sri Lanka's Supreme Court said the island's taxation of petroleum products was irrational and asked the Treasury not to tax petrol …
Sri Lanka rupee pressured as IMF praises Hong Kong currency board
Dec 15, 2008 (LBO) – The International Monetary Fund has praised the robust 'hard peg' (currency board) of Hong Kong with the US dollar even as Sri Lanka …
Sri Lanka sovereign rating downgraded by S&P to B
Dec 15, 2008 (LBO) – Rating agency Standard & Poor's (S&P) said it has downgraded Sri Lanka’s long term foreign currency sovereign credit rating to …
Sri Lanka diplomats decry encroachment
Dec 14, 2008 (LBO) – Sri Lanka's professional diplomats have slammed a practice by government politicians of appointing friends, relations and cronies to …
Sri Lanka prints money to buy tea in Zimbabwe-style move
Dec 14, 2008 (LBO) - State-run Sri Lanka Tea Board has spent over 200 million rupees to buy tea, using printed money from the Central Bank, in a Zimbabwe-style …
Sri Lanka researchers told of dangers of romanticism
Dec 12, 2008 (LBO) – Researchers in Sri Lanka and elsewhere should not be guided by romanticism but approach an issue with an open mind and be prepared …
Formula Politics
Dec 10, 2008 (LBO) – Sri Lanka's President Mahinda Rajapaksa rejected a price-formula for fuel amidst growing public displeasure at exorbitant pump …
Export Formula
Dec 09, 2008 (LBO) - Sri Lankan industrial exporters say the lack of a transparent price formula especially for diesel has increased their production cost …
Sri Lanka govt opposes no-confidence motion on derivative losses
Dec 08, 2008 (LBO) – Sri Lanka's ruling party has opposed an opposition attempt to move a no-confidence motion on an oil hedging deal saying it related …
Sri Lanka opposition moves no-confidence motion over derivative losses
Dec 08, 2008 (LBO) – Sri Lanka's main opposition has put forward a no-confidence motion against the government Monday on the eve of a budget vote, …
Sri Lanka minister gets opposition post: official
Dec 08, 2008 (LBO) – Sri Lanka's main opposition United National Party has appointed a rebel member who is a government minister as its deputy leader, …
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 …
Hedge Management
Dec 06, 2008 (LBO) - The Sri Lanka unit of the Indian Oil Corporation has unwound some oil derivatives it bought earlier in 2008, but is left with 70,000 …