Sri Lanka’s politicians play petroleum politics
Dec 05, 2008 (LBO) - Despite printing money to subsidize oil and driving inflation sky high, speculating in oil derivatives to keep prices down and getting the …
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Sri Lanka central bank defends itself from hedging fire
Nov 05, 2008 (LBO) – Sri Lanka's central bank, under fire for advising a state-run petroleum firm to hedge oil imports using derivatives in the belief …
Oil Tumble
NEW YORK, December 4, 2008 (AFP) - Oil prices tumbled to their weakest levels in nearly four years Thursday as investors fixated on mounting signs of recession …
Petrol Pricing
Dec 05, 2008 (LBO) - The government said it will reduce fuel retail prices from midnight Friday in line with falling global oil prices and ahead of a court …
IMF suggests Latvia should break soft-peg with euro: finance minister
RIGA, December 4, 2008 (AFP) - The IMF has suggested that Latvia drop the peg linking its national currency with the euro to help solve the country's deepening …
Sri Lanka headline index falls below core inflation
Dec 04, 2008 (LBO) - Sri Lanka's controversial 'core' inflation index, which the Central Bank says it uses for monetary policy decisions, was at 18. online …
Black Market
Nov 03, 2008 (LBO) – Sri Lanka's state is operating a black market taking an estimated 54 billion rupees a year in profits and discriminatory taxes from …
Sri Lanka opposition to take cabinet, central bank to task over oil hedge
Dec 02, 2008 (LBO) - Sri Lanka' main opposition United National Party says the cabinet of ministers and the central bank is also responsible for a hedging deal …
US in recession since December 2007: official panel
WASHINGTON, December 2, 2008 (AFP) - A US recession began in December 2007, a panel of economists charged with the official designation of business cycles said …
Sri Lanka monsoon floods affect 370,000: UN
GENEVA, December 2, 2008 (AFP) - Monsoon floods in the north of Sri Lanka have affected more than 370,000 people, with 71,000 being displaced, the United …
Still There
Nov 30, 2008 (LBO) – Sri Lanka's petroleum ministry has not yet been taken over by President Mahinda Rajapaksa, following a court ruling by the Supreme …
Sri Lanka EPF under fire at 50 years, calls for independent management
Nov 30, 2008 (LBO) - Calls for independent management for Sri Lanka's state-managed Employees Provident Fund are gaining more support, with less than half of …
Sri Lanka should stop intervention before it is too late: economist
Nov 29, 2008 (LBO) – Sri Lanka should stop a self-destructive sterilized intervention cycle of the national currency and move to stabilize the economy, …
Oil Bets
Nov 28, 2008 (LBO) - Sri Lanka's supreme court has ordered the state-owned oil refiner, Ceylon Petroleum Corporation (CPC), to suspend controversial hedge …
Floods drive 231,000 from their homes in Sri Lanka
November 27, 2008 (AFP) - At least two government soldiers drowned and more than 230,000 civilians were driven from their homes in Sri Lanka's embattled north …
Sri Lanka November inflation falls to 16.3-pct
Nov 28, 2008 (LBO) – Consumer inflation in Sri Lanka's capital Colombo fell to 16.3 percent in November from 20.2 percent in October, while prices fell …
Tricky Position
Nov 28, 2008 (LBO) - Sri Lanka's supreme court said petroleum minister A H M Fowzie should be removed, in a case where controversial oil hedges by a state-run …
Sri Lanka should be prepared for a prolonged external slowdown: interview
Nov 27, 2008 (LBO) – Sri Lanka should be prepared for a prolonged external slowdown as the world recovers from excessive debt brought on by paper money …
Hedge Probe
Nov 27, 2008 (LBO) – A team of Sri Lankan ministers is probing an oil hedge that could lose hundreds of millions of dollars to a state-run oil retailer …
Sri Lanka clamps down on last minute spending
Nov 26, 2008 (LBO) - Sri Lanka has clamped down on new spending, with the Treasury asking government departments to freeze new capital projects and current …