Author: LBO
Colombo’s commercial hub closes shop early on election day
Colombo’s commercial hub closed shop by noon on Thursday along with most other businesses across the island as the country went to polls to elect Sri Lanka’s fifth president.Colombo’s commercial hub closed shop by noon on Thursday along with most other businesses across the island as the country went to polls to elect Sri Lanka’s […]
Sri Lanka’s former PM struggles to claim presidential prize
The frontrunner in Sri Lanka’s presidential vote, Ranil Wickremesinghe, claims credit for freezing a decades-long ethnic war but that has not translated into deep support among the Sinhalese majority crucial to victory.The frontrunner in Sri Lanka’s presidential vote, Ranil Wickremesinghe, claims credit for freezing a decades-long ethnic war but that has not translated into deep […]
Sri Lanka’s Mr. Pain Killer encourages toddy tapping
Sri Lanka’s Mr. Pain Killer and Presidential Candidate Victor Hettigoda says he would have encouraged toddy-tapping apart from giving every home a milch cow if he presented the 2006 annual budget.Sri Lanka’s Mr. Pain Killer and Presidential Candidate Victor Hettigoda says he would have encouraged toddy-tapping apart from giving every home a milch cow if […]
Hefty oil bill widens Sri Lanka’s trade gap for Sept.
Sri Lanka’s trade deficit for the first nine months expanded further, as a hefty oil import bill continued to take its toll on the country’s meager earnings, the Central Bank said Wednesday. Sri Lanka’s trade deficit for the first nine months expanded further, as a hefty oil import bill continued to take its toll on […]
Sri Lanka’s Central Bank leaves it policy rates intact
Sri Lanka’s Central Bank opted not to tinker with its policy rates ahead of a crucial Presidential poll on Thursday. Sri Lanka’s Central Bank opted not to tinker with its policy rates ahead of a crucial Presidential poll on Thursday. The repurchase rate, which drains money from the banking system, stands at 8.50 percent and […]
Sri Lanka’s borrowing costs go up, speculation of a possible rate hike ahead of polls
Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the Central Bank may hike its benchmark interest rates on Wednesday.Sri Lanka’s borrowing costs went up by about 10-15 basis points at this week’s treasury bill auction, leaving room for speculation that the […]
Sri Lanka’s daughter of destiny departs, reluctantly
Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the country at a crossroads.Sri Lanka’s President Chandrika Kumaratunga, who steps down as president next week after serving her maximum two terms, leaves her parents’ party in turmoil and the […]
Sri Lanka’s peace chief quits amid deadlock in talks
Sri Lanka’s top official handling the peace process with Tamil Tiger rebels resigned Wednesday ahead of presidential elections this month, a government official said.Sri Lanka’s top official handling the peace process with Tamil Tiger rebels resigned Wednesday ahead of presidential elections this month, a government official said. President Chandrika Kumaratunga accepted the resignation of Jayantha […]
Wobbly start for Sri Lanka’s 2006 budget presentation
Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]
Sri Lanka’s private sector cold shoulders next week’s budget
Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]
Sri Lanka’s Oct. annaulised inflation slips
Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Authorities […]
Sri Lanka’s Pan Asia Bank falls short
Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. As at June 2005, PABC’s […]