Author: LBO
Sheep’s Clothing
The United Nations whacked the European Union’s trade rules as ‘protectionist’, with tough eligibility requirements effectively shutting out poor countries.The United Nations whacked the European Union’s trade rules as ‘protectionist’, with tough eligibility requirements effectively shutting out poor countries. The EU has come most under attack for its tough Rules of Origin criteria, which specifies […]
Sri Lanka’s president raps donors for slow progress in post tsunami work
In a serious indictment on the international community, Sri Lankan President Chandrika Kumaratunga has rapped donors for not repatriating funds and delaying post-tsunami reconstruction work, her office said in a statement on Saturday.In a serious indictment on the international community, Sri Lankan President Chandrika Kumaratunga has rapped donors for not repatriating funds and delaying post-tsunami […]
Tourist prefer to shop than soak up the sun ‘n surf
Tsunami hit Sri Lanka has seen a shift in its tourism mix, with more visitors popping in to shop and see the city lights than soak up the sun or hit the cultural beat, officials said Friday.Tsunami hit Sri Lanka has seen a shift in its tourism mix, with more visitors popping in to shop […]
It’s Through
ICICI Bank, India’s second-largest bank by assets, has received a provisional banking license from the Central Bank of Sri Lanka to commence operations in the island, an ICICI Bank official said Wednesday.ICICI Bank, India’s second-largest bank by assets, has received a provisional banking license from the Central Bank of Sri Lanka to commence operations in […]
People’s Leasing raises funds to feed its hire purchase business
People’s Leasing Company has raised Rs.400 million by securitising part of its small but growing hire purchase portfolio, the firm said Monday.People’s Leasing Company has raised Rs. 400 million by securitising part of its small but growing hire purchase portfolio, the firm said Monday. Hire purchasing accounts for Rs 3 billion of the firm’s business […]
Sri Lanka’s Central Bank gets jittery over IMF’s hard hitting report
Sri Lanka’s Central Bank, which has come under fire for lax monetary policy, printing money to finance the budget deficit and boosting inflation, took the somewhat unusual step of publicly responding to the International Monetary Fund’s hard hitting staff report on the country’s recent weak macro-economic management. Sri Lanka’s Central Bank, which has come under […]
Sri Lanka’s Tamil rebels call for immediate truce talks
The political leader of the Tamil Tiger rebels has called for immediate talks with Sri Lanka’s government to save a shaky ceasefire.The political leader of the Tamil Tiger rebels has called for immediate talks with Sri Lanka’s government to save a shaky ceasefire. Tamil Tiger political chief S.P. Thamilselvan said the rebel group was ready […]
President Chandrika Kumaratunga’s address to the Asia Society in New York
“Peace requires consensus and joint action by the major political parties” President at NY’s Asia Society “Peace requires consensus and joint action by the major political parties” President at NY’s Asia Society Full text of the President’s address; It is a pleasure to be here at the Asia Society once again. Over the past eleven […]
Commercial Bank’s upcoming debenture gets AA (sri) rating
Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday.Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday. The bank initially plans to raise Rs.1.0 billion with an option to […]
Norway’s new government offers to maintain Sri Lanka peace bid
Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP.Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP. “After the new government is formed […]
Sri Lanka’s Central Bank raises policy rates
Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign in galloping inflation Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign […]
Sri Lanka’s Commercial Bank to raise Rs. 1.5 bn in debt
Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term credit expansion, officials said Tuesday. Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term […]