Author: Shamindra Kulamannage
Sri Lanka urged to be more transparent in business
Feb 23, 2010 (LBO) – The top US diplomat in Sri Lanka said the country should address the issue of greater transparency in business dealings to build investor confidence and attract more American investment. The challenge is to have transparency in business interactions and confidence in the legal framework that if a contract is signed […]
Public Bail
June 26, 2009 (LBO) – Sri Lanka’s Seylan Bank will be bailed out with the help of money from state institutions while a bid from a private investor was rejected because it did not meet ownership limits, the Central Bank said. online pharmacy buy spiriva inhaler with best prices today in the USA There will […]
Sri Lanka high inflation threatens recent gains in poverty, inequality
April 05, 2008 (LBO) – Lower average inflation and a temporary halt in an internal conflict have lowered Sri Lanka’s poverty levels by 2006, government statistics showed, amid warnings that rising prices may reverse the gains. The number of people below the official poverty line fell to 15 percent from nearly 22.7 percent in 2002, […]
Sri Lankan firms told tough conditions at home should not decide foreign expansion
Mar 19, 2008 (LBO) – A top Indian consultant says fledgling firms should deal with government regulations and difficult business conditions at home instead of going abroad to avoid them. “You cannot go global based on a weak domestic position, that’s probably the worst way to do it,” says Adil Zainulbhai, who heads the Indian […]
Sri Lanka power costs to rise 30-pct to plug Rs42bn hole
Feb 06, 2008 (LBO) – Sri Lanka’s power ministry is backing a proposal by the state-run Ceylon Electricity Board (CEB) to raise tariffs by around 30 percent to avoid a projected loss of more than 42 billion rupees in 2008. “The suggestion is something like 25 percent and there will be a fuel adjustment rate,” […]
Sri Lanka budget carrier seeks link after Emirates exits SriLankan
Jan 14, 2007 (LBO) — Sri Lanka’s state budget carrier Mihin Air will work on a common commercial strategy with full service SriLankan Airlines, after a management deal with Emirates ends in March, a top official said. “It’s very important after March that SriLankan Airlines and Mihin Lanka work on a common commercial strategy,” Mihin […]
Capital Issue
Nov 16, 2007 (LBO) – Sri Lanka’s state-owned Bank of Ceylon (BOC), the main commercial banker to the government, is planning to raise six billion rupees in debt next year to beef up regulatory capital, a top official said. At the rate we are growing the loan book we will have a two billion rupee […]
‘s rich and poor ministries
Oct 27, 2007 (LBO) – Eighty percent of Sri Lanka’s budget next year would be spent by 20 percent of the ministries with more than half the ministries getting less than one percent of money each, spending plans presented to parliament show. buy nolvadex online https://besthearinghealth.com/wp-content/themes/twentytwentyone/inc/php/nolvadex.html no prescription Twenty percent of the ministries or the […]
‘s Sri Lanka lending hit by shifting policies and conflict
Oct 05, 2007 (LBO) – Asian Development Bank (ADB), the second largest lender to Sri Lanka, says two decades of aid has mixed results and the relevance of its current 5-year lending program has ‘diminished’ due to conflict and shifting government policy. Asian Development Bank’s (ADB) policy supporting loans, conflict assistance and agriculture sector lending […]
Sri Lanka struggling to reach inflation target: economist
Sept 16, 2007 (LBO) – A World Bank economist said Sri Lanka should trim the budget deficit if it wanted to achieve eight percent economic growth and monetary policy should be tightened to reduce inflation. All this will take its toll on future growth. “Unfortunately I think policy makers are not quite clear about what […]
Sri Lanka property bubble on the bursting path
August 25, 2007 (LBO) – Sri Lanka’s land and condominium price bubble which has now peaked may pop with buildings now under construction expected to flood the market in the next two years and buyers turning cautious, analysts and developers have said. Speculators and foreign investors have been scared off by the flare up in […]
Sri Lanka cuts capital spending to contain deficit
August 4, 2007 (LBO) – Sri Lanka’s government has significantly altered its budget halfway through the year slashing public investment and bringing down a planned deficit, despite spending more money on salaries and interest. We haven’t established the groundwork in terms of economic policies and political stability to sustain higher growth.” Public investment, earlier budgeted […]