Category: Economy

UN trade agency (UNCTAD) says ready-made development programmes, designed by foreign agencies, are not working.UN trade agency (UNCTAD) says ready-made development programmes, designed by foreign agencies, are not working. UNCTAD says developing countries must design their own development programmes to suit individual needs and cautions developing countries against running a race to the bottom trying […]

Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts.Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts. Dr P. B. Jayasundera says higher tourism earnings and a better performance from agriculture will help the economy post high […]

The EU sets aside € 490,000 ( around Rs 60 million) to support human rights and conflict resolution initiatives in Sri Lanka by Non Governmental Organisations (NGO).The EU sets aside € 490,000 ( around Rs 60 million) to support human rights and conflict resolution initiatives in Sri Lanka by Non Governmental Organisations (NGO). Sri Lankan […]

Tamil Tiger rebels Thursday asked peace broker Norway to help end the deadlock in Sri Lanka’s peace process amid a renewed outbreak of internecine clashes.Tamil Tiger rebels Thursday asked peace broker Norway to help end the deadlock in Sri Lanka’s peace process amid a renewed outbreak of internecine clashes. Norway’s special peace envoy Trond Furuhovde […]

Rich countries have been doling out more development aid to poor countries, but most of that is being used to pay off debt and rebuild after natural disasters, a United Nations report shows. Rich countries have been doling out more development aid to poor countries, but most of that is being used to pay off […]

Tsunami-hit Sri Lanka is still banking on international aid despite donor attention shifting to Pakistan following the devastating earthquake there, the government’s aid arm said Tuesday.Tsunami-hit Sri Lanka is still banking on international aid despite donor attention shifting to Pakistan following the devastating earthquake there, the government’s aid arm said Tuesday. A wave of foreign […]

Norway gives Rs 180 million ( around US$ 1.8 mn) to the International Labour Organization (ILO) to “speed up” tsunami rehabilitation in Sri Lanka.Norway gives Rs 180 million ( around US$ 1.8 mn) to the International Labour Organization (ILO) to “speed up” tsunami rehabilitation in Sri Lanka. “We see the necessity to speed up the […]

Sri Lanka is planning to tap international capital markets aggressively after getting a sovereign rating to support its economic recovery next year, and bypass pesky donors who demand fiscal discipline and low inflation to give cheap long-term dollars. Sri Lanka is planning to tap international capital markets aggressively after getting a sovereign rating to support […]

ANURADHAPURA, Oct 9 – Sri Lanka’s two main candidates for the presidency launched their election campaigns at the weekend promising peace at last for the shattered island and lower consumer prices. ANURADHAPURA, Oct 9 – Sri Lanka’s two main candidates for the presidency launched their election campaigns at the weekend promising peace at last for […]

Sri Lanka’s opposition leader launched his presidential election bid from this historic city Saturday urging unity among the deeply divided majority community ahead of a peace deal with Tamil rebels.Sri Lanka’s opposition leader launched his presidential election bid from this historic city Saturday urging unity among the deeply divided majority community ahead of a peace […]

Sri Lanka’s foreign donors are falling over themselves to channel aid to similar projects, but a lots needs to be done to co-ordinate and channel assistance to large projects, the island’s treasury secretary said Friday.Sri Lanka’s foreign donors are falling over themselves to channel aid to similar projects, but a lots needs to be done […]

Peace broker Norway ruled out early direct talks between Tamil Tigers and Sri Lanka to save their truce although the rebels said they were ready for discussions before next month’s presidential vote. Peace broker Norway ruled out early direct talks between Tamil Tigers and Sri Lanka to save their truce although the rebels said they […]