Category: Economy and Markets

Sri Lanka’s money markets opened for trading on Monday and Central Bank is standing by to provide liquidity needs of money and foreign exchange markets, officials said.Sri Lanka’s money markets opened for trading on Monday and Central Bank is standing by to provide liquidity needs of money and foreign exchange markets, officials said. But the […]

Sri Lanka has so far reported the highest loss of life from the tsunami that swept nations bordering the Indian Ocean on Sunday. LBO Cameras captured some scenes in the aftermath of the tidal wave that has so far killed over 4500. Sri Lanka has so far reported the highest loss of life from the […]

A team of six UN experts in humanitarian aid delivery is due in Sri Lanka today to assess the current situation and help the government draw up an international appeal for help. A team of six UN experts in humanitarian aid delivery is due in Sri Lanka today to assess the current situation and help […]

Panic that spread through Galle that tidal waves are re-emerging is easing slightly but police have turned away residents who attempted to return to the town. Eyewitnesses say police in Galle town are trying to clear up putrefying corpses as soon as possible.Already the stench of rotting bodies is in the air. Rotting bodies of […]

The official death toll from the tidal wave in Sri Lanka is now estimated to be 4,590 at mid-day Monday, but missing persons are put at twice that.The official death toll from the tidal wave in Sri Lanka is now estimated to be 4,590 at mid-day Monday, but missing persons are put at twice that. […]

With authorities still focused on disaster relief, the economic costs of the tidal wave in Sri Lanka is yet to be measured in a meaningful way, but tourism and fisheries are the hardest hit.With authorities still focused on disaster relief, the economic costs of the tidal wave in Sri Lanka is yet to be measured […]

Local authorities have started mass burials of tsunami victims in Southern Sri Lanka which are piling up unclaimed in hospital in coastal areas as the death toll continues to mount.Local authorities have started mass burials of tsunami victims in Southern Sri Lanka which are piling up unclaimed in hospital in coastal areas as the death […]

Sri Lanka’s opposition United National Party has pledged support to the government and expressed confidence that the country can emerge from the disaster by remaining resolute and moving forward with the support of the international community.Sri Lanka’s opposition United National Party has pledged support to the government and expressed confidence that the country can emerge […]

Sri Lanka’s Central Bank has put together a top level team to assess the economic impact following a tidal wave that left over 14,000 dead and displaced millions of people.Sri Lanka’s Central Bank has put together a top level team to assess the economic impact following a tidal wave that left over 14,000 dead and […]

The government says it will give Rs10,000 for the burial of every local person killed by the tidal wave on Sunday.The government says it will give Rs10,000 for the burial of every local person killed by the tidal wave on Sunday. “We are giving Rs 10,000 for each body so that they can be buried […]

The tidal wave that hit Sri Lanka Sunday has ravaged the economies of several coastal provinces though the overall impact on the economy may be mitigated as the Western Province, which accounts for half the nation’s GDP has been spared. District

Indian news wire reports that five naval warships loaded with relief supplies have left for Sri Lanka as Indian Air Force despatched three AN-32 transport aircrafts carrying relief and medical supplies to earthquake and tidal wave devastated Andaman and Nicobar islands. Indian news wire reports that five naval warships loaded with relief supplies have left […]