Tag: Sri Lanka
Sri Lanka employers should have closer dialogue with workers: ILO
Mar 02, 2010 (LBO) – Businesses can ride out economic downturns easier by having stronger relations with their workers through collective bargaining; an approach used countries like in Germany, an International Labour Organization (ILO) official said. Curtis was speaking at the tripartite workshop on freedom of association in collective bargaining in Sri Lanka, Nepal, the […]
Sri Lanka overall budget deficit nears 10.3-pct of GDP in 2009
Mar 02, 2010 (LBO) – Sri Lanka’s budget deficit for 2009 has exceeded 10.2 percent of gross domestic product (GDP), with a planned 7.0 percent deficit derailed by weak revenues and sharply higher expenditure, a finance ministry report said. The pre-election fiscal report said the revenue deficit (the gap between total revenues and current expenditure) […]
‘s murder
March 2, 2010 (AFP) – Sri Lankan police are to question dozens of military intelligence officers in connection with the internationally condemned assassination of a senior editor, a spokesman said Tuesday. Investigations into the January 2009 slaying of Lasantha Wickrematunga, chief editor of the anti-establishment Sunday Leader, had led them to military personnel, said police […]
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March 01, 2010 (LBO) – Sri Lanka should not be given a “blank cheque” to revive its war-torn economy unless the political problem that generated the conflict is settled, an international non-governmental advocacy body has said. The ICG said donor governments and the UN should tie their aid to an end to impunity for human […]
Sri Lanka bank chief on lawmaker list
March 01, 2010 (LBO) – Sri Lanka’s NDB Bank said its chief executive Eran Wickremaratne is on the so-called ‘national list’ of the main opposition United National Front for elections in April. The bank said in a stock exchange filing that more disclosures would be made in the future. The ‘national list’ gives a chance […]
Protest outside British embassy in Sri Lanka
March 1, 2010 (AFP) – Hundreds of Sri Lankan ruling party activists demonstrated outside the British High Commission in Colombo on Monday, denouncing what they called London’s support for Tamil separatists abroad. The protestors handed in a petition protesting against British Foreign Secretary David Miliband’s attendance last week at a meeting of expatriate Tamils whom […]
IMF backs Sri Lanka central bank stance
Feb 26, 2010 (LBO) – The International Monetary Fund, which put a deal with Sri Lanka on the shelf till at least May on a runaway budget, has backed the monetary policy stance of the island’s central bank. The central bank met its two performance criteria under the 2. 6 billion US dollar deal, a […]
Sri Lanka inflation gathers speed to 6.9-pct in Feb
Feb 26, 2010 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 6. 9 percent in February 2010 from a year earlier, up from 6.5 percent January while prices increased 0. 2 percent during the month, the government’s statistics office said. Sri Lanka’s Colombo consumer price index (CCPI) has been rising steadily after April […]
Sri Lanka crackdown shreds hopes of reconciliation
February 25, 2010 (AFP) – In the afterglow of his thumping re-election last month, Sri Lankan President Mahinda Rajapakse promised to build a strong and unified country that would consign its 37-year civil war to the past. Instead, his government launched a sweeping crackdown that has seen the man he defeated at the polls, former […]
Top Sri Lanka economist seeks parliamentary entry
Feb 26, 2010 (LBO) – Top Sri Lanka economist Harsha de Silva has been nominated as a candidate from the main opposition United National Party for parliamentary polls to be held in April. De Silva has been a firm critic of deficit spending, high inflation and weak macro-economic management and had managed to generate a […]
Sri Lanka IMF loan tranche held back on runaway budget
Feb 25, 2010 (LBO) – The International Monetary Fund (IMF) has held back the third tranche of a 2. 6 billion US dollar loan to Sri Lanka after the country’s budget went off track in the last quarter of 2009. The tranche of slightly over 300 million US dollars was expected in March after following […]
Sri Lanka watching inflation: CB Governor
Feb 23, 2010 (LBO) – Sri Lanka is concerned about inflation but is expecting pressure on the monetary system to ease after April following the island’s traditional New Year festival, Central Bank Governor Nivard Cabraal said. This week, the Treasury bill stock held by the Central Bank rose to 43 billion rupees from around 35 […]