Sri Lanka’s monetary board to act as governor- deputy chief

By Ranga Sirilal and Shihar Aneez COLOMBO, Jul 1 : Sri Lanka’s monetary board will be responsible for the central bank’s daily operations effective immediately, Deputy Governor Nandalal Weerasinghe told Reuters on Friday, after the previous governor declined to seek reappointment amid a corruption probe. The term of Arjuna Mahendran, who headed the central bank […]

Sri Lanka to gradually ban house maids abroad amid abuses, social cost

By Shihar Aneez COLOMBO, Jun 1 : Sri Lanka will gradually stop sending house maids abroad, mainly to the Middle East, due to rights abuses, social costs and a local labour shortage, government spokesman Rajitha Senaratne said today. Sri Lanka’s expatriate workers, mainly house maids and unskilled labourers, send back remittances – the island nation’s […]

Sri Lanka seeking to borrow $3.5 bln through foreign debt

By Shihar Aneez and Ranga Sirilal COLOMBO, May 25 : Sri Lanka is in the process of borrowing up to $3.5 billion from foreign sources via syndicated loans, sovereign bonds, and sukuk, the country’s finance minister said on Wednesday. The borrowing plan comes as the South Asian nation seeks to fix its precarious balance of […]

Sri Lanka’s debt-laden airline to sell four new Airbus planes

By Shihar Aneez and Ranga Sirilal COLOMBO, May 10 : Sri Lanka’s debt-ridden national airline will sell four new Airbus A350s, a government minister said on Tuesday, two weeks after cancelling an order for four of the aircraft. The state-owned carrier had already sold one of the four planes for a “reasonably good price” to […]

UN urges judiciary reforms in Sri Lanka to avoid delay in justice

By Shihar Aneez and Ranga Sirilal COLOMBO, May 7 : United Nations human rights experts today urged Sri Lanka, which is under scrutiny for its human rights record during the 26-year Tamil insurgency, to implement judicial reforms to speed up prosecutions. Sri Lanka agreed last year to establish a judicial process involving foreign judges and […]