Sri Lanka central bank keeps key rates steady as expected

By Ranga Sirilal COLOMBO, Aug 3 : Sri Lanka’s central bank left its key policy rates unchanged as expected on Friday, saying the decision backed its goals for stabilising inflation and fostering sustainable economic growth. The move comes as some investors are worried about a slowing economy and increases in fiscal spending ahead of presidential […]

China’s free trade talks with Sri Lanka hit major hurdles

By Shihar Aneez COLOMBO, May 31 :Talks between China and Sri Lanka for a free trade agreement have hit major hurdles, mainly because Beijing will not agree to Colombo’s demand for a review of the deal after 10 years, Sri Lanka’s top negotiator said. China has invested billions of dollars building ports and roads and […]

Sri Lanka accepts $1 bln, 8-yr syndicated loan from China Dev Bank

By Shihar Aneez COLOMBO, May 25 : Sri Lanka has accepted an eight-year China Development Bank $1 billion syndicated loan to repay loans maturing this year, two top Finance Ministry officials said on Friday. The bank was chosen from among four bidding for the loan, which the government plans to use towards repaying other loans, […]

Sri Lanka’s PM faces tight confidence vote as key ally plans to defect

By Shihar Aneez COLOMBO, Apr 3 : Sri Lanka’s Prime Minister Ranil Wickremesinghe faces a no- confidence motion on Wednesday that could go down to the wire and lead to political instability in the island nation, even if the government manages to scrape a win. Wickremesinghe leads a national unity government in alliance with President […]

Sri Lanka lifts ban on Facebook imposed after spasm of communal violence

By Shihar Aneez and Ranga Sirilal COLOMBO, Mar 15 : Sri Lankan officials said on Thursday they had lifted a ban on Facebook after discussions with the social network, a week after blocking access on the grounds it was being used to fuel communal violence. At least two people were killed in clashes last week […]