Category: Economy
Sri Lanka’s new rulers look at “game theory” to pass 19th & 20th amendment: Harsha de Silva
Apr 27, 2015 (LBO) – Sri Lanka’s new administration said, it has to use the theory of games, a study of strategic decision making to pass the 19th and 20th amendments to the constitution.Game theory is a strategic decision making process that is mainly used in economics, political science and psychology as well as logic, […]
Sri Lanka’s International Arbitration Centre starts May 2015
Apr 23, 2015 (LBO) – Sri Lanka is expected to commence activities of International Arbitration Centre from the month of May, government spokesman, Rajitha Senaratne said.He says the government aims to develop Sri Lanka as a regional hub to provide services related to law and order, considering the professional capabilities in the country’s legal sphere.The […]
‘s Central Bank to have $1.1bn currency swap extension from India
Apr 23, 2015 (LBO) – Sri Lanka’s Central Bank is to enter into an agreement with India to extend its currency swap facility by 1.1 billion US dollars. The union cabinet chaired by the Indian Prime Minister on Wednesday gave its ex-post-facto approval for entering into an agreement with the Sri Lankan Central Bank for […]
”; Outlook Stable
Apr 22, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed countries’s Long-Term Foreign and Local Currency Issuer Default Ratings at ‘BB-‘. The issue ratings on Sri Lanka’s senior unsecured foreign and local currency bonds are also affirmed at ‘BB-‘, Fitch Ratings said in a statement.The Outlooks on the Long-Term IDRs are Stable and the […]
Sri Lanka’s business chamber urges political parties to support delayed 19th amendment
Apr 22, 2015 (LBO) – Sri Lanka should take advantage of the multi-party government to strengthen constitutional governance in the country and pave the way to improve the business climate in the country to attract greater investment, both local and foreign, a statement said. “Considering the importance of the constitutional reforms that have been proposed […]
ADB has performed well in Sri Lanka: Report
Apr 21, 2015 (LBO) – Sri Lanka has been rated as a country where the Asian Development Bank operations performed well in South Asia, a new annual review by Independent Evaluation of the Asian Development Bank (ADB) said.“The country assessments point to a relatively good performance of ADB operations in South Asia, particularly in Bhutan, […]
Asia must lift productivity for higher growth and wellbeing, human development is critical: ADB
Apr 20, 2015 (LBO) – Asia and the Pacific need to increase the overall productivity through investments in physical, human and natural capital, said a new annual review by Independent Evaluation at the Asian Development Bank (ADB).“A part of boosting productivity is making the most of human resources which therefore is also good for greater […]
Sri Lanka’s business Chamber urges speedy election; Political uncertainty driving investors away
Apr 19, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of commerce says, the prevailing political uncertainty impacts negatively on the economic and business environment in the Island and to restore confidence and attract investment, parliamentary elections must be held expeditiously. The chamber says even though it appreciates the diverse positions taken on the forthcoming general […]
Sri Lanka’s 100 day programme to be observed by IMF, ready to support in future: Finance Ministry
Apr 18, 2015 (LBO) – Sri Lanka’s new government’s 100 day programme would be closely observed by the International Monetary Fund (IMF), a statement released by the Finance Ministry said.“The IMF is pleased to see the reliefs that the new rulers have provided for people though the 100 day programme and would like to provide […]
South Asia, fastest growing region; will grow at 7-pct in 2015: World Bank
Apr 17, 2015 (LBO) – South Asia is expected to grow at 7 percent in 2015, picking up pace to 7.6 percent by 2017 as more productive capital is brought on stream, a World Bank report said. “South Asia is set to become the fastest growing region with the region expected to grow at 7 […]
‘s group concerned over Chinese funded port city project
Apr 17, 2015 (LBO) – Sri Lanka’s citizen’s group, Friday Forum has expressed concern about a recent controversial Chinese funded project and said full disclosure is needed on the 1.4 billion project. “The Friday Forum calls upon the government to immediately place in the public domain the details of all agreements, assessments and regulatory determinations […]
Sri Lanka advised to attract FDI, in order to maintain high growth rate: World Bank
Apr 17, 2015 (LBO) – Sri Lanka is advised to attract more foreign investments to keep up with its high growth rate due to the Island’s limitation on public and private national savings compared to national investment, a newly released World Bank report said.“With limited public and private national savings compared to national investment, Sri […]