Category: Economy

Oct 12, 2011 (LBO) – Sri Lanka’s Urban Development Authority which was focussing on the capital Colombo will offer state lands in former war-zones for commercial development, director general Rohan Fernando said. “Now we are making arrangements to provide lands from Mankulam, Kilinochchi and Jaffna,” he told a forum on property development at the Central […]

Oct 12, 2011 (LBO) – Vietnam President Truong Tan Sang will begin a three day-state visit Thursday which will see economic and defence related bilateral accords being concluded, Sri Lanka’s foreign ministry said. On Friday Sri Lanka President Rajapaksa will hold bilateral discussions with the Vietnamese President to explore opportunities to strengthen relations promote co-operation. […]

STOCKHOLM, (AFP) – US researchers Thomas Sargent and Christopher Sims won the 2011 Nobel Economics Prize on Monday for their work on macro-economics and government economic policymaking, the Nobel jury said. This year’s laureates “have developed methods for answering … questions regarding the causal relationship between economic policy and different macro-economic variables, such as GDP, […]

WASHINGTON, 2011 (AFP) – Christopher Sims and Thomas Sargent are friendly rivals whose careers have tracked each other’s from the time they were Harvard doctoral students to Monday’s announcement that they had both won the 2011 Nobel Economics Prize. As it happened, Sims and Sargent, both 68, were teaching a class together at Princeton University […]

Oct 10, 2011 (LBO) – Sri Lanka will continue its current monetary stance with inflation expected to moderate, Deputy Central Bank Governor Dharma Dheerasinghe has said, though a signal rate edged higher with new policy tools being deployed. Sri Lanka’s 12-month inflation fell to 6.4 percent in September from 7.0 percent in August. Inflation was […]

LONDON, October 7, 2011 (AFP) – Britain’s defence minister Liam Fox ordered an inquiry Friday into the role of a friend and self-styled adviser after claims that he influences government business despite having no official role. Fox said the “wild allegations” would be probed after confirming that he met Adam Werritty on an official visit […]

Oct 07, 2011 (LBO) – Sri Lanka’s equity markets would see a positive inflow by the end of the year as better pricing attracts investors, deputy Central Bank governor Dharma Dheerasinghe said. So far this year Sri Lanka’s equity markets have seen a net outflow of 150 million dollars. “By the end of the year […]

Oct 07, 2011 (LBO) – The Employers’ Federation of Ceylon, which represents Sri Lankan companies, plans to extend its services to businesses outside the capital by tying up with business chambers in the island’s outlying regions. The EFC has signed agreements with the Yarlpanam Chamber of Commerce and Industries in northern Jaffna and the southern […]

Oct 07, 2011 (LBO) – Sri Lanka should avoid the mistake of destroying historical buildings when cities are modernized and demand for land and real estate rises, a Singapore-based academic told a forum in Colombo. Separately an advisory board to the National Museum has written to the president saying that the boundary wall has been […]

Oct 07, 2011 (LBO) – Sri Lanka’s 2012 budget will be presented on November 21 with estimates being prepared with a deficit of 6.2 percent of gross domestic product and inflation at 6-7 percent. In the budgeting process, “priority has been given for the completion of ongoing development activities before allocating resources for new projects,” […]

Oct 06, 2011 (LBO) – Sri Lanka’s economy has to move forward without interruption to avoid unrest and instability amid turmoil around the world, Central Bank Governor Nivard Cabraal said. “The world is going through tremendous turmoil if you look at the way the economic scenario is unfolding. Cabraal told members of the Institution of […]

Oct 06, 2011 (LBO) – The Maldives is seeking more investments from Sri Lanka, especially in construction, transport and energy, and a credit line offered to Sri Lankan exporters is to be broadened beyond fruits and vegetables. The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the […]