Category: Economy

September 9, 2008 (AFP) – The United Nations said Tuesday it was withdrawing all its aid agency personnel from Sri Lanka’s embattled north, following a government order to quit ahead of a major military offensive. Only a few aid agencies, including the UN outfits, still operate inside the rebel-held Wanni district in northern Sri Lanka. […]

GENEVA, September 9, 2008 (AFP) – The international Red Cross said Tuesday it has stepped up its efforts to assist thousands of displaced people in the rebel-held Wanni area of northern Sri Lanka. Tens of thousands of people have died on both sides since the Liberation Tigers of Tamil Eelam launched a separatist campaign in […]

Sept 08, 2008 (LBO) – Sri Lanka’s most prosperous conditions are found in the Western province followed by the central and southern province, while the Northern province trails behind, an index devised by the Central Bank has found. Officials say the index goes beyond traditional measures like economic growth to find out what makes people […]

TEHRAN, September 7, 2008 (AFP) – Iran’s inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods. The consumer price index (CPI) in urban areas increased by 27.6 percent compared to the same […]

Sept 06, 2008 (LBO) – Sri Lanka’s ‘core’ inflation index, which is claimed to be responsive to central bank action, continued to edge up in August, even as ‘headline’ inflation fell amidst tight policy, and Thailand got ready to scrap core inflation targeting.A statement from the statistics unit of Sri Lanka’s central bank said a […]

Sept 04, 2008 (LBO) – Sri Lanka would bring in a new law to collect taxes going back more than half a century from individuals, companies and corporations, a government official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The new law which has already been […]

Sept 04, 2008 (LBO) – The World Bank will help Sri Lanka build infrastructure and boost economic services to communities marginalized by an internal conflict and the poor, a top official has said at the conclusion of a visit to the island. “Sri Lanka clearly has so much potential which is being held back by […]

Sept 04, 2008 (LBO) – Sri Lanka is starting a survey to find bugs that are resistant to antibiotics, and also standardize testing, a pharmaceuticals giant that is funding the project, said.To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Epidemiological information on resistance patterns is scarce in […]

Aug 29, 2008 (LBO) – A central bank should not relax monetary policy (print more money) to increase employment, or finance wars and subsidies, because inflation, which is worse than terrorism, would be the result, a top Sri Lankan economist said. Economic analysts have pointed out that inflation and foreign exchange shortages became a problem […]

Aug 29, 2008 (LBO) – Consumer prices increases in the Sri Lankan capital Colombo fell to 24.9 percent in the 12-months to August from 26.6 percent in July, government statistics showed.Sri Lanka’s Central Bank has kept monetary policy tight from the beginning of the year under a strict reserve money targeting regime, which was further […]

August 27, 2008 (AFP) – Sri Lankan jets carried out retaliatory attacks against Tamil Tiger rebels on Wednesday, a day after the guerrillas used a light aircraft to bomb a key naval facility, officials said.Tens of thousands of people have died since the LTTE launched a separatist campaign in 1972 to carve out a homeland […]

Aug 26, 2008 (LBO) – Sri Lanka’s foreign direct investment (FDI) flows in the first six months of the year reached 425 million US dollars with telecoms bringing in most of the money, the investment promotion office said.Sri Lanka’s telecom firms have been pouring billions into network expansion in the last few years, but the […]