Category: Economy and Markets

Oct 23, 2007 (LBO) – Lanka Rating Agency has warned of a possible slump in the property market which has been growing rapidly in recent years and shows signs of a classic ‘bubble’. LRA said that real estate markets are vulnerable to “waves of optimism and herd behaviour that result in bubbles.” It said in […]

Oct 22, 2007 (LBO) – Sri Lankan Tamil Tiger rebels launched an air and ground assault under cover of darkness on an air force base in the north central Anurahapura region, damaging two helicopter gunships and wounding at least eight troops in the early hours of Monday. The Tigers destroyed or damaged 26 commercial and […]

WASHINGTON, Oct 22, 2007 (LBO) – Sri Lanka needs debate on economic policy centered on real evidence or research instead of extreme posturing based on ideology if the island is to progress, a top development economist said. However up to July 2007 Sri Lanka spent four percent less on oil imports compared to the same […]

WASHINGTON, Oct 22 2007 (LBO) – Sri Lanka has been included in a new World Bank backed initiative to expand the international appeal of local currency bonds of emerging countries. The International Finance Corporation (IFC), the World Bank’s private sector financing arm, and the International Bank for Reconstruction and Development (IBRD) which finances middle income […]

Oct 22, 2007 (LBO) – Sri Lanka’s exports slowed down in August 2007 but cumulative higher export growth over imports helped narrow the trade deficit for the first eight months of the year, the Central Bank said Monday. It said in a statement on the island’s external trade performance that higher growth of exports over […]

WASHINGTON, Oct 21, 2007 (LBO) – The World Bank is putting up new money for agriculture development in rural areas but is promising not to repeat past mistakes that sowed small holder-based entrenched poverty in countries like Sri Lanka. In the 1980’s Sri Lanka embarked on a sweeping agricultural development drive building massive reservoirs and […]

WASHINGTON, Oct 21, 2007 (LBO) – The World Bank is putting up new cash to boost rural agriculture and is promising not to repeat past mistakes that helped sow small holder-based entrenched poverty in countries like Sri Lanka. In the 1980’s Sri Lanka embarked on a sweeping agricultural development drive building massive reservoirs and irrigating […]

WASHINGTON, Oct 20, 2007 (LBO) – Sri Lanka should pay more attention to rising inflation and address the problem with the country’s budget, a top IMF official said. “Inflation has picked up and they need to pay more attention to that,” IMF’s Asia Pacific Director David Burton said at the launch of the Asia and […]

WASHINGTON, Oct 19 2007 (LBO) – World Bank chief Robert Zoellick’s new push to lend to middle income nations is opening up new opportunities for countries like Sri Lanka to tap low cost funding, if good economic policies are followed. Zoellick said the bank was already working with the Gates Foundation. He said approaches by […]

Oct 18, 2007 (LBO) – Trade delegations from 12 countries have already confirmed their participation at IMEXPRO 2008, the Ceylon Chamber of Commerce said Thursday. The event is an international import – export promotion fair to be held from 14-16 February 2008 in the Sri Lankan capital Colombo, it said in a statement. The Ceylon […]