Category: South Asia
‘s ECT
Aug 26, 2016 (LBO) – Sri Lanka is seeking a partner from the Indian subcontinent to develop a port designed to be its deepest and accommodate the world’s largest container vessels, Shipping Minister Arjuna Ranatunga told the Indian Express. The Sri Lanka Port Authority (SLPA) is looking for a foreign investor with about USD 400 […]
U.S. Pacific Command completes assistance operation in north
Aug 24, 2016 (LBO) – A multinational team led by U.S. Pacific Command has concluded a week-long assistance program in Jaffna, providing general medical care for 4,000 people and renovating six schools that serve 1,100 students, the U.S. Embassy said. Operation Pacific Angel is a joint civil-military operation led by U.S. Pacific Air Forces to […]
‘s policies
Aug 22, 2016 (LBO) – The Indian government has appointed a well-respected deputy governor Urjit Patel at the Reserve Bank of India to become the country’s next central bank governor, ending months of uncertainty over the appointment. “Choosing Patel suggests that the government supports or at least is content to continue with Rajan’s policies at […]
Asian growth steady despite weak global prospects, Brexit: ADB
July 18, 2016 (LBO) – Growth in Asia and the Pacific’s developing economies for 2016 and 2017 will remain solid as firm performances from South Asia, East Asia and Southeast Asia help offset softness from the US economy, and near-term market shocks from the Brexit vote, says a new Asian Development Bank report. In a supplement […]
‘s post-war reconciliation efforts
July 12 (Reuters) – The United States on Tuesday praised Sri Lanka‘s steps taken under a U.N. resolution to address alleged human rights abuses in the final phase of a 26-year war with Tamil Tiger rebels, and said it would do what it could to see through the process. Washington along with other Western nations […]
‘s exit from Indian Reserve Bank rattles investors
June 20, 2016 (LBO) – India’s Central Bank Governor Raghuram Rajan said in a letter on Saturday that he won’t serve past his term which ends in September, a reflection of a tense relationship with the government and their attempt to push him out the door. Rajan becomes the first RBI governor since India’s economic […]
South Korea cuts base rates by 25bps first time in 12 months
June 10, 2016 (LBO) – South Korea’s central bank yesterday decided to cut the base rate by 25 basis points to 1.25 percent amid risks to growth from domestic and international markets. Releasing a statement, the Monetary Policy Board said it will ensure the recovery of economic growth continues and consumer price inflation approaches the […]
South Asia developing 7.1 pct; Sri Lanka falling behind on debt, growth
June 10, 2016 (LBO) – Growth in South Asia is expected to reach 7.1 percent in 2016 and strengthen to 7.3 percent by 2018, underpinned by robust domestic demand, the World Bank said in its Global Economic Prospects report. In the near term, consumption spending continues to benefit from low oil prices and modest inflation […]
India plans expanded missile export drive, with China on its mind
June 9 (Reuters) – India has stepped up efforts to sell an advanced cruise missile system to Vietnam and has at least 15 more markets in its sights, a push experts say reflects concerns in New Delhi about China’s growing military assertiveness. Selling the supersonic BrahMos missile, made by an Indo-Russian joint venture, would mark […]
La Nina may give India heavy monsoon, Sri Lanka expects usual monsoon
May 25, 2016 (LBO) – India may have the highest monsoon rainfall in 22 years with La Nina on the cards, according to a private weather forecaster, boosting agricultural production and easing a shortage of drinking water. Although the prediction by Skymet Weather Services Pvt., a New Delhi-based private forecaster, is higher than the forecast […]
India to turn Iranian port into transit hub bypassing Pakistan
May 24, 2016 (LBO) – India, Iran and Afghanistan have signed a tripartite agreement to turn the Iranian Chabahar port into a transit hub bypassing Pakistan, foreign media reported. The agreement will significantly increase the use of Chabahar port and connect India to Central Asia through Afghanistan and also provide Afghanistan access to India through […]