Category: South Asia
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 […]
‘s Lagarde
New Delhi, Mar 12, 2016 (LBO) – Even-greater trade integration can support more sustained growth, especially for countries in South Asia, observed Christine Lagarde, Managing Director, International Monetary Fund. Lagarde made these remarks at the opening session of a three-day high-level conference in New Delhi themed “Advancing Asia: Investing for the Future”. The conference is […]
Bangladesh alleges USD100mln stolen from NY Fed, transferred to Sri Lanka
Mar 09, 2016 (LBO) – Bangladesh’s government says it plans to sue the Federal Reserve Bank of New York after hackers allegedly stole nearly USD 100 million from a reserve account and transferred funds to Philippines and Sri Lanka. Suspected hackers stole the money from Bangladesh’s foreign exchange account on February 5, according to a […]
Indian Foreign Minister Sushma Swaraj to visit Sri Lanka
Feb 03, 2016 (LBO) – Indian Foreign Minister Sushma Swaraj will undertake an official visit to Sri Lanka from 5-6 February 2016 for the Ninth Session of the India-Sri Lanka Joint Commission. The Joint Commission, co-chaired by the Foreign Minister of Sri Lanka and his Indian counterpart will be held on 5 February 2016 in […]