Category: South Asia
US General Electric seals USD2.6 bn deal to build Indian trains
Nov 10, 2015 (LBO) – General Electric, an American multinational conglomerate, has won a contract to build new trains for the Indian government, foreign media reports said. The contract is worth 2.6 billion US dollars and will provide the country with 1,000 new diesel trains over the next 11 years.“The deal includes a 200 million […]
Two foreigners killed in Bangladesh worries business community
Oct 15, 2015 (LBO) – Two foreigners killed in Bangladesh has caught the attention of the international community with foreign business executives reconsidering their visits to Bangladesh. Italian aid worker Cesare Tavella and Japanese farmer Kunio Hoshi were both shot dead in similar style attacks a few days apart. Previously, attacks on foreigners were rare […]
India steps up to replace China as growth engine
Oct 14, 2015 (LBO) – India stands out in economic growth terms, especially in Asia, this year and is stepping up to the plate to replace China as the world’s growth engine, analysts say. Indian industrial production surged to a three-year high of 6.4 percent in August, when countries such as Thailand, Brazil, Japan, South […]
Sri Lanka’s growth to increase to 5.6-pct in 2016: World Bank
Oct 05, 2015 (LBO) – Sri Lanka’s growth is expected to increase to 5.6 percent in 2016 with the increase in state sector workers and disposable income, a World Bank report said. “In Sri Lanka growth is expected increase to 5.6 percent due to higher public sector wages and higher disposable incomes,” the report said. […]
South Asia Not Taking Full Economic Advantage of Urbanization: World Bank
Sep 25, 2015 (LBO) – South Asian countries have struggled to make the most urbanization and transform their economies to join the ranks of richer nations, a World Bank report released Thursday said. Difficulty in dealing with the pressures that increased urban populations put on infrastructure, basic services, land, housing and the environment have fostered what […]
Developing Asia needs to strengthen women’s place in the labor market: ADB
Sep 23, 2015 (LBO) – Taking strong proactive measures to get more women into productive, well-paid jobs, entrepreneurship, and leadership positions will bring multiple and long-lasting economic and social benefits to developing Asia, the ADB said. According to the ADB’s annual economic publication, Asian Development Outlook 2015 women’s participation in Asia’s workforce has actually fallen […]
Sri Lanka policy change will accelerate poverty reduction: World Bank
Sept 19, 2015 (LBO) – Policy change is critical to accelerating poverty reduction and boosting prosperity in Sri Lanka, the World Bank Vice President for the South Asia Region, Annette Dixon, said during her recent meetings with the island’s leadership. She renewed the World Bank’s commitment to partner with the new government in implementing policy […]
‘s help to study Blue Mormon butterfly
Sept 10, 2015 (LBO) – India’s Forest Minister Sudhir Mungantiwar has sought Sri Lanka’s help to study the newly declared state butterfly of Maharashtra, the Blue Mormon, as they do not have sufficient information about it, he said. He had made this request to Sri Lanka’s Consul General to Mumbai, Saroja Sirisena, during a recent […]
‘s SMEs need more growth capital to be competitive: ADB
Sep 03, 2015 (LBO) – Sri Lanka’s and the rest of Asia’s small and medium sized enterprises (SMEs) need finance to help them grow into dynamic, internationally competitive companies, an Asian Development Bank (ADB) report said.This is key to strong, sustainable growth in Asia as the world recovers from the recent global economic slowdown, says […]
India Orders More Tests on Maggi as court lifts ban
Aug 14, 2015 (LBO) – India has ordered further tests on Maggi, a popular noodle brand before the product can go back on sale following a court overturning a government ban on the product, Thursday, foreign media reported.“We have examined the evidence in great detail.Since the petitioner Nestle has already agreed not to make and […]
India receives USD20bn FDI from 12 countries in 2014-15 including Sri Lanka
Aug 07, 2015 (LBO) – India has received 19.78 billion US dollars worth foreign direct investment from 12 countries visited by Prime Minister Narendra Modi. Indian Commerce and Industry Minister Nirmala Sitharaman has informed Parliament that during the period, Indian companies have invested only 3.42 billion US dollars in these 12 countries. These countries include […]
India allows watching internet sex after widespread criticism over ‘moral policing’
Aug 06, 2015 (LBO) – India has lifted its ban on 857 websites that host adult or pornographic content after the move was severely criticized as a Talibani type decision.The government reversed the decision it took few days ago, ordering Internet Service Providers to only block access to sites that contain ‘child pornographic content’ allowing […]