Category: South Asia
Growth in developing economies forecast at 4.3-pct for 2016: IMF
Jan 20, 2016 (LBO) – Growth in emerging market are projected to increase from four percent in 2015 to 4.3 and 4.7 percent in 2016 and 2017, respectively, the latest International Monetary Fund’s global forecast says. “Growth in China is expected to slow to 6.3 percent in 2016 and 6.0 percent in 2017, primarily reflecting […]
Emerging Asia leverage, capital outflows constrain policy space: Fitch
Jan 08, 2015 (LBO) – Emerging Asia’s private consumption has remained resilient in the face of weaker external demand but investment has slowed down more substantially, particularly in the private sector, Fitch ratings said. The full statement follows Fitch Ratings-Hong Kong-07 January 2016: Fitch Ratings says Emerging Asia’s (EM Asia) private consumption has remained resilient in the […]
Pakistan PM on three-day visit to Sri Lanka
Jan 04, 2015 (LBO) – Pakistan’s Prime Minister Nawaz Sharif will be in Sri Lanka this week on a three-day visit for bilateral talks with the government and to launch a single country exhibition. Among topics to be discussed include the existing Free-Trade Agreement and cooperation in several areas including health, science and technology, money […]
Sharp China slowdown would hit global growth hard: Fitch
Dec 15, 2015 (LBO) – A sharp slowdown in China’s GDP growth rate to 2.3% during 2016-2018 would disrupt global trade and hinder growth, with significant knock-on effects for emerging markets and global corporates, according to a hypothetical study by Fitch Ratings. In turn, this would keep short-term interest rates and commodity prices lower for […]
Sri Lanka on UNESCO executive board
Nov 16, 2015 (LBO) – Sri Lanka has been elected to the executive board of the United Nations Educational Scientific and Cultural Organisation (UNESCO) during the 38th General Conference in Paris, the foreign ministry said. “Sri Lanka was one of six countries that qualified to serve on the Executive Board from the Asia and Pacific Group […]
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 […]