Category: South Asia
Sri Lanka signs articles of agreement for Asian Infrastructure Investment Bank
June 29, 2015 (LBO) – Sri Lanka on Monday signed the articles of agreement for the China led Asian Infrastructure Investment Bank which is expected to be operational by the year end. Representatives from 57 prospective founding members of the Asian Infrastructure Investment Bank including Sri Lanka gathered on 29 June 2015 in Beijing at […]
South Asia gets largest share of funding for climate change from development banks
Jun 18, 2015 (LBO) – Six multilateral development banks (MDBs) delivered over 28 billion US dollars in financing in 2014 to developing countries and emerging economies to mitigate and adapt to the challenges of climate change, a report said. “Among the regions, South Asia received the largest share of total funding, at 21 percent,” the […]
Growth in South Asia 7.1-pct in 2015: World Bank
June 12, 2015 (LBO) – The World Bank says growth in South Asia is expected to continue at a firm 7.1 percent this year, led by a recovery in India. “Regional GDP growth is expected to remain at just over 7 percent during 2015, and rise at a moderate pace toward 7.5 percent in 2017, in line […]
‘s Foreign Minister to visit Japan next week
June 10, 2015 (LBO) – Sri Lanka’s Foreign Minister Mangala Samaraweera will visit Japan from 17 to 20 June as a Guest of Japanese Foreign Affairs Minister Fumio Kishida.During the visit, Samaraweera will hold bilateral discussions with Minister Kishida on issues of mutual interest including promoting cooperation in the political, economic and cultural spheres, in […]
Economic growth in Asia Pacific up slightly to 5.9-pct in 2015: ESCAP
May 19, 2015 (LBO) – Economic growth in Asia and the Pacific is expected to increase only slightly to 5.9 percent in 2015 from 5.8 percent in 2014, a recent report revealed. “Economic growth in Asia Pacific continues to fare well in the global context,” the Economic and Social Survey of Asia and the Pacific […]
South Asian market should integrate to tap global growth: SEC Chief
Apr 27, 2015 (LBO) – South Asian regional markets need to interact with each other in order to tap in to global economic growth, Chief of the Securities Exchange Commission said. “There is a systematic surge in the region towards a greater degree of economic integration in the real sector through bilateral and multilateral trade […]
Sri Lanka tops web searches on Google for the term sex
Dec 18, 2014 (LBO) – Sri Lanka has become the top nation beating India, having highest volume of internet searches for the term ˜sex’, a report released by Google trends said. Homagama, Colombo and Nugegoda topped the list of people Googling the term ˜sex’ in 2014 in the Western Province, while Kandy came the fourth […]
India lashes WTO, defends decision on failed trade deal
NEW DELHI, August 5, 2014 (AFP) – India on Tuesday defended its decision to scuttle a landmark worldwide trade deal, saying it needed to take a tough stand at the WTO to ensure the survival of its impoverished farmers.Trade Minister Nirmala Sitharaman also lashed out at the World Trade Organization, accusing it of foot-dragging on […]
”’ budget reform
NEW DELHI, July 13, 2014 (AFP) – The maiden budget from India’s new right-wing government has promised a return to high growth — but disappointed some who hoped premier Narendra Modi might use his thumping mandate to unleash radical change. The Bharatiya Janata Party (BJP) government opted for small steps in last week’s budget, in […]
Bombay Stock Exchange shut after network outage
MUMBAI, July 3, 2014 (AFP) – The Bombay Stock Exchange, India’s second-biggest financial market, shut down during morning trade Thursday owing to computer network problems, a spokesman said. “Due to a network outage being currently faced, BSE has decided to close all markets,” spokesman Yatin Padia said in a message to AFP, after trading stopped […]
France first in New Delhi as West courts Modi
NEW DELHI, June 30, 2014 (AFP) – France Monday became the first Western power to hold talks in India with the government of Prime Minister Narendra Modi as Foreign Minister Laurent Fabius arrived to push defence deals and trade.The reform-minded Modi has been widely courted by Western governments since his election in May, with his […]
‘s power sector losses seen at $27bn by World Bank
NEW DELHI, June 24, 2014 (AFP) – Annual losses in India’s dysfunctional power sector are forecast to rise to billion in 2017 unless the government enacts sweeping reforms in the face of rising demand, a World Bank study said Tuesday.India has one of the world’s lowest per capita electricity consumption rates, with the average person […]