Category: World
Global economy going through period of change: IMF
Oct 12, 2015 (LBO) – The global economy is going through a period of change, the International Monetary Fund’s Managing Director Christine Lagarde said during Annual Meetings of the World Bank and the IMF in Peru over the weekend.“Uncertainty over the global economy is on the minds of policymakers in all countries, including here in […]
China launches international payment system
Oct 08, 2015 (LBO) – China’s central bank on Thursday launched the first phase of the China International Payment System in a bid to open their currency to the rest of the world.With the new system businesses will facilitate cross boarder yuan transactions while increasing the efficiency and its global usage, China Central Bank said.New […]
China Forex reserves posts record quarterly drop
Oct 07, 2015 (LBO) – China’s foreign exchange reserves has posted a record drop in September quarter after its central bank intervened into the market to stabilize the yuan. Its foreign exchange reserves have fallen to 3.51 trillion US dollars at the end of September, People’s Bank of China said. The reserves decreased by 43.26 billion […]
Volkswagen to start emission scandal recalls in Jan
Oct 07, 2015 (LBO) – German auto manufacturer Volkswagen says they will start to recall cars affected by its emissions scandal in January, foreign media reports said. New chief executive of Volkswagen Matthias Mueller told German media that all affected cars will be fixed by the end of 2016. According to the media report, Volkswagen has […]
US 2017 Green Card lottery begins
Oct 02, 2015 (LBO) – 2017 Diversity Immigrant Visa Lottery Program also known as the “Green Card” lottery has been opened for on-line registration from yesterday to November 3, 2015, the US embassy in Sri Lanka said.The lottery allows randomly selected applicants the opportunity to interview for an immigrant visa, and if qualified, become legal […]
UN resolution on Sri Lanka adopted unanimously
Oct 02, 2015 (LBO) – The UN Human Rights Council resolution on Sri Lanka was adopted unanimously with it calling for a judicial process including foreign judges, to investigate alleged war crimes during the islands 30 year conflict. The resolution debated among the 47 member states over two days was adopted by consensus and […]
India cuts key interest rate to bolster economy
Sept 29, 2015 (LBO) – India’s central bank reduced its policy interest rates by a larger-than-expected amount to support the economy amid China’s slowdown, media reports said. The benchmark repurchase rate was cut to 6.75 percent from 7.25 percent with most analysts expecting only a quarter percentage point cut. “The weakening of global activity since […]
No change in Australia’s policy against maritime people smuggling
Sep 28, 2015 (LBO) – Australian new government reaffirms that it committed to protect its borders and will continue to stop anyone who attempts to come illegally by boat. High Commissioner Robyn Mudie said that cooperation between Australia and Sri Lanka to counter people smuggling has never been stronger.He added that anyone who attempts to […]
‘s move away from pacifism closely watched by region
Sept 28, 2015 (LBO) – Japan’s move away from pacifism under Prime Minister Shinzo Abe will have regional repercussions, as the country looks towards an expanded military role, analysts say.Thousands of people protested in Tokyo as controversial bills that relaxed a ban on arms exports, aimed to develop weapons and increase the defense budget passed […]
700 pilgrims killed in worst Haj tragedy in 25 years
Sept 25, 2015 (LBO) – More than 700 pilgrims have died in a crush outside the Muslim holy city of Mecca, with a further 800 people injured, media reports said. This is the worst disaster in 25 years to occur during the holy pilgrimage. The Saudi King Salman has said he has ordered a review […]
Developing Asia’s Growth Outlook Pressured by China, India Moderation – ADB
Sep 22, 2015 (LBO) – Developing Asia’s growth projection for 2015 is to be pressurized due to softer growth prospects of China and India and a slow recovery in the major industrial economies, Asian Development Bank says in a report. In an update of its flagship annual economic publication, Asian Development Outlook 2015 (ADO 2015), ADB now […]
Asia’s Bonds Pressured by Interest Rate, Currency Concerns – ADB Report
Sep 16, 2015 (LBO) – Bond markets in emerging Asia came under pressure in the past quarter amidst concerns over softer growth, depreciating currencies, and US interest rates, ADB says. “Asian bond markets were buffeted by strong headwinds, including anticipation of the US Federal Reserve rate hike, which has led to an outflows of funds […]