Tag: economy

Dec 11, 2010 (LBO) – Sri Lanka should have consistent government policies to increase private sector confidence to invest more in the economy which in turn would boost economic growth, a senior chartered accountant said. A total of 57 awards were given out at the ceremony for finance, banking, hotel, health, manufacturing and insurance sectors. […]

Dec 08, 2010 (LBO) – Sri Lankan government efforts to prevent labour trouble in recent years despite tough economic conditions should be considered part of its effort to support the business community, central bank governor Nivard Cabraal said. “If we have good roads, that’s a relief. If we have employment, 24-hour electricity and coverage throughout […]

Dec 09, 2010 (LBO) – Sri Lanka will borrow 760 million US dollars from two state-banks in China to upgrade more than one thousand kilometres of roads in the island including key roads in former war-torn areas in the Northwest of the country, the government said. The government will borrow 500 million dollars from China […]

Dec 07, 2010 (LBO) – Sri Lanka and China are emerging as key destinations for services investments, while Phillipines has overtaken India as the top ranked outsourcing centre, a report by IBM, a global information technology firm has said. In IBM’s Global Location Trends report for 2010 Philippines claimed top place displacing India for the […]

Dec 06, 2010 (LBO) – Sri Lanka is hoping to bring down unemployment lower than the current 5. 2 percent and keep inflation and interest rates low to bring down poverty with higher growth, Central Bank Governor Nivard Cabraal said. “Poverty to has been brought down to 7.6 percent which would have taken many poeple […]

Dec 06, 2010 (LBO) – Sri Lanka’s full-year economic growth for 2010 is estimated at 8. 0 percent is based on the latest data, Central Bank Governor Nivard Cabraal said, firming an earlier forecast of 7.5 to 8.0 percent. “It is estimated by our statistics team that Sri Lanka will record a growth of 8. […]

KUALA LUMPUR, December 4, 2010 (AFP) – Malaysia has cut subsidies for fuel and sugar, a report said Saturday, in a bid to reduce its budget deficit by saving the government 1. 18 billion ringgit (376 million dollars). The opposition scored unprecedented gains in elections in 2008 which saw it claim five states and a […]

Dec 02, 2010 (LBO) – Sri Lanka may use extra foreign reserves in a proposed export import bank to be set up next year to finance exporters and contractors, Central Bank Governor Nivard Cabraal said. China transferred a part of its foreign reserves to a forex management agency after issuing Treasury bills to its central […]

November 30, 2010 (AFP) – A 5.6-magnitude earthquake struck the South Indian Ocean on Wednesday, the US Geological Survey said, although there were no immediate reports of damage and there was no tsunami warning in effect. The quake hit at a shallow depth of 15. 3 kilometres (9.5 miles) at 02:19 local time (21:19 GMT […]

November 30, 2010 (AFP) – Sri Lanka is to turn a vast jungle area that was a base for the separatist Tamil Tiger rebels into a wildlife sanctuary, 18 months after the end of island’s bloody civil war, the government said Tuesday. The jungles of Mullaittivu, from where the rebels launched attacks for decades until […]

Dec 01, 2010 (LBO) – Sri Lanka’s exports rose 16.7 percent to 662.9 million US dollars in September 2010, helped by higher commodity prices and a surge in apparel exports while imports grew at a faster 35.9 percent widening the trade gap, Central Bank data showed. “While earnings from garment exports to the EU increased […]

Dec 01, 2010 (LBO) – The Singapore-based Shing Kwan group has re-activated its big Havelock City residential and commercial property project in Sri Lanka with plans to build 800 more apartments, its chairman S P Tao said. “The nature and scale of development would be similar to those in Hong Kong and Singapore,” Tao said. […]