Tag: economy

COLOMBO, Sept 17, 2012 (AFP) – Sri Lanka is banking on cricket to repair the damage to its blood-stained image after the brutal end to a 37-year ethnic war as it stages the biggest tournament in the nation’s post-independence history. Since declaring an end in 2009 to a conflict that claimed up to 100,000 lives, […]

Sept 17, 2012 (LBO) – Sri Lanka’s economy grew 6.4 percent in the second quarter of 2012 from a year earlier, slowing from 7.9 percent in the first quarter, gross domestic product estimates by the state statistics office showed. The statistics office said agriculture grew 9.1 percent from a year earlier, industry grew 9. 5 […]

Sept 14, 2012 (LBO) – Sri Lanka’s will keep credit ceilings in place as banks still have enough space to lend, and policies taken to fix balance of payments pressure is bringing results, Central Bank Governor Nivard Cabraal said. Governor Cabraal says measures taken earlier in the year, including credit ceilings are now taking effect […]

Sept 14, 2012 (LBO) – Sri Lanka should cut corruption and create transparent processes for investors and also avoid unpredictable actions such as expropriating property, a senior US State Department official said. “In general we want to see the government do as much as they can to reduce some of the impediments – bureaucratic impediments […]

Sep 10, 2012 (LBO) – Sri Lanka has run a deficit of 4. 0 percent of gross domestic product in the first half of the year, though there are signs that more taxes are being extracted out of citizens to cover state spending, official data shows. The revenue deficit or the gap between money spent […]

Sept 06, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding a business forum with the participation of the World Bank’s International Finance Corporation is to discuss opportunities in the Greater Mekong region in South East Asia. Dorabawila will speak on ‘South-South Business Development and Investment for Sri Lanka: Opportunities and […]

Sept 03, 2012 (LBO) – A real estate project by India’s Krrish group in the heart Sri Lanka’s capital Colombo will have four towers including an 80 storey one sitting on a 10-storey podium block, the island, investment promotion agency said. State land around ‘Transworks House’ a British colonial era administration building will be given […]

Aug 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9. 5 percent in August 2012 from a year earlier, easing slightly from 9. 8 percent in July, with the index falling in absolute terms in the month, the state statistics office said. The Colombo Consumer Price Index fell 0. 6 percent […]

Aug 28, 2012 (LBO) – India will build a 200-bed ward complex at Vavuniya hospital in Sri Lanka’s north as a fully grant funded 200 million rupee project, the Indian high commission (embassy) in Colombo said. “The Project envisages construction of a four-storey ward complex to improve the existing infrastructure of the Hospital to meet […]

Aug 28, 2012 (LBO) – Lanka Milk Foods, a unit of Sri Lanka’s Stassen group said it was eyeing former war zones in the north and east of the country for expansion, while it operated within complex state interventions. LMF’s imported milk business was hit by state price controls and import duties but it also […]

Aug 26, 2012 (LBO) – Sri Lanka’s Navy said it arrested 98 boat people in two multi-day fishing vessels who were bound for Australia, taking the total arrested or rescued to 1,076 in the past three months, according to data released so far. In July the Navy had rescued or intercepted 542 people including 08 […]

Aug 10, 2012 (LBO) – Sri Lanka’s northern province which had been badly hit by three decades of war had the highest rate of economic growth in 2011 as a post-war revival continued, the central bank said. The North Western and Southern provinces benefiting from construction, trade, manufacturing, transport, and financial services recorded the next […]