Tag: economy

Dec 15, 2011 (LBO) – Sri Lanka’s 2011 economic growth is likely to come slightly below an earlier expected 8. 3 percent and inflation will be below 6. 0 percent, Central Bank Governor Nivard Cabraal said. “Growth may be a little below 8. 3 percent,” Cabraal said. “But it will be higher than 8.0 percent.” […]

Dec 15, 2011 (LBO) – Sri Lanka is considered as a priority country for investment by Indian industry, the head of a visiting business mission from the Confederation of Indian Industry (CII) has told the island government. The 13-member CII mission’s main business interests were IT/BPO, auto components, metal and plastic products, electronic and engineering […]

Dec 14, 2011 (LBO) – Sri Lanka’s fresh produce trade including farmers and collectors rioted in several parts of the country amid police tear-gas after authorities started arresting citizens for transporting vegetables without plastic crates. The protests also underline deep flaws in the country’s policy and lawmaking, critics say. On Wednesday vegetable shops in the […]

Dec 10, 2011 (LBO) – Indian companies are keen to invest in post-war Sri Lanka given its growth prospects and are looking for opportunities, officials of Price Waterhouse Coopers India said. “These Indian entrepreneurs are looking at the emerging middle class which was the engine of growth for them in India,” he said. Indian businessmen […]

Dec 10, 2011 (LBO) – Vietnam is a country which left behind a bitter war civil war with foreign involvement to become a fast growing nation and a top destination for global foreign direct investments following its Đổi Má»›i or (renewal) political and market reforms starting from 1986. Vietnam built bridges both internally and externally […]

Dec 09, 2011 (LBO) – A Sri Lankan lawmaker has spoken out for food freedoms, after a fellow parliamentarian and prime minister proposed banning an imported food heavily consumed by Tamil speaking minority citizens. Harsha de Silva, a lawmaker representing Sri Lanka’s main opposition spoke out against a proposal by Prime Minister D M Jayaratne […]

Dec 09, 2011 (LBO) – Sri Lanka has reached a highest ever foreign direct investment volume of a billion US dollars by November 2011, deputy economic development minister Lakshman Yapa Abeywardene said. “This includes state land sales,” minister Abeywardene said. “Land purchases are an integral part of an investment project. By November 2011 we have […]

Dec 08, 2011 (LBO) – Sri Lanka’s Prime Minister D M Jayaratne had asked for a complete ban on fruit imports and asked for the price of wheat flour to be increased to a level people “could not afford”, a media report said. Farmers in countries like Pakistan produce better quality fruits than in Sri […]

Dec 07, 2011 (LBO) – The British High Commission has launched a fast track visa pilot scheme for 20 selected companies in Sri Lanka which do regular business with the United Kingdom. Thomas Greig, Regional Director of the UK Border Agency said the UK Border Agency and UK Trade and Investment are working together to […]

Dec 07, 2011 (LBO) – Sri Lanka’s state-run water supply agency has found about 15,000 suspected points where water is stolen in the island’s capital Colombo where 48 percent of the supplied water brings no revenue, an official said. About 30 percent of Sri Lanka’s Water Supply and Drainage Board is ‘non-revenue’ water but in […]

Dec 06, 2011 (LBO) – Standard and Poor’s has placed 15 Eurozone nations on negative credit watch indicating that they have a 50 percent chance of a downgrade. “In our view, systemic stress in the eurozone has risen in recent weeks and reached such a level that a review of all eurozone sovereign ratings is […]

Dec 06, 2011 (LBO) – Sri Lankan institutions, companies and individuals who helped promote commerce, especially during the war years, are to be recognised by the ‘Global Commerce Excellence’ awards. The awards, to be held on December 13, 2011, are organised by the state-run Export Development Board and Sri Lanka Ports Authority, and the central […]