Tag: economy

Oct 20, 2011 (LBO) – Sri Lanka has become an easier place to do business rising nine places to 89 over the past year in a global ‘doing business’ ranking published by the World Bank and International Finance Corporation. “…Sri Lanka implemented the most reforms of any of the eight economies in South Asia, helping […]

WASHINGTON, October 20, 2011 (AFP) – Frustrated by the moribund US recovery, a growing number of economists are pushing the Federal Reserve to adopt an explicit growth target, the most radical shift in central bank strategy in decades. In the world of economics an insurgency is raging amid worries that the Fed’s multi-trillion-dollar efforts to […]

Oct 20, 2011 (LBO) – Sri Lanka will buy 210 steel bridges from UK’s for 35 million sterling pounds with financing from HSBC and state-run People’s Bank, minister Keheliya Rambukwelle said. The cabinet of ministers had approved the financing of the deal with 28. 22 million Sterling pounds from HSBC and 6.779 million pounds from […]

October 18, 2011 (AFP) – Sri Lanka on Tuesday announced it would raise defence spending by over five percent in 2012, more than two years after the government ended a decades-long ethnic conflict with Tamil rebels. President Mahinda Rajapakse, who is also finance minister, is due to unveil the full 2012 budget on November 21, […]

LONDON, October 16, 2011 (AFP) – Hundreds of protesters camped out in London, Frankfurt and Amsterdam on Sunday, with some vowing to settle in for the long term as part of their campaign against corporate greed and budget cuts. The three camps, each of them in the heart of the cities’ financial districts, sprang up […]

Oct 17, 2011 (LBO) – Anti-capitalist protests have spread to several European capitals from the US, with protestors converging on financial districts, in a text book style consequence of excessive state interference, long predicted by Austrian economists. The US in particular is suffering from the collapse of a massive credit expansion fired by easy money […]

Oct 14, 2011 (LBO) – Work on a ‘linear park’ for recreation and night life bordering Beira Lake in Sri Lanka’s capital Colombo will begin early in 2012, a senior urban development official said. Its own building which was housed in the area would be made available for development as a 12-acre block after shifting […]

Oct 14, 2011 (LBO) – Sri Lanka and Vietnam can expand trade and investment in petroleum, telecoms, agricultural machinery and fisheries, visiting Vietnam President Truong Tan Sang told a business forum in Colombo. Sri Lanka’s state-run Ceylon Petroleum Corporation also signed a deal on diesel trade with PetroVietnam’s Singapore arm. President Sang said bilateral meetings […]

Oct 14, 2011 (LBO) – Sri Lanka plans to spend 1,640 billion rupees in capital and current expenditure in 2012 up 15.5 percent from a year earlier, preliminary data released by the finance ministry showed. It leaves the state with a deficit of 525 billion rupees. However government spokesmen had said earlier that in 2012 […]

Oct 12, 2011 (LBO) – Sri Lanka’s Urban Development Authority which was focussing on the capital Colombo will offer state lands in former war-zones for commercial development, director general Rohan Fernando said. “Now we are making arrangements to provide lands from Mankulam, Kilinochchi and Jaffna,” he told a forum on property development at the Central […]

Oct 12, 2011 (LBO) – Vietnam President Truong Tan Sang will begin a three day-state visit Thursday which will see economic and defence related bilateral accords being concluded, Sri Lanka’s foreign ministry said. On Friday Sri Lanka President Rajapaksa will hold bilateral discussions with the Vietnamese President to explore opportunities to strengthen relations promote co-operation. […]

STOCKHOLM, (AFP) – US researchers Thomas Sargent and Christopher Sims won the 2011 Nobel Economics Prize on Monday for their work on macro-economics and government economic policymaking, the Nobel jury said. This year’s laureates “have developed methods for answering … questions regarding the causal relationship between economic policy and different macro-economic variables, such as GDP, […]