Tag: economy

July 4, 2011 (LBO) – Sri Lanka will manage macro-economic policy prudently on its own after an International Monetary Fund deal ends in December, Central Bank Governor Nivard Cabraal said. Coomaraswamy said Sri Lanka has had a history of deficit spending and high inflation over the past 30 years and a seal of approval by […]

July 4, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, had approved 4.0 billion dollars of local and foreign investments in 28 projects in the first half of 2011, its acting chairman A M C Kulasekera said. Among known large projects in the pipeline are two hotel and shopping complexes […]

BEIJING, July 3, 2011 (AFP) – Migrant worker Yue Yaowei has lived in Beijing for six years but is not recognised as a resident of the Chinese capital — and so cannot get health insurance, buy a car or purchase a house. “I am under big pressure here,” Yue, 24, told AFP at a duck […]

July 1, 2011 (LBO) – Sri Lanka should expand trade links with Asia, especially with fast growing economies of India and China, at a time when consumption in industrialized nations is weak, an International Monetary Fund official said. Trade among East Asian nations have grown fast partly due to their integration with global supply chains […]

July 01, 2011 (LBO) – Sri Lanka’s economy grew 7. 9 percent in the first quarter of 2011, up from 7. 1 percent in the same period a year ago, with strong growth in industry and services while the agriculture sector contracted. Economic growth has been picking up with the end of the island’s 30-year […]

June 30, 2011 (LBO) – Sri Lanka will take-over land in Hambantota in Southern Sri Lanka to build a new business and industrial city which will have housing, hotels, a theatre, schools, beach parks and, the government’s information office said. Sri Lanka’s cabinet of ministers had given the nod to give Urban Development Authority (UDA) […]

June 30, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.1 percent by June 2011, down from 8. 2 percent in May, with prices falling 0. 2 percent during the month, the government’s statistics office said. The food category fell 1.0 percent during the month, but all other categories rose or were […]

June 29, 2011 (LBO) – Talented young Sri Lankan public officials are to be sent to Japan for two-year Masters Degrees under Japanese government scholarships, an embassy statement said. So far over 11,000 Sri Lankan trainees have completed short and long-term training in Japan and in third countries through Japan’s assistance. Japan has given 208 […]

CHONGQING, June 26, 2011 (AFP) – A forest of buildings and cranes rises through thick fog above roads jammed with cars in a Chinese city the size of Austria and home to more than 32 million people. The southwestern megacity of Chongqing is bursting at the seams as authorities struggle to keep pace with its […]

June 24, 2011 (LBO) – Sri Lanka has asked parliament permission to increase the money allocated for defence expenses for 2011 by 20 billion rupees to build a new headquarters for the military, a media report said. Some military facilities on prime land in Sri Lanka’s capital Colombo had been cleared for commercial development with […]

June 24, 2011 (LBO) – An economic forum next month organized by Sri Lanka’s largest business chamber hopes to come up with initiatives to boost actual investments and growth after the end of a 30-year war, officials said. Set on a theme of ‘Driving growth through fast track implementation’ this years’ two day forum will […]

June 23, 2011 (LBO) – China Development Bank Corporation has agreed to finance infrastructure projects in Sri Lanka amounting 1.5 billion US dollars over the next three years, minister Anura Yapa said. China is becoming a key financier of Sri Lanka displacing traditional donors, Japan and the Asian Development Bank. “The financial assistance will be […]