Tag: economy

Apr 07, 2011 (LBO) – The Asian Development Bank would finance Sri Lanka with about 300 million dollars annually over the next few years, with roads, water supply and sanitation getting attention, officials said. In the past three years Sri Lanka had got nearly a billion dollars of Asia Development Financing, with a peak of […]

Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]

Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]

Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]

Apr 05, 2011 (LBO) – The International Monetary Fund has given Sri Lanka 218. 3 million dollars under its 2.5 billion US dollar program but called on the Central Bank to tighten liquidity management to prevent further inflation. Authorities expect Sri Lanka to generate less inflation after April. Sri Lanka is also expected to change […]

Apr 05, 2011 (LBO) – Sri Lanka’s requirement for targets under an International Monetary Fund was “waived” because data was not available in time and not because they were missed, an official said. IMF’s Colombo representative Koshy Mathai said the lender gave the latest tranche despite the data not being available all the indications pointed […]

Apr 04, 2011 (LBO) – A Dutch expert will lead an annual forum on disaster risk organized by LirneAsia, a regional policy research body that has been active on improving dam safety policies in Sri Lanka which is an island dotted with thousands of reservoirs. LirneAsia says Sri Lanka has 12,000 small dams and 350 […]

SINGAPORE, April 4, 2011 (AFP) – The euro strengthened against the dollar in Asia on Monday as investors moved into the single currency before an expected interest rate hike by the region’s central bank, analysts said. The euro bought $1.4227 in afternoon Asian trade, up from . 4225 late Friday in New York. It changed […]

Apr 04, 2011 (LBO) – Incentives given for new private universities will be open to all qualified parties and is not limited to foreign universities, Sri Lanka’s higher education ministry secretary Sunil Nawaratne said. “If you are not in the government you are eligible,” Nawaratne told a forum of state and private educators called together […]

Apr 04, 2011 (LBO) – Sri Lanka’s foreign reserves were flat at 6. 7 billion US dollars in February 2011, helped by a 200 million dollar injection form the International Monetary Fund, though reserves measured in months of imports have fallen slightly. By February reserves measured in terms of imports had come down to 5.8 […]

Apr 02, 2011 (LBO) – Sri Lanka’s inflation has started to pull ahead of dollar pegged Asia with consumer prices in March rising 8.6 percent from a year earlier, despite a fall in food prices as non-food prices inflated. In the month of March the food portion of Sri Lanka’s Colombo Consumers’ Price index fell […]

Mar 31, 2011 (LBO) – Thirteen companies and representatives from two universities from Northern Ireland will visit Sri Lanka on a business mission from April 2-5, the British High Commission said. Most of the members of the Invest Northern Ireland delegation are new to Sri Lanka and are keen to develop long-term relationships in their […]