Tag: Finance

Hanoi, Mar 22, 2010 (LBO) – International support and policy advice on macro-economic management has helped Vietnam recover from a slowdown in 2009 and the country intended to use global links to cut poverty, officials said. Vietnam’s economy slumped in the fist part of 2009 but recovered later and the country was expected to record […]

HANOI, Mar 22, 2010 (LBO) – Sri Lanka is looking for more flexibility and backing from multilateral lenders as the country emerges from a war and a global crisis and is planning sustainable growth for the future, a top official said. IMF only lends money to the central bank to boost its reserves and budgetary […]

Mar 18, 2010 (LBO) – Sri Lanka held policy rates frozen in March as inflation accelerated, central bank financing of the budget deficit increased to new highs amid frantic attempts to mop excess liquidity. The International Monetary Fund has already suspended a deal after the 2009 budget deficit went off the rails to 10.3 percent […]

Mar 18, 2010 (LBO) – Sri Lanka is inviting investments for a high-rise complex proposed for prime land in the congested city that will be cleared of slums as part of an urban renewal project, officials said. The ‘Panchikawatte Triangle’ re-development project will provide 26 acres of land in the heart of the city for […]

BRUSSELS, March 16, 2010 (AFP) – The European Union wants to work with Colombo to avoid the withdrawal of Sri Lanka’s trade privileges with the bloc, under threat due to rights concerns, an official said Tuesday. “The Commission remains committed to work with Sri Lanka to see whether the conditions for a reversal” of a […]

Mar 17, 2010 (LBO) – Gold now makes up 10 percent of Sri Lanka’s foreign reserve assets after the country tripled its gold holdings with a purchase from the International Monetary Fund in 2009, industry data showed. The United States remained the largest gold holder with 8,133. 5 tonnes, Germany second with 3,406.8 tonnes and […]

Mar 17, 2010 (LBO) – Getting Sri Lanka a more favourable insurance risk rating involves not just the absence of war but other factors like media freedom and corporate governance, officials and analysts said. Altogether, 48 ‘risk factors’ are covered in Aegis’ rating model which also considers criminal risk like corruption, crime, law enforcement and […]

Mar 15, 2010 (LBO) – Sri Lanka state workers took away 57 cents as salaries and wages out of every tax rupee paid by the people in 2009, as the government continued to expand a bloated public service amid an economic slump, the latest official data showed. Salaries and pensions of workers climbed to 353 […]

Mar 14, 2010 (LBO) – A decision by the International Monetary Fund to suspend its program to Sri Lanka and a European Union decision to lift trade benefits have found wide support in a newspaper poll. A poll by the business news section of The Sunday Times, an influential weekly, found that 74 percent of […]

Mar 13, 2010 (LBO) – Sri Lanka has lifted taxes and levies on gold imports from to promote jewellery industries in the country, the central bank said. “The removal of all applicable import taxes and other levies on gold imports will reduce the gold prices in the market and contribute to promote gold and jewellery […]

Mar 12, 2010 (LBO) – Sri Lanka has to curb excessive state consumption, keep inflation low to encourage private savings, and improve governance to draw foreign capital to promote growth and incomes, a top economist has said. Higher savings were required to increase growth and achieve the targets of replicating the economic success of East […]

Mar 11, 2010 (LBO) – The Export Import Bank of India is giving Sri Lanka 67. 4 million US dollars in top funding in a project which will slash travel times along a coastal railway track, the finance ministry said. Rolling stock maintenance facilities will be built in Alutgama, Galle and Colombo. In 2008 India […]