Tag: Finance

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, […]

WASHINGTON, 2011 (AFP) – Christopher Sims and Thomas Sargent are friendly rivals whose careers have tracked each other’s from the time they were Harvard doctoral students to Monday’s announcement that they had both won the 2011 Nobel Economics Prize. As it happened, Sims and Sargent, both 68, were teaching a class together at Princeton University […]

Oct 10, 2011 (LBO) – Sri Lanka will continue its current monetary stance with inflation expected to moderate, Deputy Central Bank Governor Dharma Dheerasinghe has said, though a signal rate edged higher with new policy tools being deployed. Sri Lanka’s 12-month inflation fell to 6.4 percent in September from 7.0 percent in August. Inflation was […]

LONDON, October 7, 2011 (AFP) – Britain’s defence minister Liam Fox ordered an inquiry Friday into the role of a friend and self-styled adviser after claims that he influences government business despite having no official role. Fox said the “wild allegations” would be probed after confirming that he met Adam Werritty on an official visit […]

Oct 07, 2011 (LBO) – Sri Lanka’s equity markets would see a positive inflow by the end of the year as better pricing attracts investors, deputy Central Bank governor Dharma Dheerasinghe said. So far this year Sri Lanka’s equity markets have seen a net outflow of 150 million dollars. “By the end of the year […]

Oct 07, 2011 (LBO) – The Employers’ Federation of Ceylon, which represents Sri Lankan companies, plans to extend its services to businesses outside the capital by tying up with business chambers in the island’s outlying regions. The EFC has signed agreements with the Yarlpanam Chamber of Commerce and Industries in northern Jaffna and the southern […]

Oct 07, 2011 (LBO) – Sri Lanka should avoid the mistake of destroying historical buildings when cities are modernized and demand for land and real estate rises, a Singapore-based academic told a forum in Colombo. Separately an advisory board to the National Museum has written to the president saying that the boundary wall has been […]