Tag: lankabusinessonline
Sri Lanka inflation accelerates to 7.8-pct in February 2011
Feb 28, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to 7.8 percent in the 12-months to February from a year earlier, up from 6. 9 percent in January the government’s statistics office said. Prices rose 1.2 percent in the month of February alone continuing a trend seen in September. In September […]
Sri Lanka loan plan to be revamped fast: World Bank
Feb 28, 2011 (LBO) – Sri Lanka’s World Bank office will accelerate its current programs start working on a new loan plan that will involve larger projects in fewer sectors at more market based rates, an official said. Elements of the current program dates back from before the end of a 30-year war in 2009. […]
Sri Lanka among Asian countries struggling with capital inflows: IMF official
Feb 26, 2011 (LBO) – Sri Lanka is among Asian nations struggling with capital inflows driven by excessive money printed in advanced nations, raising the risks of high inflation and asset booms, a senior International Monetary Fund official said. “Sri Lanka is one country that has faced a surge in capital flows,” IMF deputy managing […]
Sri Lanka joins chorus against Fed QE2
Feb 25, 2011 (LBO) – Sri Lanka joined the chorus of developing nations voicing concerns about the negative effects of Federal Reserve’s latest money printing exercise known as ‘quantity easing’ at an Asian monetary forum newly backed by China. Ultra loose US monetary policy has flooded developing countries that are pegged to the US dollar […]
Thousands of migrants flee Libya into Tunisia: agency
GENEVA, February 23, 2011 (AFP) – Several thousand foreign migrants from Libya have crossed the Tunisian border in the first major exodus to Tunisia since the Libyan turmoil began, the International Organisation for Migration said on Wednesday. The UNHCR was locating possible sites for camps in case larger numbers arrive. Fleeing migrants said they had […]
Sri Lanka seeks to rescue stranded nationals in Libya
Feb 24, 2011 (LBO) – Sri Lanka is seeking rescue by ship nationals stranded in Libya from where foreigners and migrant workers are fleeing the violence triggered by a public uprising against the government, a spokesman said. “We have despatched a ship,” media minister Keheliya Rambukwella told a news conference. AFP news agency reported that […]
Sri Lanka urged by World Bank to control trans fat content in food
Feb 24, 2011 (LBO) – The World Bank has urged Sri Lanka bring laws to encourage good food processing practices and control trans fats content in food in the fight against rising non-communicable diseases (NCD) like heart attacks. “The ministry of industries (might have to get involved) in decisions about taxes on high sugar products […]
Market Risk
HONG KONG, February 23, 2011 (AFP) – Asian stock markets fell further and oil remained high on Wednesday as the leader of major crude exporter Libya warned he would fight “to the last drop of my blood”. Gold opened at $1,397-$1,398.00 an ounce by the close in Hong Kong, up from Tuesday’s finish of $1,400.00-$1,401.00. […]
Sri Lanka looks to evacuate 1,200 in Libya as Asian nations pull out citizens
NEW DELHI, February 23, 2011 (AFP) – Asian nations on Wednesday prepared evacuation plans for more than 100,000 migrant workers trapped in Libya, many of them low-paid labourers toiling on construction sites. Arrangements to use passenger ships, planes and land routes to Egypt were being considered by governments as they try to secure their citizens’ […]
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Feb 21, 2011 (LBO) – A devaluation of Vietnam’s currency by 9.0 percent may increase bank bad loans, especially where dollar loans were given to customers with local currency revenues and hurt capital, Moody’s, a rating agency has said. A weaker dong increases prices throughout the economy, with internationally traded goods, whether imported or exported […]
US researchers hopeful for dengue vaccine
SAN JUAN, February 17, 2011 (AFP) – Promising advances have been made in the testing of possible vaccines to prevent the mosquito-borne dengue virus, which kills 25,000 people every year, researchers said Thursday. “There’s been tremendous progress,” he said. “There are a number of vaccines that are now in clinical trials and there’s now very […]
Sri Lanka set to meet budget deficit target: IMF
Feb 18, 2011 (LBO) – Sri Lanka’s government is likely to be able to meet the 2010 target for its budget deficit of eight percent of gross domestic product, a visiting International Monetary Fund official said. Brian Aitken, chief of the IMF review mission, said the island’s economic growth remained strong and there were no […]