Tag: Sri Lanka

Sept 30, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 6. 4 percent in September from 7.0 percent in August, though the index itself gained 0.3 percent during the month, the state statistics office said. International commodity prices have eased in recent weeks. Food and non-alcoholic beverages rose 0. 1 percent […]

NEW YORK, September 28, 2011 (AFP) – Visa policies that keep skilled workers from settling in the United States amount to “national suicide,” New York Mayor Michael Bloomberg said Wednesday. “These businesses will hire American workers, and immigrants are more than twice as likely as those born in America to start a new company,” he […]

Sept 29, 2011 (LBO) – Sri Lanka will shift several prisons in prime city centres including the capital Colombo to make way for commercial development, minister Keheliya Rambukwelle said. Matara and Galle prisons will be shifted to Pitabeddara in the Matara district. The cabinet of ministers had approved a proposal by the prison reforms ministry […]

Sept 29, 2011 (LBO) – Sri Lanka had recorded a balance of payments surplus of 1,006 million US dollars by July 2011, with official foreign reserves climbing to 8,099 million US dollars, the Central Bank said. Foreign inflows to the state, including a billion dollar sovereign bond was 2,754 million US dollars and foreign direct […]

BERLIN, September 27, 2011 (AFP) – Germany told the United States Tuesday to stop pointing the finger at Europe for its own economic ills while debt-hit Greece promised to do its utmost to avert a financial meltdown in the eurozone. Elsewhere in the German capital, Greek Prime Minister George Papandreou insisted that Athens was pulling […]

Sept 27, 2011 (LBO) – Sri Lanka must ensure that rule of law is maintained especially in commerce if it wants to be considered attractive to foreign investors, an economist said. Indrajit Coomaraswamy, former director of economic affairs at the Commonwealth Secretariat in London, said foreign investment has not picked up as anticipated despite the […]

BERLIN, September 27, 2011 (AFP) – German Chancellor Angela Merkel hit back Tuesday at those, including the United States, urging Europe to introduce new economic stimulus packages to boost demand and spend its way out of the crisis. “We need to combine economic growth with solid public finances … we are not in favour of […]

BERLIN, September 25, 2011 (AFP) – The International Monetary Fund may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion, according to a newspaper report out Monday. German daily the Frankfurter Allgemeine Zeitung said two “models” were currently being examined to up the IMF’s resources, without stating its source. […]

Sept 26, 2011 (LBO) – Sri Lankan exporters face difficulties in trying to shift from traditional markets in the West which are stagnant or growing only slowly to fast-growing emerging markets in Asia, an official said. “It’s not going to be easy,” said Anura Ekanayake, former chairman of the Ceylon Chamber of Commerce, the island’s […]

Sept 25, 2011 (LBO) – Discussions are continuing with Sri Lanka on a periodic review under an International Monetary Fund bailout program which has supported the island’s policies aimed at restoring stability and growth, a top IMF official said. “We will continue these discussions for the coming review, while they (Sri Lanka’s delegation) are here […]