Tag: Sri Lanka
Sri Lanka exports up 16.7-pct in September, trade gap widens
Dec 01, 2010 (LBO) – Sri Lanka’s exports rose 16.7 percent to 662.9 million US dollars in September 2010, helped by higher commodity prices and a surge in apparel exports while imports grew at a faster 35.9 percent widening the trade gap, Central Bank data showed. “While earnings from garment exports to the EU increased […]
Sri Lanka property project resumed by Shing Kwan
Dec 01, 2010 (LBO) – The Singapore-based Shing Kwan group has re-activated its big Havelock City residential and commercial property project in Sri Lanka with plans to build 800 more apartments, its chairman S P Tao said. “The nature and scale of development would be similar to those in Hong Kong and Singapore,” Tao said. […]
Sri Lanka inflation accelerates to 7.0-pct in November
Nov 30, 2010 (LBO) – Sri Lanka’s inflation in November 2010 rose 7. 0 percent from a year earlier up from 6. 6 percent in October amid a pick-up in credit growth with prices rising 1. 1 percent during the month. The clothing and footwear subcategory rose 1.7 percent in November and was up 9.4 […]
Sri Lanka approves budget with huge majority
November 29, 2010 (AFP) – Sri Lanka’s parliament approved the country’s first fully-fledged post-war budget on Monday with a two-thirds majority, officials said. Rajapakse, who has a strong grip on power in Sri Lanka after overseeing the defeat of Tamil Tiger rebels in May last year, raised taxes on casinos, alcohol and international phone calls. […]
Sri Lanka, India talks on sharing offshore oil, maritime border
Nov 27, 2010 (LBO) – India and Sri Lanka are to hold talks soon on sharing offshore petroleum resources straddling their maritime boundary and resolving conflicting claims to the continental shelf, an official said. A meeting of officials of the two neighbours is to be convened “at an early date”, said a statement at the […]
India shrugs off Chinese influence in Sri Lanka
November 26, 2010 (AFP) – India has no worries about rival China’s expanding ties with Sri Lanka, India’s foreign minister said on Friday, a week after Colombo unveiled a 1. 5-billion-dollar Chinese-funded port. S.M. Krishna, who met Sri Lankan President Mahinda Rajapakse earlier in the day, said Colombo’s ties with Beijing and other capitals would […]
‘s former war zone
November 27, 2010 (AFP) – India’s foreign minister visited Sri Lanka’s former war zone on Saturday after urging Colombo to share political power with minority Tamils following last year’s end to the ethnic conflict. Analysts have said New Delhi is concerned that a new port funded by Beijing is part of a Chinese policy to […]
Sri Lanka, India free trade talks to resume in December
Nov 26, 2010 (LBO) – India and Sri Lanka are to resume talks in December 2010 on a Comprehensive Economic Partnership Agreement (CEPA) that had been stalled by protectionist lobbies on the island. “A delegation from the Ministry of Commerce and Industry of India would visit Sri Lanka on mutually convenient dates in December 2010 […]
Sri Lanka economic data integrity under fire
Nov 26, 2010 (LBO) – A Sri Lankan economist who is also a lawmaker has queried apparent contradictions in the island’s poverty and consumption data, adding to an ongoing debate on the integrity of the country’s economic statistics. Harsha de Silva, representing Sri Lanka’s main opposition United National Party, said a budget speech had claimed […]
Sri Lanka budget 2011 for stability, knowledge economy
Nov 25, 2010 (LBO) – Sri Lanka’s 2011 budget has been made to keep the economy stable allowing monetary policy to maintain low inflation and also speed the country towards a knowledge economy, Treasury Secretary P B Jayasundera said. “This entire fiscal strategy is to bring stability in macro terms,” he told a seminar organized […]
‘s level
Nov 25, 2010 (LBO) – Sri Lanka’s tea production in October 2010 was 26.6 million kilos, almost the same as a year ago but the crop in the 10 months period was much higher, the Tea Board said. Low growns, which make up more than half the crop, rose 4.9 percent to 17.5 million kilos […]
Indian FM in Sri Lanka amid growing Chinese influence
November 25, 2010 (AFP) – Indian Foreign Minister S. M. Krishna was due in Sri Lanka Thursday to shore up bilateral relations amid growing Chinese influence on the island. Krishna is due to call on President Mahinda Rajapakse and also open two Indian consulates in the southern and northernmost parts of the island before leaving […]