Tag: Sri Lanka

Mar 20, 2014 (LBO) – Sri Lanka has released a breakdown of foreign assets and gold holdings in official forex reserves for November 2013 as well as liabilities involving swaps and other payments.Foreign currency liabilities involving forex swaps and official loans due for repayment were also given on the liabilities side. For the next year […]

Mar 18, 2014 (LBO) – Sri Lanka’s lubricant market is estimated to have stagnated or contracted further in 2013, on top of a decline in 2012, Chevron’s unit in the island said while cautioning against state attempts to expand trade freedoms of the people. Anti-Competitive The firm spoke out against state moves to relax a […]

WASHINGTON, March 17, 2014 (AFP) – Moody’s lowered its credit rating for Argentina by one step Monday, citing a sharp fall in the country’s reserves and inconsistent economic policies.The fresh blow to the country came as Buenos Aires reported that prices rose 3.4 percent in February over January, taking the annual inflation pace to more […]

Mar 17, 2014 (LBO – A 10 million US dollar warehouse and logistics centre will be set up in Sri Lanka by Glowbal Outlet Stores, a firm founded by Canadians of Lebanese origin, the state investment promotion agency said.Ramzey Hammound president of Glowbal Outlets and Board of Investment of Sri Lanka chairman Lakshman Jayaweera had […]

Mar 17, 2014 (LBO) – Sri Lanka’s gross domestic product grew 7.3 percent in 2013 with the economy estimated to have grown 8.2 percent in the fourth quarter from a year earlier, the state statistics office said. For the full year, agriculture grew 4.7 percent, industry 9.9 percent and services 6.4 percent. Sri Lanka is […]

Mar 14, 2014 (LBO) – Unsolicited deals and awarding massive state contracts without competitive bidding has become the norm in Sri Lanka paving the way for corruption and inflated costs for the tax payer, legislators have charged.The constitution along with one in 1972 is also blamed for destroying the country’s independent public service headed by […]

Mar 13, 2014 (LBO) – Sri Lanka has approved 3.6 billion US dollar equivalent in investment projects in 2013 including 1.3 billion US dollars from domestic investors, an official said. “Last year we have signed agreements worth about 2.3 billion US dollars (from investors) and on top of that we also signed 1.3 billon US […]

Mar 13, 2014 (LBO) – Sri Lanka’s Ceylon Tobacco Company, a unit of British American Tobacco said it was eyeing e-cigarettes as fears are rising in many countries of children being drawn into smoking through the product. Last week Los Angeles passed a law to ban the product where smoking is banned. “I am most […]

Mar 12, 2014 (LBO) – Sri Lanka has a potential gross domestic product growth of about 6.75 percent a year after the end of a civil war and near term moderate growth may help keep the economy stable, an International Monetary Fund Study has suggested. Proponents of the so-called ‘output gap’ believe that an economy […]

Mar 10, 2014 (LBO) – Sri Lanka is no longer “uncomfortable” with the blot of high inflation in its economic record when meeting international agencies and visiting businessmen, a top official said.“We no longer feel uncomfortable to speak to the International Monetary Fund, the World Bank, the international rating agencies, the international business community, all […]