Tag: Sri Lanka

Mar 30, 2012 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 5.5 percent in the 12 months to March 2012 up from 2.7 percent in February with the index growing 2. 2 percent in the month, statistics office data showed. Food prices remained stable with the foods index growing just 0. 1 percent […]

Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and […]

Mar 28, 2012 (LBO) – Greater co-operation between Sri Lanka and Vietnam will be examined in an economic forum on March 30, with the participation of economists and government officials Friday. After people’s property rights were improved and market prices were freed Vietnam became the world’s second largest rice exporter from being a net rice […]

Mar 28, 2012 (LBO) – Japan has given Sri Lanka a loan of 42 billion Yen (about 66 billion rupees) with the bulk of it meant for expanding the island’s sole international airport, a Japanese embassy statement said. “The loans under this scheme are offered on highly concessionary terms and conditions and are administered by […]

Mar 27, 2012 (LBO) – A top Japanese economist has warned Sri Lanka of continuing a ‘subsidy culture’ that could retard growth and also of letting slip opportunities for closer trade ties with neighbouring India. Shinji Asanuma, a professor in the school of international and public policy, Hitotsubashi University said Sri Lanka’s economic growth provided […]

Mar 26, 2012 (LBO) – Sri Lanka’s exports to Europe are growing despite recession there but its markets could be threatened by easier access given to competing export nations, an official said. Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka, said in 2011, Sri Lanka exported 3. 6 billion US dollars worth of […]

Mar 26, 2012 (LBO) – Sri Lanka’s exports fell 0. 6 percent to 917.7 million US dollars in January 2012 from a year earlier with a sharp drop in tea, while industrial exports grew at a sluggish 3. 3 percent, while imports powered ahead, official data showed. Exports Last year, Sri Lanka’s exports grew 22.4 […]

Mar 25, 2012 (LBO) – Proper economic management is the key to prosperity, not whether a country is resource-rich or poor, a top Japanese economist has told Sri Lanka. Price stability is also necessary for development and should be considered a priority by policymakers, said Hirohisa Kohama, professor in the faculty of international relations, the […]

Mar 22, 2012 (LBO) – Private sector credit growth and import demand in Sri Lanka is slowing down in response to recent policy tightening, with downward pressure on the rupee expected to ease, the central bank said. Foreign currency inflows to the country increased “substantially” in recent weeks and more was expected, as projected in […]

Mar 22, 2012 (LBO) – Sri Lanka’s rupee should stabilise below 125 to the US dollar once the initial adjustment to the currency’s float and seasonal demand work their way out of the system, Treasury secretary P B Jayasundera said. The rupee has fallen sharply against the dollar and other key international reserve currencies in […]