Economy

Sri Lanka contracts to China queried by legislator

Jan 27, 2012 (LBO) - A series of construction contracts given to Chinese firms mostly with borrowed money from China which will have to re-paid by Sri Lanka, …

Sri Lanka needs to grow food to stabilize exchange rate: Treasury secretary

Jan 26, 2012 (LBO) - Sri Lanka has to grow more food to reduce imports which will help strengthen the exchange rate, Treasury Secretary P B Jayasundera said, …

Sri Lanka must not intervene excessively to maintain peg: economic minister

Jan 26, 2012 (LBO) - Sri Lanka should not intervene excessively to maintain a peg with the US dollar, economic development minister Basil Rajapaksa said as …

Sri Lanka in talks with Qatar for toll expressway, resorts: economic minister

Jan 26, 2012 (LBO) - The State of Qatar is in talks with Sri Lanka to build a toll expressway from the island's main international airport to the northwestern …

Sri Lanka mulls special passports for business people

Jan 26, 2012 (LBO) - A Sri Lankan business chamber is negotiating with immigration authorities to secure special passports for business people to help them cut …

IMF cuts growth global forecast, Euro negative

Jan 25, 2012 (LBO) - The International Monetary Fund cut the forecast for world growth as a series of 'stimulus' measures by deficit spending failed, worsening …

Sri Lanka’s Galle literary festival closes

Jan 23, 2012 (LBO) – Curtains came down on the five-day long Galle Literary Festival on Sunday with discussions on obsessive love, war and Indira Gandhi …

Sri Lanka to discourage raw commodity exports

Jan 20, 2012 (LBO) - Sri Lanka's decision to raise taxes on exports in raw form and reduce those for raw material imports is to encourage local manufacture and …

Sri Lanka at risk from global slowdown: World Bank

Jan 19, 2012 (LBO) - Sri Lanka's post-war economic rebound is slowing and financial problems in key Western markets could reduce demand for the island's …

Sri Lanka in deals with Qatar sovereign fund, real estate unit

Jan 18, 2012 (LBO) - Sri Lanka has signed co-operation deals with Qatar Holdings LLC, a sovereign wealth fund and its wholly owned real property unit following …

Sri Lanka, India fisheries talks soft on poaching

Jan 15, 2012 (LBO) - Talks between India and Sri Lanka on fisheries have ended with no deal on firm action to stop poaching by south Indian fishermen in the …

Sri Lanka expects most FDI for infrastructure in 2012

Jan 13, 2012 (LBO) - Sri Lanka is expecting most of the two billion US dollars of foreign direct investment targeted for 2012 to flow into infrastructure with …

Sri Lanka to expand food stamps to former war zones

Jan 13, 2012 (LBO) - Sri Lanka will expand a food stamp scheme to former war zones in the east adding an estimated 100,000 families to 1. online pharmacy buy …

India to rebuild 49,000 houses in Sri Lanka with US$260mn grant

Jan 12, 2012 (LBO) - India will help rebuild 49,000 houses of war refugees and estate workers in Sri Lanka with a 260 million US dollar grant, information …

Sri Lanka policy rates steady, market rates up

Jan 11, 2012 (LBO) - Sri Lanka's main policy interest rate at which cash is injected to the market will remain at 8.50 percent but an increase in market rates …

Sri Lanka expressway has upped hotel occupancy: minister

Jan 11, 2012 (LBO) - Occupancy at hotels in the southern part of Sri Lanka had increased after a new expressway cut travel time to the area, deputy economic …

Sri Lanka pension fund should publish annual report: legislator

Jan 06, 2012 (LBO) - Sri Lanka's main opposition has called for the immediate publication an annual report of the island's largest pension fund also questioned …

Sri Lanka gold imports surge to U$600mn in 2011

Jan 05, 2012 (LBO) - Sri Lankans have spent a record 600 million dollars of gold in 2011 up more than seven times from the 82 million US dollars a year, the …

Sri Lanka village producers helped by Japanese volunteers

Jan 05, 2012 (LBO) - A team of Japanese volunteers had helped village level producers to develop new products and upgrade designs to get higher prices, the …

Sri Lanka vulnerable to external risk, needs reforms: Moody’s

Jan 04, 2012 (LBO) - Sri Lanka is still vulnerable to external shocks given, lower than expected year-end foreign exchange reserves and needs lasting reforms …