Economy

Sri Lanka ‘comfortable’ with current rates, despite inflation, forex pressure

Mar 03, 2011 (LBO) - Sri Lanka is comfortable with current interest rates, Central Bank governor Nivard Cabraal said despite a spike in consumer prices to a …

Sri Lanka to revamp tax concessions for investors: minister

Mar 03, 2011 (LBO) - Sri Lanka's government is preparing new laws to speed up investment approvals with existing tax breaks by the investment promotion agency …

Sri Lanka coast guard beefs up surveillance with new boat

Mar 02, 2011 (LBO) - Sri Lanka's fledgling coast guard took delivery of a patrol craft built by the navy that will help combat poaching and human smuggling and …

Sri Lanka port to double bunker storage

Mar 01, 2011 (LBO) - The Sri Lanka Ports Authority (SLPA) said it is more than doubling bunker storage facilities in Colombo port to cater to an increasing …

Sri Lanka tea exporter to expand in Russia

Mar 01, 2011 (LBO) - Riston Group, a big Sri Lankan tea exporter to Russia, plans to expand production there with a new factory and also penetrate other …

Libya exodus ’emergency’ as Asian workers land in Malta

VALLETTA, February 28, 2011 (AFP) - The UN refugee agency said a "humanitarian emergency" was underway as thousands fled Libya over the weekend in a mass …

Sri Lanka inflation accelerates to 7.8-pct in February 2011

Feb 28, 2011 (LBO) - Consumer prices in Sri Lanka's capital Colombo accelerated to 7.8 percent in the 12-months to February from a year earlier, up from 6. …

Sri Lanka loan plan to be revamped fast: World Bank

Feb 28, 2011 (LBO) - Sri Lanka's World Bank office will accelerate its current programs start working on a new loan plan that will involve larger projects in …

Sri Lanka among Asian countries struggling with capital inflows: IMF official

Feb 26, 2011 (LBO) - Sri Lanka is among Asian nations struggling with capital inflows driven by excessive money printed in advanced nations, raising the risks …

Sri Lanka joins chorus against Fed QE2

Feb 25, 2011 (LBO) - Sri Lanka joined the chorus of developing nations voicing concerns about the negative effects of Federal Reserve's latest money printing …

Sri Lanka urged by World Bank to control trans fat content in food

Feb 24, 2011 (LBO) - The World Bank has urged Sri Lanka bring laws to encourage good food processing practices and control trans fats content in food in the …

Sri Lanka looks to evacuate 1,200 in Libya as Asian nations pull out citizens

NEW DELHI, February 23, 2011 (AFP) - Asian nations on Wednesday prepared evacuation plans for more than 100,000 migrant workers trapped in Libya, many of them …

Vietnam devaluation may hurt banks: Moody’s

Feb 21, 2011 (LBO) - A devaluation of Vietnam's currency by 9.0 percent may increase bank bad loans, especially where dollar loans were given to customers with …

US researchers hopeful for dengue vaccine

SAN JUAN, February 17, 2011 (AFP) - Promising advances have been made in the testing of possible vaccines to prevent the mosquito-borne dengue virus, which …

Sri Lanka set to meet budget deficit target: IMF

Feb 18, 2011 (LBO) - Sri Lanka's government is likely to be able to meet the 2010 target for its budget deficit of eight percent of gross domestic product, a …

Sri Lanka to keep original budget gap despite floods: IMF mission

Feb 18, 2011 (LBO) - Sri Lankan authorities want to keep the budget deficit target of 6. buy naprosyn online …

Sri Lanka north gets Japan, ADB grant for water

Feb 16, 2011 (LBO) - Sri Lanka's former war zones in the north of the island will get a two million dollar grant from Japan and the Asian Development Bank to …

Sri Lanka flood victims to get EU aid

Feb 15, 2011 (LBO) - Sri Lanka's flood victims, some of whom were recovering from a recent war will get 105 million rupees (700,000 euros) of food aid from the …

Japan’s economy shrinks in Q4 as China moves ahead

TOKYO, February 14, 2011 (AFP) - Japan ceded its spot as the world's second-biggest economy to China in 2010, as gross domestic product contracted in the …

Sri Lanka flood damage $600 mln

February 13, 2011 (AFP) - The damage from monsoon flooding in Sri Lanka over the last six weeks is estimated at 0 million, a government minister said Sunday …