Economy

IMF sees faster growth but recovery ‘still at risk’

JOHANNESBURG, 2011 (AFP) - The global economic recovery is gaining traction but is "still at risk" because of eurozone debt worries and a lack of financial …

Sri Lanka military HQ to make way for hotels

January 26, 2011 (AFP) - The Sri Lankan government said Wednesday it was relocating the defence ministry and main army headquarters in Colombo to make way for …

Sri Lanka budget on track; land sales to boost revenues in 2011

Jan 24, 2011 (LBO) - Sri Lanka is to raise up to 500 million US dollars from land sales in 2011, a top official has said as November data indicated that the …

Sri Lanka literary festival lose stars, India denies visa block

Jan 22, 2011 (LBO) - Organizers of Sri Lanka's Galle Literary Festival has defended its tradition of openness after two star writers pulled out of the event in …

Stars pull out of Sri Lanka book fair under pressure

JAIPUR, January 21, 2011 (AFP) - Nobel-winning Turkish author Orhan Pamuk and fellow writer Kiran Desai have pulled out of Sri Lanka's main literary festival, …

Sri Lanka Piramal Glass profits up five fold in Dec

Jan 21, 2010 (LBO) - Sri Lanka's Piramal Glass Ceylon, a unit of India's Piramal Glass said profits in the December 2010 quarter rose more than five fold to …

Sri Lanka Jaffna hospital upgraded by Japan

Jan 20, 2011 (LBO) - Sri Lanka's Jaffna hospital, the main state health facility in the former war torn northern peninsular is being upgraded with a 2. online …

UN seeks $51 million for Sri Lanka flood victims

January 19, 2011 (AFP) - The United Nations on Wednesday sought 51 million dollars to meet the urgent needs of more than one million people affected by recent …

Sri Lanka flood victims protest over food aid

January 18, 2011 (AFP) - Hundreds of flood victims in Sri Lanka besieged a district office in the eastern town of Kathankudi complaining about unfair …

Sri Lanka floods will not need a monetary response: CB Governor

Jan 18, 2011 (LBO) - Sri Lanka's recent floods will have minimal impact on long term inflation and will not need a monetary response but there will be 'some …

China calls currency system ‘product of the past’

WASHINGTON, January 16, 2011 (AFP) - China's President Hu Jintao said Sunday the international currency system was "a product of the past," but it would be a …

EU gives two mln euros in aid for Sri Lanka floods

BRUSSELS, January 14, 2011 (AFP) - The European Commission decided on Friday to release two million euros (. online pharmacy buy ciprodex with best prices …

Sri Lanka economic freedoms improve: think tank

Jan 14, 2011 (LBO) - Sri Lanka has improved its score in an economic freedom index for 2011 compiled by US based heritage foundation and the Wall Street …

Sri Lanka gets US$250mn from land sales to developers: minister

Jan 14, 2010 (LBO) - Sri Lanka is raising 250 million US dollars from the sale of two blocks of land to developers who will build hotels and shopping complexes …

Sri Lanka can loosen monetary policy amid fiscal tightening: economist

Jan 14, 2010 (LBO) - Sri Lanka could loosen monetary policy if it is balanced by tightening fiscal policy to manage inflation, a senior World Bank economist …

World Bank sees 2008 risks for global economy

WASHINGTON, January 13, 2011 (AFP) - The World Bank warned Wednesday the global economy could return to the dark days of the 2008 crisis, with slowing growth …

Sri Lanka cuts policy rates, amid lower deficit

Jan 11, 2010 (LBO) - Sri Lanka's central bank cut its policy rate at which excess cash is drained from the market 25 basis points to 7.0 percent, while …

Sri Lanka seeks to change inflation index as price pressure grows

Jan 06, 2011 (LBO) - Sri Lanka wants to change a price index again to reflect recent changes in consumption patterns although previous tinkering with the …

Sri Lanka BOP surplus in 2010 US$900mn

Jan 04, 2011 (LBO) - Sri Lanka expect to have had a balance of payments surplus of 900 million US dollars in 2010, Central Bank governor Nivard Cabraal said. …

Sri Lanka aims for 8.5% growth in 2011

Jan 04, 2011 (LBO) - Sri Lanka is aiming for economic growth of 8.5 percent in 2011 after growing eight percent in 2010 and expects growth to accelerate to …