Economy

Sri Lanka’s US dependence falling, but global downturn may worsen

Mar 31, 2008 (LBO) – Falling dependence on the US economy will allow Sri Lanka to ride out a recession in that country, a top central banker said, amid …

Sri Lanka inflation not oil-related or ‘imported’: IMF study

Mar 28, 2008 (LBO) – Most of Sri Lanka's inflation is not 'imported' or caused by oil, a major new International Monetary Fund research study has found, …

Sri Lanka opens rice trade to import ‘deflation ‘and reduce prices

Mar 28, 2008 (LBO) – Sri Lanka has removed a special tax on rice and allowed any private trader to import rice, the information ministry said as the …

Sri Lanka’s high risk dams to be made safer

Mar 28, 2008 (LBO) – Sri Lanka is getting a 65.3 million US dollar credit from the World Bank to improve the safety at high risk dams and boost water …

Sri Lanka economy expands 6.8 percent in 2007

Mar 28, 2008 (LBO) – Sri Lanka's economy expanded 6.8 percent in 2007 against 7.7 percent in 2006, but in the fourth quarter growth accelerated to 7.6 …

Sri Lanka trade deficit doubles in January

Mar 27, 2008 (LBO) – Sri Lanka's trade deficit doubled to 610.8 million US dollars in January as a surge in oil and capital goods imports outpaced gains …

Sri Lanka needs changes to build knowledge economy: World Bank

March 26, 2008 (LBO) - Sri Lanka needs to improve access to broadband communications and the internet and reduce costs to become a 'knowledge economy', the …

Lessons for Sri Lanka from Malaysia’s Daim Zainuddin

Mar 22, 2008 (LBO) – Many East Asian Tiger economies like Malaysia are now famed for fiscal prudence, running surpluses on their current and overall …

Sri Lanka government credit down; concern over petro borrowing: central bank

Mar 19, 2008 (LBO) – Central Bank credit to Sri Lanka's government was down, money supply growth was falling but state enterprise borrowings was a …

Sri Lankan firms told tough conditions at home should not decide foreign expansion

Mar 19, 2008 (LBO) - A top Indian consultant says fledgling firms should deal with government regulations and difficult business conditions at home instead of …

Sri Lanka central bank is creating inflation: economist

Mar 17, 2008 (LBO) -- Sri Lanka's central bank is accountable for inflation and claims of 'cost push' factors for rising prices cannot be accepted when well …

Sri Lankan study sees politics, non-tariff barriers constraining South Asian trade

March 17, 2008 (LBO) – Politics and non-tariff barriers are likely to constrain trade among South Asian nations even if import tariffs are removed, a new …

Sri Lanka could gain more in next phase of trade liberalization: study

March 15, 2008 (LBO) – A new study on a south Asian regional trade deal has said Sri Lanka will gain more in the next phase of liberalisation but the …

Sri Lanka foreign reserves move to US$3.2bn

Mar 10, 2008 (LBO) – Sri Lanka's foreign reserves had increased to 3.4 billion dollars by March 06 with the monetary authority collecting 366 million …

Sri Lanka business should demand better governance not subsidies: senior executive

March 05, 2008 (LBO) -- A senior business executive urged Sri Lankan businesses not to ask for subsidies which were needed for a safety net for the poor that …

South Asia gets more FDI despite problems; political risk in Pakistan, Sri Lanka, Afghanistan

MANILA, Feb 29, 2008 (AFP) - Robust near-term economic growth should drive strong foreign direct investment flows into South Asia despite corruption, poor …

Sri Lanka inflation increases to 21.6 percent in February

Feb 29, 2008 (LBO) – Consumer prices in Sri Lanka's capital Colombo rose 21.6 percent in the 12-months to February from 20.8 percent, with the index …

Sri Lanka rupee reasonably stable: CB governor

Feb 27, 2008 (LBO) – The Sri Lanka rupee has been "reasonably stable", Central Bank Governor Nivard Cabraal said, as the currency held rock-steady …

Sri Lanka should overhaul monetary policy: economist

Feb 26, 2008 (LBO) -- Sri Lanka should overhaul its monetary framework in the light of 20 percent plus inflation as such high levels could only be generated …

Sri Lanka state workers demand trebling of festival allowance

Feb 25, 2008 (LBO) – Sri Lanka's powerful state worker unions have demanded a trebling of festival allowances as inflation tipped over 20 percent …