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Sri Lanka inflation hits 11-year low COLOMBO: Sri Lanka's inflation hit an 11-year low in February on the back of drastic price reductions ordered by the new government, official figures showed Friday.The Colombo Consumer Price Index, the main measure of inflation in the island, increased by 0.6 percent in February, down from 3.2 percent in January and 4.2 percent a year ago.The previous low of 0.5 percent was recorded in January 2004.The new government of President Maithripala Sirisena, who came to power in January, reduced prices of essential food and sharply cut energy prices in line with an electoral pledge.Deputy Economic Development Minister Harsha de Silva told reporters earlier this week that the government expects inflation to remain low in Sri Lanka this year in line with a global trend.However, the government is also looking to a $4.0 billion bailout from the International Monetary Fund as it restructures expensive loans taken by the previous government.The IMF ...

EU panel casts doubt on Germany's proposed motorway toll BERLIN: A German plan to introduce a motorway toll next year aimed at foreign drivers would violate European Union laws, in the view of an EU Commission panel, a German magazine reported on Friday. The EU experts' analysis found that the toll would discriminate against foreign drivers because German motorists would be compensated with a reduction in car taxes. "It is clearly a contradiction to offer relief to all domestic motorists by exactly the same ...

Turkish foreign visitor arrivals rise 9.08pc in January ISTANBUL: The number of foreign visitors to Turkey rose 9.08 percent year-on-year in January to 1.25 million people, Tourism Ministry data showed on Friday. Out of all the foreign visitors, 55 percent entered the country through Istanbul. Copyright Reuters, 2015

Brazil loses 81,774 jobs in January, way more than expectations SAO PAULO: Factories, farms and services companies in Brazil shed a net 81,774 jobs in January, the labor ministry said on Friday, the latest evidence that the nation's once booming job market is rapidly losing steam. The number compared with a forecast of 20,000 net dismissals in a Reuters poll of analysts. Copyright Reuters, 2015

Poland seen cutting rates by 25 bps in March and in Q2 WARSAW: Poland is likely to cut interest rates by 25 basis points next week before delivering one more reduction in the second quarter to counter a long decline in consumer prices, a Reuters poll showed on Friday.Seventeen out of 25 economists polled from Feb. 25 to Feb. 27 expect the central bank's Monetary Policy Council (MPC) to cut the benchmark rate to a new record low of 1.75 percent when it meets on Tuesday and ...

German inflation bounces back in February: data FRANKFURT: Inflation in Germany, Europe's biggest economy, was back in positive territory in February with consumer prices rising by 0.1 percent, official data showed on Friday.The previous month, the consumer price index had fallen for the first time in five years, dropping by 0.4 percent as a result of lower energy prices. According to the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany remained ...

India in 'sweet spot', economy forecast to top 8pc growth NEW DELHI: India's economy is in a "sweet spot" and ready to grow by more than eight percent in the next financial year, an official report said Friday on the eve of the new right-wing government's first full-year budget.The India Economic Survey, an annual report prepared by the finance ministry, said growth would be between 8.1 and 8.5 percent in the 2015-16 financial year, reaching levels last seen five years earlier.The ministry said the data ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln