AFP, COLOMBO: Sri Lanka’s new government plans to borrow up to $2.0 billion from overseas, the finance minister said Thursday, just two weeks after raising a billion through its first international bond issue. Minister Ravi Karunanayake said the government was seeking at least $1.0 billion with…

Xinhua, YANGON: Myanmar’s Investment Commission has allowed 15 more domestic and foreign firms to operate so far this month, an official report said yeterdayday. In the form of locally owned, wholly-foreign owned or joint venture, the approved businesses involve manufacturing, construction, real…

AFP, BERLIN: German Chan-cellor Angela Merkel yesterday said a strong euro would make it more difficult for eurozone countries to enjoy the benefits of the structural reforms they have pushed through. In the global economy, "a very strong" euro would make it difficult for countries such as…

AFP,  BEIJING: Growth in China’s industrial production hit a three-month high in May, figures showed Thursday, while expansion in retail sales rebounded from a nine-year low in cautiously positive signs for the world’s second-largest economy. Industrial output, which measures output…

AFP, LONDON: Oil prices dropped Thursday as the International Energy Agency predicted that a recent surge in world crude demand was set to end. US benchmark…

AFP, NEW YORK: Moves in the US to lift minimum wages will hit restaurant company profits because of the difficulty in passing the costs on to consumers, a Moody’s report said Thursday. The report estimated US restaurants could see their profit margins cut by 1-4 per cent, depending on their exposure…

AFP, TOKYO: US and Japanese central bank meetings will be among the key trading cues for Tokyo investors next week, as they looks for hints of future policy moves on both sides of the Pacific. The Federal Reserve’s comments will be pored over for clues about its plans are for raising interest…

AFP, ATHENS: Greece yesterday said it needed to clinch a deal with its EU-IMF creditors by June 18 to avert a default on its debt, as pressure mounts…

AP/UNB ,York Township: The timing isn't perfect, but Toyota is getting close to rolling out the next generation of its Prius gas-electric hybrid car. Low gas prices have depressed sales of hybrids, with Prius sales falling 14 percent in the first five months of this year. The U.S. government expects…

Xinhua, GENEVA: The International Labor Organisation’s (ILO) World of Work Summit, held on Thursday  in Geneva, explored the implications of climate change for workers, enterprises and communities across the world. Invited speaker French President Francois Hollande said that the “struggle…

Xinhua, JOHANNESBURG: The Africa Union (AU) is mooting the idea to adopt a single currency as part of the Agenda 2063 roadmap worked out by the organisation, Anthony Mothae Maruping, AU commissioner for Economic Affairs, said on Thursday. The aim is to connect Africa through world class infrastructure,…

Share price indices at the country’s premier bourse, Dhaka Stock Exchange (DSE), plunged in the last week losing 76.29 points with an average turnover…

Developing countries face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adopt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth this year, says the World Bank…

The government is planning to take up 13 development projects, aiming to achieve the target of producing 45.52 metric tons of fish at the end of 2021,…