Economy
`Inflation targeting could help developing world'
AS the inflation performance of inflation targeters among industrial countries appears ``promising'', inflation targeting as a monetary strategy could benefit developing countries by providing a coordination device for inflation expectations as well as a yardstick of accountability for central banks.

`Domestic competition vital for sustainable growth'
``STRONG commitment is required to make domestic investments competitive with regard to foreign direct investments (FDI) to match up to global competition, said Mr. Omar Abdullah, Minister of State for Industry and Commerce.

Foreign Trade
`Indo-Lanka FTA can help access new markets'
THE Indo-Sri Lanka free trade agreement presents an opportunity for India to access new markets, according to the Deputy Chairman, Sri Lanka-India Joint Economic Council, Mr. Mano Selvanathan.

Inflation Watch
Infation watch
THE annual rate of inflation measured in terms of the wholesale price index (WPI) on a point-to-point basis moved up to 6.03 per cent for the latest recorded week ended August 12. In the preceding week the inflation rate had declined sharply to 5.75 per cent from 6.40 per cent a week before. Thus, the inflation rate has once again crossed the six per cent mark during the latest week.

Telecommunications
$62-m IBRD loan for telecom project
THE Government has signed a $62-million loan agreement with the World Bank for funding its telecom sector reforms, according to a Government release.

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