Sri Lanka has moved up five positions to rank 68th in a global index of the world’s most competitive economies for the year 2015-16.

Switzerland topped the table for the seventh consecutive year.

The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies.

According to the Global Competitiveness Report of 2014/15 Sri Lanka secured 73rd position out of 144 countries.

Emerging and developing Asia has been the world’s fastest-growing region since 2005 and looks set to retain this status in the medium term.

The report stated the region now accounts for some 30 percent of global GDP, with China alone accounting for 16 percent.

In South Asia, India leads the way at 55th, followed by Sri Lanka at 68th, Nepal at 100th, Bhutan at 105th, Bangladesh at 107th and Pakistan at 126th.

• MP Shantha Sisira Kumara further remanded
• Leave of postal employees cancelled for Presidential election
• 2 arrested in connection to a shooting in Hanwella
• Auditor General to investigate misuse of State resources for election activities
• Jaffna International Airport declared open