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Emerging market central bankers want Fed to raise rates: report
Sept 10, 2015 (LBO) – Central bankers in emerging markets want the US Federal Reserve to increase interest rates sooner rather than later to end market uncertainty.Central bankers in Indonesia, Peru and Mexico have commented that a rate hike at the September 16-17 or October Fed meetings would be good for their economies.“We think US […]
Sri Lanka hoteliers cannot work in isolation, says Keells Deputy Chairman
Sep 10, 2015 (LBO) – Sri Lanka hoteliers alone cannot make the industry to grow but with collaboration we can, Ajit Gunewardene, deputy chairman of John Keells Holdings said. “Tourism is a massive industry and we have barely begun. Before we destroy what is great, we believe this is the time to create something unique […]
Reforms needed for better Sri Lanka female labor force participation: World Bank
Sep 10, 2015 (LBO) – Legal discrimination, which can affect female labor force participation, is prevalent in Sri Lanka, a new World Bank report says. “Women are prohibited from working in the mining sector and restricted from certain tasks/functions in factories,” the World Banks group’s Women, Business and the Law 2016 report, released Wednesday said. “Moreover, there […]
US Ambassador Atul Keshap visits Temple of the Tooth
U.S. Ambassador Atul Keshap made his first official visit outside of Colombo to Kandy today, visiting Sri Dalada Maligawa and paying his respects to the Most Venerable Galagama Sri Aththadassi Mahanayake Thero of the Asgiriya Chapter, Most Venerable Tibbatuwawe Sri Siddhartha Sumangala Mahanayake Thero of the Malwatta Chapter, and Most Venerable Napana Premasiri Mahanayake Thero […]
Rishad kick-starts third Lankan Industry & Commerce sprint
Sri Lanka is mulling a bigger role for private sector in the planned industry and commerce reforms-and Lankans of all hues are rallying round the leaders of the new consensual government, as declared on 09 September.“I look forward to an increased role and support of the Lankan business, exports and investment communities in our next […]
Sri Lanka appoints new State and Deputy Ministers
Sep 09, 2015 (LBO) – The swearing in ceremony of the new State and Deputy Ministers of the government held today at the Presidential Secretariat. New State and Deputy Ministers who took oaths before President Maithripala Sirisena are as follows. State Ministers 01 T.B. Ekanayake State Minister of Land 02 A.H.M. Fauzi State Minister of […]
Sri Lanka’s Hambantota port to be developed with dockyard facility
Sep 09, 2015 (LBO) – Sri Lanka’s Hambantota Port is to be developed with dockyard facilities at the port at an estimated cost of two billion rupees, media reports said.A Chinese company has responded positively to Ports and Shipping Minister Arjuna Ranatunga’s call for expression of interests from potential investors to build dockyard facilities at […]
Sri Lanka fruit exports up 51 pct, vegetables up 25 pct in 2014: CCC
Sep 09, 2015 (LBO) – Sri Lanka’s earnings from exports of fruits and vegetables during the year 2014 has increased compared to the previous year, the Ceylon Chamber of Commerce said. Referring to a study conducted by them, the chamber said earnings from fruit exports has seen the biggest jump, accounting for a 51 percent […]
Govt increases taxes on sugar and potatoes
Sep 09, 2015 (LBO) – Sri Lanka increased the import tax on potatoes by 10 rupees per kilogram and commodity levy of imported sugar by 12 rupees today. However controlled price remain unchanged at 95 rupees for packed sugar. Potato tax hike was driven by the domestically grown harvest that will come in to the […]
Sri Lanka stocks close up 0.8-pct; More retail activity
Sep 09, 2015 (LBO) – Sri Lankan stocks closed up 0.83 percent on Wednesday with index heavy and banking sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 58.79 points at 7,183.76 higher 0.83 percent. S&P SL20 closed 22.94 points lower at 3,937.55 up 0.59 percent. Turnover was 647 […]