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Sri Lanka hikes renewable energy tariffs by over 20-pct
Oct 15, 2012 (LBO) – Sri Lanka has hiked purchase tariffs for most renewable energy fuels by over 20 percent with a flat 20-year rate for new mini-hydro plants built in 2013, up 28 percent amid steep currency depreciation, a tariff decision by the regulator showed. Sri Lanka’s Public Utilities Commission had used an exchange […]
Slovakia seeks business with Sri Lanka
Oct 15, 2012 (LBO) – Slovakia’s envoy to India Marian Tomasik will make a presentation on opportunities in his country to Sri Lankan business at the Ceylon Chamber of Commerce on October 17, the trade chamber said. Slovakia is a landlocked nation in Central Europe with a population of over five million and a gross […]
Sri Lanka agri firm in cash call, moves to FMCG
Oct 14, 2012 (LBO) – Coco Lanka Ltd, a food processing and exporting firm said it was making a billion rupees cash call on shareholders to move into fast moving consumer goods retailing and become a holding company. Directors have resolved that both deals “do not constitute major transactions as defined by section 185 of […]
Sri Lanka hikes prices of cement, poultry
Oct 14, 2012 (LBO) – Sri Lanka’s consumer affairs authority, which has imposed price controls on chicken and cement, has raised the prices of the items media reports said. Poultry which is under price control also has import protection. Sri Lanka’s cost of production of poultry is artificially high duty to import protection given to […]
Sri Lanka budget: nobody said deficit is too large: Treasury Secretary
Oct 13, 2012 (LBO) – Not a single representative of the public or business community that had met Sri Lanka’s President Mahinda Rajapaksa, who is also finance minister, ahead of next month’s budget said the deficit was too large, an official said. Critics say the ruling political elite of all hues, has successfully maintained a […]
Sri Lanka stocks closed up 0.30 pct
October 12, 2012 (LBO) – Sri Lanka stocks ended a streak of losses and closed up 0.30 percent Friday. Dialog Axiata PLC closed flat at 8.50 rupees. Index heavy John Keells Holdings PLC gained 1.90 rupees to close at 205.40 rupees up 0.93 percent. The Colombo All Share Index closed at 5,738.24 up 17.38 points […]
” hotel expects to open this month: official
Oct 12, 2012 (LBO) – Sri Lanka’s Uga Escapes leisure group will open a resort in the north eastern coast of Passikudah and the firm expects to sell a room at 250 to 300 US dollars a night, an official said. Sri Lanka is seeing a tourism boom after the end of a 30-year civil […]
Sri Lanka and India to strike nuke deal, accident response
Oct 12, 2012 (LBO) – Sri Lanka and India will move towards striking a comprehensive agreement on civil nuclear co-operation, a joint statement issued after the first discussions between the two countries on the issue said. At the first round of talks held in Delhi representative from foreign ministries of the two countries and the […]
Sri Lanka forestry program expanded by Australia
Oct 12, 2012 (LBO) – A community based program to increase forest cover in Sri Lanka’s dry zone and support small farmers has been launched by Australia and the United National Development Program. “Forests are a critical environmental and economic resource for Sri Lanka,” the Australian embassy in Colombo said in a statement. “During the […]
Sri Lanka and India appoints task force to promote trade
Oct 12, 2012 (LBO) – Sri Lanka and India is appointing a joint task force with representatives from the private and state sectors to boost trade and investment, information minister Keheliya Rambukwelle said. Sri Lanka has appointed Kulatunga Rajapaksa from Samson International, Susantha Ratnayake from John Keells Holdings and Ashrof Omar from Brandix as representative […]