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Coming Back
Aug 16, 2012 (LBO) – British airways will resume flights to Sri Lanka in March 2013 after a fifteen year absence in the island, the airline said in a statement. Visitors from Western Europe to the island rose 22 percent to 41,584 with UK generating most tourists at 13,643 up 13.7 percent from a year […]
Industry Support
Aug 16, 2012 (LBO)- Sri Lanka’s Information and Communication technology industry needs a strong eco system and branding strategy to support the development of the sector and to expand businesses globally, an Internet pioneer said. Highlighting the importance of young entrepreneurship Wang said, modern and small businesses are playing a key role in creating innovative […]
Give up terror tactics and report to work – Ranawaka
Aug 16, 2012 (LBO) – Sri Lanka’s power minister Patali Champika Ranawaka has urged CEB trade unions to give up disruptive terror tactics and report to work and resolve worker grievances through discussions, the ministry releasing a statement said. Ranawaka alleged that politically motivated CEB trade unions have disrupted the power supply in the Ampara […]
Sri Lanka expands diplomatic ties in Latin America
Aug 16, 2012 (LBO) – Sri Lanka will start diplomatic relations with 13 Latin American countries, cabinet spokesman Keheliya Rambukwella said. “Promotion of diplomatic relations in a wide scale in this region will be another step forward in Sri Lanka’s foreign policy,” a cabinet paper said. Diplomatic relations will be established with Guatemala, Belize, Nicaragua, […]
Sri Lanka one year Treasuries slightly up
Aug 15, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up slightly on longer maturities at Wednesday’s auction with the one year yield reaching 13. 23 percent up 05 basis points from a week earlier, data from the state debt office showed. The process does not create fresh demand to pressure the country’s dollar peg […]
Sri Lanka tourist arrivals up 8 pct in July
Aug 15, 2012 (LBO) – Tourist arrivals to Sri Lanka rose 7. 8 percent to 90,338 in July 2012 from a year earlier, with arrivals up to July rising 16.7 percent to 543,205, data from the state tourism promotion office showed. In the first seven months of 2012, the top generating market was India, with […]
Quit Report
Aug 15, 2012 (LBO) – The head of Sri Lanka’s Securities and Exchange Commission is expected to quit this week amid pressure from investors who were being probed for malpractices, a media report said. “I’ll be doing it (quitting) within the course of this week definitely. Definitely before Friday,” SEC chairman Tilak Karunaratne was quoted […]
Sri Lanka extends power cuts as efforts to restore power plant fails
Aug 15, 2012 (LBO) – Sri Lanka has extended the time duration of power cuts to three hours and twenty minutes starting Thursday until a faulty Chinese built coal power plant is fully restored, the ministry of power and energy releasing a statement said. Ekala, Sapugaskanda, Angoda, Thalangama, Koswatta, Weyangoda, Nittambuwa, Yakkala, Malabe road, Athurugiriya, […]
Sri Lanka stocks close up 1.27 pct
Aug 14, 2012 (LBO) – Sri Lanka’s stocks ended a seven day losing streak and closed up 1.27 percent Tuesday with large cap stocks trading on higher prices, brokers said. John Keells Holdings gained 9.30 rupees to close at 190.00 rupees up 5.01percent. Aitken Spence Plc slipped 1.70 rupees to 108.30 down 1.55 percent. AVIVA […]
Bank Net
Aug 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon reported profits of 2. 469 billion rupees for the June 2012 quarter up 25 percent from a year earlier with profits boosted by foreign exchange gains. The group reported earnings of 2. 96 rupees for the quarter. In the six months to June group […]