All Blogs
Top Bank
June 18, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the island’s largest commercial bank has topped a trillion rupees (7. 6 billion US dollars) in assets by the end of May 2012, officials said. Chairman Gamini Wickramasinghe said a target for one trillion in assets and ten billion rupees in profits was set […]
Singlish Award
June 18, 2012 (LBO) – A British national living in Sri Lanka who is a part-time teacher and writer has been honored by Queen Elizabeth for his work on ‘Sri Lankan English’ which has its own peculiarities. He is now working on a trilingual learners’ dictionary of colloquial Sinhala, English and Tamil. Michael Meyler has […]
Is Sri Lanka subsidizing cancer with diesel?
June 18, 2012 (LBO) – Health is not a topic that is routinely covered in this column. I am not writing about health per se, but about subsidies that harm health. Petroleum industries minister Anura Yapa said the agency is also collecting arrears from state agencies including Ceylon Electricity Board, SriLankan Airlines and had started […]
Sri Lanka economy grows 7.9% in first quarter: statistics office
June 18, 2012 (LBO) – Sri Lanka’s economy expanded by a slower 7.9 percent during the first quarter of this year, from the same period a year earlier, dragged down by a fall in farm output, the national statistics office said. The Indian Ocean Island’s economy has quickened at a rapid pace since Sri Lanka’s […]
Sri Lanka warned to be careful about forex swaps by IMF
June 18, 2012 (LBO) – Sri Lanka should be careful about the inflationary effects of liquidity created by large foreign exchange swaps with the Central Bank, an International Monetary Fund official said. Analysts have warned that liquidity created by all central bank purchases for foreign exchange – including outright purchases – would flow out through […]
‘s Centara with two hotels
June 17, 2012 (LBO) – Thailand’s Centara Hotels and Resorts will open two 4-star hotels in Sri Lanka in the last quarter of 2012 which will be under their management in the island’s South West and East coasts. “These two superb hotels mark our debut in Sri Lanka, a market that we feel holds great […]
Sri Lankans suffering due to wrong policy: legislator
June 17, 2012 (LBO) – Sri Lankans are suffering due to wrong economic policy actions especially those involving state interventions in markets that are backfiring, a legislator who has earlier raised red flags about the balance of payments has said. Harsha de Silva, an economist who represents Sri Lanka’s main opposition United National Party said […]
Motor Agent
June 16, 2012 (LBO) – Sri Lanka’s listed Colonial Motors Plc, said it had bagged the agency for Japan’s Mazda Motor Corporation. The firm said a deal appointing it as the importer and distributor of Mazda vehicles for Sri Lanka and the Maldives was signed on June 11. Sri Lanka recently hiked taxes on motor […]
Sri Lanka state airline to double flights to China from July
June 15, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines, is doubling flights to main Chinese cities by July and is eyeing more secondary destinations to capitalize on growing links with the Asian powerhouse, an official said. Sri Lanka’s national flag carrier currently flies over 10 times a week to China, from about three flights […]
Sri Lanka airport gets Emirates premium lounge
June 16, 2012 (LBO) – Dubai’s Emirates Airlines opened a new 200 million rupee premium lounge at Sri Lanka’s main airport, catering to scores of wealthy travellers who use Colombo as a transit hub or as a growing upmarket tourist destination, officials said. International hotel chains like the Sheraton and Shangri-La have signed up to […]