All Blogs
Sri Lanka eyes new deal with IMF as bailout draws to a close
June 16, 2012 (LBO) – Sri Lanka is eyeing a new deal with the International Monetary Fund with the end of three year program in July 2012 whose success was marred at its tail end by a new balance of payments crisis triggered by energy price manipulations. The three year 2.5 billion US dollar program […]
Horton Plains, Sri Lanka explored in new book
June 15, 2012 (LBO) – Sri Lanka’s Horton Plains, a small 30 square kilometer national park with beautiful scenery is a rich reserve of hundreds of endemic plants, animals and birds, that are not always visible to the untrained eye. A new book ‘Horton Plains’ edited by Rohan Pethiyagoda, a Sri Lankan scientist currently in […]
Sri Lanka gem show draws strong Chinese interest
June 15, 2012 (LBO) – Sri Lanka’s annual gem and jewellery show, FACETS to be held in September has already signed up more than 300 foreign buyers with the largest group of 50 dealers coming from China, the exhibition’s organizers said. Ziqufi Ismail, secretary to the Sri Lanka Gem and Jewellery Association said buyers from […]
Sri Lanka, US trade, investment can grow: official
June 15, 2012 (LBO) – Trade and investment between Sri Lanka and the United States can grow after the end of 30-year war, as peace brought new opportunities US Trade Representative to South Asia Micheal Delaney said. “My visit here allowed me to follow up on those discussions and to learn more about what the […]
Sri Lanka economic growth may slow to 6.75-pct, inflation to rise: IMF
June 15, 2012 (LBO) – Sri Lanka’s economic growth may slow to 6.75 percent in 2012 and inflation may rise to 9.5 percent by year end, requiring monetary policy to be kept tight, for the time being the International Monetary Fund official said. Discussions were also underway for a follow up program. John Nelmes, head […]
Sri Lankan state-run university part-funds its own capex
June 15, 2012 (LBO) – Sri Lanka’s state-run University of Colombo is part-financing a 395 million rupee building with cash generated by lecturers who conduct post graduate programs, as well as bank financing, officials said. “There is big demand for post graduate studies from the private sector,” professor Hirimburegama said. “I don’t think we should […]
Sri Lankan shares rise 1.61 percent
June 14, 2012 (LBO) – Sri Lankan share prices firmed up, closing 1. 61 percent higher, lifted by a one-off deal in Ascot Holdings PLC, brokers said. Colombo’s All Share Price Index gained 78.23 to 4,923.03, while the liquid Milanka Price Index rose 1. 80 percent or 77.68 points to close at 4,381.57, according to […]
Roaming Multiple
June 14, 2012 (LBO) – South Asians continue to pay more for their international roaming call charges when they travel within the region, despite a pledge in 2008 by regional heads to trim costs, a think-tank said. A Maldivian roaming in Bangladesh will pay 345 times more for a local call, the study showed. Sri […]
‘s Laugfs shoppers to get insurance cover from Chartis
June 14, 2012 (LBO) – Sri Lanka’s Laugfs Holdings, which has interests in cooking gas distribution and retailing has tied up with US based Chartis Insurance, to offer accident and disability cover to customers who patronise their supermarkets, officials said. Chartis, a leading property-casualty and general insurance firm serving more than 70 million clients around […]
Sri Lanka inks deal for US$4bn port based heavy industry complex
June 14, 2012 (LBO) – Sri Lanka has signed a 4. 0 billion US dollar deal to build port related heavy industries around the north eastern Trincomalee harbhour, the island’s state investment promotion agency said. Sri Lanka Gateway Industries (Pvt) Ltd, a foreign invested project company will build a deep water jetty, bulk commodities terminal […]