All Blogs
Oil Exemption
June 12, 2012 (LBO) – Sri Lanka, India, Malaysia, Korea, South Africa, Turkey and Taiwan has been recognized as countries that have significantly cut oil imports from Iran, US secretary of state Hilary Clinton has said. Financial institutions of countries that traded with Iran faced the possibility of being penalized in international trade settlements by […]
Sri Lanka, South Asian can benefit from free trade, education
June 12, 2012 (LBO) – Sri Lanka and her South Asian neighbors should give trade freedoms to their citizens, strengthen property rights and increase investments in education, a business executive turned politician has said. While South Asian nations were trading with countries in the West whose citizens had won trade freedoms and had high living […]
Sri Lanka shares up 0.26 percent
June 11, 2012 (LBO) – Sri Lankan stock prices edged up Monday, on slim volumes with selected buying across blue chips counters, brokers said. JKH counter rose 1.30 rupees to 180.00 rupees on volumes of 146,832 shares. Carsons, with investments ranging from oil palms to beer manufacturing, was flat at 467. 00 rupees on trades […]
Credit Trends
June 11, 2012 (LBO) – Loans to private borrowers from commercial banks collapsed to just 18. 7 billion rupees in April 2012, from 55 billion rupees a month earlier, the lowest since June 2010, amid heavy state borrowing, official data showed. Loans to private borrowers from banks rose 34 percent from a year earlier to […]
Sri Lanka, Vietnam in move to boost tourism
June 11, 2012 (LBO) – Sri Lanka and Vietnam are planning to boost tourism between the two countries after a visit by Vietnamese travel firms to Colombo which will be followed by a familiarization tour by Sri Lankan travel agents, officials said. Udaya Silva, Sri Lanka’s IATA travel agents association said he expected mutually beneficial […]
Sri Lankan Airlines to join Oneworld alliance
June 11, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines will join ‘oneworld’ next year with Cathay Pacific taking it through an implementation program as its sponsor, the global alliance of air carriers said. Sri Lanka’s capital Colombo is already served by oneworld members Cathay Pacific and Royal Jordanian, and member designate Malaysia Airlines. SriLankan’s […]
Debt Games
June 11, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has run debts of 65 billion rupees with other state entities by May 31 and talks are on to clear them with a Treasury bond, a minister has said. Petroleum minister Susil Premjayantha has told parliament furnace oil is still being sold to […]
Sri Lanka exports drop 9.2 percent April
June 11, 2012 (LBO) – Sri Lanka’s exports fell 9.2 percent to 680.1 million dollars in April, while the country’s import bill slipped 3.3 percent to 1,441.0 million dollars, due to slower sales of apparels and tea, official data showed. The bank said the average crude oil import price rose to 121.21 dollars per barrel […]
Sri Lanka tourism urges Europeans to ignore bad media reports
June 10, 2012 (LBO) – Sri Lanka’s tourism chief is urging European businessmen to ignore negative media reports in their home countries that highlight the island’s human rights record and may lose them investment opportunities. The Indian Ocean Island is experiencing a boom in tourists and leisure industry related-developments, three-years after government forces ended the […]
Deficit plugging Krugman slammed by Estonian leaders
June 10, 2012 (LBO) – Paul Krugman, an influential Nobel laureate who peddles a formula of deficit spending for rulers and currency depreciation for the people as tools of economic recovery, has received a set down from a small nation that did the exact opposite. In a New York Times blog post earlier this week, […]