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Sri Lanka to turn war-time fort into tourist attraction
July 04, 2011 (LBO) – Sri Lanka plans to convert a colonial-era fort in the north that was also fought over during the recent ethnic war into a tourist attraction, the economic development ministry said in a statement. “Since the end of the war large numbers of local and foreign tourists flock to Jaffna daily. […]
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NEW DELHI, July 4, 2011 (AFP) – Feuds over property and deadly clashes over land are as much a part of India’s economic rise as call centres and the foreign acquisitions made by its leading companies. “I wonder if this amoral energy (which Shah possesses) is what it takes to start a new nation,” Adiga […]
SriLankan Airlines cuts air fares
July 04, 2011 (LBO) – SriLankan Airlines said it has cut ticket prices by about 15-20 percent in general on flights from Colombo with special one-way fares for students and migrant workers and group fares for pilgrims. It said in a statement the “flexible air fare plan provides a more competitive range of fares for […]
Philippines want to open air services to Sri Lanka: report
July 4, 2011 (LBO) – Aviation authorities in Philippines want to expand air links with Sri Lanka in talks set for July to take forward the country’s ‘open skies’ policy and boost tourism, a media report said. Phillippine Daily Inquirer newspaper said the country’s Civil Aeronautics Board was seeking space to increase flights to the […]
‘s ITES Sector: People are still the problem
July 4, 2011 (LBO) – In post-war Sri Lanka the hopes placed on IT enabled services (made up of software exports and business process outsourcing (BPO) are second only to those placed on tourism. Not only are these service industries seen as quick wins in terms of immediate creation of jobs and exports, they are […]
Sri Lanka approves investments of US4.0bn in first half
July 4, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, had approved 4.0 billion dollars of local and foreign investments in 28 projects in the first half of 2011, its acting chairman A M C Kulasekera said. Among known large projects in the pipeline are two hotel and shopping complexes […]
Sri Lanka to continue tight macro-management after IMF deal: CB Governor
July 4, 2011 (LBO) – Sri Lanka will manage macro-economic policy prudently on its own after an International Monetary Fund deal ends in December, Central Bank Governor Nivard Cabraal said. Coomaraswamy said Sri Lanka has had a history of deficit spending and high inflation over the past 30 years and a seal of approval by […]
Sri Lanka ranked 82nd in innovation index
July 04, 2011 (LBO) – Sri Lanka has been ranked 82nd, in a global innovation index issued by Insead, an international business school, behind India but ahead of other key south Asian countries. Switzerland topped this year’s ranking in the Global Innovation Index (GII), while Sweden took second place and Singapore third. The GII 2011 […]
Sri Lanka on track to meet deficit, FDI targets: Treasury Secretary
July 04, 2011 (LBO) – Sri Lanka is “well on track” to keep the 2011 budget deficit within 7. 0 percent of gross domestic product, and foreign direct investments of 2.0 percent of GDP, Treasury secretary P B Jayasundera said. With first quarter GDP at around 8. 0 percent, per capita GDP is on track […]
Sri Lanka state revenues up 19.8-pct to May
July 04, 2011 (LBO) – Sri Lanka’s state revenues rose 19. 8 percent to 358.2 billion rupees in the five months to May from a year earlier, a finance ministry report said, with a surge in imports helping pad up revenues. The state extracted 23.8 percent more taxes from the people, totaling 319. 7 billion […]