All Blogs
Sri Lankan airline chief calls for fully liberalized skies with India
June 04, 2010 (LBO) – Sri Lanka and India should fully liberalize air services within the two countries, further strengthen links between them and set an example to South Asia, the head of the island’s state-run national carrier said. India then allowed private airlines to fly to Colombo and other South Asian countries. Sri Lankan […]
Sri Lanka ERI takes control of fabric manufacturer
June 04, 2010 (LBO) – Sri Lanka’s Environmental Resources Investment, an investment holding company, has bought control of fabric manufacturer South Asia Textile Industries Lanka for 710 million rupees, according to stock exchange filings. The statement said SATL has had “positive results” from its inception and annual sales of 3.6 billion rupees in 2007 and […]
Sri Lanka north-east ripe for tourism, agriculture
June 04, 2010 (LBO) – Sri Lanka’s Eastern and Northern provinces are ripe for investment in tourism, food processing and finance with infrastructure being built to improve connectivity, officials said. Sri Lanka’s Northern and Eastern provinces were devastated by a 30-year war which ended last year with the military wiping out the last remnants of […]
Sri Lanka Central Bank releases latest economic, social statistics
June 04, 2010 (LBO) – The Central Bank of Sri Lanka said it has just released its annual publication ‘Economic and Social Statistics of Sri Lanka 2010’ with data on a wide range of economic and social developments. “The vast amount of data included in this publication will be of use for analysing trends in […]
Sri Lanka and India should move for closer economic ties: president
June 04, 2010 (LBO) – Sri Lanka and India have an opportunity to move towards closer economic ties as the end of a 30-year war opened up new opportunities, Sri Lankan President Mahinda Rajapaksa said. “We have a common heritage in trading with each other and the rest of the world,” President Rajapaksa told a […]
Sri Lanka to remove tax on foreign currency note imports: minister
June 03, 2010 (LBO) – The Sri Lankan government is to remove taxes totaling up to 22 percent on import of foreign currency notes in an effort to curb black market trade, a senior minister said. “With these taxes removed, they (black market) will find it hard to compete with government approved institutions,” Rambukwella said […]
Sri Lankan stocks close up 0.74-pct, banks gain
June 03, 2010 (LBO) – Sri Lankan stocks closed at a new high Thursday, boosted by gains in financial sector shares while the Furkhan family sold remaining stakes in Confifi Hotels to Lanka Orix Leasing Company (LOLC), brokers said. The All Share Price Index (ASPI) closed at 4,332.29, up 31.90 points, while the Milanka index […]
Credit Enhancement
NEW YORK, June 3, 2010 (AFP) – Credit rating agencies came under fire for their role in the global financial crisis Wednesday, as US investigators grilled senior industry figures, including mega-investor Warren Buffett. Answering allegations that rating firms helped propel the sale of risky investments that poisoned the global financial system, senior officials from Moody’s […]
Film Awards
June 3, 2010 (AFP) – Sri Lanka’s cricket captain Thursday applauded the “courage” of stars attending the annual Bollywood film awards being held this year in Sri Lanka despite a boycott call by the Tamil cinema industry. Kumar Sangakkara said the Bollywood celebrities who have already arrived in Colombo for Saturday’s glitzy Indian International Film […]
Sri Lanka Kuruwita Textiles back in profit
June 03, 2010 (LBO) – Sri Lanka’s Kuruwita Textile Mills said it returned to profit in the 2010 financial year from losses the year before although a sharp increase in raw material prices caused a loss in the fourth quarter. The firm, which supplies treated fabric to garment manufacturers, made a net profit of 15.6 […]