All Blogs
Sri Lanka national airline hit by competition, needs protection: President
Apr 06, 2010 (LBO) – Sri Lanka’s state-run SriLankan Airline has not been able to face the competition in a liberalized air services framework and it has to be saved, President Mahinda Rajapaksa has said. He said Sri Lanka’s opposition was now criticizing the government’s economic strategy using false propaganda. “During their time they made […]
Sri Lanka to make logistics more popular among work force
Apr 06, 2010 (LBO) – Sri Lanka’s shipping community is trying to raise more awareness of trade and logistics among the work force and students to try to overcome a critical shortage of skilled people, officials said. Organisers said they also hope to encourage schools leavers and university students to look at logistics as alternative […]
Sri Lanka war-zone doctor stands for parliament
April 6, 2010 (AFP) – A doctor who drew world attention to civilian deaths during the Sri Lankan army’s defeat of Tamil Tiger rebels last year is to contest polls this week for a party that backs the man behind the offensive. Veerakathipillai Shanmugarajah, 40, was detained following the army’s final victory over the Tigers […]
Oil Move
Apr 06, 2010 (LBO) – Sri Lanka is to broaden its search for offshore oil and offer more exploration blocks in the Cauvery Basin in the island’s north as well as the south, the Central Bank said. The company’s Sri Lankan subsidiary Cairn Lanka has also called for bids to hire drilling rigs and logistic […]
Sri Lanka apparel sector has vacancies: investment chief
Apr 06, 2010 (LBO) – Employment at Sri Lanka’s export processing zones have increased 3.7 percent by end 2009 and there are now unfilled vacancies at some firms, the head of Sri Lanka’s state investment promotion agency said. Deputy director general A M C Kulasekera said firms coming under the agency, which received tax concessions, […]
Sri Lanka needs stable economy to progress: CB governor
Apr 06, 2010 (LBO) – Sri Lanka needs a stable economy with low inflation and ‘reasonable’ interest rates to progress and reduce poverty, after recovering from a 30-year war, Central Bank Governor Nivard Cabraal said. In Sri Lanka, for the past several decades, deficit spending governments have created a need for high interest rates but […]
Sri Lanka economy seen growing 6.5-pct in 2010: central bank
Apr 05, 2010 (LBO) – Sri Lanka’s economy will bounce back from the effects of war and global recession with 6. 5 percent growth this year, and maintain 7-8 percent growth in the medium term, the Central Bank said. Gross domestic product growth of 7.5 percent is anticipated next year and eight percent in 2012, […]
Sri Lanka to issue coin to replace note
Apr 05, 2010 (LBO) – Sri Lanka will issue a new ten rupee coin from April 05, to replace a note of a similar denomination now in circulation, the Central Bank said Monday. The nickel plated coin has a diameter of 26. 4 millimetres. The obverse has the armorial ensign of Sri Lanka with a […]
Sri Lankan stocks close 0.94-pct up, trading volumes low
Apr 05, 2010 (LBO) – Sri Lankan shares closed up Monday on price gains in selected midcap and high value stocks, while trading volumes remained low owing to market liquidity shortfalls, brokers said. Colombo’s All Share Price Index closed at 3,781. 90, up 35.40 points, while the Milanka index of more liquid shares gained 0.47 […]
Asset Switch
Apr 05, 2010 (LBO) – Sri Lanka’s state-run funds are buying into private banks as foreign investors continued to exit the country, while governments elsewhere, which had ‘nationalized’ banks in a banking panic were starting to sell out. Up to March foreign investors have sold out of about 13 billion rupees worth of stocks on […]