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Sri Lanka estate wage dispute breakthrough seen
Sept 13, 2009 (LBO) – Talks between Sri Lankan plantations companies and labour unions on a pay hike appeared to have made some headway when the dominant union agreed on a deal, union officials said. Plantations companies had said they were unable to pay 500 rupees a day as they cannot afford it given high […]
‘s Jet Airways, as strike ends
MUMBAI, September 13, 2009 (AFP) – Services on India’s second-largest private airline, Jet Airways, resumed on Sunday after a five-day walk-out by pilots ended, the company said.Jet officials, who sacked two other pilots for breach of disciplinary procedures, on Sunday told a news conference in Mumbai that no action would be taken against the pilots. […]
Sri Lanka sugar firm uses state credit to stop farmers switching to other crops
Sept 12, 2009 (LBO) – Sri Lanka’s Pelwatte Sugar Industries (PSISL) has used a state-supported credit scheme to stop farmers from moving into more attractive food crops and rubber cultivation and lobbied the government to increase tariff barriers.Chairman M J C Amarasuriya told shareholders the firm had been able to use a rural credit scheme […]
Sri Lanka estate wage dispute deadlocked
Sept 12, 2009 (LBO) – Talks between Sri Lankan plantations companies and labour unions on a pay hike were unsuccessful Friday and are likely to be resumed next week, although the gap seems to have narrowed, union officials said.O A Ramiah,.Secretary General of the Joint Plantation Trade Union Centre, one of the three main unions […]
Sri Lanka should avoid calls for protection: economist
Sept 12, 2009 (LBO) – Sri Lanka should resist calls by special interest groups to increase trade protection and reverse outward oriented policies amid the current downturn, an Australian based economist said. “We all know that the market economy of course combined with the rule of law and civil liberties have obvious advantages assuring tolerable […]
”: economist
Sep 12, 2009 (LBO) – Sri Lanka’s tendency to follow policies that hurt the average voter and makes the country lag behind other countries is due to ‘political market failure’ where small groups push policy without evidence, a senior economist said. “This is one of the most literate and educated populations in the world,” Shantanayan […]
Sri Lanka to bond deal draw top investment banks
Sept 11, 2009 (LBO) – Sri Lanka is getting closer to choosing managers for a 500 million US dollar bond with top names in the international investment banking circuit making presentations to the island’s authorities. Sri Lanka has been attracting the attention of big international names of late, more than a billion US dollars pouring […]
Sri Lankan shares up 8.0-pct during week
Sep 11, 2009 (LBO) – Sri Lankan shares closed up Friday as retailers remained bullish and bet on stocks almost across the board, while high-net-worth investors eyed the banking and hotel sectors and conglomerate John Keells Holding (JKH), brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.75 percent (48.89 points) to […]
Sri Lanka needs massive increase in hotel rooms
Sept 11, 2009 (LBO) – Sri Lanka needs a massive increase in hotel accommodation to cope with the anticipated influx of tourists with the end of the 30-year ethnic war, a senior travel trade official said.“The eradication of terrorism and the country returning to normal have created a window of opportunity and conducive business environment […]
Sri Lanka tea estate wage talks deadlocked
Sept 11, 2009 (LBO) – Sri Lankan plantations companies and labour unions failed to agree on a wage hike at talks Thursday and are set to resume negotiations Friday morning, officials said.S Ramanathan of the Joint Plantations Trade Union Centre, one of the three main unions negotiating with employers, said both sides remained far apart […]