Author: lbostgadmin
Sri Lanka tourist arrivals up 21-pct in May
June 17, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 21 percent to 70,026 in May 2013 from a year earlier, with a recovery in the Indian market and Western Europe growing strongly, official data shows.South Asia rose 14.4 percent to 23,819. India, Sri Lanka’s largest generating market rose 8.5 percent to 17,233 and Maldives […]
Credit Trend
June 17, 2013 (LBO) – Sri Lanka’s credit to private business fell to a three year low of 7.6 billion rupees in April 2013 the lowest since May 2010, with state borrowings continuing to crowd out other loans. Contractions in central bank credit help build up foreign reserves and keep the exchange rate strong but […]
Sri Lanka stocks close flat
June 17, 2013 (LBO) – Sri Lanka’s stocks closed flat Monday, due to index heavy stocks continuing to drop and profit taking by some investors, brokers said. Nestle Lanka gained 8.40 rupees to close at 1928.60 rupees and Dialog Axiata closed flat at 8.80 rupees. The benchmark Colombo All Share Index closed 0.28 points lower […]
Sri Lanka gaming tax to be on par with the rest of the world: minister
June 14, 2013 (LBO) – Sri Lanka’s gaming taxes could be made to be on par with the rest of the world, investment promotions minister Lakshman Abeywardena said amid queries why gaming levies are being brought down.He said casinos were now located haphazardly in Colombo and some were near schools and in a recent budget […]
Sri Lanka rupee weakness a logical adjustment: CB Governor
June 14, 2013 (LBO) – A weakness in Sri Lanka’s rupee is a “logical adjustment” coming amid falling Asian currencies including the Indian rupee and Japanese Yen that will also ward off import pressure, Central Bank Governor Nivard Cabraal said.“There are different ways of looking at this,” Cabraal said. “The Indian rupee has weakened significantly. […]
Sri Lanka economic forum to bridge gap between business and universities
June 14, 2013 (LBO) – An annual economic policy forum will bring universities and business together in a bid to bridge a perceived gap between their needs and the output of local universities its organizer, Ceylon Chamber of Commerce said. A speech by Gehan Amaratunga, head, electronics, power and energy conversion group, Cambridge Engineering Faculty […]
Cricket: Ton-up Sangakkara blows England away
LONDON, June 13, 2013 (AFP) – Kumar Sangakkara smashed an unbeaten 134 off 135 balls as Sri Lanka stunned England by seven wickets in a high-scoring thriller on Thursday to stay afloat in the Champions Trophy.Cook chipped in with 59 and Ravi Bopara smashed 28 runs from the final over after Sri Lanka grabbed four […]
‘s inflation cools but rate cut unlikely
NEW DELHI, June 14, 2013 (AFP) – India’s inflation cooled to a more than three-year low in May, data showed Friday, but the rupee’s plunge will likely stall any interest rate cut to kickstart the ailing economy.The Wholesale Price Index, India’s most most closely watched inflation gauge, dropped to 4.7 percent in May on an […]
Altruism
June 14, 2013 (LBO) – Brandix, an apparel group said its workers who had donated blood voluntarily had been recognized for making the firm the largest company to have contributed to the National Blood Transfusion Service.Sri Lanka’s President Mahinda Rajapaksa had given a plaque appreciation which had been received by Brandix chief people officer Ishan […]
Sri Lanka stocks up 0.2-pct
June 14, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Friday following three straight days of losses with index heavy stocks continuing to drop and profit taking by some investors, brokers said. Distilleries Company gained 60 cents to close at 195.00 rupees, The Lion Brewery closed at 387.40 up 2.40 rupees. The […]
Sri Lanka authorities watch gold import surge
June 14, 2013 (LBO) – Sri Lanka has seen a surge in gold imports in the second quarter of 2013 and is being watched by authorities, Central Bank Governor Nivard Cabraal said.“We have seen a activity in the gold market.People are importing gold,” Central Bank Governor Nivard Cabraal said. “From the second quarter it has […]
Sri Lanka to ban foreign investments in to steel, cement, retail trade
June 13, 2013 (LBO) – Sri Lanka plans to ban foreign investments into steel, cement, retail trade, small scale agriculture and beauty care products, to ‘protect’ domestic investors, according to decision by the cabinet of ministers.Cabinet spokesman Keheliya Rambukwelle said relevant regulations would be made known later. He said existing investors in the sectors will […]