Author: lbostgadmin
Sri Lanka Horana tea estate profits up on better prices
Feb 05, 2013 (LBO) – Profits at Sri Lanka’s Horana Plantations Plc, which mainly grows tea rose almost trebled to 100 million rupees in the December 2012 quarter from a year earlier, on stronger tea prices.The firm reported earnings of 4.03 rupees per share for the quarter.In the nine months to December earnings were 6.14 […]
Sri Lanka expects 27 cruise calls this year
Feb 05, 2013 (LBO) – Sri Lanka is expecting 27 cruise calls in 2013 with ocean liner Queen May 02 leading the way, docking at Colombo on February 04, the island’s tourism promotion office said. Sri Lanka’s tourism promotion office said the liner canned 2,300 tourists from the US, UK, Australia, New Zealand, South Africa […]
Capital Boost
Feb 05, 2013 (LBO) – International Finance Corporation, a unit of the World Bank has injected 75 million US dollars (9.6 billion rupees) as a subordinated loan to Commercial Bank of Ceylon which will boost its debt capital. The money will come as a 10 year loan from IFC Capitalization Fund, an asset management company […]
Sri Lanka President calls for religious harmony
Feb 04, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa called for religious harmony on the island’s Independence Day amid recent violence and rhetoric directed against the island’s Muslim minority by nationalist groups.Bhuddism, which is followed by a majority of the inhabitants of Sri Lanka came to the island from the Indian subcontinent and advocates […]
Doodle Celebration
Feb 04, 2013 (LBO) – Google has helped users in sri Lanka celebrate the country’s Independence Day on 2013 with a ‘Google Doodle’ on its homepage with a stylized lion and three colours found in the national flag. The doodle is visible on the google.lk home page worldwide and google.com pages viewed in Sri Lanka. […]
Sri Lanka should uphold rule of law, more international scrutiny ahead: UK minister
Feb 03, 2013 (LBO) – Sri Lanka should uphold rule of law and be committed to respect human rights to ensure that a planned Commonwealth summit in the island is well-attended, visiting UK foreign minister Alistair Burt has said.Sri Lanka is expected to host a Commonwealth Heads of Government Meeting (CHOGM), but countries including Canada […]
Midsea Rescue
Feb 03, 2013 (LBO) – Sri Lanka’s Navy has rescued 127 Bangladeshi and 11 Myanmar nationals from a wooden vessel that has been drifting 50 nautical miles off the eastern coast of the island.Sri Lanka’s Navy said 132 males, 03 females and 03 children were taken off an overcrowded wooden vessel and brought to Oluvil […]
Sri Lanka and Luxemburg to avoid double taxation
Feb 02, 2013 (LBO) – Sri Lanka and Luxemburg has signed an agreement to avoid double taxation, the island’s embassy in Brussels said.The agreement will help investments in tourism, business process outsourcing and financial services, which have potential, the embassy said. The deal was signed by the head of Sri Lanka’s mission to the European […]
No Visit
Feb 02, 2013 (LBO) – The International Bar Association’s Human Rights Institute (IBAHARI) said visas for a delegation to visit Sri Lanka had been denied by authorities. IBAHARI said the delegation “has been forced to postpone a planned visit to Sri Lanka to assess the rule of law and the independence of the judiciary due […]
Sri Lanka state carrier launches holiday booking engine
Feb 02, 2013 (LBO) – State-run SriLankan Airlines said it launched a booking engine to allow guests to book both hotel accommodation and holidays online through its website. “[W]we place great emphasis on providing our customers with convenient, customised holiday packages,” SriLankan Holidays manager, Gayan Peiris said in a statement. “The booking engine enables them […]
Small Business
Jan 02, 2013 (LBO) – Sri Lanka’s Credit Information Bureau (CRIB) and World Bank arm International Finance Corporation is boosting credit access to small businesses by making it easier to offer movable assets as collateral. “This initiative will make it easier for small businesses and entrepreneurs with few fixed assets to obtain the financing they […]
Sri Lanka protests rise over sudden tea export tax
Feb 01, 2013 (LBO) – Protests over a sudden export tax slapped on tea intensified with a second industry association joining exporters saying the industry was being progressively decimated by authorities.The Ceylon Tea Traders Association, an apex industry association, said a tax on tea has been virtually doubled “like a bolt from the blue” adding […]