Author: lbostgadmin
Sri Lanka hikes prices of cement, poultry
Oct 14, 2012 (LBO) – Sri Lanka’s consumer affairs authority, which has imposed price controls on chicken and cement, has raised the prices of the items media reports said. Poultry which is under price control also has import protection. Sri Lanka’s cost of production of poultry is artificially high duty to import protection given to […]
Sri Lanka agri firm in cash call, moves to FMCG
Oct 14, 2012 (LBO) – Coco Lanka Ltd, a food processing and exporting firm said it was making a billion rupees cash call on shareholders to move into fast moving consumer goods retailing and become a holding company. Directors have resolved that both deals “do not constitute major transactions as defined by section 185 of […]
Sri Lanka budget: nobody said deficit is too large: Treasury Secretary
Oct 13, 2012 (LBO) – Not a single representative of the public or business community that had met Sri Lanka’s President Mahinda Rajapaksa, who is also finance minister, ahead of next month’s budget said the deficit was too large, an official said. Critics say the ruling political elite of all hues, has successfully maintained a […]
Sri Lanka to discuss new program later: IMF Rep
Oct 12, 2012 (LBO) – A separate mission would arrive in Sri Lanka to have discussion on an ongoing program with Sri Lanka with the end of a successful 2. 5 billion US dollar standby arrangement, an International Monetary Fund official said. IMF’s resident representative in Colombo Koshy Mathai said a mission that had just […]
Sri Lanka and India appoints task force to promote trade
Oct 12, 2012 (LBO) – Sri Lanka and India is appointing a joint task force with representatives from the private and state sectors to boost trade and investment, information minister Keheliya Rambukwelle said. Sri Lanka has appointed Kulatunga Rajapaksa from Samson International, Susantha Ratnayake from John Keells Holdings and Ashrof Omar from Brandix as representative […]
Sri Lanka forestry program expanded by Australia
Oct 12, 2012 (LBO) – A community based program to increase forest cover in Sri Lanka’s dry zone and support small farmers has been launched by Australia and the United National Development Program. “Forests are a critical environmental and economic resource for Sri Lanka,” the Australian embassy in Colombo said in a statement. “During the […]
Sri Lanka and India to strike nuke deal, accident response
Oct 12, 2012 (LBO) – Sri Lanka and India will move towards striking a comprehensive agreement on civil nuclear co-operation, a joint statement issued after the first discussions between the two countries on the issue said. At the first round of talks held in Delhi representative from foreign ministries of the two countries and the […]
Sri Lanka stocks closed up 0.30 pct
October 12, 2012 (LBO) – Sri Lanka stocks ended a streak of losses and closed up 0.30 percent Friday. Dialog Axiata PLC closed flat at 8.50 rupees. Index heavy John Keells Holdings PLC gained 1.90 rupees to close at 205.40 rupees up 0.93 percent. The Colombo All Share Index closed at 5,738.24 up 17.38 points […]
Sri Lanka mine clearing boosted by Japan
Oct 11, 2012 (LBO) – Japan has give 96 million rupees (737,575) US dollars to clear mines in Sri Lanka’s former war zones where a civil war raged for 30-years until 2009, to help war refugees return to their former homes. The Japanese embassy in Colombo said the money will be used by Delvon Assistance […]
” ranking
Oct 11, 2012 (LBO) – Sri Lanka expects to move up on an ease of doing business ranking compiled by World Bank group for 2013, a multilateral lender, the island’s central bank which has been involved in moves to improve the ranking said. A state or territory can move down on the rankings even without […]
Sri Lanka borrowings not limited to China: Treasury Secretary
Oct 11, 2012 (LBO) – Sri Lanka’s external financing has got diversified out of a traditional Western led donor group but the country was not just depending on China, despite such a perception building up, Treasury secretary P B Jayasundera said. “Although there is a perception that we have only Chinese assistance for development, the […]
Sri Lanka water supply project to get more ADB finance
Oct 11, 2012 (LBO) – Sri Lanka will negotiate with the Asian Development Bank to get 40 million US dollars of additional financing for a water supply project in Sri Lanka’s dry zone, minister Keheliya Rambukwelle said. This project on completion will provide safe drinking water to more than 453,000 people living. The project involves […]