Author: lbostgadmin
Sri Lankans suffering due to wrong policy: legislator
June 17, 2012 (LBO) – Sri Lankans are suffering due to wrong economic policy actions especially those involving state interventions in markets that are backfiring, a legislator who has earlier raised red flags about the balance of payments has said. Harsha de Silva, an economist who represents Sri Lanka’s main opposition United National Party said […]
‘s Centara with two hotels
June 17, 2012 (LBO) – Thailand’s Centara Hotels and Resorts will open two 4-star hotels in Sri Lanka in the last quarter of 2012 which will be under their management in the island’s South West and East coasts. “These two superb hotels mark our debut in Sri Lanka, a market that we feel holds great […]
Sri Lanka eyes new deal with IMF as bailout draws to a close
June 16, 2012 (LBO) – Sri Lanka is eyeing a new deal with the International Monetary Fund with the end of three year program in July 2012 whose success was marred at its tail end by a new balance of payments crisis triggered by energy price manipulations. The three year 2.5 billion US dollar program […]
Sri Lanka airport gets Emirates premium lounge
June 16, 2012 (LBO) – Dubai’s Emirates Airlines opened a new 200 million rupee premium lounge at Sri Lanka’s main airport, catering to scores of wealthy travellers who use Colombo as a transit hub or as a growing upmarket tourist destination, officials said. International hotel chains like the Sheraton and Shangri-La have signed up to […]
Sri Lanka state airline to double flights to China from July
June 15, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines, is doubling flights to main Chinese cities by July and is eyeing more secondary destinations to capitalize on growing links with the Asian powerhouse, an official said. Sri Lanka’s national flag carrier currently flies over 10 times a week to China, from about three flights […]
Motor Agent
June 16, 2012 (LBO) – Sri Lanka’s listed Colonial Motors Plc, said it had bagged the agency for Japan’s Mazda Motor Corporation. The firm said a deal appointing it as the importer and distributor of Mazda vehicles for Sri Lanka and the Maldives was signed on June 11. Sri Lanka recently hiked taxes on motor […]
Sri Lanka economic growth may slow to 6.75-pct, inflation to rise: IMF
June 15, 2012 (LBO) – Sri Lanka’s economic growth may slow to 6.75 percent in 2012 and inflation may rise to 9.5 percent by year end, requiring monetary policy to be kept tight, for the time being the International Monetary Fund official said. Discussions were also underway for a follow up program. John Nelmes, head […]
Sri Lanka, US trade, investment can grow: official
June 15, 2012 (LBO) – Trade and investment between Sri Lanka and the United States can grow after the end of 30-year war, as peace brought new opportunities US Trade Representative to South Asia Micheal Delaney said. “My visit here allowed me to follow up on those discussions and to learn more about what the […]
Sri Lanka gem show draws strong Chinese interest
June 15, 2012 (LBO) – Sri Lanka’s annual gem and jewellery show, FACETS to be held in September has already signed up more than 300 foreign buyers with the largest group of 50 dealers coming from China, the exhibition’s organizers said. Ziqufi Ismail, secretary to the Sri Lanka Gem and Jewellery Association said buyers from […]
Horton Plains, Sri Lanka explored in new book
June 15, 2012 (LBO) – Sri Lanka’s Horton Plains, a small 30 square kilometer national park with beautiful scenery is a rich reserve of hundreds of endemic plants, animals and birds, that are not always visible to the untrained eye. A new book ‘Horton Plains’ edited by Rohan Pethiyagoda, a Sri Lankan scientist currently in […]
Sri Lanka expropriations a blow to entrepreneurship: businessman
June 14, 2012 (LBO) – A new wave of expropriation by Sri Lanka’s rulers is a blow to entrepreneurship in the island and a misguided repetition of a grave error that has harmed its people in the past, a Sri Lankan entrepreneur has warned. European System But analysts say the origins and widespread practice of […]
Sri Lanka to tighten trade deals with South Asia
June, 14, 2012 (LBO) – Sri Lanka’s cabinet has decided to make changes to free trade deals where necessary with South Asian nations after having discussions with counterparty country or countries concerned, minister Keheliya Rambukwelle said. Protection may also be a ‘tax’ on exports through the bidding up of wages and raw material prices. Some […]