Author: lbostgadmin
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Apr 02, 2012 (LBO) – Sri Lanka’s Hatton National Bank has been given a ‘B1’ foreign currency rating, based on its own balance sheet and possible state support, Moody’s Investors Service said. The rating has a stable outlook. The rating agency said HNB had maintained “above-average capitalization Levels” compared with similarly rated bank banks in […]
Sri Lanka to get Tiger Airways flights from May
Apr 01, 2012 (LBO) – Singapore-based Tiger Airways, a budget carrier, said it is starting thrice-a week flights to Sri Lanka’s capital Colombo from May 31, as the island attraction as a tourist spot grows after the end of a civil war. “We are pleased to announce the launch of our direct flights between Singapore […]
Airport Link
Apr 01, 2012 (LBO) – Sri Lanka is planning a 600 million dollar high-speed rail link to it capital Colombo from the main international airport with a Malaysian led firm coming in as a promoter, a media report said. Sky bridges or underwater tunnels would link the terminal to the main railway station in Colombo […]
Sri Lanka raises automobile import taxes
Mar 31, 2012 (LBO)- Sri Lanka has slapped new taxes of as much as 100 percent of import value on some imported cars, but raised taxes on hybrid cars at a lower rate, in a move which can reduce state revenues from automobiles this year. Sri Lanka’s ordinary citizens pay very high taxes on cars, […]
Petro Deal
Mar 31, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has struck a deal to import 500 million US dollars of petroleum products from Vietnam over the next six months, ambassador Ton Sinh Thanh said. Ambassador Thanh told an economic forum organized by the Institute of Policy Studies and the embassy of Vietnam that […]
Sri Lanka forex inflows rising: Central Bank
Mar 31, 2012 (LBO) – Sri Lanka’s central bank said there had been a “considerable improvement” in foreign exchange inflows in March 2012, amid a caution that it is domestic monetary policy and not inflows that determines an exchange rate. More than 500 million US dollars in foreign investment is expected in the next few […]
Sri Lanka on track to get IMF tranche next week
Mar 30, 2012 (LBO) – Sri Lanka is on track to resume a loan program with the International Monetary Fund next week, with preliminary data showing that action taken to break credit and domestic demand are showing results. The IMF held back the final two tranches of around 800 million dollars from its 2. 5 […]
Sri Lanka inflation jumps to 5.5-pct in March
Mar 30, 2012 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 5.5 percent in the 12 months to March 2012 up from 2.7 percent in February with the index growing 2. 2 percent in the month, statistics office data showed. Food prices remained stable with the foods index growing just 0. 1 percent […]
” for Indian investment
Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and […]
” compliance has advantages
Mar 31, 2012 (LBO) – Sri Lankan exporters will have to ensure the ‘greenness’ of their products to comply with environmental rules of importers to ensure future market access, an official said. There is a major shift in environmental and sustainable policies worldwide, said Edward Clarence-Smith of the United Nations Industrial Development Organisation Sri Lankan […]
Sri Lanka hosts trade facilitation forum
Mar 30, 2012 (LBO) – Sri Lanka Export Credit Insurance Corporation and the Commonwealth Secretariat is hosting a trade facilitation and export seminar in Colombo, its organizers said. The Commonwealth Secretariat is an intergovernmental agency which facilitates co-operation among Commonwealth nations and advises on policy. A study conducted in 2009 by the Commonwealth Secretariat on […]
Sri Lanka Mackwoods Energy share issue draws almost Rs400mn
Mar 30, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited that was oversubscribed on the opening day has drawn applications worth almost 400 million rupees, a stock exchange filing said. The IPO was an offer for subscription for 25 million ordinary voting shares at 14 rupees each, to raise a […]