Author: lbostgadmin
Sri Lanka private carrier resumes flights to north
Jan 22, 2012 (LBO) – Sri Lanka’s Expo Aviation will recommence twice daily flights to Jaffna in Sri Lanka’s north using a 12-seater Cessna Grand Caravan aircraft, a media report said. Sri Lanka’s The Sunday Times newspaper quoted Expo Aviation managing director Seraj Mohammed as saying that demand is seen picking up. The firm was […]
Sri Lanka to discourage raw commodity exports
Jan 20, 2012 (LBO) – Sri Lanka’s decision to raise taxes on exports in raw form and reduce those for raw material imports is to encourage local manufacture and value addition, Minister of Industry and Commerce Rishad Bathiudeen said. The island intends to make it more expensive to export rubber, timber and minerals in raw […]
Recycling Venture
Jan 20, 2012 (LBO) – Sri Lanka’s Kalhari Group has tied up with Epsi Computers for safe disposal of electronic waste which will be exported for recycling, a statement said. œElectronic waste is a new area for us,” Rajapaksa said. “We expect to provide Sri Lankans the facility to easily dispose of their electronic waste […]
Sri Lanka seen needing to improve land, labour productivity
Jan 20, 2012 (LBO) – Sri Lanka’s plantation companies are in crisis with high costs and falling commodity prices that only greater labour and land productivity can overcome, an official said. The island 150-year-old plantation industry needs to rationalize land and labour utilization and management, said Anura Ekanayake, a former Director of Planning at the […]
Merger Watch
Jan 20, 2012 (LBO) – Fitch Ratings Lanka said it has maintained Ceylease Financial Services’ ‘BB+(lka)’ National Long-Term rating on Rating Watch Evolving (RWE). Two state-owned banks control Ceylease with Bank of Ceylon owing a 55 percent stake and a 72 percent stake held by Merchant Bank of Sri Lanka (MBSL). Fitch said in a […]
Sri Lanka shares end down
Jan 20, 2012 (LBO) – Sri Lankan shares ended weaker once again Friday amid continuing selling pressure with turnover also falling, brokers said. Environmental Resources Invetsments was also heavily traded, closing at 30.10 rupees, down 50 cents. Commercial Bank gained 10 cents to close at 100 rupees. The main All Share Price Index closed down […]
Sri Lanka at risk from global slowdown: World Bank
Jan 19, 2012 (LBO) – Sri Lanka’s post-war economic rebound is slowing and financial problems in key Western markets could reduce demand for the island’s exports and hit earnings from worker remittances and tourism, the World Bank said. Given the possibility of further weakening in the global economy, efforts at greater revenue mobilization particularly in […]
Sri Lanka trade mission to Vietnam in March
Jan 19, 2012 (LBO) – A business delegation from Sri Lanka will visit Vietnam in March to expand trade, investment and tourism, the Ceylon Chamber of Commerce said. The Sri Lanka-Vietnam Business Council of the Ceylon Chamber is leading a trade and investment delegation to Vietnam’s capital Hanoi and Ho Chi Minh City, the economic […]
Sri Lanka coal power plant to get tax breaks
Jan 19, 2012 (LBO) – A 500 mega watt capacity coal plant to be built in eastern Sri Lanka with Indian aid is to get a range of tax exemptions and priority in approvals, the island’s Cabinet of ministers has decided. Recognition of projects under the ‘Strategic Development Project’ law entitles them to a range […]
Sri Lanka power projects eyed by Marubeni
Jan 19, 2012 (LBO) – Japan’s Marubeni Corporation plans to return to Sri Lanka and is keen on investing in power projects including supplying liquefied natural gas, the Ministry of Industry and Commerce said in a statement. Marubeni is a diversified multinational conglomerate engaged in diversified trading activities like imports and exports of food materials, […]
Cement prices in India set to rise
NEW DELHI, Jan 19 (Asia Pulse) – The price of a 50-kg bag of cement in India may go up by as much as Rs 9 (USNEW DELHI, Jan 19 (Asia Pulse) – The price of a 50-kg bag of cement in India may go up by as much as Rs 9 (USNEW DELHI, Jan […]
Legal Forum
Jan 19, 2012 (LBO) – Sri Lanka will be hosting a conference February initiated by the International Association of Young Lawyers (AIJA) which will also highlight the island’s potential as a legal process outsourcing destination, organizers said. AIJA will hold the two day conference from February 09 collaborating with the Bar Association of Sri Lanka, […]