Author: lbostgadmin
Sri Lanka to continue tight macro-management after IMF deal: CB Governor
July 4, 2011 (LBO) – Sri Lanka will manage macro-economic policy prudently on its own after an International Monetary Fund deal ends in December, Central Bank Governor Nivard Cabraal said. Coomaraswamy said Sri Lanka has had a history of deficit spending and high inflation over the past 30 years and a seal of approval by […]
Sri Lanka approves investments of US4.0bn in first half
July 4, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, had approved 4.0 billion dollars of local and foreign investments in 28 projects in the first half of 2011, its acting chairman A M C Kulasekera said. Among known large projects in the pipeline are two hotel and shopping complexes […]
Philippines want to open air services to Sri Lanka: report
July 4, 2011 (LBO) – Aviation authorities in Philippines want to expand air links with Sri Lanka in talks set for July to take forward the country’s ‘open skies’ policy and boost tourism, a media report said. Phillippine Daily Inquirer newspaper said the country’s Civil Aeronautics Board was seeking space to increase flights to the […]
SriLankan Airlines cuts air fares
July 04, 2011 (LBO) – SriLankan Airlines said it has cut ticket prices by about 15-20 percent in general on flights from Colombo with special one-way fares for students and migrant workers and group fares for pilgrims. It said in a statement the “flexible air fare plan provides a more competitive range of fares for […]
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NEW DELHI, July 4, 2011 (AFP) – Feuds over property and deadly clashes over land are as much a part of India’s economic rise as call centres and the foreign acquisitions made by its leading companies. “I wonder if this amoral energy (which Shah possesses) is what it takes to start a new nation,” Adiga […]
Sri Lanka to turn war-time fort into tourist attraction
July 04, 2011 (LBO) – Sri Lanka plans to convert a colonial-era fort in the north that was also fought over during the recent ethnic war into a tourist attraction, the economic development ministry said in a statement. “Since the end of the war large numbers of local and foreign tourists flock to Jaffna daily. […]
Software Suite
July 04, 2011 (LBO) – Sri Lanka’s Citizens Development Business Finance has selected a banking technology platform developed by Polaris Software and MillenniumIT, a statement said. The IntellectTM product suite supports a wide spectrum of banking operations such as general ledger and deposits, along with specialized modules like pawning, debentures, and audit trail. “This well […]
Sri Lanka shares end down 0.4-pct
July 04, 2011 (LBO) – Sri Lankan shares closed 0.41 percent weaker Monday with a low turnover and reduced retail participation, brokers said. Associated Motor Finance Company closed at 300 rupees, up 50 percent or 100 rupees. Singalanka Standard Chemicals closed at 2,090. 90, up 287.20 or 15.92 percent. Keels Food Products closed at 125.20 […]
‘s frustrated migrant workers rise up
BEIJING, July 3, 2011 (AFP) – Migrant worker Yue Yaowei has lived in Beijing for six years but is not recognised as a resident of the Chinese capital — and so cannot get health insurance, buy a car or purchase a house. “I am under big pressure here,” Yue, 24, told AFP at a duck […]
Sri Lanka state-run cashew firm losing money
July 03, 2011 (LBO) – State-run Sri Lanka Cashew Corporation is losing money, has low productivity of its lands, and is depending on Treasury handouts to operate, a finance ministry report said. The Cashew Corporation made one percent of the country’s annual production of 8,000 metric tonnes but there wasn’t enough focus on developing cashew […]
Sri Lanka diplomats to plug tourism
July 3, 2011 (LBO) – Sri Lanka’s diplomats will promote the country abroad in the future and the state tourism promotion office will gradually sever links with private public relations firms, deputy economic development minister Lakshman Yapa Abeywardene said. “The government has decided do slowly distance ourselves from private public relations firms,” Abeywardene told reporters. […]
Sri Lanka ready to give ton-up Jayawardene a break
LEEDS, July 2, 2011 (AFP) – Sri Lanka are contemplating resting Mahela Jayawardene from games in order to prolong the star batsman’s career. The only people who appeared to need Jayawardene to take a break at Headingley here on Friday were England’s bowlers as the 34-year-old marked his 343rd one-day international with a career-best 144. […]