Author: lbostgadmin
Sri Lanka govt to import chicken, eggs
Oct 08, 2010 (LBO) – The Sri Lankan government is to import chicken and eggs during the traditional festive seasons in November-December and the traditional new year in April, according to a Cabinet decision. The import programme is to be reviewed monthly. Sri Lanka imposed price controls on chicken and also pushed up import duties […]
Sri Lanka tourist arrivals up 24.6-pct in Sept 2010
Oct 08, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 24. 6 percent to 47,339 people in September 2010 from a year ago, driven by sharp increases from traditional European markets, tourism office data showed. The island’s peak tourism season coincides with the northern hemisphere winter. In the January-September 2010 period, tourist arrivals were […]
Road Moves
Oct 08, 2010 (LBO) – Sri Lanka’s Road Development Authority has commissioned the Moratuwa University to do a study on the island’s future requirements for expressways and connections with the existing road network, an official said. Road Development Authority chairman Ranjith Premasiri said the survey, being done by transport and logistics experts at the university, […]
Sri Lankan stocks close up 0.93-pct
Oct 08, 2010 (LBO) – Sri Lankan stocks recovered from a four day fall Friday on buying interest in midcap stocks, while index heavy weight John Keells Holdings (JKH) continued to slide, brokers said. The All Share Price Index closed at 6,833.61, up 0.93 percent (62.87 points), while the more liquid Milanka index rose 0.72 […]
Sri Lanka economic parley to mull growth strategies
Oct 07, 2010 (LBO) – Growth strategies needed to improve Sri Lanka’s economic climate and raise living standards by reducing income inequality will be discussed at a conference of economists later this month, a senior economist said The annual sessions of the Sri Lanka Economic Association will cover development of physical and social infrastructure, enhancing […]
Gas Buy
Oct 07, 2010 (LBO) – Sri Lanka will purchase a 51 percent stake in a liquid petroleum gas distributor in the island from Shell, a Dutch oil firm, for 63 million US dollars the government’s information office said Shell also built a terminal to store gas. See update on this story below with details of […]
Public Issue
Oct 07, 2010 (LBO) – Sri Lanka’s government will sell down a 49 percent stake in a liquid petroleum gas distributor after buying out a controlling stake held by Royal Dutch Shell for 63 million US dollars, a government minister said. Minister Rambukwella said after the state take-over the government will ensure that gas will […]
Gas Status
Oct 07, 2010 (LBO) – Sri Lanka’s Shell Gas unit said operations at the firm would remain unchanged until a sale of its stake is finalized, shortly after the government said it would buy out the oil giant for 63 million US dollars. “We are hopeful a sale purchase agreement will be signed soon,” Shell […]
Sri Lanka, India data exchange mooted to speed up trade
Oct 07, 2010 (LBO) – Trade between India and Sri Lankan could be speeded up and costs reduced by the use of pre-shipment data exchanges driven by security concerns being tested in Western economies, an expert said. The pre-shipment information exchanges are being tried in the West in response to concerns about terrorist infiltration of […]
Marks & Spencer says sales jump in second quarter
LONDON, October 7, 2010 (AFP) – British retailer Marks & Spencer reported a surprisingly big jump in sales during the second quarter of its financial year, driven by clothing and food items, but warned on Thursday about the outlook. Sales on a like-for-like basis, which strips out the effect of new floor space, rose 5.3 […]
Sri Lanka tourist market draws Gulf Air
Oct 07, 2010 (LBO) – Gulf Air, which has resumed flights to Sri Lanka after a war, is aiming for daily frequencies by next summer given the increasing number of Arab tourists visiting the island, officials said. Chief executive Samer Majali said the island’s economic recovery after its 30-year ethnic war is also drawing increasing […]
Sad State
KUWAIT CITY, October 6, 2010 (AFP) – Abuse of domestic workers in Kuwait is rising, and maids in the Gulf emirate face prosecution when they try to escape, Human Rights Watch said on Wednesday. The New York-based rights group said migrant domestic workers have minimal protection from employers who withhold salaries, force them to work […]