Author: lbostgadmin
Sri Lanka protectionists score against trade liberties
May 26, 2010 (LBO) – Sri Lanka’s increasingly strident protectionist business interests have staged an apparently successful protest in the capital Colombo against further liberalization of trade and services with India. The protest came ahead of a visit by India’s foreign secretary who was expected to push for a revival of a liberalization deal in […]
Sri Lanka external trade up, apparel exports down
May 26, 2010 (LBO) – Sri Lanka’s external trade expanded in March 2010 with imports growing 6. 5 percent to 1090 million US dollars and with exports growing 4. 8 percent to 662.7 million rupees and but apparel exports fell. In March apparel exports fell 9. 5 percent from a year earlier to 281 million […]
Sri Lanka stocks close 0.5-pct up
May 26, 2010 (LBO) – Sri Lankan stocks closed higher Wednesday helped by midcap and penny stocks, while Confifi Hotels stocks shot up 46.5 percent amidst low volume trading in take-over play, brokers said. Asia Capital, an investment bank with stock brokering licenses closed at 33.00 rupees, up 2.00, Ceylon Hospitals closed at 75. 75 […]
Sri Lanka to get ADB aid for post-war development
May 25, 2010 (LBO) – Asian Development Bank (ADB) President Haruhiko Kuroda will visit Sri Lanka on May 26-28 where he will pledge ADB’s continuing support for government’s post-war reconstruction and development programs, the bank said. During the visit Kuroda is scheduled to meet top government officials and discuss ADB’s ongoing assistance for the country’s […]
Sri Lanka-India free trade deal helped consumers, producers: economist
May 25, 2010 (LBO) – A free trade deal between India and Sri Lankan has been partially successful in giving a better deal for the island’s consumers and industrialists with access to cheaper imported products and supplies, an economist said. Some of the cheapest and good quality products were available from India such as pharmaceuticals, […]
Sri Lanka exports to India to face unified tax: official
May 25, 2010 (LBO) – Sri Lankan exports to India will soon face only a single unified tax in place of a multitude of state taxes which exporters have complained act as barriers to trade, according to remarks by an Indian diplomat. “Let me state first of all that we are not a perfect country. […]
Sri Lanka tea, apparel exports to India rise sharply
May 25, 2010 (LBO) – Sri Lanka’s exports of tea and apparel to India rose sharply in 2009 as impediments in a free trade deal between the two neighbours were removed, an Indian diplomat said. “Most of the implementation issues that have created this so-called perception about the FTA have been resolved and others pertaining […]
Sri Lanka Hemas hydro power profits up
May 25, 2010 (LBO) – Sri Lanka’s Hemas Power annual net profit rose six percent to 243.6 million rupees in the year to March 31, 2010 with profit from hydro plants rising and that from thermal power falling, a stock filing said. Annual sales of the firm, which supplies power to state-run Ceylon Electricity Board, […]
Sri Lanka private universities; do not rush and spoil the soup
May 25, 2010 (LBO) – The announcement by the new Minister of Higher Education, Hon S.B Disssanayake, on assuming office and in subsequent interviews, that the top priority of his Ministry will be to make available more opportunities for the youth to pursue university education in Sri Lanka has echoed a long standing wish of […]
Sri Lanka shuts rehab camp for rebel child soldiers
May 25, 2010 (AFP) – Sri Lanka on Tuesday closed a camp holding former Tamil Tiger child soldiers, but 52 of the youths will stay in government care to complete their education, an official said. More than 500 child soldiers were picked up after security forces defeated Tamil Tiger rebels in a bloody final battle […]
Sri Lanka LOLC group buys into Confifi hotels
May 25, 2010 (LBO) – Lanka Orix Leasing Company (LOLC) has bought into a hotel group through a 70 percent joint venture it has with another firm, Browns Investments, in two deals valued at over 900 million rupees. LOLC had bought 3.1 million shares or 43.3 percent in Confifi Hotel Holdings at 210 rupees in […]
Malaysia eases visa rules for South Asia tourists
KUALA LUMPUR, May 25, 2010 (AFP) – Malaysia will relax visa rules for travellers from India, Bangladesh, Pakistan and Sri Lanka in an effort to boost tourism, an official said Tuesday. Malaysia recorded 7.62 million tourist arrivals between January and April this year, up from 7. 34 million in the same period last year. At […]