Author: lbostgadmin
Sri Lanka to present interim budget
Apr 23, 2010 (LBO) – Sri Lanka’s government is to present a ‘vote on account’ instead of a formal budget for the three-month May to July period and a ‘mini-budget’ thereafter to cover spending till year’s end, a spokesman said. This was because of presidential and parliamentary polls called ahead of schedule, both of which […]
Sri Lanka president retains finance, cuts size of new cabinet
Apr 23, 2010 (LBO) – Sri Lankan president Mahinda Rajapaksa retained the finance and defence portfolios in a new cabinet appointed after parliamentary polls and added the ministries of ports, aviation and highways seen as critical in a post-war revival. A government statement said the cabinet consists of 37 ministers and 39 deputies, much smaller […]
Sri Lanka to face New Zealand in United States
WELLINGTON, April 23, 2010 (AFP) – New Zealand will play a three-match Twenty20 series against Sri Lanka in the United States next month, officials said Friday. The matches in Florida will launch a new strategic partnership between cricket authorities in New Zealand and the United States, New Zealand Cricket chief executive Justin Vaughan said. “This […]
Sri Lanka exporters face higher air freight costs
Apr 23, 2010 (LBO) – Sri Lankan exporters face higher transport costs with the flight disruptions caused by volcanic ash over Europe sending air freight rates shooting up and causing a space crunch, officials said. Tony de Livera, chairman of the Sri Lanka Freight Forwarders Association, said the flight disruptions have disrupted local businesses relying […]
” deported by Malaysia
KUALA LUMPUR, April 23, 2010 (AFP) – Malaysia said it has arrested and deported several leaders of the Sri Lankan separatist Tamil Tiger rebels over the past few months to prevent them setting up a hub in the country. Home Minister Hishammuddin Hussein said in a statement late Thursday he had informed Sri Lanka of […]
Sri Lanka dairy business prospects seen improving
Apr 23, 2010 (LBO) – Sri Lanka’s dairy sector is improving with strong competition among processors expanding demand for milk and helping farmers, the US Agency for International Development said. USAID has boosted the sector by partnering with a private company to increase milk production, it said in a statement. A USAID study showed that […]
Sri Lanka Lighthouse Hotel March net up 100-pct
Apr 23, 2010 (LBO) – Lighthouse Hotel, a unit of Sri Lanka’s Jetwing leisure group said profits rose 102 percent in the March quarter to 32.2 million rupees amid a pick up in tourism, interim accounts showed. Revenues rose 34 percent to 110. 3 million rupees in the quarter. Sri Lanka’s peak tourism season is […]
Sri Lanka shares end up 1.08-pct
Apr 23, 2010 (LBO) – Sri Lankan stocks climbed further Friday with hotels remaining a favourtie among investors anticipating higher company earnings with an economic recovery after the end of a war and global recession, brokers said. The All Share Price Index closed at 4,121. 64, up 1.08 percent (44.09 points) while the more liquid […]
Sri Lanka to grow by 5.5-pct in 2010, but fiscally vulnerable: IMF
Apr 22, 2010 (LBO) – Sri Lanka’s economy is expected to grow at a faster 5. 5 percent of gross domestic product in 2010 but the country is facing a danger from excessive deficit spending, an International Monetary Fund (IMF) official said. IMF’s forecast is slightly lower than Sri Lanka’s central bank forecast of a […]
Sri Lanka money supply, excess liquidity closely watched: Central Bank
Apr 22, 2020 (LBO) – Excess liquidity in Sri Lanka’s money markets were high and base money was growing faster since the last quarter, but the Central Bank will ‘closely monitor’ changes and take action if needed, the monetary authority said. “Reserve money has been expanding at a higher rate since the last quarter of […]
Sri Lanka to get investments in hydro power, hotels
Apr 22, 2010 (LBO) – Two mini-hydro power plants and new hotels and hotel refurbishment are among several investments approved by Sri Lanka’s investment promotion agency, a statement said. The Board of Investment (BOI) said it has approved and signed agreements for eight new investments worth 20 million US dollars that will create 500 job […]
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WASHINGTON, April 21, 2010 (AFP) – The United States called on Sri Lanka’s new government Wednesday to use its mandate to pursue a “healing process” as the island recovers from decades of war. Sri Lanka’s new parliament is set to convene Thursday after Sri Lankan President Mahinda Rajapakse’s allies won just short of a sweeping […]