Author: lbostgadmin
Sri Lankan Airlines re-starts some European flights
Apr 21, 2010 (LBO) – Sri Lankan Airlines said it has re-started flights to London, Paris and Milan after European aviation authorities relaxed restrictions, and is planning extra flights for stranded passengers. “However, passengers should also call ahead several hours prior to flight departure to check on whether their flight is operating as scheduled,” the […]
‘s water crisis laid bare by clash with US cola giants
NEW DELHI, April 21, 2010 (AFP) – A pollution fine for Coca-Cola and an order for PepsiCo to cut water use at factories in India have highlighted an intensifying conflict between big business and farmers over natural resources. Last month, a report commissioned by the southern state of Kerala ordered Coca-Cola to pay 47 million […]
Policy Debate
Apr 21, 2010 (LBO) – Dr Harsha de Silva has been an exemplary policy intellectual. He had the greatest impact in contributing to the shifting of the frame for discussing inflation in Sri Lanka from the misguided focus on imported inflation to one that correctly places the actions of the Central Bank and the now […]
Bailout Tax
LONDON, April 21, 2010 (AFP) – The International Monetary Fund has proposed two new global taxes on banks and other financial institutions to cover the cost of future bailouts, the BBC reported. The measures would see all institutions pay a bank levy as well as a further tax on profits and pay, which would aim […]
Harbour Moves
Apr 21, 2010 (LBO) – Dredging and breakwater construction on a new harbour being built next to Sri Lanka’s Colombo port is on schedule, said a senior official of the Asian Development Bank which is funding the work. But talks on a contract to design and build the new deep-water port’s first container terminal were […]
Box Trade
Apr 21, 2010 (LBO) – Cargo volumes at a Colombo port private container terminal run by an associate firm of John Keells Holdings hit a new monthly high in March, as transshipment trade in the region recovered. But transshipment cargo yields lower margins than domestic import-export containers, , analysts said. The conglomerate John Keells Holdings […]
Sri Lanka stocks close 0.41-pct up, hotel stocks continue rise
Apr 21, 2010 (LBO) – Sri Lankan stocks hit a new high Wednesday as institutional interest on index heavy banking stocks pushed the market up, while high retail interest in hotel stocks sent turnover past two billion rupees, brokers said. The All Share Price Index closed at 4,038. 89, up 16.52 points, while the Milanka […]
Sri Lanka Treasuries yields ease
Apr 22, 2010 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction with the 3-month yield falling 06 basis points to 8. 46 percent despite a higher than maturing volume of bills being sold, the debt office said. The debt office sold 2.3 billion rupees of 3-month bills, 6. 9 billion rupees of 6-month […]
Sri Lanka must cut budget deficit, inflation: ADB
Apr 20, 2010 (LBO) – Post-war Sri Lanka’s main priorities in accelerating economic growth would be to rein in ballooning budget deficits and inflation, the Asian Development Bank said. The government is expected to introduce reforms to broaden the tax base and reduce tax exemptions in the 2011 budget in order to increase revenue, said […]
”: Central Bank
Apr 20, 2010 (LBO) – Sri Lanka’s state enterprises should be fixed as an “urgent policy priority” with a “strong reform programme” the island’s central bank said as seven state entities lost nearly 50 billion rupees in 2009 which is equal to one percent of gross domestic product. Losses in state enterprises and borrowing from […]
Sri Lanka gets US support for business in former war zone
Apr 20, 2010 (LBO) – The US Agency for International Development has tied up with Sri Lanka’s private sector to support new businesses in the former war zone that will generate employment, the aid agency said. The USAID Public-Private Partnerships for Northern and Eastern Sri Lanka Program is expected to create the equivalent of 5,000 […]
‘s trial to resume after assembly opens
April 20, 2010 (AFP) – The court martial of Sri Lanka’s former army chief Sarath Fonseka was on Tuesday adjourned until after the opening of the country’s new parliament, in which he won a seat this month, officials said. The three-judge military court postponed the case until May 4 after a brief hearing on Tuesday, […]