Author: lbostgadmin
‘s interest: envoy
Apr 25, 2014 (LBO) – Economic sanctions on Sri Lanka are not in the interests of his country, and movers of a UN resolution are expecting progress which would make such questions redundant, UK’s envoy to Colombo said. “Sanctions are not currently an issue,” High Commissioner (ambassador) John Rankin told an LBR-LBO CEO forum on […]
Sri Lanka parliament approves tax breaks for Crown, JKH resorts
April 25, 2014 (LBO) – Sri Lanka’s parliament has approved tax breaks for integrated resorts by Australia’s Crown group and Colombo-based John Keells group.The projects have drawn opposition fire for having gaming facilities with tax breaks. Sri Lanka’s Bhuddist nationalist JHU voted against, the proposals, reports said. Government ministers have insisted that no approvals have […]
Sri Lanka imports most vehicles from India, Japan second
Apr 25, 2014 (LBO) – India was the source of 72 percent of vehicles and parts imported to Sri Lanka in 2013, with second coming second, with 20 percent, the Ceylon Chamber of Commerce. In terms of value India was 45 percent and Japan 38 percent, the chamber said, citing a study by its economic […]
Sri Lanka pick Atapattu as interim coach
COLOMBO, April 25, 2014 (AFP) – Sri Lanka Cricket on Friday named former captain Marvan Atapattu as interim head coach, making him the island nation’s seventh coach in the last four years.Atapattu, 43, was appointed for the tour of England and Scotland starting next month and the subsequent home series against South Africa in July, […]
Sri Lanka stocks end down 0.2-pct
Apr 25, 2014 (LBO) – Sri Lanka’s stocks end 0.17 percent lower with tobacco and diversified stocks losing ground amid thin foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 10.32 points lower at 6,167.81 down 0.17 percent. The S&P SL20 closed 6.59 points lower at 3,387.97, down 0.19 percent. Turnover was […]
New Zealand hikes interest rates again
WELLINGTON, April 24, 2014 (AFP) – New Zealand’s central bank lifted interest rates for the second time in as many months on Thursday, saying it was necessary to contain inflation as an economic recovery gains momentum.The Reserve Bank of New Zealand raised the official cash rate (OCR) 0.25 points to 3.0 percent in a well-flagged […]
Sri Lankan Airlines inks deal to maintain IndiGo aircraft
Apr 24, 2014 (LBO) – State-run SriLankan Airlines said it had struck a long-term maintain repair and overhaul (MRO) deal with IndiGo, a fast growing low cost carrier in India which has a fleet of 78 Airbuses. India has growing private budget airline sector after the state ended a monopoly that prevented citizens from providing […]
Short List
Apr 24, 2014 (LBO) – Sri Lanka has been short listed as a contender for the ‘Offshoring Destination of the Year Award’ in Europe, which the by the European Outsourcing Association, made up of over 1000 firms from eight countries in Europe. “Sri Lanka offers a very compelling value proposition for European businesses as an […]
Expansion Plan
Apr 24, 2014 (LBO) – Sri Lanka Telecom said it would invest 415 million US dollars to expand its network, build data centres, and expand its pay TV and services to businesses over the next two years.SLT said it had invested 1.3 billion US dollars since becoming a BOI company with 485 million going for […]
UK warns citizens travelling to Sri Lanka with tattoos
Apr 24, 2014 (LBO) – UK has warned citizens travelling to Sri Lanka about having tattoos of the Lord Bhudda following the deportation of a British tourist, barely three weeks after warning about spiked drinks at Southern resorts. “British nationals have been refused entry to Sri Lanka or faced deportation for having visible tattoos of […]
UK nurse leaves Sri Lanka after tattoo jail ordeal
COLOMBO, April 24, 2014 (AFP) – A British nurse jailed in Sri Lanka for sporting a Buddha tattoo left the country Thursday after suffering what she says was sexual and other harassment by prison officers.Naomi Coleman said she was exhausted but relieved to be heading home after she was arrested at the main international airport […]
Sri Lanka shares close up 0.1-pct
Apr 24, 2014 (LBO) – Sri Lanka’s shares end 0.09 percent higher with telco and diversified stocks gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 5.36 points higher at 6,178.13 up 0.09 percent. The S&P SL20 closed 21.01 points higher at 3,394.56, up 0.62 percent. Turnover was 1.13 […]