Category:
Sri Lanka hiked electricity tariffs not to apply to low users
May 01, 2013 (LBO) – An electricity tariff hike from April will not apply to users below 60 units and users up to 180 units will get a lower increase than determined earlier, President Mahinda Rajapaksa has told a May Day rally in Colombo. Sri Lanka raised power tariffs from April 2012 with users up […]
Sri Lanka cigarette sales drop 14-pct in weaker economy
May 01, 2013 (LBO) – Sri Lanka’s Ceylon Tobacco Company Plc said cigarette sales dropped 14 percent in the March 2013 quarter from a year earlier, but profits dropped only 1.8 percent to 1,463 million rupees helped by wider margins. The firm reported earnings per share of 7.81 rupees for the quarter. CTC, a unit […]
US builds public market, bus station in Eastern Sri Lanka
May 01, 2013 (LBO) – The United States has built a public market and bus station in Sri Batticaloa in Sri Lanka’s war torn Eastern Province which will help economic activities in the area, the American embassy in Colombo said.The newly constructed market and bus station in Pullumalai will help economic activities and also boost […]
‘s BB- sovereign rating confirmed: Fitch
Apr 23, 2013 (LBO) – Sri Lanka’s ‘BB-‘ sovereign rating has been confirmed with a stable outlook by Fitch on tighter monetary policy and corrective measures to stem balance of payments troubles but warned of rising foreign debt. Sri Lankan authorities expected 7.5 percent and 8.0 percent. Fitch said the government forecast of higher growth […]
Management
Apr 30, 2013 (LBO) – Sri Lanka’s Aitken Spence Plc said it had signed 15 year deal to manage ports in Fiji and will invest 10.5 million Fiji dollars (5.9 million US dollars) in the project. Aitken Spence also ports operations in South Africa.The group has interest in shipping, leisure and power. Aiken Spence said […]
‘s top tourist market in East Asia
Apr 30, 2013 (LBO) – China has overtaken Japan as Sri Lanka’s top tourist market in East Asia generating more tourists from around September 2012, official data show. Economic ties with China have been growing in recent years and there are also some Chinese expatriates working in projects in the island.Tourist promotions targeting China has […]
BengalLine
Apr 30, 2013 (LBO) – Sri Lanka’s Dialog Axia, its parent Telekom Malaysia, UK’s Vodafone and Middle Eastern operators are teaming up to build an 8,000 kilometer undersea cable system, consortium partner Reliance Industries Limited of India said.The cable system is expected to be operating by end 2014. The ‘Bay of Bengal Gateway’ submarine cable […]
Sri Lanka may reduce electricity tariff increase: report
Apr 30, 2013 (LBO) – Sri Lanka may moderate an increase in electricity tariff imposed from April 2013 amid growing opposition, a media reports said. Sri Lanka’s privately owned The Daily Mirror newspaper quoted power ministry secretary M M C Ferdinando as saying there may be possibility of cutting the tariffs. The Lankadeepa newspaper said […]
‘s inflation eases to 6.4-pct in April
April 30, 2013 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 6.5 percent in April 2013, from a year earlier, easing down from 7.5 percent in March, the state statistics office said.The Colombo Consumer Price Index fell 0.5 percent or 0.8 points during the month to 170 points during the month helped by a […]
Sri Lanka stocks flat
Apr 29, 2013 (LBO) – Sri Lanka’s stocks closed barely changed Monday despite foreign investor interest in banking stocks, brokers said. The benchmark Colombo All Share Index closed 05.45 points higher at 5,967.62 up 0.09 percent and the S&P SL 20 Index closed 03.78 points higher at 3,363.14 up 0.11 percent. Turnover was 846 million […]
Sri Lanka tourist arrivals up 11.6-pct in February
Apr 29, 2013 (LBO) – Tourist arrivals to Sri Lanka rose 11.6 percent in February 2013 to 93,232 from a year earlier, helped by gains in Europe and East Asia, official data showed. Malaysian visitors rose 27.9 percent to 1,973 while tourists from Singapore dropped 23 percent to 1,030 and those from Taiwan fell 67 […]
SriLankan Airlines to boost cargo, cut costs with new Airbus aircraft
Apr 29, 2013 (LBO) – State-run SriLankan Airlines expects to boost freight volumes especially on long haul flights as well as cut running costs, with the acquisition of 13 wide-body Airbus aircraft, chief executive Kapila Chandrasena said.In the year to March 2012, SriLankan’s passenger factor rose to 79.1 percent from 76.7 percent a year earlier, […]