Category:
Petro Facility
Jan 03, 2012 (LBO) – Sri Lanka is negotiating a billion dollar facility from an international bank to defray payments for petroleum imports by made state-run Ceylon Petroleum Corporation in 2012, officials said. By October 2011 Sri Lanka had spent 3.6 billion dollars on petroleum imports up 48. 5 percent from a year earlier. A […]
” program: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka will negotiate a “follow up or surveillance” program with the International Monetary Fund with a standby facility ending in December 2011, Central Bank Governor Nivard Cabraal said. Sri Lanka had a 2.6 billion US dollar stand by deal with the International Monetary Fund from May 2009 after the […]
Sri Lanka to grow at 8-pct in 2012, new deal with IMF: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s economy is projected to grow at 8.0 percent in 2012 with a new deal in the offing with the International Monetary Fund, Central Bank governor Nivard Cabraal said. The island economy had grown at about 8. 3 percent in 2011, he said. In 2012 Sri Lanka is targeting […]
Sri Lanka debt to GDP ratio falls to 78-pct: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s debt to GDP ratio had fallen to 78 percent by end-2011 from 82 percent in 2010, Central Bank governor Nivard Cabraal said. The island’s foreign exchange reserves had fallen to 6.0 billion US dollars by the end of 2011 enough to cover 4. 0 months of imports and […]
Sri Lanka stocks up slightly
Jan 02, 2012 (LBO) – Sri Lankan stocks were barely changed Monday with a deal in a bank in which foreigners have been selling out propping up turnover, brokers said. York Arcade Holdings was the most actively traded stock, closing at 30.40 rupees, up 5.20 with 840,700 shares done. Transactions in Hayleys also added to […]
Milestone Machine
Jan 02, 2012 (LBO) – Sri Lanka’s Commercial Bank has connected its 500th automated teller machine as it rapidly expands its network, adding 100 terminals in the past five months or at a rate of 20 a month on average. The newest ATM was opened at Maradana Railway Station in Colombo, under a bank project […]
Sri Lanka among top destinations for 2012: Conde Nast Traveller
Jan 02, 2012 (LBO) – Sri Lanka has been named among the top destinations for 2012 by Conde Nast Traveller, a popular travel magazine after former war-torn areas were opened to tourists. Sri Lanka’s West Coast resorts are popular during the European Winter season when the Eastern coast is hit by a monsoon season. The […]
Mobile Momentum
Jan 02, 2011 (LBO) – Household access to telephones is on par with electricity, television, and radio in Sri Lanka mainly because of the boom in mobile phones, and are set to overtake TV and radio, a new study said. “The key economic benefit of phones is reducing travel,” it said, noting that there was […]
Export Barriers
Jan 02, 2012 (LBO) – Sri Lanka’s fast-growing information communications technology (ICT) industry faces difficulties in hiring skilled staff, finding good office space and accessing fast Internet links, a survey has found. “Poor country visibility as an IT destination, absence of up-to-date technology, and time consuming procedures to obtain services from institution such as the […]
Sri Lanka expects stronger links with ASEAN: foreign minister
Jan 02, 2012 (LBO) – Sri Lanka is looking for stronger economic ties with countries in the Association of South East Asian Nations, foreign minister Gamini Lakshman Peiris said in Colombo. Sri Lanka has also started participating in the ASEAN Region Forum (ARF) to promote security in the region. ASEAN bloc has broken trade barriers […]
Sri Lanka electronic visa system starts
Jan 01, 2012 (LBO) – Sri Lanka has ended a free visa on arrival scheme from today with an electronic authorization system coming online, but anyone who arrives without an e-visa will be able to buy one for 50 dollars, a media report. Sri Lanka gave free visa on arrival to a number of countries […]
Sales growth of 6,500 Indian firms drop to 20% in Jul-Sept
NEW DELHI, (Asia Pulse) – The sales growth of about 6,500 Indian companies declined by 7 percentage points to 20 per cent in the July-September quarter compared to the previous quarter, a study by Assocham has said. “With rising interest rates, the cost of borrowing has increased, investments have dried up and profit margins have […]