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Vietnam trade delegation visits Sri Lanka
June 05, 2010 (LBO) – A trade delegation from Vietnam headed by the country’s vice trade minister will visit Sri Lanka next week and also form a joint business council with the island’s Ceylon Chamber of Commerce. In the delegation would be representatives from Vietnam National Coal-Mineral Industries group, a mining, exploration mineral trading and […]
Sri Lanka told India ready for common standards to smoothen trade
June 05, 2010 (LBO) – India is ready to improve access for Sri Lankan goods and services to its markets by creating mechanisms like common standards and recognizing professional certifications, an Indian diplomat said. “Often, it is stated that the FTA did not address non-tariff barriers (NTBs) which restrict market access to India. Of course […]
Sri Lanka shut India out of Tri-nations series
HARARE, June 5, 2010 (AFP) – India were shut out of the Wednesday’s Tri-nations final here Saturday when Dinesh Chandimal led Sri Lanka to victory with just 10 balls to spare. India needed a win to stay in the tournament, which would have given them them a slender chance to play in the final on […]
Sri Lanka to allow foreigners in domestic league
June 5, 2010 (AFP) – Sri Lanka plans to welcome foreign players to compete for the first time for local teams in a revamped Twenty20 format, a top administrator said Saturday. Modelled on the glitzy Indian Premier League (IPL), the new format is also aimed at attracting overseas sponsorship, Sri Lanka’s chief cricket selector, Aravinda […]
Sri Lanka aims for investment grade rating by 2013: CB Governor
June 05, 2010 (LBO) – Sri Lanka is aiming to push its speculative sovereign rating to investment grade by 2013 by fixing government finances, keeping inflation low and growth high, Central Bank Governor Nivard Cabraal said. Sri Lanka was downgraded a notch from its original rating as the country went on a deficit spending and […]
Sri Lankan stocks close at record high, up 0.51-pct
June 04, 2010 (LBO) – Sri Lankan stocks closed at a new high Friday, boosted by gains on index heavy shares, with Nations Trust Bank (NTB) and Pan Asia Banking Corporation (PABC) shares were heavily traded, brokers said. Aitken Spence closed at 1,555.00 rupees, up 3.25, Hayleys closed at 300.00 rupees, down 75 cents, Hemas […]
Sri Lanka tea prices seen bottoming out
June 04, 2010 (LBO) – Sri Lankan tea prices recovered this week after falling sharply in recent Colombo auctions prompting brokers to say the market appears to have bottomed out. Fears that heavy rains could reduce crops in the southern cultivation areas which produce the bulk of national output have also subsided as rains have […]
Retail Foray
June 04, 2010 (LBO) – Two investment companies in Sri Lanka’s Carson group have bought into unlisted Softlogic Holdings as part of a foray into the retail sector seen as having good growth prospects with the end of a war. Ceylon Guardian Investment Trust said it bought a 4. 3 percent stake in Softlogic Holdings […]
Sri Lanka and India can get economically closer: president
June 04, 2010 (LBO) – Sri Lanka and India has an opportunity to move towards closer economic ties as the end of a 30-year war opened up new opportunities, President Mahinda Rajapaksa said. “We have a common heritage in trading with each other and the rest of the world,” President Rajapaksa told a business forum […]
Obama sets trip to India, pledges ties
WASHINGTON, June 4, 2010 (AFP) – US President Barack Obama set a visit to India in November as he pledged Thursday to push forward ties between the world’s two largest democracies as part of his busy diplomatic agenda. The United States also offered full support for India’s role in Afghanistan after high-level talks in Washington, […]
Sri Lankan airline chief calls for fully liberalized skies with India
June 04, 2010 (LBO) – Sri Lanka and India should fully liberalize air services within the two countries, further strengthen links between them and set an example to South Asia, the head of the island’s state-run national carrier said. India then allowed private airlines to fly to Colombo and other South Asian countries. Sri Lankan […]
Sri Lanka ERI takes control of fabric manufacturer
June 04, 2010 (LBO) – Sri Lanka’s Environmental Resources Investment, an investment holding company, has bought control of fabric manufacturer South Asia Textile Industries Lanka for 710 million rupees, according to stock exchange filings. The statement said SATL has had “positive results” from its inception and annual sales of 3.6 billion rupees in 2007 and […]