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Sri Lanka economy to grow 3.5-pct in 2009: CB Governor
Jan 04, 2010 (LBO) – Sri Lanka’s economy is expected to grow by 3.5 percent in 2009 after it slowed down owing to global recession, with revenue picking up and exports seen recovering, Central Bank governor Nivard Cabraal said. Cabraal said the full integration of the north and east which had been affected by war […]
Sri Lanka East safe for tourists: Britain
Jan 03, 2009 (LBO) – Britain said it is no longer advising its citizens against travel to Sri Lanka’s East, but the north continued to be out of bounds though a 30-year war in the area ended last May. Britain’s foreign and commonwealth office (FCO) said it had removed an ‘all but essential travel’ tag […]
Small is big at Delhi auto show
NEW DELHI, January 3, 2010 (AFP) – Small will be big at an Indian auto show when the world’s leading manufacturers unveil a slew of compact cars designed for one of the world’s fastest growing markets. AutoExpo 2010, which begins on Tuesday and runs until January 11, is expected to be the biggest ever, featuring […]
Sri Lanka dismisses EU trade move
January 1, 2010 (AFP) – Sri Lanka’s president on Friday dismissed the European Union’s suspension of preferential trade status to the island, saying his government would resist foreign “strategic interference”. “We will not be held back by threatened economic sanctions or withdrawn trade concessions by those who seek strategic interference in the national affairs of […]
Sri Lankan presidential contender woos Tamil voters
January 2, 2010 (AFP) – Sri Lanka’s former military chief Sarath Fonseka took his presidential campaign Saturday to the ethnic heartland of the Tamil Tiger rebellion he helped crush last year. The retired four-star general, who is seen as the main challenger to President Mahinda Rajapakse in polls slated for January 26, visited the northern […]
Harbour Move
Jan 01, 2010, (LBO) – The Sri Lanka Ports Authority (SLPA) said it has expanded facilities for bunkering or ship fuel at Colombo port with the addition of another berth for oil tankers that will reduce delays. Colombo Port’s New North Pier, which has been developed as a multi-purpose berth, handled its first oil tanker […]
Sri Lanka govt deceiving people on taxes: TI
Jan 01, 2010 (LBO) – Sri Lanka’s government should ensure greater public awareness of taxes it imposes on the people and not deceive them through lack of transparency, the local arm of an international watchdog has said. Provisions which create the deception that a government can raise money to spend without taxing the people should […]
Sri Lanka central bank defends controversial note
Dec 31, 2009 (LBO) – Sri Lanka’s central bank has defended a controversial 1,000 rupee note bearing the image of president Mahinda Rajapaksa, ahead of presidential polls, which had come under fire from the opposition and other critics. Critics had slammed the note as an ‘election handbill’, and that a group of soldiers at the […]
Sri Lanka president accused of illegal campaign funding
December 31, 2009 (AFP) – Anti-graft campaign group Transparency International accused Sri Lankan President Mahinda Rajapakse on Thursday of using state property and public cash to illegally finance his re-election bid.The Sri Lanka branch of the Berlin-based watchdog said armed forces, police and public servants were being deployed to campaign for the ruling party in […]
Sri Lankan shares close up 0.86-pct
Dec 30, 2009 (LBO) – Sri Lankan shares ended an eventful 2009 at a record high of 3,385.55 points, up 0.86 percent (28.96 points) Wednesday, and up 128 percent for the year, outperforming all other exchanges except Russia, brokers said.Hatton National Bank closed at 170.25 rupees, up 2.25, Sampath Bank closed at 204.25 rupees, up […]
Sri Lanka cuts lending rate for farmers ahead of polls
Dec 30, 2009 (LBO) – Sri Lanka™s Central Bank said it will slash lending rates for farmers with effect from January 1, 2010 barely a month ahead of crucial presidential elections. Total loans amounting to about 10 billion rupees are disbursed each year under this loan scheme. Under the Agro Livestock Development Loan Scheme the […]
Broadband Probe
Dec 30, 2009 (LBO) – Sri Lanka’s telecom regulator has begun investigations on broadband speeds advertised by telcos after a private research study found them exaggerating available bandwidth to surfers, a senior official said. Sri Lankan telcos deliver 75 percent of advertised speeds in the last mile of the network. LIRNEAsia said broadband providers in […]