Category: Industry
‘s hospitality industry shows record growth in March
Apr. 20 (LBO) – Sri Lanka’s leisure industry greeted record 54,746 visitors in March, as key western countries warned nationals to avoid traveling to the north east of the country as violence intensified in the region. The tsunami-hit island welcomed 54,746 visitors (up 8.6 percent over 2005) in March, which helped swell arrivals for the […]
Quit Notice
Apr.20 (LBO) – Sri Lanka’s State Banks & Development Minister Wijedasa Rajapakse Thursday resigned his ministry ending a short stint which was surrounded by rumbles of discontent. “I resigned over personal reasons,” Rajapakse told LBO. Rajapakse, who is a President’s Counsel, also resigned as organizer for the Maharagama electorate of the Sri Lanka Freedom Party […]
Sri Lanka’s hospitality industry shows record growth in March
Apr. 20 (LBO) – Sri Lanka’s leisure industry greeted record 54,746 visitors in March, as key western countries warned nationals to avoid traveling to the north east of the country as violence intensified in the region. The tsunami-hit island welcomed 54,746 visitors (up 8.6 percent over 2005) in March, which helped swell arrivals for the […]
Oil For Poor
TEHRAN, Iran, Apr.19 (AFP) – Iran’s President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of their crude production to poor countries at “better prices”, the ISNA news agency reported Wednesday.“Oil producing countries, in particular OPEC members, could determine quotas for poor consumers with better prices,” the […]
New Platforms
Apr.19 (LBO) – Sri Lankan based software firm specializing in securities trading platforms says regulatory changes in the United States and Europe, is expanding the markets for their products. MillenniumIT which started with equities trading software, now offers fixed income securities trading with latest versions catering to commodity trading and futures contracts. In addition to […]
Historic Highs
LONDON, Apr.18 (AFP) – World oil prices hit record peaks on Tuesday above 72.0 dollars in London and close to 71.0 dollars in New York as the market fretted over possible military conflict between the United States and Iran.The price of New York’s light sweet crude hit a historic high of 70.88 dollars per barrel, […]
Get on and play, Gavaskar tells cricket burnouts
NEW DELHI, Apr. 18 (AFP) – Indian great Sunil Gavaskar scoffed Tuesday at suggestions excessive cricket was burning players out, saying the hard grind was part of the honour of representing one’s country. Gavaskar, who now heads the powerful cricket committee of the sport’s world governing body, said he was shocked at players complaining of […]
Agonizing Wait
Apr.18 (LBO) – Sri Lankan banks have asked for extra time to implement a tax on credit card transactions, as the new stamp duty law is riddled with ambiguities. A stamp duty of one percent or Rs10 for every Rs1,000 spent, has kicked in from April 4, throwing banks and credit card users off balance […]
Loco Rent
Apr.17 (LBO) – Sri Lanka’s Department of Railways is planning to rent locomotives from India, Transport Minister A H M Fowzie said Monday. We can rent a one for Rs100,000 a day and earn about Rs150,000 out of it,†Minister Fowzie told LBO. We are currently discussing with the Indian railway consultancy RITES, how this […]
Sri Lanka raises retail fuel prices from midnight
Apr.15 (LBO) – Sri Lanka hikes fuel prices by Rs.8.00 from midnight Saturday after a 10-month lag as world crude oil prices raced to US$ 70 per barrel.Petrol at the pump will cost Rs.88.00, diesel, Rs.58.00 and kerosene Rs.38.50, Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama said. The Rs.8.00 across the board hike also covers […]
New Year Gift
Apr.15 (LBO) – Sri Lanka hikes fuel prices by Rs.8.00 from midnight Saturday after a 10-month lag as world crude oil prices raced to US$ 70 per barrel. Petrol at the pump will cost Rs.88.00, diesel, Rs.58.00 and kerosene Rs.38.50, Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama said. The Rs.8.00 across the board hike also […]
Falling Short
WASHINGTON, Apr. 14 (AFP) – Rising fuel and materials prices and skilled labor shortages are expected to push reconstruction costs for the deadly December 2004 tsunami past 10 billion dollars, a US Congress report said Friday.“Although pledges of 13 billion dollars exceed initial damage estimates of 10 billion dollars, escalating costs may increase the amount […]