Category: Industry
Sri Lanka’s oil mafia spreads false propaganda; no fuel shortage: Power Ministry
May 09, 2015 (LBO) – Sri Lanka’s Power and Energy Ministry says there is no fuel shortage in the country and requests people not to be misled by false propaganda.Oil mafia earlier spread a false statement saying oil prices will be increased shortly and now they are pretending an oil shortage in the country, the […]
Sri Lanka tourist arrivals up 8.5-pct in April 2015; India top gainer
May 08, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 8.5 percent to 122,217 in April 2015, from a year earlier driven by growth in the Indian and Chinese markets, official data shows. Top generating market for April, India rose 34 percent to 23,048 from a year earlier while recording a 23 percent rise in […]
Sri Lanka’s energy sector pricing a crucial factor in country’s competitiveness: Economist
May 08, 2015 (LBO) – Sri Lanka’s energy sector price structure and availability plays a crucial part in the economy’s competitiveness, a senior economist said.“The price and availability of energy is a crucial determinant of the competitiveness of an economy and there is also a nexus between the power and energy sector and overall development […]
Sri Lanka and Russia to maintain strong bonds and expand bilateral cooperation
May 08, 2015 (LBO) – Sri Lanka and Russia should continue to maintain their strong friendship and close bilateral ties, irrespective of international trend,President Maithripala Sirisena had said.This was discussed when Ambassador of Russia to Sri Lanka, Alexander A Karchava, called on the President at the Presidential Secretariat on Thursday (May 07), the president office […]
‘s FCID is politically biased: Gammanpila; Police denies
May 07, 2015 (LBO) – Sri Lanka’s Police Financial Crimes Investigation Division is a mere political tool that certain politicians get hammered, provincial councilor Udaya Gammanpila said.Gammanpila, the General Secretary of Pivithuru Hela Urumaya, told reporters Thursday that the newly established division is politically biased. “There is nothing in the world history; choosing complaints to […]
Sri Lanka’s President Sirisena said special attention should be paid for educational reforms
May 07, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena says that special attention should be paid to the reforms to be done in the education sector taking into account today’s commercialized society. He was quoted in a statement saying that separating schools as Sinhala, Tamil and Muslim is not suitable in the current social […]
Sri Lanka’s vehicle registration up due to low interest leasing facilities and Yen depreciation
May 07, 2015 (LBO) – Sri Lanka’s vehicle registration grew 31.5 per cent to 429,556 in 2014, backed by low interest leasing facilities, Japanese Yen depreciation against Sri Lankan rupee, rise of hybrid vehicle imports and increase in of motor cycle registration, the Central Bank said. “The number of new vehicles registered during 2014 increased […]
Sri Lanka’s mobile internet usage grows 85.8-pct in 2014: CB
May 07, 2015 (LBO) – Sri Lanka’s total internet connections grew 68.4 per cent during 2014 largely supported by growth in mobile internet usage, a Central Bank report said. “Total internet connections grew by 68.4 per cent during 2014 raising internet penetration (connections per 100 persons) to 16.4,” a recent Central Bank annual report said. […]
Sri Lanka postal service losses increase in 2014 despite tariff increase: Central Bank
May 06, 2015 (LBO) – Sri Lanka’s state-run postal service lost 3.0 billion rupees in 2014 up 4.4 per cent from a year earlier, due to use of alternate modes of communication and unchanged operational structure even though revenue rose 11 per cent to 6.6 billion rupees. “The Department of Posts (DOP) continued to experience […]
‘s Ceylon Petroleum Corporation record Rs. 1.7mn profit in 2014
May 06, 2015 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) reported a 1.7 million rupee profit in 2014 recording a turnaround from losses in 2013, the Central Bank said. “As per the provisional financial statements, CPC reported a profit of 1.7 billion rupees in 2014 compared to a loss of 7.9 billion rupees […]
Sri Lanka’s fiscal deficit target for 2015 highly unachievable: IMF
May 6, 2015(LBO) – Sri Lanka’s 2015 deficit target will likely be very difficult to reach even with relatively optimistic assumptions regarding revenue gains, International Monetary Fund said in a statement.“The fiscal deficit is a key concern for 2015 and the medium-term,” International Monetary Fund said. “Further, in the absence of new measures to create […]
Sri Lanka’s rubber production declines for third consecutive year: CB
May 06, 2015 (LBO) – Sri Lanka’s rubber production declined for the third consecutive year with weak international demand and adverse weather conditions affecting the industry, the Central Bank said.“Rubber production dropped by 24.4 per cent to 98,573 metric tons in 2014 from 130,420 metric tons in 2013,” the Central Bank 2014 Annual report said. […]