Category: Industry
Standard Measures
Jan 26, 2011 (LBO) – The Sri Lanka chapter of US based Chartered Financial Analysts (CFA) is promoting the adoption of Global Investment Performance Standards (GIPS) which is useful to attract foreign capital, an official said. The standards are checked by a ‘verifier’ usually an auditor. Rajiv Casie Chitty, the GIPS chair at CFA Sri […]
Sri Lanka cuts taxes on milk powder
Jan 25, 2011 (LBO) – Sri Lanka has cut taxes on imported milk powder from 50 rupees a kilogram to 28 rupees as global commodity prices surged, a finance ministry official said soon after taxes on petrol were cut to maintain prices. Food commodities, base metals, minerals and precious metals have started to bubble again. […]
Store Club
Jan 25, 2011 (LBO) – Sri Lanka’s Odel a high end retailer said it had joined a global department store association founded in Switzerland which whose members have combined sales of 60 billion US dollars. Intercontinental Group of Department Stores (IGDS) has 33 members in 31 countries, Selfridges, Saks 5th Avenue, Printemps, Parkson, Beco, FEDS, […]
Sri Lanka tourist office in home stay push
Jan 25, 2011 (LBO) – Sri Lanka Tourist board wants to promote home stays giving the opportunity to a broader section of the community to participate in the sector and get jobs, an official said. Sri Lanka’s tourism promotion office is launching a ‘home stay and bungalows’ program as tourist arrivals rose 46 percent last […]
Sri Lanka second hotel eyed by Shangri-La: report
Jan 24, 2011 (LBO) – Hong Kong based Shangri-La hotels is looking for a coastal property to build a resort hotel, after buying state land in Sri Lanka’s capital Colombo for a hotel, shopping and apartment complex, a media report said. Bloomberg, a newswire quoting Treasury secretary P B Jayasundera said Shangri La was looking […]
Loss Adjustment
Jan 22, 2011 (LBO) – Sri Lanka’s Indian Oil Corporation unit says it is losing 9 rupees a liter on petrol and 21 rupees a liter on diesel by selling fuel at government controlled prices as world commodity prices continued to rise. In 2004 Sri Lanka jettisoned pricing formula and printed money heavily to fix […]
Deep Range
Jan 22, 2011 (LBO) – Sri Lanka’s state marine research agency will buy a survey and research vessel from Taiwan to deepen knowledge and also upgrade a technical college to ‘ocean university’ status, a government minister said. The state National Aquatic and Research Agency (NARA) had been given the nod by the cabinet of minister […]
‘s Murali to quit after World Cup
January 21, 2011 (AFP) – Record-breaking Sri Lankan spinner Muttiah Muralitharan said Friday he would retire from international cricket after the 2011 World Cup. “This World Cup will be my last outing,” Muralitharan, 38, told reporters on the sidelines of a training session in Colombo. “I am retiring totally from international cricket thereafter. ” The […]
” to test Cup venues
January 21, 2011 (AFP) – Sri Lanka are eager to test the island’s new cricket venues ahead of next month’s World Cup, skipper Kumar Sangakkara said Friday. Sri Lanka, who were runners-up in the last Cup in 2007, will stage 12 matches of the showpiece event, in Hambantota, Pallekele and Colombo. The remaining games will […]
Sri Lanka exports surge in Nov
Jan 21, 2011 (LBO) – Sri Lanka’s exports surged 36 percent in November 2010 to 833 million US dollar, led by industrial exports which grew 40. 8 percent from a year earlier to 633 million US dollars, according to official data. The surge helped exports to grow 3. 7 percent to 7.33 billion US dollars […]
Chip Growth
Jan 21, 2011 (LBO) – Sri Lanka’s computer chip consumption will grow more than 25 percent in 2011 driven by growing information technology use and government measures to push IT literacy, an industry official said. In 2010 Sri Lanka is estimated to have used 260,000 chips, according to data by IDC, a market intelligence consultancy, […]
Naval Rescue
SEOUL, January 21, 2011 (AFP) – South Korean navy commandos Friday stormed a ship hijacked by Somali pirates in the Indian Ocean, rescuing all the 21 crew and killing eight pirates, military officials said. The SEAL special forces boarded the South Korean ship before dawn, freeing all the hostages and killing the pirates in cabin-to-cabin […]