Category: Industry
Interest Limit
Jan 04, 2010 (LBO) – Sri Lanka’s Central Bank said it has raised the ceiling on interest rates paid by registered finance companies and also allowed them to pay extra interest to senior citizens over 60 years from January 1. In revising the interest rates, the Monetary Board has considered the declining trend in market […]
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 […]
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 “We will not be held back by threatened economic sanctions or withdrawn trade concessions by those who seek strategic interference in the national affairs of […]
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 […]
Fickle Pricing
Dec 30, 2009 (LBO) – The Sri Lanka unit of Indian Oil Corporation said it is likely to make losses on petrol sales after the dominant state-owned oil refiner slashed retail prices barely a month ahead of presidential polls. Last month on petrol sales we made a profit of one rupee per litre, said K […]
Gas Call
Dec 30, 2009 (LBO) – The Sri Lankan unit of the Shell gas multinational said it was holding domestic prices of liquid petroleum gas cylinders despite higher import costs as the government had cut taxes. The announcement came as the Trade and Consumer Affairs Ministry said the other supplier Laugfs Gas will cut its prices […]
’s Jayasuriya dropped for Bangladesh tri-series
December 30, 2009 (AFP) – The world’s most experienced one-day batsman, Sanath Jayasuriya, has been axed from next month’s limited-overs tri-series in Bangladesh, Sri Lanka Cricket said Wednesday.Jayasuriya, 40, was not named in Sri Lanka’s 15-man squad for the tri-series as selectors made changes after recent defeats to India, the third team taking part in […]
‘s biggest
JAKARTA, December 30, 2009 (AFP) – China and Southeast Asia establish the world’s biggest free trade area (FTA) on Friday, liberalising billions of dollars in goods and investments covering a market of 1.7 billion consumers. Eight years in the making, the ASEAN-China FTA will rival the European Union and the North American Free Trade Area […]
Sri Lanka Brandix says price cuts helped apparel sales
Dec 30, 2009 (LBO) – Sri Lanka’s Brandix group, which supplies top Western fashion brands, said price cuts had helped increase apparel sales despite a global slump in demand. Prices across all categories from men’s underwear, commodity, fashion and best price panties, fashion bras, lounge wear and woven pants, had fallen by 10 to 27 […]
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 […]
Slow Connections
Dec 29, 2009 (LBO) – Sri Lanka is the most uncertain market among South Asian countries for new telcos, while Pakistan has the most transparent process for entry and spectrum, despite high fees, a study has found.“Pakistan is the most expensive to enter in South Asia, but it’s the most transparent,” Helani Galpaya, chief operating […]
Sri Lanka draws more cruise ships
Dec 29, 2009 (LBO) – The Sri Lanka Ports Authority said the cruise ship ˜Discovery’ of the Voyages of Discovery cruise line called at Colombo port as part of a cruise tourism revival with the end of the island’s ethnic war. The cruise line is now owned by UK-based All Leisure Group which is also […]