Category: Industry
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. […]
Sri Lanka to pursue CEPA only if advantageous to us: Minister
Apr 30, 2015 (LBO) – Sri Lanka will go ahead and sign the Comprehensive Economic Partnership Agreement (CEPA) with India only if it is deemed beneficial to us, Harsha de Silva, Deputy Minister of policy planning and economic development said.“We have to be convinced that this agreement is beneficial to Sri Lanka.I don’t represent the […]
‘s new rulers confident of regaining GSP Plus next year: Harsha de Silva
Apr 30, 2015 (LBO) – Sri Lanka’s new administration is confident about retrieving the GSP plus trade concessions by mid or late next year, Harsha de Silva, Deputy Minister of policy planning and economic development said. “We are trying to get GSP plus back and I am very happy to report to you that we […]
Sri Lanka cricket member clubs & associations urged new rulers to take action against allegation
Apr 28, 2015 (LBO) – Sri Lanka cricket member clubs and associations has decided to notify the President, Prime Minister and Minister of Sports to take action against allegations and impending dangers to Sri Lanka Cricket (SLC). The new administration appoints an interim committee to manage Sri Lanka Cricket and due to that the International […]
Sri Lanka’s outdated oil refinery upgrade to cost US $1.3bn
Apr 28, 2015 (LBO) – Sri Lanka’s Sapugaskande oil refinery which has an outdated oil reefing process will be upgraded at an estimated cost of 1.3 billion US dollars, under 2015 -2025 energy sector development plan, Power and Energy Minister said.“In the energy sector development plan, a refinery upgrading and modernization project, at an estimated […]
Sri Lanka to set up a regulatory body to monitor energy costs: Minister
Apr 27, 2015 (LBO) – Sri Lanka to set up an independent regulatory body to monitor island’s energy institution’s actions and activities and will not give room to pass unreasonable costs to the consumer as it will be scrutinized, a Minister said. “The marketing establishments would not be able to hide their inefficiencies in the […]
Sri Lanka micro apartments to attract property hunters through prices
Apr 28, 2015 (LBO) – Sri Lanka’s micro living arrangements have made increasingly popular among residential property hunters for their affordable prices and attractive features, an online property portal said.According to internal data from local property portal Lamudi, such modest residences particularly those that are offered for rent are some of the most affordable and […]