Category: Other
Sri Lanka raises taxes on foreign milk powder
May 04, 2012 (LBO) – Sri Lanka’s finance ministry said it has raised taxes on imported milk powder by a further 15 percent or 92 rupees a kilogram, pushing up prices further as domestic dairy farmers threw away fresh milk saying there was no demand. Import taxes work by inflicting harm of the poorest sections […]
Sri Lanka environment seen paying price of rapid growth
Apr 30, 2012 (LBO) – Sri Lanka’s rapid economic growth in recent years has come at the cost of serious environmental degradation with outdated laws and existing rules not properly implemented, an expert said. Gunawansa noted how in Sri Lanka often environmental impact assessments, known as EIAs, are not done with projects passed either owing […]
Sri Lanka™s March tea output hit by bad weather
April 26, 2012 (LBO) – Sri Lanka™s tea output slipped 22.6 percent in March, over the same period 2011, due to bad weather conditions, a tea broking firm said. Crop figures released by the state-run Tea Board showed output fell to 27.21 million kilos in March, as against 35.13 million kilos recorded in March a […]
Sri Lanka awards another construction deal to China
Apr 20, 2012 (LBO) – China’s Sinohydro Corp. has won a 252 million US dollar contract to build a dam providing water and hydropower in north-central Sri Lanka. A statement said the decision to award the contract to build the headworks of Moragahakanda Reservoir to the Chinese state-owned hydropower engineering and construction company was made […]
Sri Lanka tea prices still lower than last year in dollar terms
April 20, 2012 (LBO) – Sri Lankan tea prices rose again at this week’s auction after rising in the previous sale but remain below last year’s levels in US dollar terms after a sharp rupee depreciation. “Medium and low grown teas have shown a growth year-on-year in rupee terms,” Forbes & Walker tea brokers said. […]
Sri Lanka poultry industry margins to narrow
Apr 19, 2012 (LBO) – Margins in Sri Lanka’s poultry industry would narrow amid higher capacity but per person chicken consumption would continue to grow, a top poultry firm in the island has said. Three acre farms, a unit of Ceylon Grain Elevators, which is Sri Lanka’s largest day old chick producer said per capita […]
Maldivian President calls for early polls in July 2013
April 18, 2012 (LBO) – Maldivian President Mohamed Waheed on Wednesday called for presidential elections to be held ahead of time, in July 2013, after his favourites won two by-elections over the weekend. Waheed, who is accused by his predecessor of seizing power in a military-backed coup, said Saturday’s elections confirmed the democratic credentials of […]
Sri Lanka tea prices rise again
April 12, 2012 (LBO) – Prices of Sri Lanka’s low grown teas, which account for the bulk of the crop, rose again at last week’s auction and are now well above last year’s levels, brokers said. “In view of the present adverse weather conditions, global crop production looks bearish with Kenya, Sri Lanka and North […]
Sri Lanka issues tsunami evacuation order
Apr 11, 2012 (LBO) – Sri Lanka has issued a tsunami evacuation asking residents in coastal areas to move to safer areas inland, following a strong earthquake in Indonesia. The department of meterology said residents in Eastern and Southern coastal areas should move inland quickly. Tsunami waves are expected to first hit the Eastern and […]
Sri Lanka coastal residents evacuate on tsunami warning
Apr 11, 2012 (LBO) – Residents of Sri Lankas’ coastal regions rushed to safety after authorities issued an evacuation order following a strong earthquake in Indonesia which generated a tsunami. . Sri Lanka’s department of meterology said residents in Eastern and Southern coastal areas should move inland quickly. An eyewitness said residents in Galle, a […]
Indian Ocean tsunami watch cancelled
April 11, 2012 (LBO) – A tsunami watch issued by the Pacific Tsunami Warning Center in Hawaii for the Indian Ocean, which prompted Sri Lanka to ask coastal residents to move to high ground, has been cancelled. Residents of Sri Lankas’ coastal regions rushed to safety after authorities issued the evacuation order following a strong […]
Sri Lanka may see tsunami waves after 4.00 pm: PTWC
Apr 11, 2012 (LBO) – A tsunami watch has been issued for many areas in the Indian Ocean following an earthquake, by US authorities in Hawaii, who said waves could reach Sri Lanka shortly after 4. 00 pm if a tsunami had been generated. In December 2004 an tsunami from a much larger quake (9. […]