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Sri Lanka imports most vehicles from India, Japan second
Apr 25, 2014 (LBO) – India was the source of 72 percent of vehicles and parts imported to Sri Lanka in 2013, with second coming second, with 20 percent, the Ceylon Chamber of Commerce. In terms of value India was 45 percent and Japan 38 percent, the chamber said, citing a study by its economic […]
Sri Lanka parliament approves tax breaks for Crown, JKH resorts
April 25, 2014 (LBO) – Sri Lanka’s parliament has approved tax breaks for integrated resorts by Australia’s Crown group and Colombo-based John Keells group.The projects have drawn opposition fire for having gaming facilities with tax breaks. Sri Lanka’s Bhuddist nationalist JHU voted against, the proposals, reports said. Government ministers have insisted that no approvals have […]
‘s interest: envoy
Apr 25, 2014 (LBO) – Economic sanctions on Sri Lanka are not in the interests of his country, and movers of a UN resolution are expecting progress which would make such questions redundant, UK’s envoy to Colombo said. “Sanctions are not currently an issue,” High Commissioner (ambassador) John Rankin told an LBR-LBO CEO forum on […]
Sri Lanka shares close up 0.1-pct
Apr 24, 2014 (LBO) – Sri Lanka’s shares end 0.09 percent higher with telco and diversified stocks gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 5.36 points higher at 6,178.13 up 0.09 percent. The S&P SL20 closed 21.01 points higher at 3,394.56, up 0.62 percent. Turnover was 1.13 […]
UK nurse leaves Sri Lanka after tattoo jail ordeal
COLOMBO, April 24, 2014 (AFP) – A British nurse jailed in Sri Lanka for sporting a Buddha tattoo left the country Thursday after suffering what she says was sexual and other harassment by prison officers.Naomi Coleman said she was exhausted but relieved to be heading home after she was arrested at the main international airport […]
UK warns citizens travelling to Sri Lanka with tattoos
Apr 24, 2014 (LBO) – UK has warned citizens travelling to Sri Lanka about having tattoos of the Lord Bhudda following the deportation of a British tourist, barely three weeks after warning about spiked drinks at Southern resorts. “British nationals have been refused entry to Sri Lanka or faced deportation for having visible tattoos of […]
Expansion Plan
Apr 24, 2014 (LBO) – Sri Lanka Telecom said it would invest 415 million US dollars to expand its network, build data centres, and expand its pay TV and services to businesses over the next two years.SLT said it had invested 1.3 billion US dollars since becoming a BOI company with 485 million going for […]
Short List
Apr 24, 2014 (LBO) – Sri Lanka has been short listed as a contender for the ‘Offshoring Destination of the Year Award’ in Europe, which the by the European Outsourcing Association, made up of over 1000 firms from eight countries in Europe. “Sri Lanka offers a very compelling value proposition for European businesses as an […]
Sri Lankan Airlines inks deal to maintain IndiGo aircraft
Apr 24, 2014 (LBO) – State-run SriLankan Airlines said it had struck a long-term maintain repair and overhaul (MRO) deal with IndiGo, a fast growing low cost carrier in India which has a fleet of 78 Airbuses. India has growing private budget airline sector after the state ended a monopoly that prevented citizens from providing […]
New Zealand hikes interest rates again
WELLINGTON, April 24, 2014 (AFP) – New Zealand’s central bank lifted interest rates for the second time in as many months on Thursday, saying it was necessary to contain inflation as an economic recovery gains momentum.The Reserve Bank of New Zealand raised the official cash rate (OCR) 0.25 points to 3.0 percent in a well-flagged […]
Sri Lanka Treasuries slightly down
Apr 23, 2014 (LBO) – Sri Lanka’s 3 and 12 month Treasuries edged lower at Wednesday’s auction, with the 6-month yield flat the state debt office said. The 3-month yield fell 03 basis points to 6.58 percent, the 6-month yield was flat at 6.79 percent and the 12-month yield fell 01 basis point to 7.02 […]
Sri Lanka shares end down 0.3-pct
Apr 23, 2014 (LBO) – Sri Lanka’s shares end 0.31 percent lower with tobacco and diversified stocks losing ground, brokers said. Bukit Darah closed 30.50 rupees lower at 541.00 rupees and Ceylon Tobacco Company closed 13.00 rupees lower at 1,105.20 rupees, contributing most to the index drop. Lion Brewery Ceylon closed 9.90 rupees lower at […]