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” rating confirmed, foreign debt, deficits high: Fitch
Apr 28, 2014 (LBO) – Fitch Ratings has confirmed a ‘BB-‘ rating on Sri Lanka with a stable outlook on strong economic growth but said state debt was over twice that of similar rated countries and foreign debt three times as much. “The 2014 budget signals commitment to medium-term debt reduction to maintain a gradual […]
‘s EPF, ETF: report
Apr 28, 2014 (LBO) – Sri Lanka is making fresh attempts to prevent private sector workers from withdrawing their retirement contributions once they reach 55 years of age, a media report said.The Sunday Times newspaper quoting an un-named official source said the Finance Ministry is drafting legislation to change the governing acts of the Employee’s […]
Sri Lanka firms could gain from cloud computing: SAP
Apr 28, 2014 (LBO) – Companies in Sri Lanka, especially smaller ones, could avoid capital expenditure by using cloud computing to run anything from accounting to procurement and analyze social media, SAP, an information technology firm said. A company could separately purchase services such as accounting, human resources, marketing and sales and procurement, as needed, […]
Port Office
Apr 27, 2014 (LBO) – Sri Lanka has been invited to set up a trade office at strategic Chinese-run Gwadar port in Pakistan after a delegation from Pakistan met President Mahinda Rajapaksa, his office said.“The port is a part of a larger effort by Pakistan to establish a Pakistan-China economic corridor,” the President’s media office […]
India test-fires anti-ballistic missile
NEW DELHI, April 27, 2014 (AFP) – India successfully test-fired a new anti-ballistic missile on Sunday in a step towards developing a missile defence system which only an elite club of countries has built.India, which shares borders with arch-rival Pakistan and giant China, both of whom are nuclear-armed, is developing the system that aims to […]
Sri Lanka should clean up its act while resisting external probe: political analyst
Apr 26, 2014 (LBO) – Sri Lanka should improve rights of citizens while resisting an international inquiry planned into alleged war crimes by UN’s Human Rights Council and also strengthen relations with India, a political analyst said.“The international inquiry has to be resisted because it has no precedent,” Dayan Jayatillaka, former diplomat and political analyst, […]
Sri Lanka stocks end down 0.2-pct
Apr 25, 2014 (LBO) – Sri Lanka’s stocks end 0.17 percent lower with tobacco and diversified stocks losing ground amid thin foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 10.32 points lower at 6,167.81 down 0.17 percent. The S&P SL20 closed 6.59 points lower at 3,387.97, down 0.19 percent. Turnover was […]
Sri Lanka pick Atapattu as interim coach
COLOMBO, April 25, 2014 (AFP) – Sri Lanka Cricket on Friday named former captain Marvan Atapattu as interim head coach, making him the island nation’s seventh coach in the last four years.Atapattu, 43, was appointed for the tour of England and Scotland starting next month and the subsequent home series against South Africa in July, […]
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 […]