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Sri Lanka avoids EU fishing sanctions
Nov 26, 2013 (LBO) – Sri Lanka has been named as a country that made progress over curbing illegal fishing by the European Commission, allowing the country to export to the European Union at least until next March. Sri Lanka was previously hit with a yellow card earlier, and fisheries minister Rajitha Senaratne has lobbied […]
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GENEVA, November 26, 2013 (AFP) – The giraffe-like Okapi and the White-winged Flufftail, one of Africa’s rarest birds, are on the verge of extinction, conversation body the IUCN warned on Tuesday. But it has been given a helping hand by the US National Park Service, via captive breeding, reintroduction, vaccination against canine diseases and relocation […]
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SYDNEY, November 26, 2013 (AFP) – Australia said Tuesday it had summoned Beijing’s ambassador to voice opposition to China’s sudden announcement of an air defence identification zone over the East China Sea. China and Japan each summoned the other’s ambassador after Beijing said Saturday it had established an Air Defence Identification Zone — which would […]
Sri Lanka bans remembrance of Tamil Tigers
COLOMBO, November 25, 2013 (AFP) – Sri Lanka’s military Monday announced a ban on commemorations of the island’s defeated Tamil Tiger rebels following reports that sections of the ethnic Tamil minority were planning to hold events. The military said any event was banned because the Liberation Tigers of Tamil Eelam (LTTE) was still a proscribed […]
Lubricant Liberties
Nov 26, 2013 (LBO) – Sri Lanka will shortly license more players to sell lubricants in in the island officials said, expanding the freedoms of citizens.At the moment Chevron, Lanka OIC and state-run Ceylon Petroleum Corporation are among the front runners. Those will blending facilities also have an advantage over imported final product sellers. Though […]
Sri Lanka chamber forum with legislators on budget
Nov 26, 2013 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding a forum with legislators from key political parties set to take part.Sarath Amunugama from the ruling People’s Alliance, Harsha De Silva from the United National Party, Sunil Handunetti from the Janatha Vimukthi Peramuna, and Udaya Gammanpila from the Jathika Hela […]
Sri Lanka income tax responds strongly to rate reduction
Nov 26, 2013 (LBO) – Sri Lanka’s income tax volumes showed the strongest gain following a cut in the rates, in the middle of an economic downturn the reduced most other collections, a finance ministry report showed. Sri Lanka’s income tax collections rose 14.4 percent to 154.7 billion rupees in the first nine months of […]
Sri Lanka stocks close lower
Nov 25, 2013 (LBO) – Sri Lanka stocks closed 0.29 percent lower with diversified stocks losing ground amid low foreign activity on the bourse, brokers said. DFCC closed 2.00 rupees lower at 120.00 rupees and Sampath Bank closed 1.90 rupees lower at 162.10 rupees. Asian Hotels and Properties closed 80 cents lower at 69.00 rupees […]
Port Profit
Nov 25, 2013 (LBO) – Profits at Sri Lanka Ports Authority was up sharply in the first nine months of the year, helped by a weaker Japanese Yen and higher container volumes, a finance ministry report said. SLPA has recorded revenues of 25.9 billion rupees for the nine months to September 2013, Revenues were up […]
Finance Proposal
Nov 25, 2013 (LBO) – Sri Lanka’s central bank said budget proposals to boost mergers will strengthen finance companies.The full statement is reproduced below:- Strengthening Finance Companies and Banks The Central Bank notes the several measures proposed in the Budget 2014 to strengthen the licensed finance companies, where, with a view to encouraging consolidation in […]
Sri Lanka budget good for rating: Fitch
Nov 25, 2013 (LBO) – Fitch Ratings said the Sri Lanka’s recent budget would help Sri Lanka’s ‘BB” sovereign rating.Fitch said Sri Lanka has to guard against foreign debt. “The Sri Lankan government also has a significant amount of foreign currency debt,” Fitch said. “At around 33% of GDP this poses a risk to the […]
US senators press Walmart on Bangladesh unions
WASHINGTON, November 22, 2013 (AFP) – A US Senate report on Friday urged Walmart, Gap and other retailers to respect labor unions in Bangladesh, saying workers desperately needed greater rights after hundreds died in fires.“They should also collectively develop and implement a policy of zero-tolerance for suppliers who consistently engage in anti-union activity,” it said. […]