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Cricket: Sri Lanka oust Aussies to qualify for semis
LONDON, June 17, 2013 (AFP) – Sri Lanka reached the Champions Trophy semi-finals with a 20-run victory over holders Australia in the last league match at the Oval in London on Monday.The Sri Lankans, who needed a win to stay in the competition, relied on aggressive half-centuries from Mahela Jayawardene and Lahiru Thirimanne to score […]
Sri Lanka gets new envoy from India
June 18, 2013 (LBO) – Yashvardhan Kumar Sinha, a 32 year veteran in India’s foreign ministry will be the new envoy to Colombo, the Indian High Commission (embassy) in Colombo said.Before coming to Sri Lanka, he was Additional Secretary in the Pakistan-Afghanistan-Iran division at the Ministry of External Affairs, New Delhi. Sinha had arrived in […]
Sri Lanka needs a stronger entrepreneurial culture: academics
June 18, 2017 (LBO) – A tendency to look to the government for solutions as well as practical constraints like high interest rates and lack of business skills like marketing, academics who are helping improving management skills in the country said. “When you give so many subsidies people or businesses they start depending on the […]
Sri Lanka economy grows 6.0-pct in 2013 first quarter
June 18, 2013 (LBO) – Sri Lanka’s gross domestic product grew 6.0 percent in the first quarter of 2013 from a year earlier, slowing from 8.0 percent last year and 6.3 percent in the fourth quarter of 2012, the state statistics office said. In services, wholesale and retail trade grew just 1.0 percent with import […]
Sri Lanka stocks close flat
June 17, 2013 (LBO) – Sri Lanka’s stocks closed flat Monday, due to index heavy stocks continuing to drop and profit taking by some investors, brokers said. Nestle Lanka gained 8.40 rupees to close at 1928.60 rupees and Dialog Axiata closed flat at 8.80 rupees. The benchmark Colombo All Share Index closed 0.28 points lower […]
Credit Trend
June 17, 2013 (LBO) – Sri Lanka’s credit to private business fell to a three year low of 7.6 billion rupees in April 2013 the lowest since May 2010, with state borrowings continuing to crowd out other loans. Contractions in central bank credit help build up foreign reserves and keep the exchange rate strong but […]
Sri Lanka tourist arrivals up 21-pct in May
June 17, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 21 percent to 70,026 in May 2013 from a year earlier, with a recovery in the Indian market and Western Europe growing strongly, official data shows.South Asia rose 14.4 percent to 23,819. India, Sri Lanka’s largest generating market rose 8.5 percent to 17,233 and Maldives […]
Education Dialogue
June 17, 2013 (LBO) – International and regional educators will come together in Colombo to debate international higher education issues at a first in a series of global forum, the British council said. Each policy dialogue features the latest thinking in its area with new research and input from the government and industry leaders. Global […]
Cricket: Hard for Warner to retain Test spot – Clarke
SYDNEY, June 17, 2013 (AFP) – Captain Michael Clarke says it will be difficult for errant batsman David Warner to hold his place in the Australian side for next month’s first Ashes Test after his bar room punch-up with England’s Joe Root. Writing in Sydney’s Daily Telegraph on Monday, he said Warner’s actions were an […]
Sri Lanka vows polls in ex-war zone but clips council powers
OLOMBO, June 16, 2013 (AFP) – Sri Lanka’s President Mahinda Rajapakse pledged Sunday to proceed with the first-ever provincial polls in the island’s former war zone but his government said the powers of the elected council will be clipped.The councils were established in line with an agreement with neighbouring India, which promised to rein in […]
Sri Lanka promises fast-track investment approvals from July 01
June 17, 2013 (LBO) – Sri Lanka’s investment promotion ministry said a new fast-track unit will be opened from July 01, to give approvals for projects within three months.Investment promotions minister Lakshman Yapa Abeywardene expects the procedure to provide all necessarily approvals, within three months, the statement said. The Board of Investment of Sri Lanka […]
Sri Lanka growth to be on track: CB Governor
June 17, 2013 (LBO) – Sri Lanka is expecting 7.5 percent growth this year despite a slowdown in exports, and adverse weather hitting fisheries, Central Bank Governor Nivard Cabraal said. The hotel sector as doing well and lots of investments were taking place, he said in addition to other areas like remittances, which were also […]