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‘s BB- sovereign rating confirmed: Fitch
Apr 23, 2013 (LBO) – Sri Lanka’s ‘BB-‘ sovereign rating has been confirmed with a stable outlook by Fitch on tighter monetary policy and corrective measures to stem balance of payments troubles but warned of rising foreign debt. Sri Lankan authorities expected 7.5 percent and 8.0 percent. Fitch said the government forecast of higher growth […]
Management
Apr 30, 2013 (LBO) – Sri Lanka’s Aitken Spence Plc said it had signed 15 year deal to manage ports in Fiji and will invest 10.5 million Fiji dollars (5.9 million US dollars) in the project. Aitken Spence also ports operations in South Africa.The group has interest in shipping, leisure and power. Aiken Spence said […]
‘s top tourist market in East Asia
Apr 30, 2013 (LBO) – China has overtaken Japan as Sri Lanka’s top tourist market in East Asia generating more tourists from around September 2012, official data show. Economic ties with China have been growing in recent years and there are also some Chinese expatriates working in projects in the island.Tourist promotions targeting China has […]
BengalLine
Apr 30, 2013 (LBO) – Sri Lanka’s Dialog Axia, its parent Telekom Malaysia, UK’s Vodafone and Middle Eastern operators are teaming up to build an 8,000 kilometer undersea cable system, consortium partner Reliance Industries Limited of India said.The cable system is expected to be operating by end 2014. The ‘Bay of Bengal Gateway’ submarine cable […]
Sri Lanka may reduce electricity tariff increase: report
Apr 30, 2013 (LBO) – Sri Lanka may moderate an increase in electricity tariff imposed from April 2013 amid growing opposition, a media reports said. Sri Lanka’s privately owned The Daily Mirror newspaper quoted power ministry secretary M M C Ferdinando as saying there may be possibility of cutting the tariffs. The Lankadeepa newspaper said […]
‘s inflation eases to 6.4-pct in April
April 30, 2013 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 6.5 percent in April 2013, from a year earlier, easing down from 7.5 percent in March, the state statistics office said.The Colombo Consumer Price Index fell 0.5 percent or 0.8 points during the month to 170 points during the month helped by a […]
Sri Lanka stocks flat
Apr 29, 2013 (LBO) – Sri Lanka’s stocks closed barely changed Monday despite foreign investor interest in banking stocks, brokers said. The benchmark Colombo All Share Index closed 05.45 points higher at 5,967.62 up 0.09 percent and the S&P SL 20 Index closed 03.78 points higher at 3,363.14 up 0.11 percent. Turnover was 846 million […]
Sri Lanka tourist arrivals up 11.6-pct in February
Apr 29, 2013 (LBO) – Tourist arrivals to Sri Lanka rose 11.6 percent in February 2013 to 93,232 from a year earlier, helped by gains in Europe and East Asia, official data showed. Malaysian visitors rose 27.9 percent to 1,973 while tourists from Singapore dropped 23 percent to 1,030 and those from Taiwan fell 67 […]
SriLankan Airlines to boost cargo, cut costs with new Airbus aircraft
Apr 29, 2013 (LBO) – State-run SriLankan Airlines expects to boost freight volumes especially on long haul flights as well as cut running costs, with the acquisition of 13 wide-body Airbus aircraft, chief executive Kapila Chandrasena said.In the year to March 2012, SriLankan’s passenger factor rose to 79.1 percent from 76.7 percent a year earlier, […]
Showcase
Apr 28, 2013 (LBO) – A logistics conference and exhibition pushing Sri Lanka’s position as a maritime hub will be flagged off by the island’s President Mahinda Rajapaksa on May 02, featuring regional and international players, organizers said.The event will have international and local exhibitors and expert panels exploring key emerging trends in the region, […]
Tourists in Sri Lanka experience New Year festivities
Apr 28, 2013 (LBO) – Tourists in Negombo, a resort north of Sri Lanka’s capital Colombo have participated in a traditional New Year festival getting a taste of seasonal games and rituals, the tourism promotion office said. The event was organized by the tourism office, Negombo Hoteliers Association and the Sri Lanka Travel Journalists Association, […]
US trains Sri Lanka Coast Guard
Apr 28, 2013 (LBO) – The United States is providing Coast Guard training as part of a maritime security co-operation program, the US embassy in Colombo said.One Sri Lankan officer will graduate from his four month training in May and the other will complete his three month training in June 2013. A batch of 20 […]