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Sri Lanka hosts tea producer forum
Jan 24, 2013 (LBO) – An International Tea Producers’ Forum formed in Colombo will work to secure their common interest, Sri Lanka’s plantation industries minister Mahinda Samarasinghe said. “With an intergovernmental membership of seven of the world™s largest tea producing countries, ITPF will serve as a powerful new channel to tackle the challenges facing the […]
Sri Lanka regulator starts power price revision process
Jan 24, 2013 (LBO) – Sri Lanka’s power regulator has kicked off a process to revise tariffs saying it has received cost estimates from the main state-run transmission and distribution licensee. Regular energy price revisions based on a rule of law allows the exchange rate to strong and inflation low. A depreciating exchange rate destroys […]
Sri Lanka sets 25 year minimum age for maids to Saudi
Jan 24, 2013 (LBO) – Sri Lanka has set a minimum age of 25 years for women seeking to work as maid in Saudi Arabia and 23 years for another seven Middle Eastern countries, information minister Keheliya Rambukwelle said.Rambukwelle said the government would like to phase out sending women as domestic workers gradually. The requirement […]
Sri Lanka BOI appoints new chief
Jan 24, 2013 (LBO) – Sri Lanka’s Board of Investment said Lakshman Jayaweera, a Sydney based chemical engineer and entrepreneur, had been appointed as its chairman and director general. The appointment of a person with an overseas private sector background will help Sri Lanka attract investment at a time when global foreign direct investments have […]
Sri Lanka rupee weakens amid liquidity surge
Jan 23, 2013 (LBO) – Sri Lanka rupee has weakened over the past two days amid a surge of liquidity in interbank markets, with the spot US dollar quoted at around 126.85/95 in morning trade Wednesday, dealers said. On Tuesday the rupee closed at 126.75/85 to the US dollar down from Monday’s 126.62.66 levels. Excess […]
Sri Lanka stocks close up 0.2-pct, rupee weaker
Jan 23, 2013 (LBO) – Sri Lanka’s stocks closed up 0.2 percent Wednesday with banking sector stocks seeing interest, while the rupee weakened in forex markets, brokers and dealers said. The Colombo All Share Index rose 0.22 percent to close at 5,883.66 points up 12.73 points and the S&P SL 20 Index rose 7.23 point […]
Sri Lanka China venture to make specialty tea
Jan 23, 2013 (LBO) – Sri Lanka’s Elpitiya Plantations Plc has formed a joint venture with China’s Yunnan Dianhong Group to produce ‘Chinese Specialty Tea’ for export, the island’s investment promotion agency said. The joint venture firm Elpitiya Dianhong Jin Ya Tea Company (Private) Limited has been formed with Dianhong International Limited, Hongkong, the BOI […]
Securities Watch
Jan 23, 2013 (LBO) – Sri Lanka’s MillenniumIT, a unit of the London Stock Exchange said its software is being used for monitoring equity and derivative markets in Malaysia. The ‘Millennium Surveillance’ software integrated the equity and derivatives trading platforms to a unified system offering Bursa Malaysia offering a better insight into trading behavior and […]
Sri Lanka opposition backs stronger economic links with India
Jan 23, 2013 (LBO) – Sri Lanka’s main opposition United National Party said it welcomed a move to start talks on a special economic partnership with India after an earlier deal was put on the backburner due to nationalism. “We welcome the news that Sri Lanka and India have decided to begin discussions to develop […]
Sri Lanka Treasuries yields fall
Jan 22, 2013 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 6-month yield falling as much as 17 basis points to 10.41 percent, data from the state debt office showed.The 3-month yield fell 12-basis points to 9.63 percent and the 12-month yield fell 01 basis point to 11.25 percent. […]
‘ Choice 2013 rankings
Jan 27, 2013 (LBO) – Sri Lanka has been added to a list of 14 Asian countries where popular hotels are ranked annually by TripAdvisor.com, a travel review site, though no hotel in the island made it to the world’s best 25 hotels. Maldives had three hotels in the top 25, Baros Maldives, North Male […]
Sri Lanka axed from AirAsia network
Jan 22, 2013 (LBO) – AirAsia, a low cost carrier said it was ending daily flights to Colombo from February 26, “as part of a commercial realignment.” Affected guest could move their flights to an earlier date without any extra charge, offered credit valued to three months or a full refund, the airline said. AirAsia […]