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Sri Lanka labour force growth is slowing: think tank
Nov 14, 2012 (LBO) – Sri Lanka’s labour force growth is slowing and the proportion of the workforce above 30 years is growing, while the proportion below 30 is shrinking, raising important policy questions, a top think has said. “There are already indications that the Sri Lankan labour force growth has slowed down,” Sri Lanka’s […]
” rating confirmed
Nov 13, 2012 (LBO) – Fitch Ratings said a ‘BBB(lka)’ rating of Senkadagala Finance has been confirmed with a stable outlook. “SFC’s rating reflects its long operating history and good credit profile which has been maintained through economic cycles, supported by sound credit controls, low refinancing risk and high profitability,” the rating agency said. “However, […]
Growth Spurt
Nov 13, 2012 (LBO) – Fitch Ratings has confirmed a ‘BB+(lka)’ rating of Trade Finance and Investment Plc (TFI), with a stable outlook, saying recent fast credit growth needs strong monitoring. “The rating factors in TFI’s strong capitalisation and profitability metrics for a small-sized registered finance company (RFC),” the agency said. “The rating is however, […]
Paradise Isle
Nov 13, 2012 (LBO) – Sri Lanka’s move to allow tax free racing cars may sound like a pacifier for the rich kids of politicians, but the move could actually be aimed at cultivating a new culture to improve farm-related transport. The 2013 budget took away the 300 percent tax on super luxury racing cars […]
Sri Lanka issues silver coin to mark relations with Japan
Nov 12, 2012 (LBO) – Sri Lanka will issue a silver commemorative coin with a face value of 1,000 rupees to mark 60 years of diplomatic relations with Japan, the Central Bank said. Minted at the Japan Mint, it has a diameter of 35 millimetres and weighs 20 grams. The obverse of the coin has […]
Steady Quarter
Nov 12, 2012 (LBO) – Sri Lanka’s NDB group profits edged 3 percent lower to 678 million rupees in the September 2012 quarter from a year earlier, with interest and staff expenses rising, interim accounts show. The group posted earnings of 4. 13 rupees per share in the quarter. In the nine months to September […]
Sri Lanka toddy tappers face extinction
WADDUWA, Sri Lanka, Nov 12, 2012 (AFP) – Clambering between high trees carrying a knife in the search for sap to brew alcoholic drinks is a young man’s game — and Sri Lanka’s ageing toddy tappers say the craft is dying. “I don’t know for how long I can continue this because it is becoming […]
Oil Gains
Nov 12, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said profits in the September 2012 quarter rose 327 percent from a year earlier, partly helped by foreign exchange gains. The firm reported earnings of 2.22 rupees per share. In the six months to September the firm reported earnings of 2. 58 […]
Sri Lanka state jobs created for tens of thousands unemployable graduates
Nov 12, 2012 (LBO) – Sri Lanka has created 21,463 new posts in ministries up to August 2013 out of which 18,128 were for unemployable graduates educated at tax payer expense, data released under a fiscal management law shows. In 2009 44,532 new posts were created including 40,095 in departments, 1,769 in ministries, 1,641in provincial […]
‘s Udawalawe National Park area gets 4-star resort: report
Nov 11, 2012 (LBO) – A 55-room 4-star class resort will open in the coming winter season in Thanamalwila near Sri Lanka’s Udalawalawe national wildlife park, a media report said. The hotel uses solar energy and has a sewage treatment plant where waste water is cleaned and used to irrigate the garden. The hotel is […]
Sri Lanka cigarette labeling put off till March 2013
Nov 11, 2012 (LBO) – Sri Lanka’s health ministry has put off till March 2013, graphic labeling designed to educate consumers on the cancer and heart disease causing effects of cigarette smoke. Sri Lanka’s Ceylon Tobaccco Company, a unit of British American Tobacco, went to courts against the new rules which gave three months for […]
‘s top lender, India gives most grants to Aug
Nov 10, 2012 (LBO) – China was Sri Lanka’s top lender up to August 2012 disbursing 443. 6 million US dollars in loans and export credits and India has give the most amount of grants followed the United States and Japan, finance ministry data shows. The finance ministry’s fiscal management report shows that China has […]