Category:
Sri Lanka to get Tiger Airways flights from May
Apr 01, 2012 (LBO) – Singapore-based Tiger Airways, a budget carrier, said it is starting thrice-a week flights to Sri Lanka’s capital Colombo from May 31, as the island attraction as a tourist spot grows after the end of a civil war. “We are pleased to announce the launch of our direct flights between Singapore […]
Sri Lanka forex inflows rising: Central Bank
Mar 31, 2012 (LBO) – Sri Lanka’s central bank said there had been a “considerable improvement” in foreign exchange inflows in March 2012, amid a caution that it is domestic monetary policy and not inflows that determines an exchange rate. More than 500 million US dollars in foreign investment is expected in the next few […]
Petro Deal
Mar 31, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has struck a deal to import 500 million US dollars of petroleum products from Vietnam over the next six months, ambassador Ton Sinh Thanh said. Ambassador Thanh told an economic forum organized by the Institute of Policy Studies and the embassy of Vietnam that […]
Sri Lanka raises tobacco, alcohol taxes
Mar 31, 2012 (LBO) – Sri Lanka’s finance ministry said it had raised taxes on tobacco, alcohol and beer, including higher import duties on imported beer, which can potentially raise 3. 0 billion rupees in new taxes a year. Excise tax on wine will go up by 50 rupees to 838 rupees a liter, on […]
Sri Lanka raises automobile import taxes
Mar 31, 2012 (LBO)- Sri Lanka has slapped new taxes of as much as 100 percent of import value on some imported cars, but raised taxes on hybrid cars at a lower rate, in a move which can reduce state revenues from automobiles this year. Sri Lanka’s ordinary citizens pay very high taxes on cars, […]
Sri Lanka shares end up 0.4-pct
Mar 30, 2012 (LBO) – Sri Lankan shares closed slightly firmer Friday in somewhat choppy trade, brokers said. The main All Share Price Index rose 0. 35 percent (19.05 points) to 5,431.09, while the more liquid Milanka index fell 0. 13 percent (6.52) to close at 4,897.54. Turnover was 789 million rupees, according to stock […]
Sri Lanka tea crop hit by bad weather
Mar 30, 2012 (LBO) – Tea production in Sri Lanka has been reduced by bad weather with crops in other key origins like Kenya and India also down for the same reason, brokers said. “Due to the extremely hot and humid conditions, plantations are experiencing dwindling intakes,” tea brokers John Keells said. “It is reported […]
Sovereign Influence
Mar 30, 2012 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s (SLT) long-term foreign-currency and local-currency issuer default ratings (IDRs) at ‘BB-‘ and its national long-term rating at ‘AAA(lka)’. The outlook on the ratings is stable, the rating agency said in a statement. “SLT’s IDRs are constrained by the respective sovereign IDRs of ‘BB-‘. […]
Sri Lanka Mackwoods Energy share issue draws almost Rs400mn
Mar 30, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited that was oversubscribed on the opening day has drawn applications worth almost 400 million rupees, a stock exchange filing said. The IPO was an offer for subscription for 25 million ordinary voting shares at 14 rupees each, to raise a […]
Sri Lanka hosts trade facilitation forum
Mar 30, 2012 (LBO) – Sri Lanka Export Credit Insurance Corporation and the Commonwealth Secretariat is hosting a trade facilitation and export seminar in Colombo, its organizers said. The Commonwealth Secretariat is an intergovernmental agency which facilitates co-operation among Commonwealth nations and advises on policy. A study conducted in 2009 by the Commonwealth Secretariat on […]
” compliance has advantages
Mar 31, 2012 (LBO) – Sri Lankan exporters will have to ensure the ‘greenness’ of their products to comply with environmental rules of importers to ensure future market access, an official said. There is a major shift in environmental and sustainable policies worldwide, said Edward Clarence-Smith of the United Nations Industrial Development Organisation Sri Lankan […]
” for Indian investment
Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and […]