Category:
Live Trading
Nov 22, 2011 (LBO) – Millennium Information Technologies, a unit of London Stock Exchange that was founded in Sri Lanka said its software has gone lived at Bangladesh’s Chittagong Stock Exchange. The system was implemented by Polaris India. Installation, trials and final implementation had taken nine months. MillenniumIT chief Tony Weerasinghe said the systems will […]
Telecom Levy
Nov 22, 2011 (LBO) – Sri Lanka has raised a levy on international calls with each outgoing minute charged 3 rupees from the current 2 rupees, a budget for 2012 presented to parliament said. Incoming calls will be charged 9 US cents per minute, up from the current rates of 7 US cents. The state […]
Sri Lanka business chamber approves devaluation
Nov 22, 2011 (LBO) – Sri Lanka’s main business chamber has approved the sudden devaluation of the rupee saying it would boost exports and urged the government to consult plantation firms whose uncultivated lands are being taken. The Ceylon Chamber of Commerce said the government’s 2012 budget presented to parliament Monday “maintains the consistent fiscal […]
Sri Lanka cuts budget deficit, maintains investment: Treasury Secy
Nov 22, 2011 (LBO) – Sri Lanka has managed to gradually reduce the government budget deficit without cutting public investment which is needed to build the capacity to enable private investments, an official said. Treasury secretary P B Jayasundera said the government was maintaining the downward momentum in budget deficits and inflation had been brought […]
Sri Lanka rupee to be depreciated 3-pct: President
Nov 21, 2011 (LBO) – Sri Lanka will depreciate the rupee 3. 0 percent to help export competitiveness, President Mahinda Rajapaksa told parliament in his budget speech for 2012. Central Bank Governor Nivard Cabraal said the rupee will be depreciated from tomorrow The rupee is pegged to the US dollar and traded around 110.20 on […]
Sri Lanka stocks end down 0.3-pct
Nov 21, 2011 (LBO) – Sri Lankan shares closed lower Monday with the low turnover bolstered by trades in conglomerate John Keells Holdings, brokers said. The main All Share Price Index fell 0. 34 percent (20.66 points) to 6,119.86, while the more liquid Milanka index rose 0. 15 percent (7.91 points) to close at 5,357.45, […]
Sri Lanka to cut taxes on vehicles for tourism
Nov 21, 2011 (LBO) – Buses imported for tourism will be freed from value added tax and duties on vehicles imported for airport taxi services will be halved, President Mahinda Rajapaksa told parliament. Tourism is one of the most profitable sectors after a war ended in May 2009. Presenting the 2012 budget, Rajapaksa said airport […]
Sri Lanka to distribute unused plantation land among small farmers
Nov 21, 2011 (LBO) – The Sri Lankan government is to take back 37,000 acres of unused land from regional plantations companies and distribute it to small farmers, President Mahinda Rajapaksa said. The lands to be re-distributed will be given small holder families for 30 years. The small farmers will also be given low cost […]
Sri Lanka to give incentives for rice export, aquaculture
Nov 21, 2011 (LBO) – The state will give incentives to process rice for export, aquaculture in especially in former war torn areas in the east of the island, president Mahinda Rajapaksa said presenting a budget for 2012. Rajapaksa said funding for improved seed production and agriculture extension services for paddy will be increased. Rice […]
India to privatize oil firm
NEW DELHI, Nov 21 (AsiaPulse) – India’s Disinvestment Ministry says it has received in-principle clearance from the Petroleum Ministry to proceed with the sale of government equity in Oil India Ltd. “Correspondence was going on for last six months… We got Petroleum Ministry in-principle approval yesterday for disinvestment in OIL. We have to work out […]
‘l flights
CANBERRA, Nov 21 (AsiaPulse) – Australian international air passengers will soon no longer be banned from carrying liquids in their carry-on luggage. The federal government has announced that new advanced explosive detection equipment will be installed at Australia’s international airports by 2013. Currently, Australians booked on flights overseas are not permitted to carry any containers […]
Vietnam welcomes Sri Lankan businesses
HANOI, Nov 21 (AsiaPulse) – The Vietnamese Government will create the possible best conditions for Sri Lankan and Vietnamese businesses to approach investment and trade opportunities. State President Truong Tan Sang made this affirmation at a reception for Asoka Hettigoda, President of the National Chamber of Commerce of Sri Lanka, in Hanoi. He said he […]