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Sri Lanka ranked 82nd in innovation index
July 04, 2011 (LBO) – Sri Lanka has been ranked 82nd, in a global innovation index issued by Insead, an international business school, behind India but ahead of other key south Asian countries. Switzerland topped this year’s ranking in the Global Innovation Index (GII), while Sweden took second place and Singapore third. The GII 2011 […]
Sri Lanka on track to meet deficit, FDI targets: Treasury Secretary
July 04, 2011 (LBO) – Sri Lanka is “well on track” to keep the 2011 budget deficit within 7. 0 percent of gross domestic product, and foreign direct investments of 2.0 percent of GDP, Treasury secretary P B Jayasundera said. With first quarter GDP at around 8. 0 percent, per capita GDP is on track […]
Sri Lanka state revenues up 19.8-pct to May
July 04, 2011 (LBO) – Sri Lanka’s state revenues rose 19. 8 percent to 358.2 billion rupees in the five months to May from a year earlier, a finance ministry report said, with a surge in imports helping pad up revenues. The state extracted 23.8 percent more taxes from the people, totaling 319. 7 billion […]
Sri Lanka diplomats to plug tourism
July 3, 2011 (LBO) – Sri Lanka’s diplomats will promote the country abroad in the future and the state tourism promotion office will gradually sever links with private public relations firms, deputy economic development minister Lakshman Yapa Abeywardene said. “The government has decided do slowly distance ourselves from private public relations firms,” Abeywardene told reporters. […]
Sri Lanka state-run cashew firm losing money
July 03, 2011 (LBO) – State-run Sri Lanka Cashew Corporation is losing money, has low productivity of its lands, and is depending on Treasury handouts to operate, a finance ministry report said. The Cashew Corporation made one percent of the country’s annual production of 8,000 metric tonnes but there wasn’t enough focus on developing cashew […]
‘s frustrated migrant workers rise up
BEIJING, July 3, 2011 (AFP) – Migrant worker Yue Yaowei has lived in Beijing for six years but is not recognised as a resident of the Chinese capital — and so cannot get health insurance, buy a car or purchase a house. “I am under big pressure here,” Yue, 24, told AFP at a duck […]
” of treasure found in Indian temple
THIRUVANANTHAPURAM, July 2, 2011 (AFP) – A treasure trove of gold and silver jewelry, coins and precious stones said to be worth billions of dollars has been found in a Hindu temple in southern India, officials said on Saturday. A necklace found on Thursday was 18 feet (six metres) long. Thousands of gold coins have […]
Vodafone takes full control of Indian mobile group
NEW DELHI, July 2, 2011 (AFP) – British mobile phone giant Vodafone is taking full control of its Indian joint venture by buying out its local partner Essar Group, a statement said Saturday, ending a troubled relationship. Vodafone, which has sought to make India a crown jewel in its expanding emerging markets portfolio, said it […]
Sri Lanka state-run airport firm profits up 40-pct
July 02, 2011 (LBO) – State-run Airport and Aviation Services (Sri Lanka) Ltd, which has a monopoly airport operations in the island has reported a profit of 1.3 billion rupees for 2010, up 40 percent from a year earlier. AASL is also planning a 400 million dollar expansion of Katunayake, according to other reports. Revenues […]
Sri Lanka Pakistan talks to expand trade
July 02, 2011 (LBO) – Sri Lanka and Pakistan will begin talks Monday to expand trade and review the implementation of a free trade deal which was put in place to give more freedom for citizens of both countries to exchange goods with each other. Trade between the two countries was 346 million US dollars. […]
Bangladesh okay Pakistan security
LAHORE, July 2, 2011 (AFP) – Bangladeshi football chiefs said security arrangements for their game away at Pakistan in a World Cup qualifier on Sunday were “satisfactory”. “We have provided the best possible security for the visiting team, around their hotel and in the stadium, so we hope there will be no worries on that […]
Sri Lanka ready to give ton-up Jayawardene a break
LEEDS, July 2, 2011 (AFP) – Sri Lanka are contemplating resting Mahela Jayawardene from games in order to prolong the star batsman’s career. The only people who appeared to need Jayawardene to take a break at Headingley here on Friday were England’s bowlers as the 34-year-old marked his 343rd one-day international with a career-best 144. […]