Category:
‘s immigration open, but not for one French family
MONTREAL, June 8, 2010 (AFP) – Looking to swell its population with an influx of up to 250,000 immigrants annually, Canada is arguably among the world’s most welcoming nations, but its doors are not open to all. A French couple, Sophie and David Barlagne, recently experienced bitter rejection by a still selective immigration policy. They […]
Top Sri Lanka exporter bats for trade deal with India
June 08, 2010 (LBO) – A top Sri Lankan exporter which is already doing business in India has backed the signing of a new deal to further open trade between the two countries, building on an existing ten-year-old agreement. However other exporters have had problems, with individual state taxes hitting them even if national import […]
Taylor century helps Zimbabwe defeat Sri Lanka
HARARE, June 7, 2010 (AFP) – Zimbabwe batsman Brendan Taylor blasted a rapid century at Harare Sports Club to steer his side to an impressive eight wicket win over Sri Lanka in their 50-over international on Monday. This was the last of six Tri-series matches, which included India. The home team, the least fancied of […]
‘ trust
June 7, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse urged Tamil leaders on Monday to trust him and help resolve outstanding problems following the country’s civil war, warning he would not bow to terrorism. Rajapakse told the Tamil National Alliance (TNA) party, formerly a front for the defeated Tamil Tiger rebels, that he was […]
Sri Lanka must cut business costs to lure investors: World Bank
June 08, 2010 – Sri Lanka’s investment climate must be improved and cost of doing business reduced to attract the private investment needed to speed up growth and improve people’s lives, a senior World Bank official said. Sri Lanka needs to sharply increase private investment in order to accelerate growth, Ernesto May, handling private sector […]
Sri Lanka outlines spending plans for 2010
June 08, 2010 (LBO) – Sri Lanka will spend at least 202 billion rupees on defence, 87. 8 billion rupees on roads, 53 billion rupees on health, 26. 2 billion rupees on ports and 25.1 billion rupees on water supply this year, a bill submitted to parliament said. In 2009 Sri Lanka spent 188.6 billion […]
Sri Lanka must reduce deficits, debt; contain inflation: World Bank
June 08, 2010 (LBO) – South Asian countries like Sri Lanka must reduce high budget deficits and public debt to gain from the global economic recovery that is underway, the World Bank said in a report. The region weathered global recession much better than any other, showing remarkable resilience and is the second-fastest growing area […]
Sri Lanka John Keells retains top rating, buoyed by container terminal
June 07, 2010 (LBO) – Sri Lanka’s John Keells Holdings has retained its ‘AAA(lka)’ rating with a ‘stable’ outlook with strong cashflows from dividends of its container terminal in Colombo port, Fitch Ratings said. “JKH’s ratings reflect its strong financial profile as a result of strong dividend inflows to its parent, significantly low net-debt level […]
Sri Lanka retail buying push shares up 1.77-pct
June 07, 2010 (LBO) – Sri Lankan stocks closed higher Monday with strong buying by retail investors pushing up blue chips and ‘mid-cap’ stocks and sending the Milanka index across the 5,000 point mark, brokers said. The All Share Price Index closed at 4,431. 32, up 1.77 percent (77.12 points) while the more liquid Milanka […]
Global Member
June 07, 2010 (LBO) – Sri Lankan banker Nilam Jayasinghe, a former chief of the Sri Lanka branch of CIMA, a UK accounting body, has been elected to its global council for a three year term. Jayasinghe, who is vice president finance planning and treasury at Sri Lanka’s NDB Bank will represent South Asia in […]
Sri Lanka tourist arrivals up 42-pct in May.
June 07, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 42.3 percent to 35,213 in May 2010 from a year earlier with strong growth in South Asian and Western European markets, data from the island’s tourism office showed. Sri Lanka has seen a revival in tourism after a 30-year war ended on May 18, […]
Stylish Stock
June 07, 2010 (LBO) – Sri Lankan retailer Odel plans to raise 250. 5 million rupees through an initial public offer, according to a Colombo Stock Exchange statement. The company, a clothing and fashion products retailer, will issue 16.7 million ordinary voting shares at 15 rupees a share with subscriptions opening on July 5, the […]