Category:
Sri Lanka mulls support for desiccated coconut exporters
Dec 04, 2009 (LBO) – Sri Lanka’s Plantations Industries Ministry is considering giving an export rebate to desiccated coconut product exporters, a senior official said.Duty on edible oil imports was raised to protect coconut oil millers, who were otherwise unable to compete with cheap edible oil imports. Higher demand from coconut oil mills pushes up […]
Sri Lanka tea export earnings hit monthly high
Dec 04, 2009 (LBO) – Sri Lanka’s tea export earnings in October hit a record high and average auction prices this year were much higher than in the last two years, although shipments were down owing to production problems, brokers said. The year-to-date average price of tea was also higher at 3.14 dollars a kilo […]
Digital Divide
Dec 04, 2009 (LBO) – Sri Lanka will have to lobby to retain funding for its e-Sri Lanka initiative, as the World Bank draws up a lending program for Sri Lanka for the next three years, an official said. The World Bank currently supports the e-Sri Lanka project an initiative to improve access and use […]
India on top despite Sehwag heartbreak
MUMBAI, December 4, 2009 (AFP) – Ruthless India left Sri Lanka fighting for survival in the final Test here on Friday after Virender Sehwag missed a world record third triple-century by seven runs.Sehwag’s 293, a robust 100 not out from skipper Mahendra Singh Dhoni and a string of half-centuries by the middle order fired the […]
Sri Lanka to rebuild northern town
Dec 04, 2009 (LBO) – Sri Lanka plans to spend 15 billion rupees on rebuilding a northern town that was affected by fighting between security forces and Tamil Tiger separatists, the Ministry of Urban Development said.It said in a statement that an entirely new city will be built in the town of Vavuniya under the […]
‘s high deficit spending hurt investment capital: analysts
Dec 04, 2009 (LBO) – Sri Lanka’s deficit spending, heavy state consumption, opaque monetary and fiscal policies and resulting high inflation has stifled investment credit markets and skewed savers towards the short term, analysts have said.“Vacillating primary account deficits meant volatile interest rates, further hampering any viable termed out structure of savings, of whatever savings […]
Sri Lanka bill yields up
Dec 03, 2009 (LBO) – Sri Lanka Treasury bill yields have started to move up across the board, at Wednesday’s auction the government debt office said, as private sector credit demand picked up and inflation concerns re-emerged. The 3-month yield rose 15 basis points to 7.40 percent, the 6-month yield rose 09 basis points to […]
Sri Lankan stocks up 1.78-pct
Dec 03, 2009 (LBO) – Sri Lankan stocks extended gains and rose above the 3,000-point mark on the benchmark index Thursday boosted by high volume transactions on Hatton National Bank (HNB) and John Keells Holdings (JKH), brokers said. The All Share Price Index closed at 3,004.61 up 1.78 percent (52.45 points) while the Milanka Price […]
Sri Lanka tea factory hotel opens under up-market brand
Dec 03, 2009 (LBO) – From abandoned tea factory to luxury resort, Aitken Spence will re-launch its successful tea factory hotel under its up-market brand ˜Heritance.’ Since its launch in 1996, the hotel which is situated on a hilltop overlooking Hethersett village, has gained a reputation for being an unusual holiday attraction. Visitors can experience […]
Sri Lanka cruise ship calls pick up after war
Dec 03, 2009 (LBO) – Calls by cruise ships to Sri Lanka, which were greatly reduced during the height of the ethnic war, are picking up with the latest operator to launch visits to Sri Lanka being Louis Cruises India.The number of visitors to the island picked up immediately after the war ended in May […]
Speak Out
Dec 03, 2009 (LBO) – UN officials and human rights groups have praised the decision by the Maldives to decriminalise defamation. Freedom of expression is the cornerstone of democracy and good governance. For democracy to be effective, citizens must be able to hold those in power to account without fear of retribution. I commend all […]
Ideal Spectrum
Dec 03, 2009 (LBO) – Sri Lankan telecommunications firms will begin unrolling WiMAX networks offering high-speed internet connections at lower cost in January, the island’s telecom regulator, Priyantha Kariyapperuma, said. The networks using the Worldwide Interoperability for Microwave Access (WiMAX) technology will especially benefit rural areas enabling services like telemedicine and e-learning, officials said. Sri […]