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700 pilgrims killed in worst Haj tragedy in 25 years
Sept 25, 2015 (LBO) – More than 700 pilgrims have died in a crush outside the Muslim holy city of Mecca, with a further 800 people injured, media reports said. This is the worst disaster in 25 years to occur during the holy pilgrimage. The Saudi King Salman has said he has ordered a review […]
Sri Lanka envoys in Geneva return to their old tricks: Human Rights Watch
Sep 24, 2015 (LBO) – Sri Lanka’s envoys in Geneva have returned to their old tricks by proposing amendment after amendment to the US backed draft resolution, Human Rights Watch said. Geneva Advocacy Director of Human Rights Watch, John Fisher said China, Russia, and Cuba under the guise of ‘constructive engagement’ have endorsed Sri Lanka’s […]
Sri Lanka’s tea exports decline in August: Forbes & Walker
Sep 24, 2015 (LBO) – Sri Lanka’s tea exports and earnings fell in August 2015 from a year earlier, with exports dropping to 21.1 million kilos, a difference of 6.3 million kilos from the previous year, Forbes & Walker Tea Brokers said in a report. “Total revenue too shows a fairly substantial decline of 5.8 […]
President arrives in New York to attend UN General Assembly
Sep 24, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena arrived in New York to attend the 70th United Nations’ General Assembly sessions and to deliver a special address at the General Debate. The President is to have bilateral meetings with several leaders including Prime Minister of Malta Dr Joseph Muscat, Prime Minister of Pakistan […]
Lamudi speaks to Head of Sales, Shangri-La Lanka
COLOMBO, 23 September 2015: Aside from noticeable evidence, the growth of the economy, specifically the real estate and tourism sectors in Sri Lanka, have been repeatedly publicised over the post-war period.Yet, how do international investors perceive it? Neluka De Alwis, Head of sales and marketing of Shangri-La Hotels Lanka (Private) Limited, said: “Since the end […]
Colombo Fashion Week to push resort wear as a high growth industry
Sep 24, 2015 (LBO) – Sri Lanka’s Colombo Fashion Week is pushing resort wear as a high growth industry in the region while enabling the island’s designers to tap into the growing demand for the industry. “Once a category that was focused on exclusively for the holiday season, resort wear has in the last decade […]
Investor: Future bright for Sri Lanka if policies are consistent, says intl hotel developer
Sept 24, 2015 (LBO) – With more stability in Sri Lanka, investors are keen to make long-term commitments, but their one ask is that policies are clear and remain consistent, Goulam Amarsy, an international hotel developer said. Amarsy appreciated the potential of the island during his first visit to Sri Lanka in August. Now he […]
Sri Lanka to construct houses for families affected by the conflict
Sep 24, 2015 (LBO) – Sri Lanka plans to call for proposals from interested local and foreign parties to build houses for families affected by conflict, the government’s media spokesman, Rajitha Senaratne, said.He said the Ministry of Rehabilitation, Resettlement and Hindu Affairs is mandated with the responsibility of resettlement of families and construction of houses […]
Sri Lanka stocks close down 0.05-pct
Sep 23, 2015 (LBO) – Sri Lankan stocks closed down 0.05 percent on Wednesday with losses in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.55 points at 7,114.83 lower 0.05 percent. S&P SL20 closed 11.48 points higher at 3,884.22 down 0.29 percent. Turnover was 747.5 million rupees, […]
Sri Lanka’s Pan Asia Bank debentures oversubscribed
Sep 23, 2015 (LBO) – Sri Lanka’s Pan Asia Bank said a listed debt offer for four billion rupees had been oversubscribed Wednesday and is closing on the same day. The bank offered 20 million debentures at 100 rupees each with an option to issue 20 million further. The basis of allotment is to be […]
Sri Lanka cuts government spending over foreign visits and security measures
Sep 23, 2015 (LBO) – Sri Lanka’s cabinet on Tuesday decided to cut government spending over various activities and introduced a new criteria to adopt in expending government funds.The Prime Minister has focused the attention of the following; • Minimizing to the maximum level foreign visits by the Ministers, State Ministers, Deputy Ministers, all elected […]
Developing Asia needs to strengthen women’s place in the labor market: ADB
Sep 23, 2015 (LBO) – Taking strong proactive measures to get more women into productive, well-paid jobs, entrepreneurship, and leadership positions will bring multiple and long-lasting economic and social benefits to developing Asia, the ADB said. According to the ADB’s annual economic publication, Asian Development Outlook 2015 women’s participation in Asia’s workforce has actually fallen […]