Tag: business

Sept 13, 2013 (LBO) – Tax breaks for two casino resorts including one by Australia’s Crown group have been firmed with the cabinet of ministers giving the nod for tax breaks previously announced for large investments.Sri Lanka is pushing a casino strategy to draw high spending tourists, which can fill city five star hotel rooms […]

Sept 14, 2013 (LBO) – Sri Lanka’s willingness to go as high as 9.00 percent a year to raise dollars from international markets shows the fiscal pressure brought on by high spending, an opposition legislator has said. Harsha de Silva, an economist said, dollar loan rates of around 9.00 percent was too high for people […]

Sept 12, 2013 (LBO) – The Central Bank said it released a new book, ;An Introduction to Principles of Economics – Part 1′ It was written by C P A Karunatilake, Director, Centre for Banking Studies, the training arm of the Central Bank of Sri Lanka. He is a graduate of Colombo University and has […]

Sept 11, 2013 (LBO) – Sri Lanka and China is committed to its bi-lateral relationship which was elevated to ‘strategic co-operation’ level earlier this year, the government said following a visit by a senior Beijing official to Colombo.Liu Yunshan, one of seven members of the central secretariat of the Communist Party of China visited Sri […]

DALIAN, September 11, 2013 (AFP) – China’s premier promised equal treatment for multinational companies operating in the country, as he opened a meeting of the World Economic Forum on Wednesday.China will continue to encourage foreign companies to invest and do business in China, and ensure that all companies have equal access …and equal treatment,” Li […]

TOKYO, September 9, 2013 (AFP) – Japan’s economy in the April-June quarter expanded more than initially estimated, revised data showed Monday, offering another boost for Tokyo’s bid to reverse years of tepid growth. The Cabinet Office put second-quarter growth at 0.9 percent from the previous quarter, up from a preliminary reading of a 0.6 percent […]

Sept 02, 2013 (LBO) – Inflation in Sri Lanka’s key cities rose 9.9 percent in August 2013 from a year earlier accelerating from 6.1 percent in July, a price index compiled by private citizens showed.The CAL Urban Index, compiled by an investment research house, rose 2.4 percent in August, after falling 1.4 percent in July. […]

Aug 31, 2013 (LBO) – Sri Lanka was not much worried over currency troubles sweeping South Asia, Treasury Secretary P B Jayasundera said as the Indian Ocean Island followed India into import tightening.In 1991 the Reserve Bank of India completely ran out of foreign reserves and even shipped its gold reserves abroad before halting sterilized […]

Aug 29, 2013 (LBO) – Sri Lanka will borrow 200 million US dollars from the World Bank to develop two cities, the state information office said. The three year project will boost urban infrastructure in Kandy in central Sri Lanka and Galle in the South. The project will improve traffic and transport and solid waste […]

Aug 27, 2013 (LBO) – Noeleen Heyzer, executive secretary of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) will deliver the keynote address a regional economic forum in Sri Lanka. The 6th South Asia Economic Summit (SAES), will start in Colombo on September 02. The Institute of Policy Studies, a […]