Tag: economy

June 9, 2011 (LBO) – Lanka Salusala, a Sri Lankan state textile trading firm has not released audited accounts from 2004, had excess staff, unsettled loans and its performance could not be measured, a finance ministry report said. In a related development Sri Lanka’s Daily FT newspaper reported that the trade ministry has requested the […]

June 07, 2011 (LBO) – Sri Lanka has raised 2. 1 billion US dollars to rebuild roads, rail, power, hostpital, water supply and help resettle refugees in the war torn Jaffna region in 2010, a finance ministry report said. These funding programmes have helped to resettle internally displaced people within a short period of time […]

June 07, 2011 (LBO) – Sri Lanka has received 236 million US dollars in foreign direct investments in the first quarter of 2011, up 160 percent from a year earlier, led by tourism, the state investment promotion agency said. Hong Kong based Shangri-La group which bought land in Sri Lanka’s capital Colombo and Hambantota in […]

LONDON, June 4, 2011 (AFP) – Sri Lanka captain Tillakaratne Dilshan led from the front with an unbeaten century as the tourists fought back against England on the second day of the second Test at Lord’s here Saturday. At stumps, Sri Lanka were 231 for one, 255 runs behind England’s first innings 486. Dilshan, who […]

June 3, 2011 (AFP) – Sri Lanka deployed heavily-armed troops around the country’s main free-trade zone on Friday as tension mounted ahead of the weekend funeral of a factory worker shot dead by police, officials said. Soldiers were placed in the Katunayake zone, just next to the country’s only international airport where a range of […]

June 03, 2011 (LBO) – Sri Lanka spent 5. 5 billion US dollars in its military campaign which crushed Tamil Tiger separatists, far less than what foreign powers spent on their current wars, central bank governor Nivard Cabraal said. “It was a vital investment not an expenditure like what many people would think it is,” […]

June 03, 2011 (LBO) – Sri Lanka minister of labour has withdrawn a proposed law to build a third state controlled pension fund from the salaries of private sector workers, following protests that left at least one worker dead. Sri Lanka’s labour minister Gamini Lokuge has formally withdrawn the bill, the department of labour said […]

June 02, 2011 (LBO) – A Sri Lankan worker who was shot while protesting a state plan to deduct more money from private sector worker salaries to build a new state-controlled pension fund has died as the country’s police chief stepped down. The proposed plan would see deductions going up further. Sri Lanka’s state workers […]

June 02, 2011 (LBO) – Sri Lanka’s central bank which has restored a historic building in Colombo city’s old quarter which features colonial era architecture will begin work on a second building that it has bought, a top official said. The central bank officially opened ‘Lloyds Building’ in Sir Baron Jayetilleke Mawatha in Colombo’s Fort […]

June 01, 2011 (LBO) – Sri Lanka’s first quarter 2011 state revenues rose 19. 5 percent from a year earlier to 218.4 billion rupees ahead of annual projections of 17. 8 percent with people paying 24.3 percent more taxes , but the revenue deficit was wide. Current expenses pulled ahead at a 9. 9 percent […]

June 1, 2011 (AFP) – Two senior Sri Lankan police officers have been arrested over live rounds fired at protests against a pension bill at which 150 people were injured in violent clashes. Police spokesman Prishantha Jayakody said the two inspectors were held over their conduct at Monday’s protest in Katunayake, a town near the […]

June 01, 2011 (LBO) – Sri Lanka’s Export Processing Zone next to the Katunayake international airport is to be reopened Thursday following violent protests by workers against a new government pension bill they opposed. The Board of Investment said it requests all employees attached to the enterprises in the zone, north of Colombo, to report […]