Tag: lankabusinessonline
Sri Lanka Italy businesses in forum with Harsha
Apr 22, 2014 (LBO) – Sri Lanka-Italy Business Council, of the Ceylon Chamber of Commerce said it is hosting a forum on ‘post war dividends’ where Harsha de Silva, an economist and legislator will speak. De Silva, who is the key economic spokesman at Sri Lanka’s United National Party, will speak on “The Road to […]
Sri Lanka inspiring entrepreneur: innovation comes from within
Apr 22, 2014 (LBO) – An inspiring Sri Lankan entrepreneur who broke into a global supply chain in precision tech components for the automobile industry says innovation comes from within.“I am usually not a person that complains,” Rohan Pallewatte, head of Lanka Harness Company (Pvt) Ltd, a precision manufacturing firm that makes impact sensors for […]
Sri Lanka port profit, revenues down despite higher volumes
Apr 20, 2014 (LBO) – Operating profits at Sri Lanka’s Ports Authority fell 53.4 percent to 2.4 billion rupees in 2013 with revenues also down 2.3 percent to 37.2 billion rupees, despite an increase in container volumes at Colombo, official data showed. Expenditure had increased 5.8 percent to 34.8 billion rupees. Containers handled in Colombo […]
Sri Lanka President sends condolences to South Korea
Apr 18, 2014 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has sent condolences to South Korea over a ferry disaster which has killed an unknown number of persons.In a message to his counterpart President Park Geun-hye, President conveyed profound condolence on behalf of the people and government of Sri Lanka to Korea and the affected […]
Sri Lanka could have credit upgrade on lower budget deficit, external debt: Fitch
Apr 16, 2014 (LBO) – Sri Lanka’s sovereign credit could be upgraded on a steadily narrowing budget deficit and a lower external debt burden, which were weaker than similarly rated countries, Fitch Ratings has said. Among Fitch rated Asia Pacific sovereigns, Mongolia had a ‘B+’ rating with a negative outlook, Vietnam ‘B+/positive’, Philippines and Indonesia […]
‘s missing macaws
COLOMBO, April 16, 2014 (AFP) – Four macaws belonging to Sri Lankan President Mahinda Rajapakse have escaped his tightly-guarded official residence in Colombo, his office said Wednesday as it appealed for help to trace the colourful long-tailed birds.Macaws — a species of parrot — are not indigenous to Sri Lanka, but several pet stores import […]
Fuel Sales
Apr 16, 2014 (LBO) – Losses at Sri Lanka’s state-run Ceylon Petroleum Corporation fell to 7.7 billion rupees in 2013 from 89.6 billion rupees a year earlier, but bank debt was still high, official data showed.The Central Bank in its annual report said other state enterprises owed the CPC 75.1 billion rupees and CPC in […]
Canada suspends Commonwealth funding over Sri Lanka rights abuses
OTTAWA, April 14, 2014 (AFP) – Canada’s government announced Monday the suspension of funding to the Commonwealth over rotating chair Sri Lanka’s alleged rights abuses.While Sri Lanka remains chair of the 53-member bloc, Canada’s Can$10 million (US$9 million) annual contribution to the Commonwealth Secretariat will instead go for two years toward combatting the practice of […]
” Commonwealth
COLOMBO, April 15, 2014 (AFP) – Sri Lanka on Tuesday accused Canada of undermining the Commonwealth to score political points after it announced a suspension of funding while the island nation chairs the group.Colombo has denied the accusations, but the UN Human Rights Council passed a resolution in March to set up an investigation into […]
Sri Lanka firms short of workers, over 10,000 working on tourist visas: President
Apr 13, 2014 (LBO) – Sri Lankan firms are asking to employ more foreign workers to fill labour shortfalls, with over 10,000 working in the country on tourist visas, President Mahinda Rajapaksa said.“Some companies come and say, allow us to bring workers from abroad, from India,” President Rajapaksa told a business forum where the annual […]
Sri Lanka sovereign bond will not impact exchange rate: CB Governor
Apr 10, 2014 (LBO) – Sri Lanka’s 500 million US dollar sovereign bond sale this week will not impact the exchange rate as the Central Bank is expected to buy the proceeds, though foreign reserves will go up, Governor Nivard Cabraal said.In order to retain the dollars permanently in the foreign reserves and not cause […]
”’ transferred to budget
Apr 09, 2014 (LBO) – Sri Lanka’s central bank lost 24.2 billion rupees in 2013, down from profits of 66.2 billion rupees, but the bank had transferred 25 billion rupees in profits to the state budget, its annual accounts showed.Other than interest income from its forex assets, a central bank primarily makes profits from inflation, […]