Tag: lankabusinessonline
‘s CPC breaks even in 2013: minister
Dec 31, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has reached break even status in 2013, after a 60 million US dollar legacy oil derivative cost that went against it, a minister said.Petroleum industries minister Anura Yapa said the agency is also collecting arrears from state agencies including Ceylon Electricity Board, SriLankan Airlines […]
Sri Lanka inflation at 4.7-pct in December 2013
Dec 31, 2013 (LBO) – Sri Lanka’s consumer prices rose 4.7 percent in the 12 months to December 2013, slowing from 5.6 percent in November, the state statistics office said.In the month of December the widely watched Colombo Consumer Price Index remained flat during the month at 176.5 points, the same as in November. Sri […]
Sri Lanka deports Indian reporter covering ex-warzone
COLOMBO, December 28, 2013 (AFP) – Sri Lanka on Saturday deported an Indian journalist arrested on a charge of working in the island’s former war zone without media credentials, police said. The 24-year-old, who was working for a magazine based in the Indian city of Chennai, was arrested on Christmas Day for photographing military installations […]
Christians increasingly under threat: Catholic observers
VATICAN CITY, December 25, 2013 (AFP) – Thousands of Christians are killed every year because of their faith and the persecution is becoming more widespread, Catholic observers said as Christmas celebrations are increasingly marred by attacks in at-risk countries.Experts have pointed to three main types of anti-Christian violence — the main one being religious radicalism […]
Bolivia leader — an ex-child worker — opposes child labor age
LA PAZ, December 23, 2013 (AFP) – President Evo Morales said Monday he opposed any outright ban on child labor or setting a minimum age for workers in Bolivia — as a former child worker, himself.Despite recent declines in the worldwide incidence of child labor, much more must be done to tackle the issue, the […]
Sri Lanka IMF rep gets warm send-off
Dec 23, 2013 (LBO) – Sri Lanka’s resident representative from the International Monetary Fund, Koshy Mathai got a warm send off from authorities in the island at the end of four years and the first completed program in the island’s history.“We had a good program, we had a very interesting outcome and after that we […]
Sri Lanka US$74mn water supply system deal to US firm
Dec 23, 2013 (LBO) – Tetra Tech Inc, a US based firm said it had won a 74 million US dollar contract from Sri Lanka to build a water supply and treatment plant. The US Export-Import Bank has received renewed impetus under Obama administration’s export drive. The US Export-Import Bank is financing the deal. Tetra […]
Sri Lanka will have to reverse de-liberalization for growth: Razeen Sally
Dec 20, 2013 (LBO) – Sri Lanka will have to reverse a recent trend of de-liberalization to spur growth to high levels and work towards greater macro-stability, which has been a chronic problem, a top international economist said. Protection for domestic business drives capital and factors of production towards inefficient tax arbitraging rent seeking businesses […]
Emerging markets sees end of good times: Razeen Sally
Dec 19, 2013 (LBO) – Emerging markets are seeing the end of almost a decade of good times as the lack of new reforms to spur economic activity takes its toll, a top international economist said.Developing economies continued to grow following the end of a global financial crisis, bringing continuing high growth, Razeen Sally, a […]
‘s APIIT
Dec 18, 2013 (LBO) – A Malaysia based private equity firm linked to the state is in talks to acquire APIIT Lanka (Pvt) Ltd, a Sri Lanka based tertiary education institute, a media report said.Higher education is a growing sector in Sri Lanka with high demand and the current administration is relaxing a state monopoly […]
Sri Lanka re-issues investment approvals on casino resorts
Dec 18, 2013 (LBO) – Sri Lanka has re-issued notices on tax concessions to three casino resorts with no mention of gaming being made, after initial investment approvals were withdrawn under fire.The state has issued gazette notices for Lake Leisure Holdings by Australian gaming tycoon James Packer and local entrepreneur Ravi Wijeratne, Queensbury Leisure by […]
Sri Lanka and Kenya ink deals in tourism, trade and economic co-operation
Dec 15, 2013 (LBO) – Sri Lanka and Kenya has signed agreements in tourism, trade, economic, commercial and technical co-operation during a four day state visit by President Mahinda Rajapaksa.Sri Lanka’s President Mahinda Rajapaksa is on a four day state visit to Kenya. His media office said the two leaders also had talks on further […]