Tag: lankabusinessonline
Sri Lanka weak state revenue raises queries on taxless growth: legislator
Nov 20, 2013 (LBO) – Sri Lanka’s weak revenue collections in the first half of the year raised questions about the accuracy of gross domestic product estimates, an opposition legislator who is also an economist has said. Sri Lanka is recovering from a balance of payments crisis largely driven by credit taken by state enterprises […]
Sri Lanka port leases tanks to Litro Gas
Nov 20, 2013 (LBO) – State-run Sri Lanka Ports Authority said it had leased liquefied petroleum gas tanks in a facility at newly built Hambantota port to another state run firm.The LPG distribution firm was acquired by the state when Shell sold out. Three tanks with a capacity of 6,000 cubic metres each had been […]
Sri Lanka consumer durables group, sales, profits drop
Nov 18, 2013 (LBO) – Profits and revenues at Singer (Sri Lanka) Plc, a top consumer durables seller dropped 67 percent to 62 million rupees in the September 2013 quarter from a year earlier, amid tight economic conditions.Furniture, transport and agro products also dropped. But communications sector rose to 871 million rupees from 338 million […]
Commonwealth puts on united front after summit rifts
COLOMBO, November 17, 2013 (AFP) – Commonwealth leaders agreed Sunday on steps to tackle high debt and poverty as they staged a show of unity after a summit in Sri Lanka dominated by a bitter dispute over war crimes.Following a three-day meeting in Colombo, Sri Lankan President Mahinda Rajapakse announced that a communique had been […]
Small states seek Commonwealth backing for cheap credit at Sri Lanka meet
Nov 17, 2013 (LBO) – Small states are seeking endorsement from Commonwealth leaders at a in their bid to regain access to cheap finance from multilateral lenders, at a summit meeting in Sri Lanka. Without the ability to depreciate the currency, rulers lose the principle ability to impoverish the population and their path is clear […]
Colombo Declaration after Sri Lanka Commonwealth summit
Nov 17, 2013 (LBO) – Leaders of Commonwealth nations have issued a declaration after meeting in Sri Lanka’s capital Colombo calling for ‘equitable’ growth, better education and inclusivity for women, youth and the disabled.The full statement is reproduced below:- Commonwealth Heads of Government Meeting (CHOGM) 15-17 November, 2013 Colombo Declaration on Sustainable, Inclusive and Equitable […]
Mauritius pulls out of hosting 2015 CHOGM: PM
PORT LOUIS, November 15, 2013 (AFP) – The prime minister of Mauritius said Friday his country was withdrawing as host of the next Commonwealth summit as a result of his decision to boycott this year’s meeting in Sri Lanka.Sri Lanka has been accused of widespread human rights abuses against its Tamil minority as well as […]
” on rights: Cameron
COLOMBO, November 16, 2013 (AFP) – Britain’s Prime Minister David Cameron urged Sri Lanka Saturday to move “further and faster” to address allegations of war crimes, saying the issue would remain high on the international agenda. “The Sri Lankan government needs to go further and faster on human rights and reconciliation,” Cameron told a press […]
Sri Lanka rejects international war crimes probe
COLOMBO, November 16, 2013 (AFP) – A top minister rejected pressure Saturday for an international probe into alleged war crimes at the end of Sri Lanka’s ethnic conflict, saying the government would “definitely” not allow one.“Why should we have an international inquiry?We will object to it … Definitely, we are not going to allow it,” […]
Sri Lanka exports up 11-pct in September
Nov 15, 2013 (LBO) – Sri Lanka’s exports rose 11 percent to 890 million US dollars with apparel exports surging 27 percent to 386 million US dollars amid a recovery in US and European markets, the Central Bank said. Apparel exports rose 30.7 percent to the US and 27.7 percent to the EU. Rubber product […]
Sri Lanka President says Commonwealth should not be judgmental
Nov 15, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa said the Commonwealth should not be a judgmental or punitive body at a meeting of heads of governments of member countries in Colombo.The Commonwealth meet had been clouded over war crimes allegations against Colombo over the last stages of a civil war which ended in […]
Calls for travel and food freedoms at Sri Lanka Commonwealth meet
Nov 15, 2013 (LBO) – The Commonwealth was home to half the world’s hungry and their pain can be eased by freeing access to food, Australian Prime Minister Tony Abbot said at a summit meeting in Sri Lanka, while a top official called for greater travel freedoms.The Commonwealth is made up of countries in the […]