Tag: lankabusinessonline
Sri Lanka gets US$540mn in FDI in 2013 first half
Sept 17, 2013 (LBO) – Sri Lanka has received 540 million US dollars in foreign direct investments up to June 2013 up 20 percent from a year earlier, investment promotions minister Lakshman Abeywardene said.The top investor in the period was Colombo International Container Terminal, from China and Hong Kong with 116.7 million US dollars, followed […]
Sri Lanka casino resort tax breaks firmed
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 […]
Pressure on Sri Lanka finances shown by high bond yield: opposition
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 […]
‘s economy grows 6.8-pct in 2Q 2013
Sept 13, 20132 (LBO) – Sri Lanka’s economy grew 6.8 percent in the June 2013 quarter from a year earlier, the state statistics office said.Government services grew 3.9 percent. The agriculture sector shrank 1.1 percent; industry grew 10.1 percent and services 6.6 percent. In agriculture tea had contracted 0.5 percent, rubber had grown 2.0 percent, […]
Sri Lanka frees 736 convicts on prison day
COLOMBO, September 12, 2013 (AFP) – Sri Lanka on Thursday released 736 convicts after they were given a presidential pardon to mark the country’s prisoner day, officials said. Convicts serving time for minor offences were granted the amnesty and walked free from 22 jails across the country, prisons department spokesman Gamini Kulatunga said. “The president […]
Sri Lanka economics book released
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 […]
Energy View
PARIS, September 12, 2013 (AFP) – An increase in output should help cushion oil markets seized by tension over a possible conflict in the Middle East, the IEA said Thursday, with emerging market nations facing difficulties due to their falling currencies.The slow pace of the global economy led the International Energy Agency to keep its […]
Multinationals to get equal treatment in China: premier
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 […]
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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 […]
UN raises fresh fears for Sri Lanka rights defenders
GENEVA, September 9, 2013 (AFP) – The UN rights chief Monday raised fresh concerns for the safety of Sri Lankan journalists and activists she said had been harassed by the authorities for meeting with her. Navi Pillay told the UN Human Rights Council in Geneva she was worried about those she met during her week-long […]
Gas Premium
TOKYO, September 10, 2013 (AFP) – Japan called Tuesday for a reduction in the price of liquefied natural gas and a rebalancing of the global market.“I don’t understand this phenomenon,” he told the conference. Hirose added that the vast utility was diversifying its energy sources in order to reduce costs. But officials from gas-producing nations […]
‘s war ravaged provinces grow fastest in 2012
Sept 10, 2013 (LBO) – Sri Lanka’s war ravaged Northern and Eastern provinces grew fastest in 2013, though starting from a low base, helped by construction but also banking and agriculture, the Central Bank said. The share of Central Province was flat at 9.8 percent. The North Central (4.7 percent), UVA 4.5 percent and Sabaragamuwa […]