Tag: lankabusinessonline

May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said.Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation to […]

May 17, 2013 (LBO) – Sri Lanka’s post-war economic revival and tightening labour markets are throwing up opportunities for workers from abroad, including those who had left the island, business and state officials said.Central Bank Governor Ajith Cabraal said at the launch of the website that soon after he qualified as an accountant in 1976, […]

May 17, 2013 (LBO) – Sri Lanka can improve gross domestic product calculations to be more in line with international standards and the country does not yet comply with the highest data dissemination standards, the International Monetary Fund has said.“The national accounts suffer from insufficient data sources and undeveloped statistical techniques,” an IMF country report […]

QUITO, May 16, 2013 (AFP) – A ring that smuggled immigrants from India and Sri Lanka into the United States through Ecuador has been broken up with the arrest of six people, Ecuadoran authorities said Thursday.Police, who said the arrests were made following a two-month investigation, seized documents, laptop computers and nearly $100,000 in cash. […]

COLOMBO, May 16, 2013 (AFP) – Sri Lankan troops have completed clearing mines from all areas needed for re-settlement and farming in the island’s former war zone, the military said Thursday, nearly four years after crushing Tamil rebels.Sri Lanka’s army reported one soldier died and 15 were wounded during the mine clearing, while several civilians […]

COLOMBO, May 15, 2013 (AFP) – After crushing Tamil rebels four years ago Sri Lanka expected to become South Asia’s tiger economy, but exuberance has given way to mediocre growth and fears of more trouble ahead.The country was almost broke when troops defeated separatist Tamil Tigers in May 2009, but Colombo predicted that ending 37 […]

May 14, 2013 (LBO) – Sri Lanka has received 218 million US dollars of foreign direct investments in the first quarter of 2013 and is targeting two billion dollars for the full year, investment promotion minister Lakshman Abeywardena said.In 2012 Sri Lanka received 1,338 million US dollars in FDI up from 1,066 million US dollars […]

May 14, 2013 (LBO) – Sri Lanka’s new restrictions on foreign ownership of property will have provisions that will allow non-nationals investing in the country to lease land with a tax of 5 to 15 percent, senior government officials said.Large investment projects may be given permission to purchase land by special approval. Ferdinando said listed […]

May 12, 2013 (LBO) – Sri Lanka has promoted wildlife and natural assets in the Arabian Travel Mart in Dubai this month as part of a drive to grow Middle Eastern visitors 60 percent to 90,000 in 2013, the state tourism office said.It is also best part of the year for beach tourism in the […]