Tag: lbo
Jet Fuel
Mar 04, 2011 (LBO) – Sri Lanka is to expand to three million litres storage capacity at an aircraft refuelling facility in a new international airport being built in the south, a petroleum ministry statement said. The state-owned refiner, Ceylon Petroleum Corporation, is to design and fund the aircraft hydrant refuelling system at the Maththala […]
Gas Share
Mar 04, 2011 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is to lose exclusive rights to buy the entire LPG production of the state oil refiner Ceylon Petroleum Corporation, a government statement said. The supply deal with the CPC is also under an order of the Supreme Court and Laugfs also relies […]
Sri Lanka to revamp tax concessions for investors: minister
Mar 03, 2011 (LBO) – Sri Lanka’s government is preparing new laws to speed up investment approvals with existing tax breaks by the investment promotion agency being abolished, a minister said. The war ended nearly two years ago enabling the government to end tax concessions that had caused heavy revenue losses. “We have brought a […]
” with current rates, despite inflation, forex pressure
Mar 03, 2011 (LBO) – Sri Lanka is comfortable with current interest rates, Central Bank governor Nivard Cabraal said despite a spike in consumer prices to a two year high and an outflow of foreign reserves. Sri Lanka has some of the highest policy rates in the world at 7. 00 percent to drain excess […]
Sri Lanka coast guard beefs up surveillance with new boat
Mar 02, 2011 (LBO) – Sri Lanka’s fledgling coast guard took delivery of a patrol craft built by the navy that will help combat poaching and human smuggling and better protect economic resources, officials said. The 14.5-metre fibre-glass boat was built by the navy largely for shallow water patrolling, making use of facilities that built […]
Sri Lanka port to double bunker storage
Mar 01, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) said it is more than doubling bunker storage facilities in Colombo port to cater to an increasing number of ship fuel suppliers. Sales volumes have increased in recent months and the number of bunker supply license holders had increased to 11 from eight in […]
Sri Lanka tea exporter to expand in Russia
Mar 01, 2011 (LBO) – Riston Group, a big Sri Lankan tea exporter to Russia, plans to expand production there with a new factory and also penetrate other markets, company officials said. The firm intends to set up a factory with a floor area of 150,000 square feet this year, which will help to cut […]
Sri Lanka risks forced war crimes probe: US
March 1, 2011 (AFP) – Sri Lanka could be hauled before a war crimes tribunal over the killing of “many thousands of civilians” in the final months of its separatist war with Tamil rebels, a top US official said. In the toughest warning since the end of fighting in May 2009, US Assistant Secretary of […]
Sri Lanka loan plan to be revamped fast: World Bank
Feb 28, 2011 (LBO) – Sri Lanka’s World Bank office will accelerate its current programs start working on a new loan plan that will involve larger projects in fewer sectors at more market based rates, an official said. Elements of the current program dates back from before the end of a 30-year war in 2009. […]
” as Asian workers land in Malta
VALLETTA, February 28, 2011 (AFP) – The UN refugee agency said a “humanitarian emergency” was underway as thousands fled Libya over the weekend in a mass exodus of foreigners from the strife-torn country by air, land and sea. The agency said almost 100,000 migrant workers, mostly from Egypt and Tunisia, had fled Libya in the […]
Sri Lanka central banker meet mulls stimulus exit strategies
Feb 28, 2011 (LBO) – South and South East Asian central bank chiefs who met in Sri Lanka had discussed ways to exit deficit spending and loose monetary policy adopted during a global downturn, amid rising inflation and property bubbles. Several Asian countries followed their advanced nations counterparts in boosting state spending and money printing […]
Sri Lanka inflation accelerates to 7.8-pct in February 2011
Feb 28, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to 7.8 percent in the 12-months to February from a year earlier, up from 6. 9 percent in January the government’s statistics office said. Prices rose 1.2 percent in the month of February alone continuing a trend seen in September. In September […]