Tag: news
Sri Lanka firms short of workers, over 10,000 working on tourist visas: President
Apr 13, 2014 (LBO) – Sri Lankan firms are asking to employ more foreign workers to fill labour shortfalls, with over 10,000 working in the country on tourist visas, President Mahinda Rajapaksa said.“Some companies come and say, allow us to bring workers from abroad, from India,” President Rajapaksa told a business forum where the annual […]
Sri Lanka sovereign bond will not impact exchange rate: CB Governor
Apr 10, 2014 (LBO) – Sri Lanka’s 500 million US dollar sovereign bond sale this week will not impact the exchange rate as the Central Bank is expected to buy the proceeds, though foreign reserves will go up, Governor Nivard Cabraal said.In order to retain the dollars permanently in the foreign reserves and not cause […]
‘s interest rates “appropriate” to current conditions: CB Governor
Apr 09, 2014 (LBO) – Sri Lanka’s interest rates “appropriate” to current conditions where returns particularly on deposits of senior citizens have fallen sharply, Central Bank Governor Nivard Cabraal said.Sri Lanka’s inflation has fallen to around 4 percent in the past quarter and one year deposit rates in commercial banks are around 6 to 7 […]
”’ transferred to budget
Apr 09, 2014 (LBO) – Sri Lanka’s central bank lost 24.2 billion rupees in 2013, down from profits of 66.2 billion rupees, but the bank had transferred 25 billion rupees in profits to the state budget, its annual accounts showed.Other than interest income from its forex assets, a central bank primarily makes profits from inflation, […]
Sri Lanka will not cooperate with UN war probe: minister
COLOMBO, April 7, 2014 (AFP) – Sri Lanka on Monday rejected calls for cooperation with a UN investigation into war crimes and vowed it will not subject itself to the jurisdiction of the world’s highest rights body.Foreign Minister Gamini Lakshman Peiris said Sri Lanka will not allow United Nations High Commissioner for Human Rights Navi […]
Sri Lanka expects 7.8-pct growth in 2014 despite drought
Apr 08, 2014 (LBO) – Sri Lanka is expecting 7.8 percent growth in 2014, officials said despite a drought that is hurting agriculture and requiring more credit for power subsidies, which has de-stablised the economy in the past.“The drought is worrying us to some extent,” Central Bank Governor Nivard Cabraal said. “In the agricultural side […]
India presses Sri Lanka to share power with Tamils
COLOMBO, April 4, 2014 (AFP) – India has asked Sri Lanka to grant limited autonomy to its ethnic Tamil minority and ensure “genuine reconciliation” five years after crushing Tamil guerrillas, New Delhi’s top envoy said Friday.Indian High Commissioner (ambassador) Y.K. Sinha said New Delhi had also urged Colombo to probe allegations that its troops killed […]
US for close economic ties with Sri Lanka rather than sanctions now: envoy
Apr 04, 2014 (LBO) – The US wants to see progress on human rights, rule of law and attacks on religious minorities and was for closer economic ties at this point, rather than economic sanctions, its envoy to Colombo said. She said on March 09, a pastor in a Church in Badulla district was assaulted […]
‘s address to foreign correspondents
Apr 04, 2014 (LBO) – The full text of US ambassador Michele J Sison’s address to the Foreign Correspondents Association in Colombo on Thursday. Ambassador Sison’s Remarks to the Foreign Correspondents Association April 3, 2014 Thank you for inviting me to speak tonight. Last year, you also invited me to speak in early April, and […]
Sri Lanka courts Thai investors
Apr 03, 2014 (LBO) – Sri Lanka is seeking more investors from Thailand, the state investment promotion office said following an investor meeting in Bangkok where there was interest in cosmetics, fisheries, agri business and retailing.The firms make, lace, synthetic sapphires and two hotels and a harvest management company is also expected to start operations, […]
Sri Lanka technical education, female participation to be boosted: ADB
Apr 02, 2014 (LBO) – The Asian Development Bank said it is giving a 100 million dollars loan to Sri Lanka to boost technical education and female participation in technology related courses.“This program will help reduce the significant mismatch that exists between the competencies of graduates and labor market demand, which has left youth unemployment […]
‘s Guangdong province visit Sri Lanka
Apr 02, 2014 (LBO) – A high powered delegation from China’s Guangdong provincial government had visited Sri Lanka and had expressed interest in fish processing, the state investment promotion office said. A Chinese firm is to reclaim the sea near Colombo port to build a new business district and many firms from the country are […]