Tag: news
‘s inflation eases to 6.4-pct in April
April 30, 2013 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 6.5 percent in April 2013, from a year earlier, easing down from 7.5 percent in March, the state statistics office said.The Colombo Consumer Price Index fell 0.5 percent or 0.8 points during the month to 170 points during the month helped by a […]
Australia rejects calls to boycott Sri Lanka meet
SYDNEY, April 27, 2013 (AFP) – Australia has vowed not to boycott the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka over allegations of human rights violations, despite mounting calls not to attend.Backed by India, the United States and European nations, the UN Human Rights Council last month called for an investigation into suspected […]
Sri Lanka loses 0.5-pct of GDP in taxes from state worker car permits
Apr 27, 2013 (LBO) – Sri Lanka has lost 38.5 billion rupees in potential revenues from imported vehicles due to tax-slashed permits given to state functionaries, a government estimate showed. The so-called ‘car permits’ are now being sold in the secondary market and state functionaries are making tax-arbitrage profits. The practice which was carried on […]
‘s deputy PM to visit Sri Lanka
Apr 27, 2013 (LBO) – Japan’s deputy Prime Minister Taro Aso and senior Vice Minister of Finance Yuko Obuchi will be on a two day visit in Sri Lanka from May 01, the Japanese embassy in Colombo said. They will meet President Mahinda Rajapaksa and visit the Port of Colombo, which has expanded over the […]
Sri Lanka can remove obstacles to creating jobs: World Bank
Apr 25, 2013 (LBO) – Sri Lanka can help citizens better themselves by removing obstacles to creating new and better jobs, including for women, the World Bank said. The development agency based on the theme of its World Development Report 2013, says creating opportunities for jobs are critical for reducing poverty. “One of the biggest […]
India says aid projects progressing in Sri Lanka
Apr 24, 2013 (LBO) – An Indian foreign ministry committee has evaluated the progress of several projects funded by the country’s tax payer in Sri Lanka mainly in war torn areas in the north.India’s High Commission (embassy) in Colombo said a monitoring committee led by P S Raghavan, special secretary development administration and Bimal Julka, […]
Slipping
Apr 24, 2013 (LBO) – Demand for lubricants fell in the first quarter, on the back of a slowing economy and lower thermal power generation but profits at Sri Lanka’s Chevron Lubricant unit profits rose amid falling expenses, interim accounts showed.Floods had also hurt agriculture and users were moving to longer lasting higher technology lubricants. […]
Gold prices edge up in Sri Lanka
Apr 23, 2013 (LBO) – Sri Lanka’s gold prices have risen slightly from a week earlier along with a recovery in the international prices, industry players said.On Tuesday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 46,000 rupees for 22 carats, after falling from highs of 54,000 in March, […]
Secondary education quality drive in Sri Lanka backed by ADB
Apr 19, 2013 (LBO) – A drive to improve the quality of Sri Lanka’s state-run secondary education system is receiving 200 million US dollars in Asian Development Bank support from its results based lending program.The ADB is expected to give 120 million US dollars from its ordinary capital resources window for 26 years including a […]
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Apr, 18 2013 (LBO) – Sri Lanka’s central bank said it had hired a US public relations firm to counter attempts to “tarnish the political image and true economic successes” of the island by “groups with dubious agendas.” “..[I]f such campaign continues without a counter campaign to correct the misconceptions it may have the potential […]
Petro Law
Apr 18, 2013 (LBO) – Sri Lanka will introduce a new law on oil exploration and incorporate a separate entity to regulate upstream petroleum activities, minister Keheliya Rambukwelle said. Sri Lanka’s Petroleum Resources Development Secretariat will be incorporated into an independent regulatory body with responsibility to prepare government policy on petroleum exploration and production. It […]
Sri Lanka central bank may buy gold: CB Governor
Apr 17, 2013 (LBO) – Sri Lanka’s central bank, an active trader in gold which cut its holdings last year may buy into gold, now that it is falling, Central Bank Governor Nivard Cabraal has said. “Overall, gold prices coming down is giving an opportunity to various central banks across the world to improve on […]