Tag: Sri Lanka
Sri Lanka has lower social unrest risk from inflation: S&P
Mar 08, 2011 (LBO) – Sri Lanka is among Asian countries that had lower risks of social unrest from high inflation due to popular administrations, higher growth and lower unemployment, Standard and Poor’s Corporation, a rating agency said. S & P said in a sovereign rating review of the Asia Pacific region that inflation has […]
Sri Lanka had net inflows into capital markets in 2010: CentralBank
Mar 07, 2011 (LBO) – Sri Lanka’s has seen a net capital inflow of 51.8 billion rupees (459 million US dollars) into the country through approved securities investments accounts the Central Bank said. The central bank’s exchange control department in 2010 there had been an inflow of 215.9 billion rupees (1,910 million US dollars in […]
Sri Lanka forex reserves $6.6bn in January
Mar 06, 2011 (LBO) – Sri Lanka’s foreign reserves were 6. 6 billion US dollars by end January 2011, the same level as in December, the Central Bank said, as trade and economic activity expanded. The central bank said the reserves were equal to 5.9 months of imports of the past 12 months of 1,108 […]
”: Sri Lanka
March 4, 2011 (AFP) – A call by the US Senate for an international probe into alleged war crimes in Sri Lanka was “unfortunate”, the government of President Mahinda Rajapakse said Friday. The Sri Lankan government said “well motivated groups” had pressured the Senate to adopt a resolution earlier this week calling for an international […]
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 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 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 […]