Tag: Sri Lanka
Sri Lanka exports up 5.4-pct in February, imports fall
May 05, 2014 (LBO) – Sri Lanka’s exports rose 5.4 percent in February 2014 from a year earlier, with apparel exports up 6.6 percent, while imports fell amid weak credit growth, official data showed. The trade deficit contracted 20.7 percent to 503.7 million US dollars. In the first two months of 2014, exports rose 13.9 […]
Sri Lanka temple tackles reconciliation amid fresh fears of fighting
MATARA, May 4, 2014 (AFP) – At a temple in the heart of Sri Lanka’s Sinhalese south, an unusual attempt at reconciliation is underway after decades of ethnic bloodshed, even as the government warns of fresh fighting.Such mythological stories about Sri Lanka’s history are common on the island, whose Sinhalese majority can trace their roots […]
Sri Lanka inflation at 3.5-pct in April by citizen index
May 03, 2014 (LBO) – Sri Lanka’s inflation in the 12-months to April was measured at 3.5 percent, lower than the 4.9 percent shown by the official index compiled by the state statistics office.The CAL UPI Index, compiled by CAL Research, an equities research firm has shown slightly lower than official inflation since December 2013. […]
Global press freedom hits fresh lows: watchdog
WASHINGTON, May 1, 2014 (AFP) – World press freedom has hit its lowest level in a decade, amid regression in Egypt, Turkey and Ukraine, and US efforts to curb national security reporting, a survey showed Thursday.The report by Freedom House, which has been conducting annual surveys since 1980, found that the share of the world’s […]
Sri Lanka Muslims seek protection from nationalist hate
COLOMBO, May 2, 2014 (AFP) – Sri Lanka’s Muslim legislators on Friday asked President Mahinda Rajapakse to protect their minority community from “Buddhist extremist elements” blamed for a recent spate of hate attacks. The country is emerging from nearly four decades of ethnic war which according to UN estimates claimed at least 100,000 lives between […]
Investors concerned over objections to casinos in Sri Lanka: minister
May 02, 2014 (LBO) – Investors have expressed concern over objections to large resorts which were given tax breaks under a strategic investment law to which casinos have been dragged in, Sri Lanka’s deputy investment promotions minister said. Minister Mustapha said the opposition had claimed that the three tax proposals passed in parliament were for […]
Shrugging off Q1 stall, Fed keeps tapering stimulus
WASHINGTON, April 30, 2014 (AFP) – The US economy nearly froze in the glacial first quarter but emerging signs of vigor kept the Federal Reserve on its stimulus taper track Wednesday. The GDP data came as the World Bank reported Wednesday that China’s rapidly expanding economy could leapfrog the United States this year to become […]
‘s inflation accelerates to 4.9-pct in April
Apr 30, 3014 (LBO) – Sri Lanka’s consumer prices rose 4.9 percent in the 12-months to April 2014, accelerating from 4.2 percent in March, data from the state statistics office showed.Sri Lanka’s inflation was relatively low during the past year with credit growth being weak. Prices rose 0.3 percent during April, with the increase coming […]
‘s Ho Chi Minh
Apr 29, 2014 (LBO) – Sri Lanka issued a stamp commemorating Ho Chi Minh, a revolutionary communist leader that led the country to independence from the French who is reputed to have visited the island several times. He had also travelled to Britain the US in the early 1900s and lived and worked in those […]
Sri Lanka firms could gain from cloud computing: SAP
Apr 28, 2014 (LBO) – Companies in Sri Lanka, especially smaller ones, could avoid capital expenditure by using cloud computing to run anything from accounting to procurement and analyze social media, SAP, an information technology firm said. A company could separately purchase services such as accounting, human resources, marketing and sales and procurement, as needed, […]
‘s EPF, ETF: report
Apr 28, 2014 (LBO) – Sri Lanka is making fresh attempts to prevent private sector workers from withdrawing their retirement contributions once they reach 55 years of age, a media report said.The Sunday Times newspaper quoting an un-named official source said the Finance Ministry is drafting legislation to change the governing acts of the Employee’s […]
” rating confirmed, foreign debt, deficits high: Fitch
Apr 28, 2014 (LBO) – Fitch Ratings has confirmed a ‘BB-‘ rating on Sri Lanka with a stable outlook on strong economic growth but said state debt was over twice that of similar rated countries and foreign debt three times as much. “The 2014 budget signals commitment to medium-term debt reduction to maintain a gradual […]