Tag: Sri Lanka
Sri Lanka can boost investment profile at CHOGM: Standard Chartered
Nov 07, 2013 (LBO) – Sri Lanka can boost its investment profile at a Commonwealth Head of Government meet this month, Standard Chartered Bank, one of the principal sponsors of a business forum associated with the event said.“Sri Lanka needs to showcase itself to the external world,” Anirvan Ghosh Dastidar, chief executive of the Standard […]
Pressure mounts on Indian PM to boycott Commonwealth meet
NEW DELHI, November 4, 2013 (AFP) – A senior Indian minister Monday urged Prime Minister Manmohan Singh to boycott a Commonwealth summit in Sri Lanka over human rights abuses, joining opposition in government ranks to the trip.Environment Minister Jayanthi Natarajan said she wanted Singh to consider the “strong sentiments” of ethnic Tamils and stay away […]
Vietnam seeks more business with Sri Lanka
Nov 02, 2013 (LBO) – A delegation of 15 Vietnamese companies is visiting Sri Lanka this month seeking local partners and agents, the Ceylon Chamber of Commerce said. There will be business to business meeting on November 18 at the Ceylon Chamber of Commerce office. The firms represent makers of machinery such as rice reapers, […]
Sri Lanka inflation at 6.7-pct in October
Oct 31, 2013 (LBO) – Sri Lanka’s consumer prices rose 6.7 percent in October 2013 from a year earlier, accelerating from 6.2 percent in September, the state statistics office said. Sri Lanka’s Colombo Consumer Price Index rose 0.2 percent in the month to 176.1 points in the month. Sri Lanka’s inflation has been stable for […]
Sri Lanka hotels profits may be squeezed by rising labour costs
Oct 30, 2013 (LBO) – Shortfalls of labour amid fast growth in Sri Lanka’s tourism sector may squeeze profits and undermine industry attempts to boost product quality, an official said.“We will seriously need to see how we can halt the current shortage of staff,” Jayantissa Kehelpannala, president of the Tourist Hotels Association of Sri Lanka […]
Sri Lanka makes more reforms but slips in Doing Business ranking
Oct 29, 2013 (LBO) – Sri Lanka made the most changes in South Asia making it easier to do business, but the country slipped to 85 from 81 in a global ranking compiled by the World Bank group as several other nations raced ahead.The World Bank group’s ‘Doing Business 2014’ report said Sri Lanka was […]
Sri Lanka has to cut budget deficit, boost rule of law, for growth: economists
Oct 26, 2013 (LBO) – Sri Lanka has to reduce its budget deficit to boost domestic savings and improve rule of law to create a better environment for investment, economists said.Reduction of budget deficits will increase domestic savings, reducing the dependency on foreign borrowings for investments, A V de S Indraratne, chairman of Sri Lanka […]
Lube Slip
Oct 25, 2013 (LBO) – Sri Lanka’s Chevron Lubricants reported higher profits with falling base oil prices but said the lubricant market was contracting. Revenues in the September 2013 quarter fell 7 percent to 2.7 billion rupees from a year earlier, with cost of sales falling at a faster 15 percent to 1.75 billion rupees, […]
‘s ex-warzone
October 25, 2013 (AFP) – Britain’s David Cameron is set to become the first foreign leader to visit Sri Lanka’s war-torn Tamil heartland during next month’s Commonwealth summit when he will press Colombo on human rights.British High Commissioner (ambassador) in Colombo, John Rankin, made it clear last week that London’s concern was not limited to […]
‘s new trunk road
COLOMBO, October 24, 2013 (AFP) – Twenty-four elephants lined up for a race Thursday on Sri Lanka’s newest expressway, but thousands of spectators were left disappointed when organisers scrapped the event due to safety concerns. The animals and jockeys were jostling at the start line on the Chinese-built 25.8-kilometre (16 mile) four-lane expressway from the […]
Sri Lanka budget carrier to operate Boeing 737s from 2015
Oct 25, 2013 (LBO) – Sri Lanka’s state-run Mihin Air, will operate two Boeing 737-800 aircraft from 2015, chief executive officer Kapila Chandrasena said. The two aircraft is being leased from Air Lease Corporation. Chandrasena said the aircraft are expected to be delivered in June and July 2015. Mihin Lanka co-ordinates its operations with full-service […]
Sri Lanka DFCC says 9.6-pct dollar bond profitable
Oct 25, 2013 (LBO) – Sri Lanka’s DFCC Bank said 100 million US dollars from a 5-year bond sale at 9.6 percent was still profitable, and compared ‘very favourably’ with the cost of raising rupee funds.DFCC said it will use the 100 million US dollars to retire existing borrowings, on-lend to infrastructure development and key […]