Tag: Sri Lanka
”s new boat people policy
UDAPPUWA, September 20, 2013 (AFP) – As Australia’s new government launches tough measures to halt asylum seekers arriving on boats, some dirt-poor fishermen and their families half a world away in Sri Lanka seem undeterred. Although Armugasamy did not fullfil his dream of resettling in Australia, he still hopes the journey was worth it. The […]
‘s first online investment application from UK oil services firm
Sept 19, 2013 (LBO) – Sri Lanka’s foreign investment agency said a UK based oil services firm had been the first to use its online investment application portal on September 18, within a day of its launch.Sri Lanka’s Board of Investment launched the web portal for investment applications on September 17, promising to make the […]
Four Sri Lankans on global economics blog
Sep 19, 2013 (LBO) – Future Development: Economics to End Poverty, a blog to create a discussion on global development issues has been launched, led by World Bank economist Shanta Devaranjan in which four Sri Lankans are included.Basic tools of mobility that helped improve living standards and productivity in ‘developed countries’ such as cars and […]
‘s ex-war zone vote
JAFFNA, September 18, 2013 (AFP) – Foreign observers held talks with officials and candidates in Sri Lanka’s former war zone Wednesday to ensure the region’s first elections to choose a semi-autonomous council pass off peacefully, officials said. Some 906 candidates are contesting the 36 seats in the Northern council which is going to the polls […]
Sri Lanka holds policy rates, says lending rates easing
Sept 17, 2013 (LBO) – Sri Lanka’s central bank kept its policy rate band at 7.0 and 9.0 percent saying lower pressure from the state budget deficit is expected to bring down lending rates further.“Continued fiscal consolidation efforts by the government and greater financial discipline of public corporations are expected to reduce the public sector’s […]
‘s BOI launches online investment portal
Sept 19, 2013 (LBO) – Sri Lanka has launched Board of Investment launched an online portal for investors to submit applications making it even easier, investment promotions minister Lakshman Abeywardene said. “This makes it very easy for investors to submit applications,” he told reporters. “They can also pay the relevant fees.” An investor can create […]
Sri Lanka gets US$540mn in FDI in 2013 first half
Sept 17, 2013 (LBO) – Sri Lanka has received 540 million US dollars in foreign direct investments up to June 2013 up 20 percent from a year earlier, investment promotions minister Lakshman Abeywardene said.The top investor in the period was Colombo International Container Terminal, from China and Hong Kong with 116.7 million US dollars, followed […]
Sri Lanka casino resort tax breaks firmed
Sept 13, 2013 (LBO) – Tax breaks for two casino resorts including one by Australia’s Crown group have been firmed with the cabinet of ministers giving the nod for tax breaks previously announced for large investments.Sri Lanka is pushing a casino strategy to draw high spending tourists, which can fill city five star hotel rooms […]
‘s economy grows 6.8-pct in 2Q 2013
Sept 13, 20132 (LBO) – Sri Lanka’s economy grew 6.8 percent in the June 2013 quarter from a year earlier, the state statistics office said.Government services grew 3.9 percent. The agriculture sector shrank 1.1 percent; industry grew 10.1 percent and services 6.6 percent. In agriculture tea had contracted 0.5 percent, rubber had grown 2.0 percent, […]
Pressure on Sri Lanka finances shown by high bond yield: opposition
Sept 14, 2013 (LBO) – Sri Lanka’s willingness to go as high as 9.00 percent a year to raise dollars from international markets shows the fiscal pressure brought on by high spending, an opposition legislator has said. Harsha de Silva, an economist said, dollar loan rates of around 9.00 percent was too high for people […]
Sri Lanka frees 736 convicts on prison day
COLOMBO, September 12, 2013 (AFP) – Sri Lanka on Thursday released 736 convicts after they were given a presidential pardon to mark the country’s prisoner day, officials said. Convicts serving time for minor offences were granted the amnesty and walked free from 22 jails across the country, prisons department spokesman Gamini Kulatunga said. “The president […]
Energy View
PARIS, September 12, 2013 (AFP) – An increase in output should help cushion oil markets seized by tension over a possible conflict in the Middle East, the IEA said Thursday, with emerging market nations facing difficulties due to their falling currencies.The slow pace of the global economy led the International Energy Agency to keep its […]