Tag: Sri Lanka
Sri Lanka needs human co-existence, institutions: Chamber boss
June 28, 2013 (LBO) – Sri Lanka has tremendous natural advantages to progress but needs human co-existence and better institutions of governance, a business chamber boss has said amidst rising nationalism and deteriorating institutions of liberty. Shah said Sri Lanka also needs to push exports for growth. He replaced Susantha Ratnayake as the head of […]
Sri Lanka inflation up 6.8-pct in June 2013
June 28, 2013 (LBO) – Sri Lanka consumer prices rose 6.8 percent in the 12-months to June 2013, slowing from 7.3 percent in May, but prices rose 1.3 percent during the month, data from the state statistics office showed. The annual rate fall came from a so-called statistical base effect as last June’s inflation also […]
Sri Lanka President on state visit to Tanzania, Seychelles
June 27, 2013 (LBO) – President Mahinda Rajapaksa has left of Tanzania and Seychelles on the first by a Sri Lankan president to the countries, where he will meet national leaders and attend business forums, his office in Colombo said. Seychelles’ James Alix Michel had visited Sri Lanka last year. President Rajapaksa will attend the […]
Sri Lanka to mop up liquidity surge to temper forex effects
June 26, 2013 (LBO) – Sri Lanka will mop up a surge of liquidity from a 200 basis point reserve ratio cut to temper any pressure on the exchange rate, Central Bank Governor Nivard Cabraal said.The speed at which liquidity hits the forex markets depends on the degree of openness of the economy and the […]
Sri Lanka rupee recent weakness will not hurt inflation: CB Governor
June 25, 2013 (LBO) – A recent weakness in Sri Lanka’s rupee is unlikely to worsen inflation as the currencies of key trading partners, especially India have fallen further, Central Bank Governor Nivard Cabraal said.Analysts say rupee has tended depreciated in recent weeks partly because sometimes it stayed out of from forex markets, when the […]
” vistors pay £3,000 visa bond
LONDON, June 23, 2013 (AFP) – Britain is planning to force visitors from India, Pakistan, Nigeria and other countries whose nationals are deemed to pose a “high risk” of immigration abuse to provide a cash bond before they can enter the country, a report said Sunday. The Sunday Times newspaper said that from November, a […]
Sri Lanka should guard against weather shocks: World Bank
June 23, 2013 (LBO) – Sri Lanka should take steps to guard against shocks from weather related events with projections of rising sea levels and higher temperatures from climate change, the World Bank, a multilateral lender has said.Meanwhile the World Bank said it there had been bad weather in Sri Lanka’s coast and it will […]
Sri Lanka domestic gold prices edge up after tax
Jun 22, 2013 (LBO) – Gold prices in Sri Lanka’s domestic market have started to rise after the state slapped a 10 percent on imports, industry players said.On Friday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 47,500 rupees for 22 carats up about a 1,000 rupees from a […]
Rights group condemn Sri Lanka media code
June 20, 2013 (AFP) – International rights groups on Thursday condemned moves by Sri Lanka’s government to introduce a code of ethics for journalists, saying it would further undermine press freedom.Local journalists have already criticised the planned media code, which is set to be adopted shortly by lawmakers, as being too sweeping and now international […]
Sri Lanka-EU investor forum in Colombo
June 20, 2013 (LBO) – A European Union – Sri Lanka Investor Dialogue will take place in July 09 in Colombo, to foster explore new partnerships and expand existing ones, a business chamber of businesses linked to Europe said.The European Chamber of Commerce of Sri Lanka (ECCSL) said investment promotion minister Lakshman Yapa Abeywardene and […]
Sri Lanka economy grows 6.0-pct in 2013 first quarter
June 18, 2013 (LBO) – Sri Lanka’s gross domestic product grew 6.0 percent in the first quarter of 2013 from a year earlier, slowing from 8.0 percent last year and 6.3 percent in the fourth quarter of 2012, the state statistics office said. In services, wholesale and retail trade grew just 1.0 percent with import […]
Sri Lanka gets new envoy from India
June 18, 2013 (LBO) – Yashvardhan Kumar Sinha, a 32 year veteran in India’s foreign ministry will be the new envoy to Colombo, the Indian High Commission (embassy) in Colombo said.Before coming to Sri Lanka, he was Additional Secretary in the Pakistan-Afghanistan-Iran division at the Ministry of External Affairs, New Delhi. Sinha had arrived in […]