Tag: Sri Lanka

SINGAPORE, May 23, 2013 (AFP) – Oil extended its losses in Asian trade on Thursday on a stronger dollar after the US Federal Reserve hinted that it could ease its massive stimulus policy soon, analysts said. “The reality is that US crude inventory remains high, indicating weak demand as the driving season approaches,” said Spooner. […]

May 22, 2013 (LBO) – Sri Lanka has signed a deal with China Development Bank to borrow 580 million US dollars in 2013 for projects in 2013, the state information office said.The cabinet of ministers had approved a proposal by President Mahinda Rajapaksa as finance minister to sign a memorandum of understanding with CDB. CDB […]

May 21, 2013 (LBO) – A high level conference on building resilient brands kicked off in Colombo Wednesday featuring high level speakers and panelists from Sri Lanka and abroad. http://www.lankabusinessonline.com/summit/hangout Facebook page: https://www.facebook.com/pages/LBR-LBO/161852393984690 Event rundown IST: 0900 1045 HRS GMT/UTC: 0330-0515 HRS Resilient Brands, Resilient Enterprises Peter D’Almeida, Managing Director/N*able (session Char) Deshamanya J. C. […]

May 21, 2013 (LBO) – Sri Lankan conglomerates that had attracted strong foreign investor interest had built resilient investment brands, top executives involved in managing multi-national companies said.Punters in international markets also react like consumers do to brand, as conglomerates which are not easy hermes bags analyze, Lalith de Mel, chairman Hemas Plc and former […]

May 19, 2013 (LBO) – Sri Lankan firms are collaborating with universities to make new and higher value products and services, and was also consulting on management development, a business chamber said.The management and finance faculty of the University of Colombo had done a salary survey and restructuring for a public quoted company and a […]

May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said.Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation to […]

QUITO, May 16, 2013 (AFP) – A ring that smuggled immigrants from India and Sri Lanka into the United States through Ecuador has been broken up with the arrest of six people, Ecuadoran authorities said Thursday.Police, who said the arrests were made following a two-month investigation, seized documents, laptop computers and nearly $100,000 in cash. […]

COLOMBO, May 16, 2013 (AFP) – Sri Lankan troops have completed clearing mines from all areas needed for re-settlement and farming in the island’s former war zone, the military said Thursday, nearly four years after crushing Tamil rebels.Sri Lanka’s army reported one soldier died and 15 were wounded during the mine clearing, while several civilians […]

May 17, 2013 (LBO) – Sri Lanka’s post-war economic revival and tightening labour markets are throwing up opportunities for workers from abroad, including those who had left the island, business and state officials said.Central Bank Governor Ajith Cabraal said at the launch of the website that soon after he qualified as an accountant in 1976, […]

May 17, 2013 (LBO) – Sri Lanka can improve gross domestic product calculations to be more in line with international standards and the country does not yet comply with the highest data dissemination standards, the International Monetary Fund has said.“The national accounts suffer from insufficient data sources and undeveloped statistical techniques,” an IMF country report […]

COLOMBO, May 15, 2013 (AFP) – After crushing Tamil rebels four years ago Sri Lanka expected to become South Asia’s tiger economy, but exuberance has given way to mediocre growth and fears of more trouble ahead.The country was almost broke when troops defeated separatist Tamil Tigers in May 2009, but Colombo predicted that ending 37 […]