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Payment Outsourcing
Mar 14, 2013 (LBO) – Paycorp International, an Australia based firm will set up an outsourcing unit in Sri Lanka employing 100 persons, the state investment promotion agency said.Paycorp will invest 4.4 million US dollars in the project, the Board of Investment of Sri Lanka, which give tax breaks for foreign investments said. “Culturally and […]
Google Interaction
Mar 14, 2013 (LBO) – Julian Persaud, managing director of sales and operations of Google for Southeast Asia will participate in a business forum with Sri Lanka’s information technology companies on March 19.Persaud will also be on a panel with Madu Ratnayake, General Manager ,Virtusa,Sri Lanka, Sanath Fernando-CEO, Ridgecrest Asia (Pvt) Ltd and Chandika Jayasundara-CEO, […]
Sri Lanka move to push cargo at Mattala welcomed by policy advocate
Mar 14, 2013 (LBO) – Moves by Sri Lanka’s airport agency to woo courier airlines to the island’s second international airline was welcomed by a policy specialist who had been advocating such action.“While the volumes of air freight carried by these companies as well as others such as DHL and TNT are growing rapidly in […]
Sri Lanka Mattala airport interests A380 operators: official
Mar 14, 2013 (LBO) – Sri Lanka’s second international airport in Mattala is attracting interest from Airbus A380 operators, and the airport agency stands to earn more navigation fees from overflying aircraft, a top official said.Sri Lanka already earns navigation fees from aircraft overflying its flight information region, but industry analysts have said that the […]
” rating confirmed: RAM
Mar 13, 2013 (LBO) – RAM Ratings Lanka said it had confirmed an ‘A-‘ rating on Lankem Ceylon Plc, with a ‘stable’ outlook.Its short-term ‘P2’ rating was also confirmed. “The ratings are supported by its diversity in business operations, dominant market positions in most of its business lines, the resilient demand for agrochemicals, and above […]
Sri Lanka Treasuries yields up
Mar 13, 2013 (LBO) – Sri Lanka’s Treasuries yields edged up across maturities at Wednesday’s auction with the three month yield rising 05 basis points to 9.16 percent, data from the state debt office said.The 6-month yield rose 05 basis points to 10.15 percent and the 12-month yield rose 05 basis points to 11.19 percent. […]
Sri Lanka tourism arrivals up 13.4-pct in Jan
Mar 13, 2013 (LBO) – Sri Lanka’s tourism arrivals rose 13. 4 percent to 97,411 in January 2013 from a year earlier, with double digit growth from Western Europe and China, the state tourism promotion office data showed. Indian visitors which grew just 2.9 percent in the whole of 2012 after visa requirements were re-imposed […]
Sri Lanka in bid to draw courier airlines to Mattala airport
Mar 13, 2013 (LBO) – Sri Lanka is in talks with international courier airlines including UPS, Fedex and DHL to base operations at a new airport that is opening on March 18, the island’s state-run airport agency chief said.“We are talking to courier airlines, UPS, Fedex, DHL,” Prasanna Wickramasuriya, chairman of Airport and Aviation Services […]
Sri Lanka power regulator says costs slashed by Rs3.65 a unit
Mar 13, 2013 (LBO) – Sri Lanka’s Public Utilities Commission, the island’s power regulator says it had dis-allowed 40 billion rupees of costs filed by state-run Ceylon Electricity Board, before seeking public comments on a proposed tariff hike. The Ceylon Electricity Board initially filed costs 268 billion rupees to produce 10, GigaWatt hours (millions of […]
‘s
Mar 13, 2013 (LBO) – Sri Lanka is facing higher external pressure due to lack on a program with the International Monetary Fund and also slower growth, Moody’s Investors Service, a rating agency said.“Although the government will likely continue to make gradual progress in reducing its deficit, the debt burden will remain high,” Moody’s said. […]