All Blogs
Sri Lanka state carrier in paperless flight deck ops, PNB
Sept 01, 2012 (LBO) – State-run SriLankan Airlines said it was moving to paperless flight deck operations dropping printed manuals in favour of an electronic flight bag (EFB) based on a mobile electronic device and new navigation procedures. “SriLankan has taken the lead in Asia to revolutionise the flight deck, realising the vision of paperless […]
Tightly Managed
Aug 31, 2012 (LBO) – Profits at Sri Lanka’s Standard Chartered Bank unit rose 20. 9 percent to 1.52 billion rupees in the six months to June 2012 from a year earlier, helped by a surge in forex income, published accounts showed. Total performing loans rose only 5.9 percent to 46.8 billion rupees in the […]
Bridge Contracts
Aug 30, 2012 (LBO) – A contract to build 46 bridges with a 22 million Euro loan has been given to Matiere and Eiffage Constructions Metalliques, a France based consortium, information minister Keheliya Rambukwelle said. The bridges will be built on national highways. The contracts include the building of sidewalks, he said. Sri Lanka contributed […]
Loan Relief
Aug 30, 2012 (LBO) – Several banks in Sri Lanka will suspend recovering farmer loans in drought stricken areas on an order made by President Mahinda Rajapaksa, information minister Keheliya Rambukwella said. The moratorium came after representations made by farmers when President Rajapaksa visited drought stricken areas recently, minister Rambukwelle said. The debt moratorium applies […]
Mortgage Access
Aug 30, 2012 (LBO) – Sri Lanka’s former war zones in the north and the east and areas in the South hit by a tsunami in 2004 will get housing loans from DFCC Vardhana Bank financed by a 15 million US dollar credit from Asian Development Bank. ADB said it the loan from its private […]
Sri Lanka Laugfs expects 398-room hotel chain by end 2014
Aug 30, 2012 (LBO) – Sri Lanka’s Laugfs group is expecting to have 398 hotel rooms operational by end 2014 under its ‘Ananthaya’ branded chain, chairman W K H Wegapitiya said. The chain includes a 75 room hotel in Sigiriya, a 125 room hotel in Waskaduwa a 110 room hotel in Passikudah and an 88 […]
‘s Wife
Aug 30, 2012 (LBO) – Several new appointments announced to the Securities and Exchange Commission of Sri Lanka had connections to firms which were reportedly being probed, and fresh choices with professionals with a clean record should be made, a legislator has said. Former regulator Tilak Karunaratne has said that 17 probes were reaching their […]
Sri Lanka consumer prices rise 9.5-pct to August
Aug 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9. 5 percent in August 2012 from a year earlier, easing slightly from 9. 8 percent in July, with the index falling in absolute terms in the month, the state statistics office said. The Colombo Consumer Price Index fell 0. 6 percent […]
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Aug 29, 2012 (LBO) – Fitch has rated a proposed billion rupee redeemable debt sale by Singer Sri Lanka, a consumer durables retailer ‘A(lka)’ with a stable outlook. “The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, as well as its established franchise and extensive distribution network,” Fitch Ratings […]
Sri Lanka stocks close up 0.2-pct
Aug 29, 2012 (LBO) – Sri Lanka’s stocks closed up 0.2 percent Wednesday in a late rally after running out of steam amid profit taking earlier in the day, brokers said. Free Lanka was next closing at 2.30 rupees with 12.7 million rupees. Index heavy Sri Lanka Telecom extended gains closing up 1.60 rupees at […]