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Sri Lanka tourism training expanded
Aug 03, 2011 (LBO) – State-run Sri Lanka Institute of Tourism & Hotel Management (SLITHM) has increased its intake and is also franchising its courses to private institutions to cater to an expanding industry after the end of a 30-year war, an official said. The hotel school runs a four year hotel management program and […]
Costly Call
NEW DELHI, August 3, 2011 (AFP) – India’s top mobile phone firm Bharti Airtel reported Wednesday a worse-than-expected 28 percent plunge in quarterly profit, hit by costs of its Africa acquisition and investments in 3G. Net profit slid to 12.15 billion rupees ($273.8 million) for the fiscal first quarter to June from a year earlier […]
Mobile Banking
Aug 03, 2011 (LBO) – Dubai-based Etisalat’s Sri Lanka unit said it had inked a deal with with OpenArc, a Colombo-based information technology company to provide a mobile banking service. OpenArc Systems Management started in 1991 and deals in banking and finance, securities and stock market and enterprise resource management solutions. OpenArc chief Daya Hettiarachchi […]
Sri Lanka Insurance to split firm before listing
Aug 03, 2011 (LBO) – State-run Sri Lanka Insurance Corporation will split its general and life businesses as required by the sector regulator, before a public listing, chief executive Mohan de Alwis said. The composite firm earned gross written premiums of 15. 2 billion rupees up from 13.54 billion rupees a year earlier. In 2010 […]
Sri Lanka to revive handloom craft
Aug 03, 2011 (LBO) – Sri Lanka plans to revive its handloom textile industry in the war-torn north-east with a project modelled on the Rwandan Peace Collection where baskets woven by war-widows were sold at Macy’s department stores. “Local handloom producers need to develop and use natural dyes, such as spices, flowers and wood chips. […]
Sri Lanka knitwear firm lose Rs171mn
Aug 03, 2011 (LBO) – Sri Lanka’s Hayleys MGT, a knitwear maker, said it lost 171 million rupees in the June 2011 quarter from a year erarlier, as revenues fell 9 percent to 1. 43 billion rupees. Gross profits fell to 111 million rupees in the quarter from 246 million rupees a year earlier and […]
US deficit spenders descend to last refuge
WASHINGTON, August 3, 2011 (AFP) – “Terrorist” US lawmakers; Tea Party conservatives holding the nation “hostage;” Republicans “hijacking” the debt deal. Is this any way to conduct a political debate? The Politico news website said Vice President Joe Biden, who attended the meeting, used the term, although he and the White House denied it. Doyle […]
Sri Lanka stocks end down 0.5-pct
Aug 02, 2011 (LBO) — Sri Lankan stocks closed lower Tuesday amid profit-taking in a retail-driven market and renewed retail interest in Blue Diamond Jewellery Worldwide, brokers said. The day’s crossings or off –market privately negotiated deals were 200,000 shares of Hatton National Bank at 219 rupees each, 105,000 shares of Colonial Motors at 295. […]
Harbour Traffic
Aug 02, 2011 (LBO) – The Sri Lanka Ports Authority has started work on widening a bridge inside Colombo port to ease traffic congestion within the harbour caused by an influx of cargo as trade recovers after a war. We have fulfilled a long awaited requirement of purchasing new operation equipment. Currently, 03 new gantry […]
Bow Wave
Aug 02, 2011 (LBO) – A newly started ferry service between India and Sri Lanka is becoming more popular and the group which operates the ferry from the Indian side, Flemingo Liners plans to add more services, an official said. Some passengers have also started to make use of a facility to take their cars […]