All Blogs
‘s Taj hotels
Sept 24, 2010 (LBO) – India’s Taj group is looking for opportunities in Sri Lanka’s war-torn eastern coast and a city hotel it controls will also need 30 to 35 million US dollars to be upgraded to fit the group’s new brand portfolio, officials said. India itself sends more tourists to Sri Lanka than any […]
Sri Lanka Taj airport hotel expanding, rebranded
Sept 24, 2010 (LBO) – Sri Lanka’s Taj Airport Garden Hotel, a 130 room hotel will be expanded with 100 more rooms and rebranded under the group’s ‘The Gateway Hotel’ as part of a renewed marketing push, officials said. “The rebranding will take place from January 2010,” general manager Mathew Thomas said. “In two months […]
Sri Lanka natural resources seen threatened by weak laws
Sept 24, 2010 (LBO) – Protection of natural resources in Sri Lanka is endangered by the lack of peoples’ right to information and legal confusion created by devolution of power, an expert said. “Unless there’s an effective mechanism put in place and implemented vigorously it is not only poor people’s lifestyles but also natural resources […]
Ahletes set to arrive as things look up for Delhi
NEW DELHI, September 23, 2010 (AFP) – New Delhi’s beleaguered Commonwealth Games was set to welcome its first athletes Friday after receiving a much-needed boost when Team England said they would definitely be participating. The announcement came after the Commonwealth Games Federation signalled Delhi was succeeding in fixing the problems that have brought the event […]
Sri Lanka may deduct more money from private worker salaries
Sept 24, 2010 (LBO) – Sri Lanka’s government may take away more money from the salaries of private sector workers to set up another pension fund, a government minister said, amid concerns about the management of an existing fund. A few years ago an attempt to create a contributed pension fund for state workers was […]
Sri Lanka private sector employees to get new pension scheme
Sept 24, 2010 (LBO) – The Sri Lankan government plans to introduce a pension scheme for private sector employees soon, Gamini Lokuge, Minister of Labour Relations and Productivity Promotion, said. Lokuge also said the pension payments will be made up to the death of the recipient and their dependents will not be entitled to it. […]
Sri Lanka stocks close up 1.03-pct
Sept 23, 2010 (LBO) – Sri Lankan shares edged higher into record territory Thursday with prices of a couple of firms invoved in a change of ownership soaring, brokers said. The All Share Price Index closed at 6,772.34, up 1.03 percent (69.35 points) while the more liquid Milanka index rose 1. 56 percent (110.13) to […]
Rate Ceiling
Sept 23, 1010 (LBO) – Sri Lanka’s central bank has asked banks to cut interest rates on housing loans to 14.0 percent and interest on credit cards to 24 percent by end-October following steep policy rates cuts and lower economic risks. The monetary authority, which is also the bank regulator, said rates on other loans […]
Upgrade Potential
Sept 23, 2010 (LBO) – Fitch Ratings Lanka said it has raised the outlook on Sri Lanka’s Sampath Bank (SB) ˜AA−(lka)’ national longterm rating to positive from stable, indicating a potential for an upgrade in the next 1224 months. “This is based on structural improvements that have occurred within the bank since early 2009, across […]
Vehicle Pact
Sept 23, 2010 (LBO) – Sri Lanka’s SMB Leasing has struck a deal with Lanka Ashok Leyland, the local unit of the Indian vehicle manufacturer, to distribute its vehicles in the former north-east war zone, a statement said. Under the agreement SMB Leasing is to be the sole agent for Lanka Ashok Leyland in Sri […]