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Sri Lankan Airlines to launch own loyalty program
Mar 04, 2008 (LBO) – SriLankan Airlines will launch its own frequent flyer program after the Emirates ‘Skywards’ program ends with the termination of their management contract in March, the airline said. “All SriLankan Airlines’ Skywards members will continue their membership and rewards will continue to be available on Emirates flights and from other leisure […]
Sri Lanka Eagle Insurance 2007 profits flat
Mar 04, 2008 (LBO) – Sri Lanka’s Eagle Insurance group net profit for the 2007 financial year was flat at 527 million rupees although revenue went up 23 percent to 5.9 billion from 4.8 billion rupees. Total assets of the group grew to almost 17 billion from 14.9 billion rupees while net assets grew 16 […]
Sri Lanka CEB needs overhaul, says chairman
Mar 04, 2008 (LBO) — Sri Lanka’s state-run power utility needs a management overhaul with input from finance, legal and information technology disciplines and tariff reforms to shift demand, its chairman has said in a detailed report.If tariffs could be used to shift demand, the CEB’s overall capital costs would come down and industry would […]
Sri Lankan forces push into Tiger territory: defence ministry
March 4, 2008 (AFP) – Sri Lankan forces pushed deeper into Tamil Tiger territory in an offensive that has left at least 69 guerrillas and nine government soldiers over the weekend, the defence ministry said Tuesday.Sri Lanka plans to spend a record 1.57 billion dollars on defence in calendar 2008, up 20 percent from last […]
Oil Skills
Mar 04, 2008 (LBO) – Sri Lanka’s petroleum exploration unit has started to build up its staff as the island waits for offshore exploration work to get underway, a senior official said. . The petroleum resources development secretariat (PRDS), set up under the petroleum ministry to search for oil, has begun to look for oil […]
Sri Lanka shares edge higher, LMF draws interest
Mar 03, 2008 (LBO) – Sri Lankan stocks closed slightly higher Monday with a crossing of Sampath Bank shares and heavy in Lan trading in Lanka Milk Foods helping turnover, brokers said. Market heavyweight Dialog Telekom closed flat at 17.75 after going up to 18.00 during the day. The All Share Price Index gained 2.68 […]
Outside Aspirations
Mar 03, 2008 (LBO) – Sri Lanka’s Hatton National Bank is keen to get into Bangladesh though its first attempt to buy into a bank in that country was not completed, an official said. HNB was short listed to buy over Orient Bank which was being re-structured but in the final stage the bank gave […]
Hatton Number
Mar 03, 2008 (LBO) – Hatton National Bank group net profits went up 40 percent to 3.2 billion rupees in 2007, as revenues increased 37.6 percent, results filed with the Colombo Stock Exchange showed. HNB’s stand alone profits went up to 3.0 billion rupees from 2.2 billion. Chairman Rienzie Wijetilleke told shareholders the profit would […]
Sri Lanka tea growers set for party as prices soar
March 3, 2008 (AFP) – The tea industry in Sri Lanka, the world’s second biggest exporter of the crop, is looking forward to good times again as prices soar on a global commodities boom.And the rise for a cup of tea comes as the prices of other traditional brews such as cocoa and coffee have […]
Construction Consortia
Mar 03, 2008 (LBO) – Sri Lankan construction companies which visited the Middle East to bid for a share of the building boom there are forming consortia to pool their resources, an industry official said. The firms will form joint stock companies which will be managed by the Chamber of Construction Industries (CCI), its secretary […]