Author: lbostgadmin
‘s state airline in MRO venture with Lufthansa Technik
Aug 07, 2013 (LBO) – State-run SriLankan Airlines will start operating a joint venture aircraft repair and maintenance organization (MRO) with Lufthansa Technik by July 2014, an official said.SriLankan chief executive Kapila Chandrasena said the MRO is expected to earn revenues of 100 million US dollars a year, with an investment of 14 million US […]
Indonesian plane skids off runway after hitting cow
JAKARTA, August 7, 2013 (AFP) – An Indonesian passenger jet crashed into a cow and skidded off the runway as it came into land at an airport in the centre of the archipelago, officials said Wednesday.One small jet managed to take off Wednesday, but the Lion Air plane was still at the edge of the […]
Brand Award
Aug 07, 2013 (LBO) – Sri Lanka’ state-run Bank of Ceylon said it had been recognized as one of 35 best brands in Asia by Mumbai-based Chief Marketing Officer Council (CMO Council). BOC has 10 million account holders equal to half the population of Sri Lanka and over a trillion rupees in assets. Other winners […]
Sri Lanka corporate debt to get boost from S&P
Aug 06, 2013 (LBO) – Standard and Poor’s Rating Services said is hosting a forum in Colombo on August 16 amid plans by Sri Lanka to boost the country’s debt markets. Sri Lanka’s Securities and Exchange Commission wants to boost outstanding capital market debt to 10 billion US dollars from the one billion dollars at […]
Sri Lanka sells 4-year bonds to yield below market
Aug 06, 2013 (LBO) – Sri Lanka has sold 4-year Treasury bonds at an auction Wednesday to yield 10.87 percent, the state debt office said, which is lower than the secondary market rate. The debt office said it sold 1.6 billion rupees of bonds maturing on January 15, 2017. In the secondary market a bond […]
Sri Lanka halts sale of baby formula, foreign milk power advertising
Aug 07, 2013 (LBO) – Sri Lanka has halted the sale of imported baby formula following a contamination scare over New Zealand made dairy products and media organizations will be asked to stop advertising milk products, a senior health official said.Heath services director general Palitha Mahipala said a food advisory committee that met yesterday had […]
Sri Lanka deficit to move down with lower rates, PPPs: CB Governor
Aug 06, 2013 (LBO) – Sri Lanka’s budget deficit will narrow and debt will slow with falling domestic interest rates and public private partnerships in infrastructure, Central Bank Governor Nivard Cabraal said. “We will see a huge reduction in interest costs,” Cabraal told a sovereign and banking forum organized by Fitch. In 2014 the budget […]
‘s rupee hits record low against dollar
MUMBAI, August 6, 2013 (AFP) – India’s rupee plunged to a fresh record low against the dollar Tuesday over concerns that foreign capital could flow back to the United States as the American economy picks up.The rupee, Asia’s worst-performing major currency this year, hit 61.35 against the greenback in morning trade, below its previous low […]
Bangladesh denies plan to take over Grameen
DHAKA, August 6, 2013 (AFP) – Bangladesh denied on Tuesday that it plans to take control of pioneering microlender Grameen Bank which has lifted millions of people out of poverty. The statement by a government spokesman came ahead of the release of a report by a commission expected to recommend that the government increase its […]
Tele Group
Aug 06, 2013 (LBO) – Profits at Sri Lanka Telecom group dropped 10 percent to 713 million rupees in the June 2013 quarter from a year earlier, and firm said it was continuing to invest in new technology to meet customer needs. The group reported earnings of 1.60 rupees for the quarter interim accounts filed […]
Killing Probe
COLOMBO, Aug 6, 2013 (AFP) – Sri Lanka’s opposition Tuesday demanded an international investigation into a deadly army crackdown on villagers who were demonstrating against contaminated water supplies.The United National Party (UNP) criticised the army’s plans for an internal military probe into the death of three civilians and wounding of 50 others during a protest […]
Training Progress
Aug 06, 2013 (LBO) – Lanka BPO Academy, a skills development firm, said it had completed a program for trainers at InfoMate, a provider of outsourced finance and accounting services at Sri Lanka’s John Keells Holdings group.Lanka BPO academy is a training organization which collaborates with local and international partners to provide skills and training […]