Author: lbostgadmin
Sri Lanka tourism destination marketing critical: leisure groups
Jun 05, 2013 (LBO) – Sri Lanka’s transport infrastructure is being built but the country is badly in need of destination marketing, a top leisure groups have said as higher end hotel saw lower occupancy.In December 2012, occupancy at Sri Lanka’s 5-star rated hotels dropped to 81.9 percent from 95.7 percent and at 4-star hotels […]
’s Cantaloupe Aqua feted by Agoda.com and TripAdvisor
June 05, 2013 (LBO) – Cantaloupe Aqua, a private resort in Thalpe, in Sri Lanka’s Southern coast said it had been recognized by Trip Advisor, a travel review site and Agoda.com, an online booking system for two years running based on user responses. The resort had received a ‘gold circle’ award from Agoda.com and a […]
‘s Treasuries yields ease
June 05, 2013 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction with the 6-month yield falling as much as 09 basis points to 9.81 percent, data from the state debt office showed.The 3-month yields fell 03 basis points to 8.70 percent and the 12-month yield fell 01 basis point to 10.85 percent. The […]
Sri Lanka logistics drive will help growth: IMF rep
June 04, 2013 (LBO) – Sri Lanka drive to invest in ports, airports and ground transport will help the island link itself to the global trade, drive exports and growth, an International Monetary Fund official said.Global trade which plunged 20 percent in 2008 and 2009 has started to recover from 2010 and has now grown […]
Sri Lanka hotels have room to cut running costs with less energy, water: IFC study
June 04, 2013 (LBO) – Sri Lanka’s larger hotels are starting to use energy and water saving technology but there is potential to save operating costs including in those under construction, a study has found. International Finance Corporation a World Bank unit said among the three, four and five star hotels surveyed good practices were […]
Price Fix
NEW YORK, June 3, 2013 (AFP) – A US government lawyer accused Apple Monday of concocting a deliberate scheme to fix prices of electronic books as the antitrust trial against the tech giant got underway. “Apple knowingly and intentionally committed to a common scheme of publishers to raise prices,” Justice Department attorney Lawrence Buterman told […]
National Link
June 04, 2013 (LBO) – Sri Lanka Telecom, the island’s sole wireline operator which also has mobile and video services, said it had been formally licensed to operate a national backbone with its fibre-optic network. Other operators are also given access to the National Backbone Network (NBN). “SLT’s network is ready with the necessary flexibility, […]
‘s Nilaveli Beach gets Trip Advisor accolade
June 04, 2013 (LBO) – Nilaveli Beach Hotel in Trincomalee in Sri Lanka’s Eastern coat said it had been recognized by Trip Advisor, a travel review site for two years running based on user responses.The Trip Advisor Certificate of Excellence is given only to the top 10 percent of businesses listed on the site, the […]
Port Call
June 04, 2013 (LBO) – Sri Lanka’s Hambantota Port has drawn about a billion US dollars in investments in a second call for investors, the state port agency chairman Priyath Wickrama said. Eleven manufacturing and processing for export industries with combined value of a billion US dollars had been selected by a cabinet appointed negotiations […]
Sri Lanka stocks close flat
June 04, 2013 (LBO) – Sri Lanka’s stock closed flat Tuesday with investors continuing to take profit and losses in some index heavy stocks like JKH, DIST and NEST, brokers said. Softlogic Holding closed at 11.40 rupees down 30 cents and Vallibel One closed at 19.10 rupees down 60 cents. Sri Lanka Telecom closed at […]
Sri Lanka needs quick, cost-based energy tariffs: Treasury
June 3, 2013 (LBO) – Sri Lanka needs quick cost-based energy pricing to avoid balance of payments pressure and stop bank credit being used for consumption, a finance ministry report has said.The overall national savings rate is further undermined by the deficit in the current account of the budget, where the state spends in current […]
Sri Lanka state bank dividends, levies boost revenues
June 03, 2013 (LBO) – Sri Lanka’s state banks and insurance funds have contributed 23 billion rupees or about 0.3 percent of gross domestic product to state revenues in 2012, official data showed. State enterprises such as Lak Sathosa also operate without paying value added tax. Corrected, revenues of 2013