Author: lbostgadmin
Sri Lanka to have India trade show in August
June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are […]
Vehicle Moves
June 04, 2012 (LBO) – Sri Lanka’s state run ports agency said it was eying more international vehicles transshipment business with a new port in Hambantota to start berthing roll-on roll-off car carriers from the first week of June. On June 05, the vessel N4K Ericia will arrive from Japan with 15 vehicles for transshipment […]
Sri Lanka expropriated factories to new investors
June 03, 2012 (LBO) – Sri Lanka has given a series of defunct factories which were expropriated from foreign and local investors in November last year to new investors, with compensation also promised, a finance ministry report said. The finance ministry’s annual report said Heath Food Products (Pvt) Ltd has been given to a firm […]
Sri Lanka airport agency to call proposals for BOT hotel: report
June 03, 2012 (LBO) – Sri Lanka is to call proposals for a luxury hotel near the island’s Bandaranaike International Airport, north of the capital Colombo, to be constructed on a build-operate-transfer (BOT) basis, a media report said. The airport agency is scrambling to expand capacity at Katunayake after aircraft and passenger movements zoomed following […]
Ship Arrest
June 03, 2012 (LBO) – The fate of an ageing ship owned by Sri Lanka’s state-run Ceylon Shipping Corporation will be decided by a court in Durban, following its arrest by maritime authorities in South Africa, a media report said. The newspaper said ITF officials alleged that there were questions about the safety and seaworthiness […]
Sri Lanka EPF explains arrears crediting process
June 02, 2012 (LBO) – Sri Lanka’s Employees’ Provident Fund, a retirement fund of private citizens managed by the state, has explained how overdue contributions from employers are credited to member accounts. The statement was in reference to reports that 3.4 billion rupees, recovered from employers by Sri Lanka’s Commissioner of Labour has not been […]
Sri Lanka ice cream maker claims Maldives top spot
June 02, 2012 (LBO) – Sri Lanka’s Ceylon Cold Stores Plc, a unit of listed John Keells Holdings which claims market leadership position for ice cream in the island said it had secured a 50 percent market share in the Maldives. The firm sells ice cream and soft drinks under ‘Elephant House’ brand. “…Elephant House […]
Sri Lanka to merge expropriated sugar firms
June 2, 2012 (LBO) – Sri Lanka is planning to merge Sevenagala Sugar and Pelwatte Sugar Industries two sugar mills expropriated from citizens, into a single state-run entity, a finance ministry report said. The two sugar mills will be “fully owned/ administered by the Government, while ensuring employee continuity, and payment of compensation to third […]
Broader Horizon
June 02, 2012 (LBO) – Sri Lanka Financial Services Bureau, an interbank connectivity service provider, is scouting for telecommunication opportunities in South Asian banks, a company official said. “We did a testing to provide offshore connectivity with a local bank branch in Bangladesh and it was successful,” Rajaratne said. “Sri Lanka has some of the […]
Diverse Gains
June 02, 2012 (LBO) – Sri Lanka’s LOLC group, which has interest ranging from financial services, property, leisure and plantations, posted net profits in the March 2012 quarter rose 232 percent to 1. 99 billion rupees, helped by strong other income and fair value gains. Leisure made 2.3 billion rupees helped by 2.8 billion rupees […]
Sri Lanka fuel consumption doubled in three years: official
June 01, 2012 (LBO) – Sri Lanka’s consumption of petroleum products has doubled in the three years since the end of a war an official said, as economic activity picked up requiring more energy to run the economy. Demand for petroleum products is going up despite higher prices, said R H S Samaratunga, secretary, Petroleum […]
‘s Tiger Airways
June 01, 2012 (LBO) – Tiger Airways, has started flying to Sri Lanka three times a week with the first flight touching down Colombo at 2205 on May 31, the Singapore-based budget carrier said. Tiger Airways operates the service to Colombo three times a week on Tuesday, Thursday and Sunday. “Singapore is now a hop […]