Author: lbostgadmin
Sri Lanka tourist road signs boosted with USAID
Sri Lanka’s Road Development Authority has developed roadside signs to help guide tourists with support from the US Agency of International Development which are likely to come up first in the Eastern Province. “Tourism roadside signage plays a key role in making Sri Lanka a visitor-friendly destination,” USAID said. “Effective road signage may draw visitors […]
Express Fitness
Feb 02, 2012 (LBO) – A large number of vehicles breaking down on Sri Lanka’s first expressway may require motorists to get roadworthiness certificates to use the road, as traffic picked up steadily, an official said. From about 4,000 vehicles a day in December, usage has now increased to 7,200 by end January. Sri Lanka’s […]
Trade Links
Feb 02, 2012 (LBO) – Sri Lanka’s southern expressway linking the capital Colombo with the south is to be extended to link the eastern port town of Trincomalee, Sri Lanka Ports Authority chairman Priyath Wickrama said. The move is part of a plan to improve the transport infrastructure to give manufacturers fast connectivity, he told […]
Sri Lanka shares end down 1.4-pct
Feb 02, 2012 (LBO) – Sri Lankan shares closed weaker Thursday for the third straight day after a brief recent rally, with warrants in Environmental Resources Investments plunging 71 percent with the regulator imposing trading restrictions from February 03. The main All Share Price Index closed down 1.35 percent (76.84 points) at 5,605.49, while the […]
Sri Lanka will not curb imports to maintain peg: CB Governor
Feb 01, 2012 (LBO) – Sri Lanka will not curb imports to stabilize the exchange rate, Central Bank Governor Nivard Cabraal said as a peg with the US dollar came under pressure from strong credit growth. “There has been an exponential growth in imports such as vehicles and gold and this is a reflection of […]
SriLankan Airlines hires more cadet pilots
Feb 01, 2012 (LBO) – SriLankan Airlines’ latest batch of cadet pilots were awarded their ‘wings’ when they passed out as Junior First Officers recently at the international airport in Katunayake. “With plans for expanding the fleet size to 30 aircraft by 2015, more recruitment will be initiated to meet growing demand with SriLankan gearing […]
Kerala tourism promotion in Australia, Middle East
MUMBAI, Feb 1 (Asia Pulse) – Buoyed by an over 11 per cent increase in foreign tourist arrivals in 2011, which was a bad year for the global tourism industry given the bleak economic environment, Kerala is on a marketing blitz to attract more travellers from the Middle East and Down Under. “We plan to […]
Sri Lanka Continental Hotel Dec net up 22-pct
Feb 01, 2012 (LBO) – A boom in tourist arrivals after the end of a war has helped Sri Lanka’s Continental Hotel to increase net profit by 22 percent in the December 2011 quarter, the start of the peak tourism season. The hotel, bought by the Hayleys conglomerate last year, said net profit in the […]
Merger Intention
Feb 01, 2012 (LBO) – Fitch Ratings Lanka has maintained Merchant Credit of Sri Lanka’s (MCSL) ‘BBB(lka)’ national long-term rating on rating watch evolving (RWE), a statement said. MCSL was placed on RWE in May 2011 after Merchant Bank of Sri Lanka’s announcement it got Central Bank approval for a specialised banking license to MBSL […]
Sri Lanka shares end down 0.2-pct
Feb 01, 2012 (LBO) – Sri Lankan shares closed weaker Wednesday for the second day after a brief recent rally, with warrants in Environmental Resources Investments which has attracted controversy losing half their value, brokers said. Index heavyweight John Keells Holdings closed at 170 rupees, up 70 cents with 1.2 million shares changing hands. Acme […]
Sri Lanka Treasuries flat
Feb 01, 2012 (LBO) – Sri Lanka’s Treasuries yields remained flat across maturities for the sixth week at Wednesday’s auction with 9,751 million rupees of bills being sold, the state debt office said. The 3-month yield edged up one basis point to 8.68 percent with 4.6 billion rupees of bills sold and the 6-month month […]
Sri Lanka central bank clarifies IMF interest rates
Jan 31, 2012 (LBO) – Sri Lanka’s central bank said it would only have to pay a higher interest rate for International Monetary Fund loans exceeding 300 percent of the country quota, and lower balances would only attract a rate of a little over 1.0 percent. The IMF has effectively suspended its 2.6 billion US […]