Author: lbostgadmin
Sri Lanka carrier takes delivery of A340 aircraft
July 05, 2011 (LBO) – Sri Lanka’s national carrier, SriLankan Airlines has taken delivery of a 243 seat Airbus A340 aircraft with flatbeds, the airline said. SriLankan chairman Nishantha Wickremasinghe said the airline had asked for quotes to acquire Boeing 777 aircraft to retire older A340s. The latest aircraft has increased the airline’s A340 fleet […]
Moving Out
July 5, 2011 (LBO) – Sri Lanka’s information technology and business process outsourcing firms have started to expand out of the capital, to lower costs and also be closer to the residents of potential workers, officials said. Dinesh Saparamadu, head of HSenid, a software developer said his firm had set up a research and development […]
Tech Park
July 05, 2011 (LBO) – Sri Lanka is evaluating two sites to set up an information technology park for firms to quickly set up shop, where two foreign universities are also likely to be located, an official said. Reshan Dewapura, head of the government’s Information Communications Technology Agency said the government evaluating two sites outside […]
E-treatment
July 05, 2011 (LBO) – eChannelling, a listed Sri Lankan dotcom that enables patients to make appointments with doctors over the internet, has struck a deal with Millennium Information Technologies to enable doctors to treat patients remotely. The two companies will jointly provide remote healthcare services to the local and regional markets, a stock exchange […]
Sri Lanka Shangri La hotel designs being wrapped up: official
July 5, 2011 (LBO) – Hong Kong based Shangri La group’s two hotels in Sri Lanka which are now in the final design stage will cost as much 630 million US dollars to build, chief financial officer Madhu Rao said. The group bought a six acre block of state land in Colombo’s ‘Galle Face’ beach […]
Sri Lanka lifts travel curbs on foreigners to north
July 5, 2011 (LBO) – Sri Lanka has lifted travel curbs on foreigners to the north of the island where a 30-year war ended in 2009, and foreign passport holders could travel without special approval, the government’s information office said. The government’s information office said foreign passport holders would no longer require documents of approval […]
Sri Lanka stock end up 0.7-pct
July 05, 2011 (LBO) – Sri Lankan stocks recovered Tuesday with gains in index-heavy shares like John Keells Holdings in which there were six crossings or off-market private deals and foreigners being net buyers, brokers said. The All Share Price Index went up by 46.05 points (0.67 percent) to close at 6,862.79 while more sensitive […]
Sri Lanka state revenues up 19.8-pct to May
July 04, 2011 (LBO) – Sri Lanka’s state revenues rose 19. 8 percent to 358.2 billion rupees in the five months to May from a year earlier, a finance ministry report said, with a surge in imports helping pad up revenues. The state extracted 23.8 percent more taxes from the people, totaling 319. 7 billion […]
Sri Lanka on track to meet deficit, FDI targets: Treasury Secretary
July 04, 2011 (LBO) – Sri Lanka is “well on track” to keep the 2011 budget deficit within 7. 0 percent of gross domestic product, and foreign direct investments of 2.0 percent of GDP, Treasury secretary P B Jayasundera said. With first quarter GDP at around 8. 0 percent, per capita GDP is on track […]
Sri Lanka ranked 82nd in innovation index
July 04, 2011 (LBO) – Sri Lanka has been ranked 82nd, in a global innovation index issued by Insead, an international business school, behind India but ahead of other key south Asian countries. Switzerland topped this year’s ranking in the Global Innovation Index (GII), while Sweden took second place and Singapore third. The GII 2011 […]
Sri Lanka to continue tight macro-management after IMF deal: CB Governor
July 4, 2011 (LBO) – Sri Lanka will manage macro-economic policy prudently on its own after an International Monetary Fund deal ends in December, Central Bank Governor Nivard Cabraal said. Coomaraswamy said Sri Lanka has had a history of deficit spending and high inflation over the past 30 years and a seal of approval by […]
Sri Lanka approves investments of US4.0bn in first half
July 4, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, had approved 4.0 billion dollars of local and foreign investments in 28 projects in the first half of 2011, its acting chairman A M C Kulasekera said. Among known large projects in the pipeline are two hotel and shopping complexes […]