Author: lbostgadmin
SriLankan Airlines ground handling, catering monopoly extended by 10 years
May 24, 2011 (LBO) – Sri Lanka’s airports authority has extended by 10 years a ground handling and catering monopoly given to the national carrier SriLankan Airlines at the international airport, a statement said. “Airport & Aviation Services (Sri Lanka) Limited has awarded SriLankan Airlines the long term exclusive franchise for ground handling and catering […]
SriLankan Airlines flights to Europe on schedule
May 24, 2011 (LBO) – All SriLankan Airlines flights to Europe will depart as scheduled with contingency plans to fly to alternate airports if Iceland’s volcanic ash clouds spread further into Europe, Sri Lanka’s national carrier said. “Passengers to our European destinations London, Frankfurt, Paris, Rome and Milan are advised to call our contact centre […]
Sri Lanka anti-terror seminar faces boycott call
May 24, 2011 (AFP) – A leading human rights group urged governments on Tuesday to boycott a conference on fighting insurgents organised by Sri Lanka, which wants to share its experience of defeating separatist militants. Sri Lanka will host the three-day meeting “Defeating Terrorism – Sri Lanka Experience” in the capital Colombo next Tuesday and […]
Sri Lanka among elephant countries in action group
NEW DELHI, May 24, 2011 (AFP) – Eight countries with the largest number of elephants met for the first on Tuesday in New Delhi to plot new strategies to protect the animal. “Delegates here represent two-thirds of the world’s wild elephant population,” Indian Environment Minister Jairam Ramesh told the inaugural gathering of the Elephant-8 group. […]
Profit Pressure
May 24, 2011 (LBO) – Sri Lanka’s mobile phone industry is ‘overcrowded’ and ripe for consolidation with intensifying competition eroding profitability, Fitch Ratings said in a new report on the telecoms sector. Overcrowding remains the key medium-term risk to telecom operators (telcos) in Sri Lanka, the rating agency said. It expects competition among local telcos […]
Sri Lanka tea production on the rise
May 24, 2011 (LBO) – Sri Lankan tea production is increasing despite a downturn in April compared with a year ago with annual output expected to hit a new high. Tea production fell 5.6 percent to 28.5 million kilos in April from a year ago when output had been boosted by favourable weather and high […]
Sri Lanka Watawala tea net up 50-pct in year to March
May 24, 2011 (LBO) – Sri Lanka’s listed Watawala Plantations said profits rose 49. 6 percent to 642 million rupees in the year to March 2011 with revenues growing 9.0 percent amid higher commodity prices and profits from its retail unit. Managing director Vish Govindasamy said higher rubber prices pushed profits from the division to […]
Capital Raising
May 24, 2011 (LBO) – Sri Lanka’s Commercial Bank wants to raise 9.7 billion rupees through a rights issue that would be followed by a share split to strengthen its capital base for future growth. The bank said in a stock exchange filing that the issue is subject to regulatory and shareholder approval. It expects […]
Sri Lanka shares becalmed
May 24, 2011 (LBO) – Sri Lankan shares closed barely changed Tuesday with heavy trading in a property firm in which a big stake changed hands last week, brokers said. The main All Share Price Index closed at 7,431.97, down 0.10 percent (7.18 points) while the more liquid Milanka index rose 0.06 percent (4.22 points) […]
Sri Lanka inflation to fall in May
May 23, 2011 (LBO) – Sri Lanka’s inflation is expected to come down in May following spike to 9. 8 percent in the 12-month to April and the central bank is comfortable with the current interest rates, Governor Nivard Cabraal said. Sri Lanka has a pegged exchange rate and foreign exchange market interventions generate rupees […]
Sri Lanka private sector urged to hire former combatants
May 23, 2011 (LBO) – An international terrorism expert has suggested Sri Lanka’s private sector should employ former Tamil Tiger separatist fighters who have been rehabilitated to help ensure they don’t return to violence. Sri Lanka’s 30-year ethnic war ended in May 2009 resulting in accelerated economic growth and a tourism boom. Gunaratna said many […]
Fernando fireworks see Lankans tame Lions
DERBY, May 22, 2011 (AFP) – Dilhara Fernando took three wickets for four runs as Sri Lanka completed their preparations for next week’s first Test against England with a morale-boosting 38-run win over the England Lions here on Sunday. Sri Lanka, who’d already beaten Middlesex, won on the fourth and final day after being made […]