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Interview: SriLankan to fly more to India, Japan, China; eyes profitability next year
Sep 09, 2015 (LBO) – The national carrier SriLankan Airlines is planning to cut some unprofitable routes and expand to India, Japan and China, Ajith Dias, chairman of the airline told Lanka Business Online. “We are now rationalizing our fleet and rationalizing where we are going. We are increasing our flights to China, because our […]
Sri Lanka cabinet gets three more ministers, new secretaries appointed
Sep 09, 2015 (LBO) – Three new cabinet ministers were sworn in before President Maithripala Sirisena at the Presidential Secretariat today. 1. Malik Samarawickrama – Minister of Development Strategies and International Trade 2. Vijith Wijayamuni de Soysa – Minister of Irrigation and Water Resource Management 3. Faizer Mustafa – Minister of Local Government and Provincial […]
Fitch to host Sri Lanka Investment Fund & Asset Management Forum
Sep 09, 2015 (LBO) – Fitch Ratings Lanka is to host its inaugural Investment Fund and Asset Management Forum next week, the rating agency said. Leading market participants, including issuers, investors, and bankers, will gather to listen to Fitch’s senior analysts, external guest speakers and panelists discuss developments in the asset management industry globally – […]
Sri Lanka stocks open up 0.2-pct as investor sentiment changes
Sep 09, 2015 (LBO) – Sri Lanka’s stocks opened 0.19 percent, Wednesday with investor sentiment changing and John Keells Holdings making gains in morning trade, brokers said. The Colombo benchmark All Share Price Index opened up 13.67 points at 7,138.09 up 0.19 percent. John Keells Holdings is trading at 175.90 rupees, up 0.70 rupees. “JKH […]
Netflix to enter Asia in 2016
Sep 09, 2015 (LBO) – Netflix, an on-demand internet and video streaming pioneer, with a subscriber base of 65 million in 50 countries will enter Hong Kong, Taiwan, Singapore and South Korea early next year, foreign media reports said. According to a press release that was posted in Chinese on its website and taken down, the […]
Sri Lanka should reduce oil prices: Gammanpila
Sep 09, 2015 (LBO) – Sri Lanka should pass the benefit of falling crude oil prices to consumers, Parliamentarian Udaya Gammanpila said. Speaking at a press briefing Gammanpila asked the government to reveal the reason as to why the reduction is being delayed. The benchmark US crude oil price has hit a six-year low recently […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
Govt agencies to be connected through GIS technology: ICTA
Sep 08, 2015 (LBO) – Geographic Information Systems (GIS) are fast becoming the platform of collaboration between organizations and the public mainly in the case of governments to enhance development, an official said.“All government buildings in Sri Lanka will be linked by high speed broadband to enable officials to share data and work in a […]
Sri Lanka sells 05, 08 and 15 year treasury bonds at 9.65–10.96-pct
Sep 08, 2015 (LBO) – The issue of treasury bonds amounting to 10 billion rupees have been oversubscribed with 60.3 billion rupees of bids received from investors.The Central Bank has accepted 3.7 billion rupees of 04 year and 08 month bonds maturing on 01 May 2020 at a weighted average yield rate of 9.65 percent. […]
Stocks close down 0.3-pct; seven week low
Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent. S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent. […]
Sri Lanka’s jumbo cabinet promises exciting new policy initiatives
Sep 08, 2015 (LBO) – Sri Lanka’s ‘national government’ appointed a jumbo 42-member cabinet last Friday after lengthy discussions between ambitious parliamentarians, that left some analysts scratching their heads. The general public however reached for their LBO and Google search bars to find the ministry most relevant to them. For instance, a search for “development” […]
Sri Lanka’s port city project still on hold, discussion positive says CHEC
Sep 08, 2015 (LBO) – The builders of Sri Lanka’s Chinese-funded port city project say discussions are still ongoing and they await a positive reply from the government after the suspension of work. “We are actually at the discussion level,” Liang Thow Ming, Chief Sales and Marketing Officer, of CHEC Port City Colombo (Pvt) Ltd […]