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Sri Lanka Mattala flights by Air Arabia
Mar 02, 2013 (LBO) – Air Arabia, a UAE based budget carrier will launch twice weekly flights to Sri Lanka’s second international airport in Mattala from March 18, a media report said.It will start flights between Sharjah and Mattala, Arabian Business, a Middle Eastern business news portal said. “Just a few months after our inception […]
”’ rating confirmed by S & P, amid warnings
Mar 01, 2013 (LBO) – Standard and Poor’s Ratings Services has confirmed a ‘B+’ sovereign rating for Sri Lanka with a ‘stable’ outlook but warned of a bloated state sector and institutions that lack transparency and independence. “We affirmed the ratings to reflect our view of Sri Lanka’s weak external liquidity, a moderately high and […]
Bank Gains
Mar 01, 2013 (LBO) – Profits at Sri Lanka’s Hatton National Bank rose 41 percent to 3.1 billion rupees in the December 2013 quarter from a year earlier, helped by higher net interest income and fee income, interim accounts showed. The group reported earnings of 7.93 rupees per share for the quarter.In the year to […]
Sri Lanka targets China tourists
Mar 01, 2013 (LBO) – Sri Lanka will invite over 100 travel agents from China as part of efforts to boost visitors from the country where outbound tourism is growing, minister Keheliya Rambukwelle said. The cabinet of minister had approved a proposal by minister Basil Rajapaksa to invite the travel agents on a familiarization tour […]
Sri Lanka poultry firms in the red on higher costs, weaker sales
Mar 01, 2013 (LBO) – Sri Lanka’s Ceylon Grain Elevators, which has interests in feed-milling, hatchery and poultry meat said it lost 229 million rupees in the December 2012 quarter on weak sales and higher costs.The group reported a loss of 2.82 rupees per share for the quarter, in accounts filed with the Colombo Stock […]
Sri Lanka cricket captain to talk business with directors
Mar 01, 2013 (LBO) – Sri Lanka cricket captain Kumar Sangakkara will address top business executives at an event organized by the Sri Lanka Institute of Directors. The interview will also cover the views of the Cricket Captain on women in the game, celebrity status big money and corruption in sports. The forum will held […]
Nothing There
Mar 01, 2013 (LBO) – Cairn Lanka (Pvt) Ltd has not found any oil in its fourth exploration well, its parent company said in a stock exchange filing.Cairn India said the well found “thick high quality re servoir sands, which were not hydrocarbon bearing,” and it was plugged and abandoned. The data from the well […]
” rating confirmed: RAM Ratings
Feb 28, 2013 (LBO) – RAM Ratings Lanka said an ‘A+’ long term and ‘P1’ short term rating of Lanka Hospital Corporation Plc, has been confirmed with a stable outlook. The firm is 54 percent owned by the state through its control by state-run Sri Lanka Insurance Corporation Plc. RAM said state support was expected. […]
Bank Gains
Feb 28, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 48.2 percent to 1.3 billion rupees in the December 2012 quarter from a year earlier, accounts filed with the Colombo Stock Exchange showed. The group reported earnings of 8.20 rupees per share for the quarter. For the year to December the group reported […]
‘s Kandy Hotels in Rs1.5bn refurbishment
Feb 28. 2013 (LBO) – Kandy Hotels Co (1938) Plc, which controls two hotels in Sri Lanka’s central hill city of Kandy said it will start a 1.5 billion rupee refurbishment of the properties with the help of a Singapore based architectural firm. Corrected. Year of completion 2014 The firm said Hotel Suisse’ and Kandy’s […]
‘s inflation 9.8-pct in February 2013
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 9.8 percent in February 2013 from a year earlier, with the index rising 0.4 percent during the month, the state statistics office said. Inflation was also 9.8 percent in January. The state statistics office said food and non-alcoholic beverages rose 0.6 percent and non-food items […]
Sri Lanka to double pay to graduate recruits: report
Feb 28, 2013 (LBO) – Sri Lanka will soon double the pay of around 50,000 unemployable graduates absorbed into state service to 23,000 rupees a month, a media report said.Sri Lanka’s ‘Yes FM’ a radio station, station broadcast economic development minister Basil Rajapaksa as saying in a speech that monthly allowances for the graduate trainees […]