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Sri Lanka to start aerial whale watching
Feb 20, 2013 (LBO) – Simplify, a Colombo based aircraft operator said it planned to offer whale watching services using a newly delivered 5-seater amphibian aircraft it was managing for a third party. Simplify also has its own fleet.It operates operates a Bell Jet Ranger helicopter, a GA8 airvan, a Cessna 206 amphibian aircraft and […]
Tele Profits
Feb 20, 2012 (LBO) – Sri Lanka Telecom group, the island’s only wireline operator which also has a mobile unit has reported profits of 877 million rupees for the December 2012 quarter down 29 percent from a year earlier. SLT Publications had seen revenues grow 25 percent to 516 million rupees and pre-tax profits growth […]
AirAsia to form India budget carrier with Tata
Feb 20, 2013 (LBO) – Malaysia’s AirAsia said has sought approval from authorities in India to form a joint venture budget carrier with Tata group and another investor, Arun Bhatia of Telestra Tradeplace. AirAsia pulled out of Colombo this year. “AirAsia is confident that it can replicate its unprecedented success across Malaysia, Thailand, Indonesia and […]
Saudi recalls envoy from Sri Lanka
RIYADH, Feb 20, 2013 (AFP) – Saudi Arabia has recalled its ambassador from Colombo in a tit-for-tat move amid tensions after a Sri Lankan nanny convicted of murder was beheaded in the kingdom, the official SPA news agency reported.“Based on the decision by the Sri Lankan government to withdraw its ambassador from the kingdom, the […]
Sri Lanka Etisalat creates active market for Android App development
Feb 20, 2013 (LBO) – A marketplace created by Sri Lanka’s Etisalat is helping the development and sale of Apps for smart phones based on the Android operating system, and has been recognized in a United Nations report, officials said.The UN Conference on Trade and Development in its information economy report 2012 said Etisalat’s App […]
Sri Lanka has to catch up on English, IT literacy: UNDP rep
Feb 20, 2013 (LBO) – Sri Lanka is losing an advantage it had in basic literacy and the use of English language with other nations catching up fast and information technology literacy becoming increasingly important, a United Nations official said.Sri Lanka had the highest literacy rate in South Asia. “But simply having a literate population […]
Sri Lanka rupee weakens amid excess liquidity
Feb 19, 2013 (LBO) – Sri Lanka’s rupee weakened below 127.00 to the US dollar in the spot market Tuesday following a prolonged period of excess liquidity in money markets, dealers said though authorities have begun to permanently sterilize some excess rupees. The spot US dollar was quoted around 127.00/10 Tuesday though a state name […]
Tax Effects
Feb 19, 2013 (LBO) – Sri Lanka’s registrations of BMW luxury cars rose 280 percent in January 2013 from a year earlier following changes to taxes while new registrations of small Maruti/Suzuki models plunged 84 percent, data compiled by an equities research house show.Monthly data from Sri Lanka’s motor vehicle registry compiled by JB Stockbrokers […]
Net Interest
Feb 19, 2013 (LBO) – Sri Lanka’s The Finance Company Plc’s lost 510 million rupees in the December 2012 quarter up from a loss of 17 million rupees a year earlier, while nine month losses were 1.26 billion rupees, interim accounts showed. The firm reported earnings of 3.18 rupees for the quarter. In the nine […]
‘s SilverNeedle hotels
Feb 19, 2012 (LBO) – Singapore-based SilverNeedle Hospitality said it is entering Sri Lanka with a 200 room hotel as part of a 100 million US dollar joint venture mixed development with the island’s Abans group. Abans is a group with 250 million US dollar a year in revenues and says it is the largest […]
Sri Lanka begins re-building Hamilton canal as tourist attraction
Feb 19, 2013 (LBO) – Sri Lanka has begun re-building a colonial era canal north of the capital Colombo as an eco tourism attraction due to its access to nearby wetlands, the island’s economic development ministry said.A 600 million rupee project to rebuild the canal banks, clear silt and spruce up the surroundings had been […]
Sri Lanka Agstar Fertilizers buy rice processor
Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya. In the December 2012 […]