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SriLankan Airlines goes for early check-in
Feb 08, 2012 (LBO) – SriLankan Airlines has called on all economy class passengers to check in an hour before scheduled time of departure in a move to ease congestion at the airport. “All SriLankan Airlines economy class check in counters will close 60 minutes before scheduled time of departure from February 01, 2012,” a […]
Sri Lanka tea market in Middle East seen threatened
Feb 08, 2012 (LBO) – Sri Lanka might be in danger of losing part of its market for tea in the Middle East, one of its biggest markets, as younger consumers are shifting away from the beverage. Hilmy Cader, chief executive of MTI Consulting, said his international management consultancy based in Bahrain had observed a […]
Sea Transfers
Feb 07, 2012 (LBO) – Global ship agency and offshore marine service provider GAC has set up a supply base in Galle to support ship-to-ship (STS) services, a statement said. The new service complements existing services such as ship agency, bunker supplies and the ship supply service. GAC Sri Lanka uses a fleet of ten […]
Maldives president resigns
Feb 07, 2012 (LBO) – Maldivian President Mohamed Nasheed has resigned, news reports said. Hundreds of police started demonstrating early Tuesday in the capital, Male, after officials ordered them to withdraw protection for government and opposition supporters protesting close to each other, the AP news agency said. The withdrawal resulted in a clash that injured […]
Sri Lanka Treasuries yields up
Feb 06, 2012 (LBO) – Sri Lanka’s Treasuries yields increased more than 50 basis points across maturities following at Monday’s auction held two days earlier due a holiday in the week, results published by the state debt office showed. The 3-month yield increased 56 basis points to 9. 24 percent, the 6-month yield rose 55 […]
Sri Lanka rupee opens weaker
Feb 06, 2012 (LBO) – Sri Lanka’s currency opened 20 cents weaker at 114.30 cents against greenback Monday as the monetary authority lowered its intervention rate in forex markets for the second consecutive day, dealers said. In bond markets a 2 two year instrument maturing on March 01, 2014 was quoted around 10.20/35 percent, up […]
Sri Lanka shares end down 0.5-pct
Feb 06, 2012 (LBO) – Sri Lankan shares closed weaker Monday, falling for the fifth straight trading session with trades in Commercial Bank helping to prop up turnover, brokers said. Environmental Resources Investments was also heavily traded, closing at 26.60 rupees, down 50 cents. The market is closed Tuesday for a religious holiday. The main […]
Health Profits
Feb 06, 2012 (LBO) – Sri Lanka’s Asiri Hospital Holdings said net profits in the December 2011 quarter rose 51 percent to 117 million rupees from a year earlier, as revenues grew 36 percent to 1. 67 billion rupees. The firm has earnings of 13 cents per share for the quarter. It is reporting earnings […]
Sri Lanka Hayleys Knitting Mills loss narrows
Feb 06, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills (HMGT) managed to reduce losses in the December 2011 quarter from a year ago but sales also fell, interim accounts showed. Hayleys MGT Knitting Mills made a loss of 515 million rupees for the nine months ending December 2011, down nine percent from the […]
Sri Lanka hospital chased by two buyers: report
Feb 06, 2012 (LBO) – A hospital built by Golden Key Credit Card Company, a failed Sri Lankan financial firm is being chased by two business groups, but a depositor association wants more money for the asset, a media report said. The report said a satellite earth station valued at 500 million rupees on a […]
Sri Lanka Jetwing in US$6mn hotel in Jaffna: report
Feb 05, 2012 (LBO) – Sri Lanka’s Jetwing hotel group has started building a 700 million rupee (6. 1 million US dollars) hotel in the northern city of Jaffna which was cut off from the rest of the island for many years due to a three decade war. The 76-room, 14-storey hotel will built with […]
2012 rice trade to fall in weaker demand: FAO
BANGKOK, (Asia Pulse) – The international rice trade is forecast to fall by approximately 1 million tonnes, or 5 per cent, this year as improved harvest prospects in several major importing countries may reduce overall demand after achieving a worldwide record of 34.5 million tonnes (milled basis) in 2011, according to the United Nations’ Food […]