Category:
Fast Berth
Dec 08, 2011 (LBO) – State-run Sri Lanka Ports Authority (SLPA) is building a 125 million US dollar berth in an expanded harbor in Colombo to fill a capacity gap until a Sino-Lanka joint venture comes on stream in 2014, an official said. Colombo International Container Terminal a joint venture between China Merchant Holdings and […]
Travel Banking
Dc 08, 2011 (LBO) – Commercial Bank has opened its first 24-hour outlet near Sri Lanka’s international airport at Katunayake, north of the capital, providing access to banking facilities to travellers. Services offered include exchange of foreign currency and encashment of travellers’ cheques, a statement said. They also include opening of accounts, payment of utility […]
Sri Lanka fish exports face slowdown in Western markets
Dec 08, 2011 (LBO) – Fish exports from Sri Lanka, which is trying to make the industry a key foreign exchange earner, are being affected by slowing demand in key Western markets, a top export promotion official said. But demand is expected to bounce back, said Janaka Ratnayaka, chairman of the Export Development Board (EDB). […]
Buying Point
Dec 08, 2011 (LBO) – GroupM, which operates the media investment units of WPP, the world™s largest advertising agency group by sales, has begun operations in Sri Lanka. GroupM will act as the central buying point for WPP media agencies, which are independent global operations in their own right, a statement said. There is no […]
Sri Lanka airline ups business class with flatbeds
Dec 08, 2011 (LBO) – Sri Lanka’s state-run SriLankan Airlines has started a 15 million US dollar upgrade of its long-haul business class product with flatbeds and personalized entertainment system, officials said. The loss-making state carrier is to get a 100 million dollar injection from tax payers this year. The airline is hoping to break-even […]
Sri Lanka food freedoms under fresh threat: report
Dec 08, 2011 (LBO) – Sri Lanka’s Prime Minister D M Jayaratne had asked for a complete ban on fruit imports and asked for the price of wheat flour to be increased to a level people “could not afford”, a media report said. Farmers in countries like Pakistan produce better quality fruits than in Sri […]
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Dec 07, 2011 (LBO) – Sri Lanka’s state-run water supply agency has found about 15,000 suspected points where water is stolen in the island’s capital Colombo where 48 percent of the supplied water brings no revenue, an official said. About 30 percent of Sri Lanka’s Water Supply and Drainage Board is ‘non-revenue’ water but in […]
Sri Lanka Treasuries yields edge higher
Dec 07, 2011 (LBO) – Sri Lanka’s Treasuries yields increased across maturities at Wednesday’s auction with the average 12-month yield topping 9.0 percent for the first time in over 17-months official data shows. The 3-month yield rose 8 basis points to 8.28 percent, the 6-month yield rose 6 basis points to 8.56 percent and the […]
Sri Lanka stocks end up 0.7-pct
Dec 07, 2011 (LBO) – Sri Lankan closed higher Wednesday, swinging back over the 6,000 point mark although trading was thin, brokers said. Orient Garments was the most actively traded stock, accounting for the second highes turnover and closing at 36. 80 rupees, down 3.50, with 2.77 million shares done. It hit a day’s high […]
Port Traffic
Dec 07, 2011 (LBO) – Sri Lanka’s road development agency is to build a flyover at the main entrance to Colombo port to ease traffic congestion caused by container trucks, a port official said. The island’s imports and exports have increased with economic growth accelerating to eight percent a year after the end of its […]
Fairmont eyes 40 hotels in India in five years
NEW DELHI, Dec 7 (AsiaPulse) – Hospitality firm Fairmont Hotels and Resorts plans to operate about 40 hotels in India in the next five years across its three brands — Fairmont, Raffles and Swissotel. “In the next 5-6 years, our strategy is to operate up to six hotels under Raffles brand, about 8 to 12 […]
India may award oil blocks next March
NEW DELHI, Dec 7 (AsiaPulse) – The Indian government is likely to award oil and gas blocks offered for bidding in ninth round of New Exploration Licensing Policy (NELP) by March next year, eight months behind schedule. “Some blocks (offered in NELP-IX) were held up due to security issues. By March next year, most of […]