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Sri Lanka tourism product needs facelift to justify price hikes
Feb 08, 2011 (LBO) – Sri Lanka needs to improve the quality of its tourism product and infrastructure to further increase room rates after a post-war rise in rates made the island look expensive, an equities research report said. The country also needs to improve entertainment and shopping in order to break the seasonality of […]
Sri Lanka Lighthouse profits up, in deal with boutique hotel
Feb 08, 2011 (LBO) – Sri Lanka’s Lighthouse Hotel has seen December 2010 quarter profit rise sharply from a year ago amid a tourism boom and has struck a deal with a small boutique hotel on the south coast, its accounts showed. The hotel, in which Sri Lanka’s Jetwing leisure group has increased its controlling […]
Court Day
BERLIN, February 7, 2011 (AFP) – German federal prosecutors said Monday they had charged a man suspected of raising money for the separatist Sri Lankan rebel group Liberation Tigers of Tamil Eelam (LTTE). The accused, a 35-year-old German citizen named only as Agilan W., was charged with belonging to a foreign terrorist organisation, prosecutors said […]
Sri Lankan Airlines signs wage deal with aircraft technicians
Feb 08, 2011 (LBO) – SriLankan Airlines has signed a new three-year wage agreement with the union representing aircraft technicians, as it expands its fleets and seeks more aircraft maintenance business, a statement said. Talks are also going on with the Flight Attendants Union and the Association of Licensed Aircraft Engineers (ALAE), the other employee […]
Five Saudis charged after drunken forced landing in Sri Lanka
February 7, 2011 (AFP) – Five Saudi Arabian nationals appeared in court in Colombo on Monday after their allegedly drunken misbehaviour on board a flight from Dubai to Indonesia forced the plane to land in Sri Lanka. The men became unruly during the journey, shouting abuse at passengers and refusing to obey orders from cabin […]
‘s Murali to help Aussie spinners – report
SYDNEY, February 8, 2011 (AFP) – Legendary Sri Lankan bowler Muttiah Muralitharan is to take a guest coaching role at Australia’s top cricket academy in a bid to revamp the nation’s spin hopes, reports said Tuesday. Muralitharan, the world’s leading wicket-taker in both Tests and one-dayers, would spend several weeks at Cricket Australia’s Centre of […]
Sri Lanka to expand dam safety program
Feb 08, 2011 (LBO) – Sri Lanka will expand its dam safety program to cover more large reservoirs and will ask for additional funding from the World Bank following recent floods, officials said. D C S Alakanda, who heads Sri Lanka’s Dam Safety and Water Resources Planning Project said the talks with World Bank to […]
Sri Lankan floods pile on misery: UN
February 8, 2011 (AFP) – The United Nations said Tuesday that recent monsoon flooding in Sri Lanka had hit hundreds of thousands of victims who were forced from their homes just weeks ago. “The impact on people of this second wave of floods is even greater than the first in large part as peoples’ capacity […]
Sri Lanka central bank holds interest rates
Feb 08, 2011 (LBO) – Sri Lanka’s central bank held key interest rates unchanged at its monthly monetary policy meeting Tuesday, saying inflation was stable and food prices likely to fall when supply returns to normal. The bank is ready to take “appropriate measures” to ward off any increase in prices of key commodity imports […]
‘s new currency notes from today
Feb 07, 2011 (LBO) – Sri Lanka’s central bank has issued a new series of currency notes featuring economic infrastructure, traditional dancers and birds including a newly discovered endemic owl species. Based on a theme of ‘development, prosperity and Sri Lanka dancers, it is the 11th series of notes issued since the creation of the […]
Sri Lanka shares end up 0.47-pct
Feb 07, 2011(LBO) – Sri Lankan stocks closed up Monday with both indices pushed up by active retail investor participation in the diversified and trading sector stocks, brokers said. The All Share Price Index closed at 7,381.10, up 0.47 percent (34.29 points) while the Milanka Price Index of more liquid stocks closed at 7,211. 85, […]
Sri Lanka Continental Hotel cuts losses
Feb 07, 2011 (LBO) – Sri Lanka’s Continental Hotel, bought by the Hayleys conglomerate last year, has reduced its losses in the December 2010 quarter which marks the beginning of the peak tourism season, latest results showed. The hotel, the island’s oldest 5-star rated property in the capital Colombo, reduced its loss to 1. 8 […]