Category: Featured
SriLankan Airlines says loss reduced, six A320s on the way
Oct 05, 2016 (LBO) – SriLankan Airlines said in the financial year ending 31st March 2016, the airline recorded a reduced loss of 9.03 billion rupees, which represents a 45 percent improvement compared to the previous year. “At the end of the last financial year, without the ‘one-off’ payment relating to cancellation of the lease […]
SriLankan Airlines adds new routes Jakarta, Gan Island
Oct 05, 2016 (LBO) – SriLankan airlines said in a bid to boost regional routes and higher profits it will add Jakarta in Indonesia and Gan Island in Maldives to its destinations from end of October 2016. “Gan, in the Maldives, will be the first such new destination, and SriLankan will be the only international […]
Sri Lanka tourist arrivals grow 3.6 pct in September
Oct 05, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 3.6 percent in September to 148,499 visitors compared with the same month last year, official data showed, a slower rate of growth compared to previous months. Arrivals during the first nine months of the year were up 14.6 percent to 1,508,405 visitors. China continued […]
Sri Lanka’s growth will be below average for South Asia: World Bank
Oct 05, 2016 (LBO) – Sri Lanka’s growth will be below average for South Asia which the World Bank expects to grow by 7.1 percent this year and 7.3 percent in 2017. According to the World Bank’s twice-a-year South Asia Economic Focus released yesterday, Sri Lanka is among the slowest growing economies in South Asia. […]
UNDP signs Rs20 mln biogas agreement with Kaduwela MC
Oct 04, 2016 (LBO) – The United Nation Development Programme (UNDP) entered into its first government co-financed project with the Kaduwela Municipal Council to effectively manage solid waste in the area to generate bio gas energy. “The 20 million rupees agreement signed today between UNDP and the Kaduwela Municipal Council will scale-up this initiative to […]
SriLankan Airlines cancels Airbus deal with USD98 mln penalty
Oct 04, 2016 (LBO) – An order for four A350 aircraft that SriLankan Airlines was to take delivery of in 2016-2017 would be cancelled, the Finance Minister said Tuesday. “The loss of purchasing these four A350 air buses would have been 900 million rupees per month and if we did not reject this it would […]
‘s Global Competitiveness rank reflects exports, govt weakness: WEF report
Oct 04, 2016 (LBO) – Sri Lanka fell three notches to 71st in terms of the Global Competitiveness Index for 2016-2017 compiled by the World Economic Forum, with poor ratings on exports, debt to GDP and labour market flexibility. Sri Lanka came in at 110th in terms of exports as a percentage of GDP, 107th […]
Sri Lanka’s CEB proposes tariff increase or subsidy to cover revenue gap
Oct 03, 2016 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has proposed that the power regulator approves a uniform tariff or a subsidy through the budget to ensure financial viability of the sector. In a letter to the Public Utilities Commission, the CEB said that in August, PUCSL requested an End User Tariff proposal […]
Himalaya launches direct flights between Kathmandu – Colombo
Oct 03, 2016 (LBO) – Himalaya Airlines, a Nepal-China Joint Venture Airline, has conducted its maiden commercial flight from Kathmandu to Colombo on 1st October 2016. With two flights a week, operating as H9 673, Himalaya will fly every Tuesday and Saturday departing from Tribhuvan International Airport, Kathmandu at 1130 hours and will arrive in […]
Nepal regrets SAARC postponement due to Indo-Pak tensions
Oct 03, 2016 (LBO) – Nepal, the current chair of SAARC, has expressed regret that the regional environment is not conducive to host the 19th SAARC Summit in Islamabad in November. “Nepal will initiate necessary consultation on successfully holding the summit with the participation of all member states, the country’s foreign ministry said. The announcement […]
Sri Lanka adds more taxes for smokers
Sep 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved a 15 percent Value Added Tax (VAT) and 5.00 rupees production tax on cigarettes as well as an increase of cess on the import of “beedi” leaves, a statement said. “Cabinet has decided to impose 15 percent VAT on cigarettes again, increase the current production […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]