Category: Featured
Interview: SriLankan to fly more to India, Japan, China; eyes profitability next year
Sep 09, 2015 (LBO) – The national carrier SriLankan Airlines is planning to cut some unprofitable routes and expand to India, Japan and China, Ajith Dias, chairman of the airline told Lanka Business Online. “We are now rationalizing our fleet and rationalizing where we are going. We are increasing our flights to China, because our […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
‘s JICA, big infrastructure lender with a small case of understatement
Sept 08, 2010 (LBO) – Out of the multilateral and bilateral lenders to the island of Sri Lanka, JICA may be the most important, and the least well known. “Lot of people don’t really seem to know what JICA is. They know the ADB and the World Bank. Maybe its because we don’t have word […]
Sri Lanka’s capital skyline changes with rise in luxury apartment market: report
Sep 06, 2015 (LBO) – The skyline of Sri Lanka’s capital is growing in terms of the number of luxury apartment units with the market expected to reach 6,000 units by 2018-19, from 2,657 units at the moment, a research report shows. “Apartment complexes have had a strong hand in shaping the skyline of Colombo.Starting […]
Sri Lanka’s new cabinet ministers sworn in
Sep 04, 2015 (LBO) – Sri Lanka’s new unity government’s swearing in ceremony concluded at Presidential Secretariat a short while ago. Cabinet Ministers sworn-in today (42): 1. Minister of National Policy and Economic Affairs – Ranil Wickremesinghe 2. Minister of Tourism Promotion and Christian Affairs – John Amaratunga 3. Minister of Transport – Nimal Siripala de Silva 4. Minister of sustainable development […]
Sri Lanka’s new foreign policy to focus Asian centric middle path: President
Sep 01, 2015 (LBO) – Sri Lanka’s new unity government will focus on building an Asian centric middle path as the foreign policy of the country, President said. “Openness and friendliness will be the base of our foreign policy.This is the century of Asia; so from now my government will be more focused on Asian centric […]
‘ Chief
Aug 31, 2015 (LBO) – The assembly plant investment by the German automaker Volkswagen in Sri Lanka needs to be transparent and all other motor companies who wish to invest should get the same facilities, an official of the Ceylon Motor Traders’ Association said. “I think they have to be very transparent in the Volkswagen […]
Interview: Sri Lanka BOP pressured by consumer spending, external woes
Aug 28, 2015 (LBO) – Post-war stimulus packages by Sri Lanka’s government have pushed up consumption demand which is now having an adverse impact on the trade deficit and balance of payments. This is one reason for the negative BOP position so far this year, Shiran Fernando at Frontier Research said. “We are in consumption […]
Tony Blair identifies seven principles for Sri Lanka’s reconciliation
Aug 28, 2015 (LBO) – Former British Prime Minister Tony Blair delivering the Lakshman Kadirgamar memorial lecture recently outlined seven principles for a successful reconciliation process. “I think I can identify, based on my experience not only in Northern Ireland but elsewhere, seven principles of successful reconciliation,” First principle is the continued absence of conflict, […]
Debt Report: Money market keeps close eye on CB T-bill holdings, interest rates pick up
Aug 27, 2015 (LBO) – Sri Lanka money markets kept a close eye on treasury bill purchases by Sri Lanka’s central bank this week, as interest rates rose amid turbulence in global markets.The central bank’s holding of treasury bills increased to 92.4 billion rupees on Monday from around 69 billion earlier this month, which is […]
Sri Lanka not the only nice girl on the beach: Policy maker
Aug 27, 2015 (LBO) – Sri Lanka needs to build goods and services which can be competitive in the global market and plug in to value chains to gain cost advantages in the path towards a competitive economic nation, economic legislator and newly elected member of parliament, Harsha de Silva said. “We are not the […]
Sri Lanka should think carefully before any currency devaluation: Harsha de Silva
Aug 26, 2015 (LBO) – Sri Lanka should think carefully about devaluing the rupee as it may not be a good strategy to follow, even though other countries are trying to increase exports by weakening their domestic currencies, newly elected member of parliament and former deputy minister of policy planning Harsha de Silva said. “I, […]