Category: Industry
‘s boutique hotels suffer the ravages of war
SIGIRIYA, Sri Lanka, July 1, 2007 (AFP) – Britney Spears, Paul McCartney, Sting and Paul Simon have all travelled to Sri Lanka for a big-bucks taste of tropical luxury.“The rich will not want to come if Sri Lanka has an image of a cheap destination,” Jinasena said. But an escalating war with Tamil Tiger rebels […]
Wider Spectrum
July 1, 2007 (LBO) – Sri Lanka’s pioneer leasing firm, Lanka Orix Leasing Company (LOLC), is looking to spread its wings under a new brand, officials said. “I feel we should do business as usual and not worry too much about what is happening in the country as long as we concentrate on our risk […]
” after reaching 15,000 one-day runs
BELFAST, June 29, 2007 (AFP) – Sachin Tendulkar savoured a “wonderful moment” after adding a new chapter to his record-breaking career by becoming the first batsman to score 15,000 one-day international runs. Tendulkar reached the landmark while making 93 in India’s six-wicket win against South Africa at Stormont here Friday, a victory which levelled the […]
Snazzy Gadget
NEW YORK, June 29, 2007 (AFP) – Apple’s iPhone, one of the most eagerly awaited devices in years, went on sale Friday with technology fashionistas queued up country wide to shell out at least 500 dollars for the cell phone-music/video player. Lines up to 400 people deep snaked from the doors of Apple and AT&T […]
Sri Lanka to focus on niche tourism to bring more foreign exchange
June 30, 2007 (LBO) – Sri Lanka’s Ministry of Tourism is kicking off a new drew to promote high spending niche tourism to the country with the appointment of a new advisory council led by the private sector. At the moment approximately 300,000 people in Sri Lanka depend on the tourism industry the ministry officials […]
Subsurface Threat
June 30, 2007 (LBO) – Sri Lankan security authorities plan to install underwater surveillance systems in Colombo harbour to enhance the defences of the port which handles most of the island’s trade. London’s Metropolitan Police said Chrishanthakumar is accused of receiving literature and manuals allegedly included information about underwater warfare and naval weapons systems and […]
Upward Revision
June 29, 2007 (LBO) – Sri Lanka has raised fuel prices by around 5 percent almost two months after the last price increase, after allowing petroleum utilities to run huge losses and the national currency to come under pressure. . Standard 90-octane petrol would increase by 5 rupees to 111 while standard auto Diesel would […]
Smooth Notes
June 29 (LBO) – The Sri Lankan distributor of the latest Toshiba notebook computer is relying on good after sales service and the strength of well-known distributors to maintain an edge over competition. Analysts say that the personal computer market has been improving and they predict that in time to come laptops are bound to […]
Arbitrage Fund
June 29, 2007 (LBO) – A UK-based hedge fund is entering Sri Lanka and has sought a listing in the Colombo Stock Exchange through the purchase of a listed shell company. Lionhart is expected to make a mandatory offer for the rest of the shares shortly. Lionhart Investments Limited has purchased 13,043,804 million shares of […]
Danger Signs
June 28 (LBO) – Sri Lanka’s Colombo port risks losing its status as south Asia’s transshipment hub if it does not move fast to add more capacity and make trade more streamlined, a senior Asian Development Bank official said. Although Colombo has a good reputation for reliability the country has not done enough to exploit […]
Own Fleet
June 28 (LBO) – Sri Lanka’s national shipping line has shelved plans to acquire a tanker for crude oil imports and is going ahead with the purchase of a cargo vessel to supply the northern Jaffna peninsula, an official said Ceylon Shipping Corporation (CSC) officials said a cargo ship is the more urgent requirement because […]
Chinese Squeeze
June 28 (LBO) – Sri Lankan exporters look set for difficult times with freight rates on the rise and their cargo being squeezed out of container ships chock full of Chinese exports, a top freight forwarder said Wednesday. “We do have a problem,” Niral Kadawatharatchie, chairman of the Sri Lanka Freight Forwarders’ Association told its […]