Category: Industry
Hospital Sale
June 01, 2007 (LBO) – A private Sri Lankan hospital is offering to sell a prime property in a posh residential suburb of Colombo ahead of a move to a new location. The hospital share closed up one rupee at 38 rupees on Friday. Asha Central Hospital has offered its current 291-perch land in Horton […]
Sri Lanka revives tourist police to counter harassment
June 01, 2007 (LBO) – Sri Lankan police have revived their tourist police branch to better protect tourists in the face of increasing complaints of harassment and a sharp downturn in arrivals. It will re-establish a network of tourist police stations in key resort areas, senior superintendent Maxi Proctor, director of the new unit, said […]
Hard Sell
June 01, 2007 (LBO) – Sri Lanka’s insurance policy lapse rate is far too high and might mean the industry’s sales pitch is overenthusiastic, an international expert told a gathering of industry professionals in Colombo. Rudy Verrilli, consultant to the Life Insurance and Market Research Association (LIMRA) stressed the importance of “ethical selling” and of […]
Last Flight
June 01, 2007 (LBO) – SriLankan Airlines is stopping its domestic floatplane operations, in the wake of orders to stop flying to key destinations and a fall in tourist arrivals, the airline said. A team from the Dubai-based carrier is due in Sri Lanka to start talks on the extension, a senior treasury official said […]
French Link
June 01, 2007 (LBO) – The growing interest in Asia by French businessmen would be supported by the efforts of Franco-Sri Lankan technologists group, the French Agency for international business development has said. “Today, French businessmen are more and more interested in developing countries and, as such, in Sri-Lankan potentially growing economy,” Jacques Dasset of […]
Change Please
May 30, 2007 (LBO) – India’s National Thermal Power Corporation (NTPC) which is hoping to build a coal plant with Sri Lanka’s power utility has asked for Indian government help to change its proposed location, reports said. Eastern Sri Lanka has seen heavy fighting in the past year as government troops systematically took back areas […]
” in Marks & Spencer partnership
May 30, 2007 (LBO) – Sri Lankan apparel Giant MAS Holdings is building a ‘Green Plant’ through its partnership with UK’s Marks & Spencer, to reduce waste and be environmentally friendly. The firm says it is developing a bio degradable packaging and card board hangers and has been sourcing part of its organic cotton supplies […]
Sri Lanka travel ban only to the north and east: UK
May 30, 2007 (LBO) – Britain is advising its citizens not to travel to the north and east of Sri Lanka, but they are free to visit other parts of the country, the UK High Commission (embassy) in Colombo said. Sri Lanka’s total tourist arrivals are down 19.9 percent so far this year. “Some recent […]
Deal Flow
May 29, 2007 (LBO) – Globeleq, a unit of CDC investment group which is raising a billion dollars by selling power sector assets in Sri Lanka and other countries, says it is looking for new projects. “This is excellent news for emerging markets. Greater access to reliable energy continues to be a high priority for […]
Insurance Reload
May 29, 2007 (LBO) – Ceylinco Insurance is tapping into Sri Lanka largest mobile subscriber base with a pre-paid card insurance scheme with Dialog Telekom, officials said. Sri Lanka’s insurance penetration remains poor at three percent for an island of 20 million people. The accident insurance cover package premiums are priced between five and 20 […]
Power Foothold
May 28, 2007 (LBO) – The Malaysian firm Tanjong, controlled by billionaire Ananda Krishnan, has taken a foothold in Sri Lanka’s power sector by acquiring an international energy firm with investments in the country, the company said Monday. In a filing at the Kuala Lampur stock exchange Tanjong said it had taken over Globeleq, a […]
Sri Lanka keeps De Mel chief selector despite board
May 28, 2007 (AFP) – Sri Lanka’s sports minister on Monday extended Asantha de Mel’s term as chairman of cricket selectors despite a call from the governing board of the sport for his dismissal.“I have appointed the same committee for another two months with Asantha as the chief selector,” Gamini Lokuge told AFP. De Mel, […]