Category: Industry
Daylight Premium
May 16, 2007 (LBO) — Sri Lanka closed its only international airport for night flights at the request of national carrier SriLankan Airlines, who would have otherwise been slapped a high insurance premium, the president’s office said in a statement Wednesday.London-Heathrow another top global hub also closes in the night to minimise disturbing city dwellers. […]
Insurance Cover
May 15, 2007 (LBO) – HNB Assurance net profit for the first quarter ended March 31, 2007 rose seven percent to 12.9 million rupees, according to provisional results released to the Colombo Stock Exchange. Total revenue rose 24 percent to 269.7 million rupees while Gross Written Premium rose 24 percent to 324 million rupees and […]
Connections
May 15, 2007 (LBO) – Sri Lanka’s Road Development Authority (RDA) is considering building an elevated or underground road to connect the fast growing Malabe suburb with Colombo city. It has extensive experience in building highways and bridges, and their maintenance, and has won contracts in India, the Philippines, and Australia. Road Development Authority (RDA) […]
High Status
May 15, 2007 (LBO) – Sri Lanka Telecom (SLT) said Tuesday it has received BOI status from the Board of Investment that would enable it to import and buy locally project-related items free of customs duty. However, the company would not be exempt from income tax like other firms with BOI tax concessions. SLT Chief […]
New Player
May 15, 2007 (LBO) – Sri Lanka’s Board of Investment Tuesday said it had given approval for India’s largest publicly-listed telecom firm, Bharti Airtel, to be the island’s fifth mobile phone operator with an investment of 150 million dollars. Airtel is subsidiary of Bharti Enterprises which has interests in telecom services, equipment manufacture and export, […]
Moody leaves Sri Lanka to coach Western Australia
PERTH, Australia, May 14, 2007 (AFP) – Tom Moody has quit as coach of Sri Lanka’s cricket squad to take over at Western Australia next season, the WA Cricket Association said here Monday.WACA president Dennis Lillee said Moody, a former Australian international cricketer, will take over coaching Western Australia on July 1. Moody, who led […]
Hot Chillies
May 14, 2007 (LBO) – International judges marking creative works for Sri Lanka’s Chillies advertising awards have been so strict on maintaining high standards that there were no winners in some categories. “Next year’s steering committee will without doubt deliver an event that is even better than this year’s. There are learnings from this year […]
Good Quarter
May 14, 2007 (LBO) – PABC Bank net profit for the first quarter of 2007 shot up 91% to 45.4 million rupees from 23.7 million rupees in the same period the year before.Interest income in the January 1, 2007 to March 31, 2007 quarter rose to 387 million rupees from 271 million rupees last year, […]
High Standards
May 13, 2007 (LBO) – The Chillies advertising awards in Sri Lanka finished Saturday with no winners among the finalists but Triad Advertising agency clinched two gold awards, unofficially making them the winners. The statement said Leo Burnett was able to win awards across a wide range of categories for a diverse group of clients, […]
Big Bucks
May 13, 2007 (LBO) – State-owned Bank of Ceylon is on a path to increase private sector lending and strengthen its capital to keep pace with a growing loan book, officials said. . The Bank of Ceylon, Sri Lanka’s largest bank has been a principal financier of the government but in the last quarter private […]
Washed Up
May 12 (LBO) – High winds caused a barge anchored off Galle port in southern Sri Lanka to drag anchor and get washed ashore Friday, eyewitnesses and harbour officials said. The unladen barge had been towed by a tug which had come to Galle for repairs after developing engine trouble when sailing past the island. […]
Flight of Fancy
May 11, 2007 (LBO) — Sri Lanka plans to double the price of lottery tickets and use the extra cash to build a second international airport in Weerawila, the National Lotteries Board has said.From Thursday, the Bandaranaike International Airport, which shares a runway with an adjoining military base, will close between 10:30 pm (1700 GMT) […]