Category: Industry
Ground Zero
Jan. 19 (LBO) – SriLankan Airlines has pushed back plans to launch its floatplane ferry service to the North, following increased violence in Jaffna and falling passenger numbers.Jan. 19 (LBO) – SriLankan Airlines has pushed back plans to launch its floatplane ferry service to the North, following increased violence in Jaffna and falling passenger numbers. […]
Building Muscle
Sri Lanka’s diversified John Keells Holdings Ltd.will push ahead with planned investments in leisure and property this year, but the group’s financial outlook may be impacted by progress in the country’s peace process, the company’s head of corporate finance and strategy said. Sri Lanka’s diversified John Keells Holdings Ltd. will push ahead with planned investments […]
Green Light
Jan. 19 (LBO) – Sri Lanka’s ageing rail-network could soon get a new extension, with policymakers this week agreeing to set up a unit to study the feasibility of the projects.Jan. 19 (LBO) – Sri Lanka’s ageing rail-network could soon get a new extension, with policymakers this week agreeing to set up a unit to […]
Different Tune
Jan. 17 (LBO) – Shell Gas back-pedalled on its decision to cut gas supplies following top level talks with government, but panic buying over the weekend sparked shortages in some areas.Jan. 17 (LBO) – Shell Gas back-pedalled on its decision to cut gas supplies following top level talks with government, but panic buying over the […]
100K Connected
Jan 18 (LBO) – Lanka Bell on Wednesday connected its 100,000 customers on its new CDMA network, seven months after its launch, and is now planning for rapid expansion to sustain the growth momentum.Jan 18 (LBO) – Lanka Bell on Wednesday connected its 100,000 customers on its new CDMA network, seven months after its launch, […]
Long Line
Sri Lanka Telecom will leverage its connection to the recently commissioned SEA ME WE-4 (South East Asia Middle East Western Europe) undersea cable to explore business in the region.Sri Lanka Telecom will leverage its connection to the recently commissioned SEA ME WE-4 (South East Asia Middle East Western Europe) undersea cable to explore business in […]
In the Dark
Sri Lanka has been slow to track illegal migration, though the island remains a hotbed for human trafficking, the Foreign Employment Bureau said.Sri Lanka has been slow to track illegal migration, though the island remains a hotbed for human trafficking, the Foreign Employment Bureau said. “Under the Foreign Employment Act anyone migrating to work, must […]
Gas Alert
Jan. 16 (LBO) — Domestic gas supplier Laugfs says it will consider restricting imports, if global prices cross the US$ 600 mark in February and the government forbids a price increase, a top official said Monday.Jan. 16 (LBO) — Domestic gas supplier Laugfs says it will consider restricting imports, if global prices cross the US$ […]
Big Cheque
Jan. 16 (LBO) – Sri Lanka Monday picked up its largest ever cheque from the World Bank for US$ 160 million to develop education and roads, officials said.Jan. 16 (LBO) – Sri Lanka Monday picked up its largest ever cheque from the World Bank for US$ 160 million to develop education and roads, officials said. […]
Spilleth Over
Jan 13 (LBO) – The largest storage reservoir in the Sri Lankan hydro – electrical generation system spilled early Friday morning, for the first time sicne 1997, a Ceylon Electricity Board (CEB) official said. Jan 13 (LBO) – The largest storage reservoir in the Sri Lankan hydro – electrical generation system spilled early Friday morning, […]
Weak Knees
Sri Lanka’s State Mortgage & Investment Bank (SMIB) was downgraded by Fitch Ratings Lanka to A (sri) from A+ (sri) on deteriorating asset quality and high exposure to interest rate risks, Fitch said Thursday. Sri Lanka’s State Mortgage & Investment Bank (SMIB) was downgraded by Fitch Ratings Lanka to A (sri) from A+ (sri) on […]
South Asian Footprint
ICICI Bank, India’s second-largest bank by assets, commenced business in Sri Lanka Thursday, with an eye on getting a slice of the growing bi-lateral trade and inward remittance market, officials said.ICICI Bank, India’s second-largest bank by assets, commenced business in Sri Lanka Thursday, with an eye on getting a slice of the growing bi-lateral trade […]