Category: Industry
Long Haul
Qatar Airways is eyeing the European tourist and up-end business and leisure travellers as it tries to play down its traditional focus on Sri Lankas Mid East labour market.ldblquote We want to increase our corporate traffic, widening our wings to fly to more European markets, targeting our corporate and leisure travellers dblquote , said new […]
On Tow
Sampath said its was infusing Rs. 600 mn to Rs. 700 mn to bail out the troubled Union Bank.rn rnThe Sampath led consortium of investors also includes Chinkara Capital of Singapore. rn rnldblquote The recapitalisation/restructuring proposal when implemented, would result in a reconstitution of the appointment of an Advisory Board to oversee its operation, dblquote […]
Com Port
Sri Lanka Telecom (SLT) is looking to increase its non voice revenue streams, a Telecom City on 3.5 acres in Welikada being among them.As a SLT subsidiary, the Telecom City will house a data and call centre and offer the latest communication technology and services. rn rnThe network operator told shareholders that the Telecom City […]
Lantern Trail
Tapping into a niche market of Buddhist pilgrims, the Tourism Ministry is launching plans to package Vesak as an annual event in the industry calendar.In an organised promotion, travel and tour operators are being approached to design new packages for this clientele that will offer them discounted rates, special airfares and accommodation and tours.rn rnldblquote […]
Mountain Climbing
Funding sources to replicate the success of Elephant Corridor in the midst of a tea plantation are now being finalised.Elephant Corridor officials are working out investment options with a select group of Sri Lankan investors who are interested in the project.rn rnDevelopers estimate the 24 suite Leopard Mountain project in the midst of the Bogawantalawa […]
Active Partners
The Asian Development Bank (ADB) on Monday approved a Technical Assistance grant of US$ 500,000 to prepare country driven private sector development strategies for emerging nations. Sri Lanka is among four countries to participate in the programme which seeks to increase the private sectors role in long term growth and poverty reduction.rn rnOther countries to […]
Picking Up
Seylan Banks Group profits have shot up more than 50 percent, for the period ending March 31, 2002.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rn First quarter Group profits for the periodrnending March 31, 2002rn rn rn rn rn rn rn rn rn
Birds And Bills
A top nature conservation organisation says it is working closely with the private sector to bring the true benefits of eco-tourism to the conservation efforts in the country.The Field Ornithological Group of Sri Lanka (FOG), which is an affiliate of Birdlife International, says true eco-tourism is not just a bunch of tourists going on a […]
Eagle Eye
Commercial Bank and DFCC plan to put in a strong bid for a majority stake in Eagle Insurance after losing a battle to get control of SLIC.Zurich Financial Services together with NDB, holds a majority stake in the company.rn rnHowever, Zurich announced its intentions of exiting the local market, after the company hit a bad […]
Tourist Guide
The tourism sector is high on the list of investment possibilities of a visiting International Finance Corporation team. IFC is the private sector investment arm of the World Bank.To date it has an exposure of over US$ 100 mn, mainly in financial markets and infrastructure projects in Sri Lanka.rn rnOf the total, almost 30 percent […]
Building Blocks
The International Finance Corp. (IFC) is looking at further investments in Sri Lankas housing market, as part of its future investment strategy.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn IFC currently has a 15rnpercent stake in NDB Housing, a joint venture between the National DevelopmentrnBank and Housing Development & Finance Corp. of India.rn ldblquote We have been asked by therngovernment […]
Safe Hands
The DFCC-Commercial Bank consortium plan to hold their stakes in Eagle Insurance through a holding company, in the event their bid succeeds.Both banks put a joint bid for Eagle Insurance, after its parent company, Zurich Financial Services (ZFS) said it was pulling out of Sri Lanka. rn rnldblquote If we get it, we are looking […]