Category: Industry
Sri Lankan airlines revenues up 10-pct in Q1 2015
June 17, 2015 (LBO) – Total revenue of Sri Lankan Air lines has increased by 9.8 percent in the first quarter of 2015, the state statistics office said. “Passenger kilometers flown and total revenue of Sri Lankan Air lines has increased by 7.7 percent and 9.8 percent respectively in the first quarter of 2015,” the […]
Sri Lanka’s Pan Asia Bank’s senior debt rated “BBB” (lka): Fitch
Jun 17, 2015 (LBO) – Fitch Sri Lanka has rated Sri Lanka’s Pan Asia Banking Corporation proposed listed senior unsecured debentures of up to 4.0 billion with a National Long-Term rating of ‘BBB(lka)(EXP)’. The full statement follows: Fitch Ratings-Colombo/Hong Kong-17 June 2015: Fitch Ratings has today assigned Pan Asia Banking Corporation Plc’s (PABC; BBB(lka)/Negative) proposed […]
Sri Lanka’s Hambantota port needs to be made viable: Minister
June 17, 2015 (LBO) – Sri Lanka’s Hambantota port should be transformed to a level of making profits as in the case of the Colombo Port, Ports and Aviation Minister Arjuna Ranatunga said. “We must make Hambantota a viable port and get it on the right track and develop it. This is the issue that […]
Sri Lanka bloated public sector needs HR reforms to create national prosperity: HR expert
June 17, 2015 (LBO) – Sri Lanka’s laid back public sector needs human resource reforms to help the country move forward and create national prosperity, a human resource expert said.“Unfortunately it reminds me the value of human resource development is yet to develop in the public service who is expected to make a crucial contribution […]
ICRA Lanka assigns [SL] A- rating for Commercial Leasing and Finance proposed debt issue
June 16, 2015 (LBO) – ICRA, a group company of Moody’s Investors Service has assigned a [SL] A- rating with a stable outlook for the Commercial Leasing and Finance Company’s proposed debt issue of 5.0 billion rupees. Full text of the statement issued by ICRA Lanka is reproduced below. ICRA Lanka Limited, a wholly owned […]
Sri Lanka’s Power Minister pays double for coal purchase: Udaya Gammanpila
June 16, 2015 (LBO) – Sri Lanka’s Power Minister is currently paying almost double for the purchase of coal at current world prices, Western Provincial Councilor Udaya Gammanpila charged.Gammanpila, who broke away from the JHU at the last Presidential election, accuses his former ally Champika Ranawaka for intervening an alleged tender deal saying it is a mega deal. According […]
Sri Lanka Tourism – Korean Air to promote South Korean market to double the visitors
June 15, 2015 (LBO) – Sri Lanka tourism promotion bureau joined hands with Korea Airlines to promote tourism to the South Korean market in order to double the arrivals to the Island, a statement said. “Sri Lanka currently attracts 13,000 visitors from South Korea and we want to double this volume within a year and […]
‘s chief executive to step down
Jun 12, 2015 (LBO) – Social messaging service, Twitters Chief Executive, Dick Costolo is stepping down, foreign media reports said.Twitters co-founder Jack Dorsey will take over as interim chief on 1 July and stay until a replacement can be found.Twitter said that its board had formed a committee to undertake the task of finding a […]
Sri Lanka Central Bank establishes legal and compliance Dept
June 12, 2015 (LBO) – The Central Bank of Sri Lanka said that it has established a ‘legal and compliance department’ to entrust the discharge of duties under several legislative enactments which provide powers relating to the supervision and control of banking institutions, non-bank financial institutions and leasing companies. Accordingly, this department is expected to […]
Sri Lanka PM ordered UDA to stop land acquisition in the Colombo District
June 11, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe instructed Urban Development Authority to immediately stop land acquisition activities in the guise of development in the Colombo District and to stop forceful evictions and acquisitions. A statement released by the Prime Minister’s Office said that the Chairman was further instructed to device a […]
Sri Lanka to reduce its carbon foot print in energy production by switching to gas
June 11, 2015 (LBO) – Power and Energy Minister says Sri Lanka will stop using fuel based power plants and convert to natural gas in future to reduce the Island’s carbon foot print.“We have recently retired; high pollution and high cost fuel based power stations totaling 220MW,” “And are in the process of switching another 655 […]
Iranian merchant ship not carrying crude oil to Sri Lanka: Ministry of Foreign Affairs
June 10, 2015 (LBO) – Sri Lanka’s Ministry of Foreign Affairs said that the country will not unload any cargo of the Iranian merchant ship, F Whale and it is not carrying crude oil shipment to state-run Ceylon Petroleum Corporation. “We have information that the vessel of the name of F Whale under the Panama […]