Category: Industry
SriLankan flights disrupted due to pilot work to rule
Sep 10, 2016 (LBO) – SriLankan Airlines said flights could get disrupted following a ‘work-to-rule’ campaign by its pilots union, protesting against the suspension of a pilot who refused a breathalyzer test. “There is a likelihood that flights will be disrupted, as we are currently calling pilots on their off days legally to support the […]
Sri Lanka Sampath Bank gets new MD
Sep 09, 2016 (LBO) – Sampath Bank Sri Lanka named Nanda Fernando as it’s new Managing Director following the retirement of Aravinda Perera. Nanda Fernando was Chief Operating Officer of the bank and has been with the bank since its founding, the bank said in a stock exchange filing. He will assume duties from 13 […]
Central Bank says no new licenses for finance companies
Sept 09, 2016 (LBO) – Sri Lanka’s Central Bank says it will not issue new licenses for finance companies and, as a result, licenses of existing companies will have a higher market value in the future. Releasing a statement, the Central Bank said this is a key factor in encouraging new investors. A good number […]
Hanjin Shipping collapse could drive up cost for businesses
Sept 09, 2016 (LBO) – South Korean container shipper Hanjin Shipping has filed for court receivership, which will increase costs for businesses and consumers that were relying on the shipping line, analysts said. Hanjin is ranked the seventh largest globally, with 98 ships and a 2.9 percent market share, and about 14 billion dollars worth […]
Sri Lanka to develop Jaffna island jetties for better connectivity
Sep 09, 2016 (LBO) – Sri Lanka’s Ports and Shipping Ministry said in order to improve the regular costal transportation services in Jaffna, measures have been taken to develop the jetties in surrounding island’s with the aid of the Navy. “The jetties are not properly maintained in every island,” a ministry statement said. “Piers and […]
Maldives calls Sri Lanka to bid for housing, hospitals and power projects
Sep 08, 2016 (LBO) – The Maldivian High Commissioner in Sri Lanka Zahiya Zareer has invited Sri Lankan firms to invest in development projects in Maldives. “We are opening big projects for international bidding, such as airport development, housing, hospitals and renewable power projects’,” she said. “Even now there are big Sri Lankan Companies operating […]
SriLankan Airlines commissions new Global Contact Centre
Sept 08, 2016 (LBO) – SriLankan Airlines said it has launched a 24-hour Global Contact Centre which will further enhance levels of service for all its worldwide customers and members of its frequent flyer programme. Ajith Dias, Chairman of SriLankan Airlines, said: “We have sharply enhanced our focus on the needs of our customers as […]
Walkers Piling commences Sri Lanka’s first sea piling project
Sept 08, 2016 (LBO) – Sri Lanka’s Walkers Piling, a subsidiary of MTD Walkers, announced that they have commenced work on Sri Lanka’s first sea piling project at the Mutuwal Harbour. The piling work is being carried out to enable the installation of a state of the art Shiplift and Transfer System at the Mutuwal […]
Emirates extends Facebook competition in Sri Lanka
(PRESS RELEASE) – Emirates has announced an extension of its competition currently on Facebook exclusively for fans in Sri Lanka, to enable more people to participate and stand a chance to win an exciting visit to Dubai. The competition invites participants to tell Emirates in 35 words or less, why they want to visit Dubai. […]
Sri Lanka approves building expressway from Kurunegala to Dambulla
Sept 08, 2016 (LBO) – Sri Lanka’s cabinet has approved the construction of the central expressway from Kurunegala to Dambulla with funds from Exim Bank of China. This 60 kilometer long section of the central expressway has been identified as a project to be carried out under the ‘Awakening Rajarata’ Development Programme. A cabinet decision […]
Opinion: Big banks exploit countries like Sri Lanka, probe finds
Sept 07, 2016 (LBO) – Big banks have turned to the powerful worldwide legal system and commandeered it for profit, exploiting countries like Sri Lanka in the process, according to a Buzzfeed probe. In 2006, big international banks presented officials who ran Sri Lanka’s state oil venture with a way to hedge against further price […]
Sri Lanka tourist arrivals up 11.8-pct in Aug 2016, China tops India
Sep 07, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 11.8 percent in August to 186,288 visitors compared with the same month last year, official data show. Arrivals during the first eight months of the year were up 16 percent to 1,359,906 visitors. China continued it’s upward trend in August for a second consecutive […]