Category: Industry
Sri Lanka tourist arrivals up 10 pct in May, Europe leads
June 07, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 10 percent in May to 125,044 visitors compared with the same month last year, official data showed. Arrivals during the first five months of the year were up 18.4 percent to 846,229 visitors, compared with the same period last year. April, May and June […]
Designer swimwear show to be held at Colombo Port
June 07, 2016 (LBO) – Colombo Fashion Week will showcase the latest trends in swimwear from June 24-26 at the ECT Terminal of the Colombo Port, organizers said. In collaboration with swimwear manufacturer Linea Aqua, the Swim Week Colombo will feature 14 Sri Lankan and international designers on the runway. “Swim Week Colombo is conceptualized […]
Sri Lanka’s Hemas Holdings March net profit down 3.5-pct
June 07, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare has posted a shareholder profit of 744 million rupees in the March 2016 quarter, down 3.5 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.30 rupees per share for the quarter against […]
Sri Lanka’s needs to replace traditional workplace with new strategies: JLL
techJun 06, 2016 (LBO) – Sri Lanka should be developing new workplace strategies and new workplace methods soon to cater to changing trends, Jones Lang LaSalle (JLL), a global real estate company, said in a report. “The era of using desktop computers, having a permanent workstation, individual landlines, and making copious print-outs is likely to […]
SriLankan Airlines enters codeshare deal with Qatar Airways
June 06, 2016 (LBO) – Members of oneworld alliance Qatar Airways and SriLankan Airlines have strengthened their cooperation with a new bilateral codeshare relationship which will offer customers additional convenience and flexibility. Qatar Airways said in a statement that both airlines will codeshare on each other’s operations between their hubs – Qatar Airways’ thrice daily […]
Sri Lanka’s LOLC March net up 46-pct amid growing incomes
June 03, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the March quarter rose 46 percent to 2.3 billion rupees. The group reported earnings per share of 4.83 rupees for the quarter up from 3.31 from a year earlier and the […]
Korean firm wants to revive KKS cement with USD450mn investment
June 03, 2016 (LBO) – Korea’s AFKO group is interested in reviving the Kankesanthurai cement plant with a 450 million dollar investment, the Ministry of Industry and Commerce said in a statement. AFKO Group, which merged with Korea’s multinational chaebol Hyundai Group in 2008, has its own construction and cement projects in several countries. The […]
Sri Lanka drops Bus Rapid Transport proposal from Megapolis
June 02, 2016 (LBO) – The transport committee of Sri Lanka’s Western Megapolis has dropped an earlier proposal to introduce a Bus Rapid Transport (BRT) system due to reasons including inability to add additional bus lanes. The decision has been reached after analyzing a feasibility study by Moratuwa University which shows that the proposed BRT […]
World Bank provides USD55mn to develop Jaffna
Jun 02, 2016 (LBO) –The World Bank has approved a 55 million US dollar loan to Sri Lanka to improve urban services, preserve cultural and environmental assets and improve livability in Jaffna. “The loan will add development of rapidly urbanizing Jaffna to the existing Strategic Cities Development Project (SCDP), which is supported by the World […]
Sri Lanka’s Cargills net up 39-pct in March with improved margins
June 02, 2016 (LBO) – Profits at Sri Lanka’s Cargills group, with interests in retailing and fast moving consumer goods, rose 39 percent to 412 million rupees in the March quarter, the interim accounts showed. The group reported earnings of 1.84 rupees per share for the quarter against 1.33 rupees recorded in the previous year. […]
Access Engineering invests Rs800mn in property developer
June 01, 2016 (LBO) – Sri Lanka’s construction giant Access Engineering has invested 800 million rupees to buy 50 percent stake of a property developer to strengthen its presence in property development sector. Access Engineering said in a stock exchange filing that the developer, Blue Star Constructions private limited, is the beneficial owner of over […]
Restrictions on issuing passports to Sri Lankan citizens lifted: Foreign Ministry
June 01, 2016 (LBO) – Sri Lanka’s government has issued a circular ending the restrictions placed in March 2011 on the issuance of passports to Sri Lankan citizens resident abroad who, at different times, were compelled to leave Sri Lanka due to conflict or political reasons. Releasing a statement Foreign Ministry said in March 2011, […]