Category: Industry
SriLankan Airlines to reschedule flights and re-deploy capacity to gain USD 18mn
Jan 16, 2015 (LBO) – Sri Lanka’s national carrier SriLankan airlines has re-deployed its capacity and adjusted its scheduled operations to focus on more commercially sustainable services which translates to an annual bottom line improvement of approximately 18 million US dollars , the airline said in a statement. The airline will cut flights to the […]
Sri Lankan insurers wrapping up segregation plans, four under evaluation: regulator
Jan 07, 2015 (LBO) – Sri Lanka’s composite insurers are on track to complete a regulatory push to split their businesses despite legal affairs delayed several insurers, a senior official said. Director General of the island’s insurance regulator Damayanthi Fernando told LBO that seven out of twelve composite insurers have so far completed their segregation […]
Train Link
Jan 03, 2014 (LBO) – Sri Lanka inaugurated the newly built railway track between Jaffna and Kankasanthurai covering a distance of 18 kilometers, which established a direct train link with Colombo a media release said. This track corridor has two crossing stations at Kondavil and Chunnakam and five halt stations at Kokuvil, Inuvil, Mallakam, Tellipalai […]
Dual Citizenship
Jan 01, 2015 (LBO) – Sri Lanka™s cabinet has granted approval to recommence the Dual Citizenship which had been temporarily suspended during the end of 2011 has been reinstated from today, official of Ministry of Defence and Urban Development said at the briefing yesterday. The granting of Dual Citizenship will be in force from 31st […]
Mobile Market
Dec 25, 2014 (LBO) – Sri Lanka’s mobile phone sales reached one million unities in the third quarter of 2014 while smart phone shipment up by 100 percent which accounts for 20 percent of the total sales, a market report said. In the smartphone market segment, Samsung leades with a 20.6 market share followed by […]
New Coin
Dec 23,2014 (LBO) – The Central Bank of Sri Lanka (CBSL) issues a commemorative silver coin of 500 rupees to mark the 150th birth anniversary of Srimath Anagarika Dharmapala in recognition of his national service, the bank said in a media release.A limited number of coins will be available for sale at a price of […]
SriLankan Airlines takes delivery of its second A330-300
Dec 19, 2014 (LBO) – Sri Lanka’s national carrier SriLankan Airlines, took delivery of its second Airbus 330-300, on today, continuing its wide body re fleeting programme, the airline said in a media release. Passengers will be afforded a new flying experience whilst satisfying customer demand for increased capacity on the primary routes of the […]
’s HNB to establish $ 50 mn credit line with Korean Exim Bank
Dec 17,2014 (LBO) – Sri Lanka’s Hatton National Bank (HNB), a private lender entered into an agreement with The Export-Import Bank of Korea’ (KEXIM)recently to establish a revolving credit line of 50 million US dollars to finance trade between Sri Lanka and Korea, the bank said in a media release. With foreign trade between Sri […]
Sri Lanka external trade crunched in October 2014: Trade deficit widen significantly: Central bank
Dec 13, 2014 (LBO) – Sri Lanka’s exports declined by 13.7 percent, to 899 million US dollars in October 2014 from a year earlier with largest contribution from textiles and garments followed by transport equipment and rubber products, all of which are categorized under industrial exports, official data showed. Apparel exports were down 8.7 percent […]
Sri Lanka Jan-Oct exports up by 8.7 pct to $9bn
Dec 10, 2014 -Sri Lanka’s provisional merchandise (only) exports surged by 8.79 percent to 9.104 billion dollars in the months of January to October 2014, the export development board (EDB) said. Italy appears to overtake India to become the third largest export market as provisional exports to Italy jumped by a strong 29 percent. US […]
Digital Advertising
Dec 04, 2014 (LBO) – Sri Lankan companies should adopt the digital change in advertising to drive growth due to increasing number of mobile and internet penetration in the island advertising expert said. œDigital media is gaining popularity all across Asia and it is becoming imperative for brands to go digital, CVL Srinivas, Chief Executive […]
Sri Lanka tourist arrivals up 9.4 -pct in November 2014
Dec 04, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 9.4 percent to 119,727 in November 2014 from a year earlier, driven by China and India, data from the state tourism promotion office showed.Middle Eastern visitors were down 10.5 percent to 4,327 with arrivals from Saudi Arabis up 48.0 percent to 1,328 and UAE down […]