Category: Industry
SriLankan Airlines to start operations to Kunming, China
Nov 21, 2014 (LBO) -SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, to starts operation to Kunmin, China to meet the increasing demands for air services between China and Sri Lanka, the airline said in a media statement.The airline will start flying to Kunming, which located at South […]
International designer brand Tommy Hilfiger to launch in Sri Lanka
Nov 18, 2014 (LBO) – International designer brand Tommy Hilfiger will open its first store in Sri Lanka next month marking the first international designer brand to launch in the country. The design house is renowned for its preppy style and has been worn by top international celebrities such as Jacqueline Fernandez, Sonam Kapoor, Jessica […]
Sri Lanka tourist arrivals up 13.6 -pct in October 2014
Nov 07, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 13.6 percent to 121,576 in October 2014 from a year earlier, driven by India, UK and China data from the state tourism promotion office showed. Visitors from Western Europe were up 10.1 percent 32,061 in the month with UK up 2.7 percent and Germany up […]
Sri Lanka Browns Hotels & Resorts ties up with Starwood Hotels & Resorts
Nov 05, 2014 (LBO)-Sri Lanka’s Browns Hotel and Resorts private limited, a fully owned subsidiary of Browns Investments Plc recently signed a definitive agreements with Starwood Hotels & Resorts which will give Starwood the management rights to five-star Sheraton Kosgoda Turtle Beach Resort, owned by Browns Hotels and Resorts. The 172 room hotel is set […]
ICC to crown the greatest world cup moment of all time
Nov 04, 2014 (LBO) – The International Cricket Council is to identify the greatest ICC cricket world cup moments of all time through a voting to open on Thursday, the council said in a media release. Over the course of the 100 days leading up to ICC cricket world cup 2015, the ICC will release […]
Profit Gain
Oct 04, 2014 (LBO) –Sri Lanka Seylan Bank, a private bank recorded a Profit before Tax of 3,490 million for the nine months ended 30th September 2014, the bank said in a media release. Profits after Tax reached a record of 2,253 million rupees a 47 percent increase compared to the 1,536 million rupees reported […]
SriLankan Airlines gets a new version of Airbus A330
Oct 31, 2014 (LBO) – SriLankan Airlines, the national carrier has taken delivery of Airbus A330 -300 aircraft as it continues to expand its global route network with more fuel-efficient and maintenance cost friendly models from Airbus. This delivery launches the process of the fleet renewal and replacement program and affords us the opportunity to […]
Haldummulla Disaster
Oct 29, 2014 (LBO) – A Landslide destroyed a plantation in Haldummulla, Central Sri Lanka on Wednesday (29) morning and have killed at least 100 people and leaving more than 150 trapped, a media report said. An about 330 people had been living at the location at the time of the tragedy. The mobilized armed […]
Doing Business
Oct 29, 2014 (LBO) – Sri Lanka has slipped to 99 from 85 in a global ranking compiled by the World Bank group as several other nations raced ahead despite an improvement in the score between 2013 and 2014. The report further said Sri Lanka has made paying taxes more costly for companies by increasing […]
’’s national IFS rating downgraded: Fitch
Oct 28, 2014 (LBO) – Sri Lanka’s Fitch Ratings has downgraded the national insurer financial strength rating and national long term rating of Asian Alliance Insurance to ‘BBB(lka)’ from ‘BBB+(lka)’ placing both ratings on rating watch negative. Fitch Downgrades Asian Alliance Insurance’s National IFS Rating to ‘BBB(lka)’ Fitch Ratings-Hong Kong/Colombo/Singapore-27 October 2014: This commentary replaces […]
Capital Gain
Oct 28, 2014 (LBO) – Sri Lanka’s Bank of Ceylon (BOC) to receive 10 billion rupees from budget 2015 in order to strengthen the capital of the bank. President Mahina Rajapaksa said this presenting the budget to the parliament last week. BOC’s profits before tax increased 20 percent to 8.6 billion rupees the first half […]
Marina Study
Oct 27, 2014 (LBO) – Sri Lanka’s Colombo port city is to undergo a multidisciplinary marina study by Atkins, one of the world’s leading design, engineering and project management consultancies, a media release said. Atkins has been appointed by China Harbour Engineering Company to assess the opportunity of incorporating a marina into the proposed 2.5sqkm […]