Category: Industry
Sri Lanka Telecom seeks investors to develop property
May 8, 2014 (LBO) – Sri Lanka Telecom Plc, the island’s only wireline operator said, it was looking for local and foreign investors jointly develop its property holdings scattered across the country. It will also look at opportunities to lease or hire out existing facilities for workshops, recreational and other business activities. The company has […]
Near Relation
May 08, 2014 (LBO) – Adfactors PR, an India based public relations firm that has a strong focus in financial and corporate communications has set up an office in Sri Lanka. The Sri Lanka unit will be headed by Rezani Aziz, who was formerly Head of Corporate Affairs at Standard Chartered Bank and the Chief […]
Repriced
May 08, 2014 (LBO) – Sri Lanka’s Nations Trust Bank said profits rose 10 percent in the March 2014 quarter from a year earlier to 549 million rupees despite providing for losses on gold backed loans. The group reported earnings of 2.38 rupees per share for the quarter in interim accounts filed with the Colombo […]
Logistics Hub
May 8, 2014 (LBO) – Expo Global Distribution Centre (EGDC) a logistic firm set up under Sri Lanka’s free port regulation aimed at boosting entrepot trade and multi-country consolidation has begun operations. “As a prominent player in Sri Lanka’s Freight and Logistics sector, we find the Government’s strategic approach to encouraging the sector heartening.” The […]
Chip Boost
SAN FRANCISCO, May 6, 2014 (AFP) – Google’s drive to put the future of personal computing firmly in the Internet “cloud” got a boost on Tuesday from chip titan Intel and hardware giants including Lenovo.This is particularly appealing in the education market, where teachers prefer to focus on lessons instead of tech trouble-shooting and schools […]
Transfer
May 7, 2014 (LBO) – Browns Investments Plc said it had sold 11.98 million non-voting shares held in Seylan Bank to Lanka Orix Leasing Company Plc for 479.9 million rupees. LOLC itself owns finance companies as well as having a position in Seylan Bank. Brown is part of the LOLC group. LOLC has been restructuring […]
Shipping Biz
May 7, 2014 (LBO) – Bangladesh can slash shipping times to to Europe, US and Canada East Coast, the Middle and Africa by transshipping from Colombo, Sri Lanka’s ports agency chief has said. The newly commissioned Colombo International Container Terminal had increased capacity at the port by 2.4 million twenty foot equivalents a year. A […]
Mendis shines as Sri Lanka prove too strong for Ireland
DUBLIN, May 6, 2014 (AFP) – Ajantha Mendis starred with both bat and ball as Sri Lanka enjoyed a comfortable start to their tour of the British Isles with a 79-run win over Ireland in the first one-day international in Dublin on Tuesday.The Sri Lankans have arrived in Dublin without five of their star players […]
Air France unveils luxury first-class seat
BEIJING, May 7, 2014 (AFP) – Air France unveiled its new first-class seat in Shanghai on Wednesday, fuelling an international luxury-armchair race to win over Asia’s rising number of high fliers. The airline’s “haute couture” suite will feature a seat that reclines into a bed stretching 2.01 metres long and 77 centimetres across (6 ft […]
Oil Show
TEHRAN, May 6, 2014 (AFP) – Iran’s annual oil and gas fair opens in Tehran on Tuesday, with 600 foreign companies seeking to position themselves for a return to large-scale operations if international sanctions are lifted.“I hope that Western officials will be more accommodating because of the general political climate in Iran,” he said, noting […]
Sri Lanka India in talks for nuclear deal
May 6, 2014 (LBO) – Sri Lanka and India has held discussions on civil nuclear technology to hammer out a deal on bilateral co-operation, India’s High Commission (embassy) in Colombo said.The Indian delegation to Colombo made up of representatives of Department of Atomic Energy of India was led by Amandeep Singh Gill Joint Secretary (Disarmament) […]
Tourist arrivals to Sri Lanka up 39.5-pct in April
May 06, 2014 (LBO) – Tourist arrivals to Sri Lanka rose 39.5 percent from a year earlier to 112,631 in April 2014 led by India, China, Britain and Russia, data from the state tourism promotion office showed. Middle Eastern arrivals were up 24.8 percent to 5,302 in April with Saudi Arabia up 24.8 percent to […]