Category: Industry
Rate Gap
May 01, 2014 (LBO) – Profits at Sri Lanka’s Seylan Bank group rose 3.3 percent to 526 million rupees in the March 2014 quarter from a year earlier, helped by lower interest expenses, despite falling credit growth, interim accounts showed. The group reported earnings of 1.53 rupees per share. The stock closed at 64.00 rupees, […]
Broad Plans
May 01, 2014 (LBO) – All banks and non bank lenders in Sri Lanka directed by the regulator have given broad plans on a consolidation and some are in talks on acquisitions or mergers, the Central Bank said.Several non bank lenders within business groups have been given the nod to merge. Banks and large non-bank […]
SriLankan joins Oneworld; first South Asian carrier in global air alliance
Apr 30, 2014 (LBO) – State-run SriLankan Airlines has joined OneWorld, becoming the first South Asian carrier to be part of a global alliance, officials said.Oneworld airlines carry more than 500 million passengers a year on 3,300 aircraft with annual revenues of 140 billion US dollars. SriLankan was officially inducted to oenworld at a ceremony […]
Lighthouse Hotel Sri Lanka profits up 46-pct in March 2014 quarter
Apr 30, 2014 (LBO) – Sri Lanka’s The Lighthouse Hotel Plc, said profits in the March 2014 quarter surged 46 percent to 83 million rupees from a year earlier, with revenues also up. Administrative expenses were up 24 percent to 111.8 million rupees. Lighthouse Hotel is part of Sri Lanka’s Jetwing group. The firm reported […]
‘s Sangakkara signs for Durham
LONDON, April 28, 2014 (AFP) – Kumar Sangakkara will warm-up for Sri Lanka’s forthcoming tour of England by appearing in the next two rounds of County Championship matches for title-holders Durham. One of the outstanding batsmen of his generation and ninth on the list of all-time leading Test run-scorers with 11,151 at an average of […]
Port Office
Apr 27, 2014 (LBO) – Sri Lanka has been invited to set up a trade office at strategic Chinese-run Gwadar port in Pakistan after a delegation from Pakistan met President Mahinda Rajapaksa, his office said.“The port is a part of a larger effort by Pakistan to establish a Pakistan-China economic corridor,” the President’s media office […]
Sri Lanka imports most vehicles from India, Japan second
Apr 25, 2014 (LBO) – India was the source of 72 percent of vehicles and parts imported to Sri Lanka in 2013, with second coming second, with 20 percent, the Ceylon Chamber of Commerce. In terms of value India was 45 percent and Japan 38 percent, the chamber said, citing a study by its economic […]
UK warns citizens travelling to Sri Lanka with tattoos
Apr 24, 2014 (LBO) – UK has warned citizens travelling to Sri Lanka about having tattoos of the Lord Bhudda following the deportation of a British tourist, barely three weeks after warning about spiked drinks at Southern resorts. “British nationals have been refused entry to Sri Lanka or faced deportation for having visible tattoos of […]
UK nurse leaves Sri Lanka after tattoo jail ordeal
COLOMBO, April 24, 2014 (AFP) – A British nurse jailed in Sri Lanka for sporting a Buddha tattoo left the country Thursday after suffering what she says was sexual and other harassment by prison officers.Naomi Coleman said she was exhausted but relieved to be heading home after she was arrested at the main international airport […]
Sri Lankan Airlines inks deal to maintain IndiGo aircraft
Apr 24, 2014 (LBO) – State-run SriLankan Airlines said it had struck a long-term maintain repair and overhaul (MRO) deal with IndiGo, a fast growing low cost carrier in India which has a fleet of 78 Airbuses. India has growing private budget airline sector after the state ended a monopoly that prevented citizens from providing […]
Short List
Apr 24, 2014 (LBO) – Sri Lanka has been short listed as a contender for the ‘Offshoring Destination of the Year Award’ in Europe, which the by the European Outsourcing Association, made up of over 1000 firms from eight countries in Europe. “Sri Lanka offers a very compelling value proposition for European businesses as an […]