Category: Industry
Liberty Call
SINGAPORE, March 24, 2014 (AFP) – Control of the Internet should be handed from US supervision to a diverse group of stakeholders, and not to governments that could limit freedoms, a meeting on the web’s future heard Monday.Organisers also said that a US decision to relinquish control was not the result of any one event […]
Consumer Push
Mar 24, 2014 (LBO) – Sri Lanka’s HSBC said it was giving a boost to fashion retailing with 30 top retailers giving credit card discounts and a ‘fashion hawker street’ ahead of upcoming traditional New Year holidays. The ‘HSBC Fashion Festival’ kicks off on March 24 with starting with retailers Arugambay, Abstract, Brands Warehouse, Brands […]
Cricket: Clinical Sri Lanka upstage South Africa
CHITTAGONG, March 22, 2014 (AFP) – World number one Sri Lanka held their nerve in the final overs to pull off a narrow five-run victory over South Africa in Chittagong on Saturday.Left-handed opener Kusal Perera hit a brilliant 40-ball 61 to lift Sri Lanka, who won the toss and batted, to 165-7 before restricting South […]
Sri Lanka hotels see “excellent” winter season
Mar 22, 2014 (LBO) – Sri Lanka’s hotels have seen a good winter season with high occupancy levels, backed by stable pricing and strong arrivals from Western Europe, Russia and China, officials said.“Occupancies have increased really,” Jayantissa Kehelpannala, head of Sri Lanka’s tourist hotels association said. “Sometimes it is very difficult to even get a […]
Cricket: Perera lift Sri Lanka to 165-7 in World Twenty20
CHITTAGONG, March 22, 2014 (AFP) – Kusal Perera hit a robust half-century to lift Sri Lanka to 165-7 in their group one Super-10 stage match against South Africa in Chittagong on Saturday. Sri Lanka’s most experienced trio of Tillakaratne Dilshan (nought), Mahela Jayawardene (nine) and Kumar Sangakkara (14) failed to supplement Perera. South African captain […]
‘s Laugfs says mini-hydro plant running
Mar 21, 2014 (LBO) – Sri Lanka’s Laugfs Gas Plc, a group with interests in energy, retailing and leisure said the first phase of a mini hydro power plant has started operations on March 17.It will sell power to state-run Ceylon Electricity Board. Laugfs had earlier said its Ranmudu Oya mini-hydro plant is Balangoda will […]
Sri Lanka hotel show and confab to showcase new tech, draw talent
Mar 20, 2014 (LBO) – A hotel supplies exhibition in Sri Lanka and an international hoteliers’ conference in June will showcase the latest energy saving technology and also help draw talent to the fast growing industry, officials said.The three day Hotel Show 2014, billed as the largest such event is South Asia is to kick […]
‘s LOLC group leisure assets under Browns unit
Mar 21, 2014 (LBO) – Sri Lanka’s Lanka Orix Leasing Company Plc said it had sold a 70 percent stake in LOLC Leisure, a hotel company, to Browns Investments Plc, a related company, for 2.8 billion rupees. In a separate transaction dated prior to the exit, LOLC Leisure was buying back shares from both LOLC […]
Sri Lanka Telecom to develop property holdings
Mar 19, 2014 (LBO) – Sri Lanka Telecom group said it had set up a separate company to develop its “extensive property portfolio” around the country which was unused or or under-used.In 2013, SLT Property Management (Pvt) Ltd (SLTPM) had been incorporated to develop its property holdings. “Given the growing demand for property in Sri […]
Sri Lanka target Russian and Ukraine visitors with beach festival
Mar 19, 2014 (LBO) – A beach festival in Bentota in Southwestern Sri Lanka will kick off next week targeting water sports lovers and tourists, particularly those from Russia and Ukraine, officials said. The Bentota Beach Festival will start on March 21. It is organized by the Hawkeyes, the sports arm of Sri Lanka’s Military […]
Military Chief
Mar 17, 2014 (LBO) – Former Sri Lanka Air Force chief Air Chief Marshal Harsha Abeywickrema has assumed duties at chairman of state-run Bank of Ceylon.Bank of Ceylon is Sri Lanka’s largest bank by assets. Bank of Ceylon said Abeywickrema joined the Air Force in 1980 as an officer cadet and was commissioned Pilot Officer […]
Vehicle Trend
Mar 17, 2014 (LBO) – Sri Lanka’s vehicle registrations have dropped to 23,130 units in February 2014, the lowest since April 2010, with a sharp drop in commercial vehicles, an analysis by an equities research house shows.Sri Lanka is recovering from a balance of payments crisis triggered by loans taken from state-run banks by utilities […]