Category: Industry
‘s electricity utility turns around
Nov 23, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has turned around with a 17 billion rupee profit up to September 2013 but it was yet to pay down bank borrowings, a finance ministry report said.Ceylon Electricity Board has earned revenues of 142 billion rupees for the nine months and was projected to […]
Cricket: Perera, Dilshan fire Sri Lanka to Twenty20 win
PALLEKELE, November 21, 2013 (AFP) – Kusal Perera and Tillakaratne Dilshan hit aggressive half-centuries as hosts Sri Lanka romped to an emphatic eight-wicket win over New Zealand in the second Twenty20 international in Pallekele on Thursday.McCullum smashed 26 off 16 balls with three boundaries, while Ronchi hit three fours and a six. Perera smashed 57 […]
Sri Lankan Airlines lose Rs15.7bn in first half 2013
Nov 22, 2013 (LBO) – State run SriLankan Airlines had lost 15.7 billion rupees (120 million US dollars) in the first half of the 2013 financial year, a finance ministry report said. In the six months to September 2013, the airlines had posted revenues of 54.4 billion rupees and burned up 70 billion rupees in […]
Software Growth
Nov 22, 2013 (LBO) – Sri Lanka’s software and knowledge services exports rose 17 percent to 248 million US dollars in the first half of 2013 from a year earlier, an economic report said.In Sri Lanka the sector started to grow especially after a state monopoly overseas telecommunications was ended. “The computer and information services […]
Cricket: Sri Lanka to tour Bangladesh in January
DHAKA, November 21, 2013 (AFP) – Sri Lanka will play two Tests, three one-day internationals and two Twenty20 matches on their tour of Bangladesh starting in January, the Bangladesh cricket board announced on Thursday.The two teams last met in Sri Lanka in March this year when the hosts won the two-Test series 1-0 and also […]
Sri Lanka to give tax breaks to apartments for professionals
Nov 21, 2013 (LBO) – High income earnings professionals who combine in small groups to build housing complexes for themselves will be given a 50,000 tax deduction a month for mortgage payments, the budget for 2014 said.It will apply to doctors, lawyers, engineers, architects and business executives. Profit tax on banking and financial institutions which […]
Sri Lanka gains popularity at Emirates Holidays
Nov 21, 2013 (LBO) – Sri Lanka has become one of the top 10 most popular destinations in after being included in Emirates group’s travel arm, officials said as outbound packages were also launched to customers in the island. The firm was developing more Sri Lanka tours targeted at specific markets. Emirates Holidays set up […]
Budget2014
Nov 21, 2013 (LBO) – Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge, President Mahinda Rajapaksa said.“¦I propose that any finance company which is a subsidiary company owned by a main company be absorbed by the main company to consolidate their operations,” […]
Sri Lanka port leases tanks to Litro Gas
Nov 20, 2013 (LBO) – State-run Sri Lanka Ports Authority said it had leased liquefied petroleum gas tanks in a facility at newly built Hambantota port to another state run firm.The LPG distribution firm was acquired by the state when Shell sold out. Three tanks with a capacity of 6,000 cubic metres each had been […]
Sri Lanka tourist arrivals up 27-pct in October
Nov 19, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 27.9 percent to 102,805 in October 2013 from a year earlier, helped by surging arrivals from China, Maldives, India and Russia, official data showed. Middle Eastern arrivals were up 45.7 percent to 7,624, with visitors up to October up 12 percent to 49,250. East Asian […]
Campus Launch
Nov 16, 2013 (LBO) – A campus of UK’s University of Central Lancashire (UCLan) launched in Sri Lanka this week will strengthen links between the two countries, British foreign secretary William Hague has said.The British High Commission said about 8,000 Sri Lankans gain UK education qualifications each year, while 35,000 more get professional qualifications through […]
Sri Lanka tourist arrivals reaching a million in November: official
Nov 16, 2013 (LBO) – Sri Lanka’s tourist arrivals have topped 904,000 and is reaching towards a million tourists by the end of November 2013, an official said. The average spend per day was 109 US dollars compared to 65 in 2009, Jayaweera said. Sri Lanka’s arrivals have been boosted by reasonably priced accommodation and […]