Category: Industry
‘s Softlogic gets Burger King franchise
Sept 02, 2013 (LBO) – Sri Lanka’s Softlogic Holdings Plc said it had got the franchise to set up Burger King branded restaurants in Sri Lanka.BK AsiaPac will provide services and operational support for the chain in Sri Lanka. Corrected Soflogic Restaurants (Pvt) Ltd, a fully subsidiary will open three restaurants within a few months, […]
Credit Trend
Sep 02, 2013 (LBO) – Sri Lanka’s commercial bank credit to private borrowers hit a 10 months high in July after a reserve ratio cut, while credit to state and state enterprises also surged, official data shows.Only the April fiscal data has so far been released. State cash flow gaps however can also occur due […]
Sri Lankan airlines says to change times or buy tickets quickly
Aug 30, 2013 (LBO) – State-run Sri Lankan Airlines has asked customers to change or buy tickets today as its reservation system, will not be accessible after midnight tonight. The reservation system will come online on September 01 following an upgrade. Passengers who want to buy tickets or change itineraries are being asked to contact […]
Sri Lanka overreacted to milk contamination: minister
Aug 30, 2013 (LBO) – Sri Lanka has probably overreacted in its response to stories of contaminated milk imported from abroad, information minister Keheliya Rambukwelle said.A trade union went to courts and got an order halting the sales of Fonterra products, and nationalists protested in front of its factory in Sri Lanka, leading to the […]
Air New Zealand annual profit soars to five-year high
WELLINGTON, August 28, 2013 (AFP) – Air New Zealand posted a 156 percent jump in annual net profit Thursday, the flag carrier’s best result in five years. The airline said net profit for the 12 months to June 30 was NZ2 million (2 million), up from NZ million in the previous year. Chairman John Palmer […]
Briefing
Aug 29, 2013 (LBO) – A top official of Google, an information technology company will be in Sri Lanka on a chief executive officer’s briefing organized by the island’s IT industry. SLASSCOM, Sri Lanka’s IT and software chamber, said Ann Lavin, director, policy and government affairs, Greater China and Asian growth markets, Google, will deliver […]
Education Zones
Aug 29, 2013 (LBO) – Sri Lanka will set up investment zones to draw international universities to the country in a bid to boost higher educational services available to the people, a top official said.Sri Lanka’s higher education ministry secretary Sunil Jayantha Nawaratne said ‘free zones’ for education will be set up in Gampaha, Puttalam, […]
How?
WELLINGTON, August 29, 2013 (AFP) – New Zealand demanded answers Thursday about how a false test reading triggered a botulism scare for diary giant Fonterra that forced global product recalls, describing the episode as a costly embarrassment. Officials sounded the alarm earlier this month after tests showed batches of whey power produced by Fonterra were […]
Resumed
Aug 28, 2013 (LBO) – Fonterra, a New Zealand based milk producer said it was resuming operations at its Sri Lanka unit after assessing that there was no threat to staff. “Last Friday we took the decision to temporarily suspend our Sri Lanka operations to protect our people, and to protect our farmer shareholders™ assets,” […]
World tourism shows surprise surge
MADRID, August 26, 2013 (AFP) – International tourist numbers surged by 5.2 percent to nearly half a billion people worldwide in the first half of 2013, beating earlier expectations, the United Nation’s World Tourism Organisation said Monday. Some 494 million international tourists spent at least one night abroad in the first six months of the […]
Sri Lanka tourist arrivals up 9.5-pct in July
Aug 27, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 9.5 percent to 98,944 in July 2013 from a year earlier, helped by India, Germany and China, data from the state tourism promotion office said. In the seven months to July visitors were up 12.5 percent to 611,222. South Asian arrivals rose 24.6 percent to […]
Credit Snapshot
Aug 27, 2013 (LBO) – Sri Lanka’s Nations Trust Bank expects loan growth to pick up towards the end of the year but the lender will be cautious and maintain liquidity, a top official said. “We estimate some revival in credit demand by fourth quarter of this year,” NTB chief executive Renuka Fernando told an […]