Category: Industry
Cricket: Two Sri Lankans pulled up for excessive appealing
CARDIFF, June 9, 2013 (AFP) – Former Sri Lankan captains Mahela Jayawardene and Tillakaratne Dilshan have been reprimanded for appealing excessively during Sunday’s tense Champions Trophy clash against New Zealand.The charges against Jayawardene and Dilshan were laid by on-field umpires Bruce Oxenford and Rod Tucker, and television umpire Ian Gould. An official reprimand is the […]
AirAsiaX plans huge fleet expansion with IPO
KUALA LUMPUR, June 10, 2013 (AFP) – Malaysian long-haul budget carrier AirAsia X said Monday it plans to use proceeds from a public listing to more than triple its fleet in the next four years to meet demand in Asia-Pacific.Aviation tycoon Tony Fernandes said the long-haul arm of budget giant AirAsia hopes to raise up […]
Great Expectations
June 10, 2013 (LBO) – Sri Lanka’s small and medium enterprises could use e-commerce “to grow exponentially,” software and outsourcing chamber official said welcoming plans by authorities to liberalize Paypal inward payments.Central Bank Governor Nivard Cabraal said last month, that the regulator was “seriously” looking at liberalizing Paypal inward remittances, which had been blocked in […]
‘s spin trial
CARDIFF, June 8, 2013 (AFP) – New Zealand are preparing to face a spin barrage from Sri Lanka when the two sides meet in the Champions Trophy in Cardiff on Sunday.But Sri Lanka still lost that game with one over to spare as India rode Dinesh Karthik’s unbeaten 106 and Virat Kohli’s 144 to a […]
Moving Foreward
June 08, 2013 (LBO) – Sri Lanka’s Kia automobile distributor which launched the 2013 Sorento sport utility model in Colombo is banking on tax slashed permits issued to state workers to sell the vehicles, an official said.“We haven’t gone in to those markets yet but I am sure there is potential,” Perera said.“I guess with […]
‘s SMI Housing in US$10mn apartment complex
June 7, 2013 (LBO) – A 26-storey apartment block will be built with a 10 million US dollar investment at Deal Place, in an up market suburb in Sri Lanka’s capital Colombo, the state investment promotion agency said.The Board of Investment of Sri Lanka which gives tax breaks SMI Housing, said the developer will construct […]
Berth Building
May 06, 2013 (LBO) – State-run Sri Lanka Ports Authority has contracted Hyundai Engineering to build a 36 billion rupee berth in an expansion project of the Colombo port, the state information office said.The cabinet of ministers had given the nod to proceed with the project. The berth will be built on the East Terminal […]
Road Finance
June 6, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon will finance 48.2 kilometre road at a cost of 3,915 million rupees, the state information office said.The cabinet of ministers had given the nod for the proposal by the ministry of finance to enter into a loan agreement with the bank. The road will […]
Saudi Connection
June 6, 2013 (LBO) – Sri Lanka Ports Authority inked a deal for a 44 million US dollar yatch and shipbuilding facility, Thursday with Saudi Arabia based Hadi Hamad Al-Hammam Group’s Seagulf Shipyard (Pvt) Ltd, the state port agency said. Chairman of SLPA, Priyath Wickrama, Hadi Hamad Al-Hammam, president, Hadi Hamad Al-Hammam Group and Nazeer […]
Favored Nations
June 05, 2013 (LBO) – Sri Lanka has been included in a list of exempt countries released by the United States on sanctions imposed on crude oil purchases from Iran, a media report said. The US administration ruled that the economies concerned had taken steps to reduce imports of Iranian oil, so their financial institutions […]
Retail Challenge
June 06, 2013 (LBO) – Profits at Sri Lanka’s Cargills (Ceylon) Plc, fell 58 percent to 123 million rupees partly due to a retail tax and higher interest costs on new investments but the group said it was taking counter measures.Cargills reported earnings 55 cents per share for the quarter, in accounts filed with the […]
”’ guests
June 6, 2013 (LBO) – Cinnamon Lakeside, a unit of Sri Lanka’s John Keells group said it saw more ’emerging market’ guests in the past year, while facing competition from luxury apartments. The company said in the past year occupancy had risen to a average of 60 percent from 55 percent and room rates had […]