Category: Industry
Sri Lanka exports down 6.8-pct in April
June 24, 2013 (LBO) – Sri Lanka’s exports fell 6.8 percent in April 2013 to 696.6 million US dollars with apparels falling 14.98 percent to 275 million US dollars from a year earlier, and exports in first four months down 7.8 percent, the Central Bank said. Industrial exports were down 7.5 percent to 518 million […]
Credit Level
June 24, 2013 (LBO) – Fitch Ratings said it had downgraded Sri Lanka’s National Development Bank by one level to ‘AA-(lka)’ amid greater retail lending. The agency also downgraded the bank’s outstanding subordinated redeemable debentures to ‘A+(lka)’. Both A+(lka) and AA-(lka) are in the investment grade. Project loans have reduced as a share of total […]
Sri Lanka make two changes for tri-nation
June 23, 2013 (AFP) – Sri Lanka’s cricket selectors on Sunday made two changes to their Champions Trophy squad for a triangular one-day series in the West Indies starting this week. Batsman Tillakaratne Dilshan is out with with a calf injury suffered in Thursday’s Champions Trophy semi-final defeat to India, while all-rounder Thisara Perera was […]
‘s Liberty
WASHINGTON, June 22, 2013 (AFP) – Internet users are taking a fresh look at “privacy” search engines that do not store data or track online activity, in light of the flap over US government surveillance.While Google’s market share has not seen a noticeable dent, privacy search engines like US-based DuckDuckGo and European-based Ixquick have seen […]
Sri Lanka imposes 10 percent tax on gold imports
June 21, 2013 (LBO) – Sri Lanka slapped a 10 percent tax on gold, a senior government official deputy Treasury Secretary S R Attygalle said, as world gold prices fell to levels seen in 2010.India had imposed an 8.0 percent tax earlier. Sri Lanka’s gold import surged to 100 million US dollars in the first […]
Sri Lanka to exempt foreign owned insurers from listing
June 20, 2013 (LBO) – Sri Lanka will exempt foreign owned insurers from a compulsory requirement to list on the stock exchange, according to a proposal approved by the cabinet of ministers.Sri Lanka’s insurance law now requires all insurers to list by February 11, 2016 and insurers registered with the Insurance Board of Sri Lanka […]
Sri Lankan Airlines sign up 4 A350XWBs and A330s
June 20, 2013 (LBO) – Sri Lankan Airlines had signed a deal with Airbus to buy four A350-900 and six A330-300 aircraft, powered by Rolls Royce engines in the first phase of replacing its aging long haul fleet. “The winning combination of A330s and A350 XWB will allow SriLankan Airlines to offer the highest levels […]
More Sri Lankans looking to book domestic holidays online: survey
June 20, 2013 (LBO) – About 23 percent of domestic holidaymakers in Sri Lanka are booking hotels online and up to 85 percent were considering internet booking for their next holiday, according to survey on travel planning.BQu Services, an online marketing and research firm that conducted the survey said 85 percent of holidaymakers said they […]
Maldives Eon Resorts to build US$170mn hotel in Sri Lanka
June 20, 2013 (LBO) – EoN Resorts (Pvt) Ltd, a Maldives-based resorts developer has applied to build a 170 million US dollar luxury hotel in Sri Lanka’s capital Colombo, the state information office said. It will also have a 150,000 square feet shopping mall and a 2000 square feet food court. The cabinet of ministers […]
‘s Jayawardene
CARDIFF, June 19, 2013 (AFP) – Sri Lanka’s Mahela Jayawardene is under no illusions about the scale of the task confronting his side when they face India in a Champions Trophy semi-final in Cardiff on Thursday.The latest high-profile one-day international contest between the teams is a repeat of the 2011 World Cup final in Mumbai. […]
SriLankan Airlines starts mobile check-in
June 19, 2013 (LBO) – State-run SriLankan Airlines said it is offering mobile check-in and access to its loyalty program and other services for customers with smartphones.A mobile application developed with Virtusa Corporation, a software firm, allows passengers to select their seats and check up to two hours before departure. “Customers are increasingly accepting high-tech […]
Innovative Education
June 19, 2013 (LBO) – Sri Lanka’s fee-levying higher education institutes are drawing on technology and cost management strategies to make services affordable to students and maintain quality, officials said.Overseas education is very expensive for students and parents and it is not affordable to many. Affiliated colleges with a local partner are more affordable. UK’s […]