Category: Industry
‘s Taj unit profits up, revenues down
May 12, 2013 (LBO) – Profits at Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts rose 228 percent to 24.8 million rupees in the March 2013 quarter from a year earlier helped by as absence of forex losses, but revenues weakened. The firm reported earnings of 19 cents per share for […]
Connection
May 11, 2013 (LBO) – Sri Lanka Telecom said it had provided telecom facilities to Mattala Rajapaksa International Airport for all services and commercial partners to operate effectively. “We assure MRIA of our utmost commitment to provide the highest quality and most reliable services always,” Kiththi Perera, head of SLT’s enterprise and wholesale business said […]
‘s Veyangoda town to get US$2.6mn hotel
May 11, 2013 (LBO) – A 2.6 million US dollar ‘eco-friendly’ hotel will be built in Veyangoda town, Sri Lanka’s state investment promotion agency said.Coco Agro Hotels (Pvt) Ltd plans to build a 4-star class hotel with a 700-person conference centre which they expect to complete in 2014, the Board of Investment, which gives tax […]
Sri Lanka to call tenders for duty free emporium in Mattala: minister
May 10, 2013 (LBO) – Sri Lanka will tender a concession to operate a duty free shopping complex in the newly opened Mattala airport, aviation minister Priyankara Jayaratne said, in a move that could draw more passengers to the destination. “I have instructed officials to call for tenders to set up the duty free shops […]
Emerging
By Arun Perera May 10, 2013 (LBO) – Samsung hopes to double phone sales in Sri Lanka in 2013 to one million handsets with smart phones making up 40 percent of the total, official said. “We have seen a growth in the mobile market of Sri Lanka and the market is adapting to smartphones, especially […]
Rising Sun
May 10, 2013 (LBO) – Sri Lanka’s Pan Asia Bank said it was in a strong position to boost investments from Japan with Tokyo-based Bansei Securities, also becoming a shareholder.“Pan Asia Bank with its strong understanding of Japanese investor concerns has been playing a pivotal role in securing and executing several large scale investment activities […]
Sri Lanka electricity tariffs hiked on earlier charging system
May 9, 2013 (LBO) – Sri Lanka’s Public Utility Commission has set electricity tariffs reverting to an earlier system of charging by slabs, responding consumer comments at a public hearing.The regulator also made no change to users of up to 60 units complying with a speech made by President Mahinda Rajapaksa on May Day following […]
Sri Lanka flights by Air Arabia to Mattala stopped
May 09, 2013 (LBO) – Travel agents said they have stopped issuing tickets on Air Arabia, a UAE based budget carrier, in the Sharjah to Mattala sector, after the airline halted flights to the new airport.Aviation ministry secretary Ravindra Ruberu said flights have been temporarily suspended but they are likely to resume by August. Air […]
Tele Profits
May 09, 2013 (LBO) – Sri Lanka’s Dialog Axiata reported profits of 1.59 billion rupees in the March 2013 quarter from a loss of 540 million rupees made a year earlier mostly due to currency depreciation. The group reported earnings of 20 cents per share, in accounts filed with the Colombo Stock Exchange. In mid-day […]
PayTV
May 09, 2013 (LBO) – Sri Lanka’s Dialog Axiata said its pay television users grew to 274,000 by March 2013 from 264,000 in December, up 25 percent from a year earlier while mobile subscribers topped 8.0 million. . Revenues in the pay TV business rose 25 percent to 848 million rupees in the March quarter […]
Publication
May 09, 2013 (LBO) – A book on interest rates written by assistant governor W M Hemachandra has been published to improve economic knowledge, Sri Lanka’s central bank said.‘Interest Rates The Theory and Practice’ is aimed at university students, academics, analysts, researchers and policy makers.It will also be useful for high school students and teachers. […]
Sri Lanka exports down 2.8-pct in March, apparel up
May 08, 2013 (LBO) – Sri Lanka’s exports fell 2.8 percent to 837 million US dollars in March 2013 from a year earlier, but apparel was up 5.0 percent to 344.5 million US dollars. The Central Bank said remittances fell 3.4 percent to 545.5 million US dollars. When remittances or exports fall, imports will also […]