Category: Industry
Sri Lanka Mattala flights by Air Arabia
Mar 02, 2013 (LBO) – Air Arabia, a UAE based budget carrier will launch twice weekly flights to Sri Lanka’s second international airport in Mattala from March 18, a media report said.It will start flights between Sharjah and Mattala, Arabian Business, a Middle Eastern business news portal said. “Just a few months after our inception […]
Nothing There
Mar 01, 2013 (LBO) – Cairn Lanka (Pvt) Ltd has not found any oil in its fourth exploration well, its parent company said in a stock exchange filing.Cairn India said the well found “thick high quality re servoir sands, which were not hydrocarbon bearing,” and it was plugged and abandoned. The data from the well […]
Sri Lanka cricket captain to talk business with directors
Mar 01, 2013 (LBO) – Sri Lanka cricket captain Kumar Sangakkara will address top business executives at an event organized by the Sri Lanka Institute of Directors. The interview will also cover the views of the Cricket Captain on women in the game, celebrity status big money and corruption in sports. The forum will held […]
Sri Lanka targets China tourists
Mar 01, 2013 (LBO) – Sri Lanka will invite over 100 travel agents from China as part of efforts to boost visitors from the country where outbound tourism is growing, minister Keheliya Rambukwelle said. The cabinet of minister had approved a proposal by minister Basil Rajapaksa to invite the travel agents on a familiarization tour […]
Bank Gains
Mar 01, 2013 (LBO) – Profits at Sri Lanka’s Hatton National Bank rose 41 percent to 3.1 billion rupees in the December 2013 quarter from a year earlier, helped by higher net interest income and fee income, interim accounts showed. The group reported earnings of 7.93 rupees per share for the quarter.In the year to […]
‘s Kandy Hotels in Rs1.5bn refurbishment
Feb 28. 2013 (LBO) – Kandy Hotels Co (1938) Plc, which controls two hotels in Sri Lanka’s central hill city of Kandy said it will start a 1.5 billion rupee refurbishment of the properties with the help of a Singapore based architectural firm. Corrected. Year of completion 2014 The firm said Hotel Suisse’ and Kandy’s […]
Bank Gains
Feb 28, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 48.2 percent to 1.3 billion rupees in the December 2012 quarter from a year earlier, accounts filed with the Colombo Stock Exchange showed. The group reported earnings of 8.20 rupees per share for the quarter. For the year to December the group reported […]
Sri Lanka consumer durable imports slow in 2012: biz chamber
Feb 27, 2013 (LBO) – Growth in consumer electronics imports to Sri Lanka have slowed following a fall in the exchange rate and higher interest rates and China has increased its share, a business chamber has said.Sri Lanka’s Ceylon Chamber of Commerce said, machinery and mechanical appliances classified under chapter 84 of the international harmonized […]
Big Lender
Feb 27, 2013 (LBO) – Profits at Commercial Bank of Ceylon, Sri Lanka’s largest private lender, rose 22 percent to 2.4 billion rupees in the December 2012 quarter from a year earlier, helped by higher net interest income and lower provisions.The group reported earnings of 2.92 rupees per share for the quarter, in quarter accounts […]
Credit Trend
Feb 26, 2012 (LBO) – Loans from commercial banks to private borrowers fell to 9.9 billion rupees in December 2012 from 24.1 billion rupees a month earlier while credit to the state soared by 76.1 billion rupees, official data shows. In February the government raised 153 million dollars from a floating rate dollar bond sold […]
Sri Lanka AIA unit plans to go private, offer to minority shareholders
Feb 26, 2013 (LBO) – AIA Insurance said it is making an offer to buy out all minority shareholders of its Sri Lanka unit, ahead of plans to go private and made cash calls to boost capital.AIA said it was the operation model of the group to hold operating units as wholly owned units and […]
Yum Yum
Feb 26, 2013 (LBO) – Sri Lanka’s Renuka Shaw Wallace Plc, a consumer goods firm said it had bought a snack brand for 36 million rupees from Hemas group.The firm said it had bought the brand names and stock of Mr Pop, Chatters, Taze, Yummee, Rockers and Pik Nik brands from Hemas Manufacturing (Pvt) Ltd, […]