Category: Industry
Tax Effects
Feb 19, 2013 (LBO) – Sri Lanka’s registrations of BMW luxury cars rose 280 percent in January 2013 from a year earlier following changes to taxes while new registrations of small Maruti/Suzuki models plunged 84 percent, data compiled by an equities research house show.Monthly data from Sri Lanka’s motor vehicle registry compiled by JB Stockbrokers […]
Sri Lanka central hill city to get mixed development
Feb 18, 2013 (LBO) – A twin tower property project made up of apartments, hotel and restaurant will be built in the central hill city of Kandy by a firm promoted by expatriate Sri Lankans from the area, the island’s investment promotion office said. Sri Lanka’s Board of Investment said the project by GVR Lanka […]
Eyeballs
Feb 18, 2013 (LBO) – Sri Lanka’s Dialog Television (DTV) a unit of Dialog Axiata offering satellite based pay television said subscribers grew 23 percent to 264,000 in 2012 from a year earlier. But profits after tax fell 57 percent to 11 million rupees in 2012 from a year earlier due to an equipment write-down, […]
Chat Profits
Feb 18, 2013 (LBO) – Sri Lanka’s Dialog Axiata, which has interest in mobile, fixed telecom and pay television said group profits fell 30 percent to 928 million rupees in the December 2012 quarter from a year earlier, dragged down by write-offs. The group reported earnings of 12 cents per share for the quarter. For […]
Nation Branding
Feb 18, 2013 (LBO) – Sri Lanka has a chance to strengthen its ‘nation brand’ after the end of a civil war, by building upon freedom enhancing values and being focused and consistent on messaging that differentiates the island, a international consultancy has said. Sri Lanka has entered a country brand index (CBI) compiled annually […]
Oil Offer
Feb 18, 2013 (LBO) – Sri Lanka is kicking of a second licensing round for off-shore oil blocks with road show starting in Houston on March 07, reports said.A notice on Sri Lanka’s petroleum resources development office said bidders conferences will also be held in London on March 12, and in Singapore on March 21 […]
Oil Plans
Feb 18, 2013 (LBO) – Sri Lanka is planning to offer up to 11 off-shore oil blocks on production sharing deals in a bidding round that will close around September and others where less data is available for joint study, a media report said. Sri Lanka is to open a second bidding round in March […]
Diversifying Strategy
Feb 18, 2013 (LBO) – LankaIOC, a unit of Indian Oil Corporation is planning to deal in petrochemicals such as polyethylene and polypropylene, to diversify its product portfolio, an official said.Dakwale told reporters earlier this month that the firm was planning to retail Euro III grade diesel following a request from Sri Lanka’s motor sector.It […]
Petro Balance
Feb 15, 2013 (LBO) – Profits at Lanka IOC, a Sri Lanka unit of Indian Oil Corporation rose 16 percent to 728 million rupees in the December 2012 quarter from a year earlier, partly helped by forex gains, an official said. About 27 percent of the retail price of petrol is made up of government […]
Charity Music
Feb 15, 2013 (LBO) – An annual country music concert will be held for the 25th time in Sri Lanka’s capital Colombo to raise funds for needy children with European and US performance along local artistes performing, its organizers said.Colombo-base Country Music Foundation said its ‘Country Roads’ festival is the longest running concert of its […]
Sri Lanka hotel group calls for destination marketing
Feb 15, 2013 (LBO) – A top Sri Lankan resort operator which also has overseas operations has again called for tourism authorities to have strong destination promotion in line with regional competitors. Aitken Spence said it had strong results from the Maldives, which is set up as a niche high end destination. “We are keen […]
Sri Lanka economy will be stable with cost-based energy prices: IMF
Feb 14, 2013 (LBO) – Sri Lanka’s economy will be stable and more domestic resources will be available for high value spending if energy prices are adjusted to match import costs, the International Monetary Fund had said.“Step number one could be to adjust prices closer to cost-recovery, if not have cost recovery,” IMF mission chief […]