Category: Industry
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 […]
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 […]
‘s Access Engineering net up 65-pct
Feb 12, 2013 (LBO) – Sri Lanka’s Access Engineering Plc, which has interests in construction, real estate and automobiles said net profits in the December 2012 quarter rose 65 percent to 834 million rupees from a year earlier.The group posted earnings of 83 cents per share. In the nine months to December the group reported […]
Tele Chief
Feb 12, 2013 (LBO) – Sri Lanka Telecom said Lalith de Silva, who headed its cellular unit has taken over as the new group chief executive from February 07. He will oversee SLT units other than Mobitel. De Silva said SLT would continue roll out communications technology to benefit customers. “I hope to build and […]
Diesel Standard
Feb 12, 2013 (LBO) – Indian Oil Corporation’s Sri Lanka unit said a shipment of diesel which had been held up at Colombo port following a quality test was found to be off specification in colour and appearance and not in core chemical properties.In some countries colour is not a criteria and in Sri Lanka […]
Sri Lanka exports down 7.4-pct in 2012, trade gap shrinks
Feb 09, 2013 (LBO) – Sri Lanka’s exports fell 7.4 percent to 9.7 billion US dollars in 2012 from a year earlier and imports fell 5.8 percent to 19.0 billion dollars, shrinking the trade gap 4.1 percent to 9.3 billion dollars. A trade deficit is caused by additional spending power domestic economic agents receive over […]
Sri Lanka set up state firms for construction
Feb 10, 2013 (LBO) – Sri Lanka will set up three state companies to bid for construction projects under the road development agency, targeting contracts of less than 100 million rupees.Analysts say the new firms may be able to get contracts that are now going to medium sector businesses. The cabinet of minister had approved […]
Uni Project
Feb 10, 2013 (LBO) – Sri Lanka is on track to build a 100 million US dollar branch campus of Britain’s University of Central Lancashire (UCLan), an 120-acre site leased from the state, a media report said.Many parents spend lifetime savings, sell houses or get into debt to educate their children abroad. Sri Lanka’s The […]
‘s over-priced hotel boom ending: equities report
Feb 09, 2013 (LBO) – Sri Lanka is about 500 to 800 US dollars more expensive than alternatives for a 10-day holiday with standards lower than competition, which may hit occupancy in the future, an equities research report has warned.A 10-day holiday in Sri Lanka may cost between 2,000 to 2,600 US dollars with a […]