Category: Industry
Sri Lanka Australia hospitality school starts
Jan 09, 2012 (LBO) – A Sri Lanka-Australia joint venture hospitality sector training school ready to begin teaching its first intake of students at a 320 million rupee purpose built facility, officials said.The Colombo Academy of Hospitality Management (CAHM) was set up by the Sri Lanka Institute of Information Technology (SLIIT) and Australia’s William Angliss […]
Deposit Target
Jan 08, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest commercial bank by assets is aiming for a trillion rupees in deposits, newly appointed general manager D M Gunasekara said.Gunasekara had been with the Bank of Ceylon for 29 years and had worked in corporate, retail, international and off-shore operations of […]
Ship Call
Jan 08, 2013 (LBO) – A call by a car carrier belonging to Japan’s K-Line, at Sri Lanka’s Colombo port this week is expected to lead to further business in transshipment from the shipping line, officials said.Wickrama had said 200 million dollars had been spent in upgrading container handling facilities in Colombo to boost productivity […]
Funding Line
Jan 07, 2013 (LBO) – Sri Lanka’s LOLC Micro Credit Ltd, said it had syndicated a 55.5 million US dollar from a number of foreign development agencies. FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), of the Netherlands had lead arranged the deal. FMO is a 20 percent shareholder of LOLC Micro Credit. FMO (Nederlandse Financierings-Maatschappij voor […]
Gas Tariff
Jan 06, 2012 (LBO) – Sri Lanka’s consumer affairs office has raised the price of liquefied petroleum gas by 150 rupees per 13.5 kilogram cylinder to 2,396 rupees under a regulated pricing formula.Prices of both state-run Litro Gas and Laugfs will go up, reports said. Domestic LP Gas prices are regulated by the CAA with […]
Sri Lanka aims to have best customs office in region: Treasury Secretary
Jan 04, 2013 (LBO) – Sri Lanka is aiming to have the best customs office in the region with the office fully online and three ‘free ports’ in operation, Treasury Secretary P B Jayasundera said. Customs will also facilitate the about a million tourists are year, he said. Sri Lanka’s customs office will have ASYCUDA […]
Sri Lanka in US80mn aircraft MRO complex
Jan 04, 2013 (LBO) – Sri Lanka’s state-run SriLankan Airlines will operate an 80 million US dollar aircraft repair and overhauling (MRO) complex at the country’s second international airport in Mattala targeting the Asian market and India.Information minister Keheliya Rambukwelle said cabinet approval has been given to obtain foreign financial assistance for the project. Sri […]
‘s Aitken Spence drops deal with Six Senses
Jan 04, 2013, (LBO) – Sri Lanka’s Aitken Spence, said it had dropped plans to build a hotel with Six Senses, an international hotel chain and the Favourite group, a domestic firm.Aitken Spence said in 2010 that is was planning to build a 35 million US dollar resort and spa with beachfront villa on a […]
Sri Lanka main airport to expand with Japan loan
Jan 03, 2013 (LBO) – State-run Airport and Aviation Services (Sri Lanka) Ltd, has signed up a 28.9 billion Yen loan from the Japan International Co-operation Agency for expansion, information minister Keheliya Rambukwelle said.. The funds will be used to expand the terminal building, widen an aircraft parking apron and related facilities. The project is […]
Full Cover
Jan 03, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom is expanding its base stations by 1,800 to 3,500 which will result in 100 percent coverage of the population, the cellular operator said.The firm said it had opened ‘contact centres’ in Mullativu in the north and Sooriywewa in the south creating ICT based […]
Borrowing Practices
Jan 02, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon has loaned nearly 140 billion rupees to customers in former war zones in the North and East and default rates are very low, a top official said.“We are happy to say NPAs (non-performing assets) since the war, in the North and the East taken […]
Stepping Down
Jan 01, 2013 (LBO) – Gamini Wickramasinghe, who is stepping down as chairman of Sri Lanka’s Bank of Ceylon said dealing with loan applicants who expected patronage was among the biggest challenges in managing a state entity. “A lot of people expect to get loans from a state bank and think it is easy if […]