Category: Industry
Tele Outlook
Nov 19, 2012 (LBO) – Sri Lanka’s telecom operators would grow on higher spending by subscribers and reduced price competition as the market penetration approaches 90 percent, a rating agency has said. Penetration has already reached 87 percent by the second quarter of 2012, and fixed wireless subscribers were declining, Fitch Ratings said in a […]
Road Finance
Nov 19, 2012 (LBO) – Sri Lanka has got a loan of 98 million US dollars from the Asian Development Bank for a 112. 9 million US dollar (14.6 billion rupees) program to rebuild 200 kilometres of roads in former war zones in the north of the island. The additional financing for the Northern Road […]
Sri Lanka rubber firms expect business expansion with Norway
Nov 18, 2012 (LBO) – A delegation of rubber industrialists who visited Norway are expecting an expansion of business including the development of new products, Sri Lanka’s Ceylon Chamber of Commerce said. The visit has opened the doors to the technical Rubber products market in Norway and are confident that they could meet the stringent […]
Sri Lanka tourist arrival up 15.5-pct in October
Nov 17, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 15.5 percent to 80,379 in October 2012 from a year earlier, data from the statistics office showed, with total visitors up 16. 0 percent to 774,151 during the first ten months. Arrivals from Western Europe were hardly changed growing 1.9 percent to 24,303 in October […]
SriLankan Airlines to ramp up training as skills shortages loom
Nov 16, 2012 (LBO) – SriLankan Airlines is to increase its training of airline personnel to help alleviate looming skills shortages in the region, an aviation forum was told. “We’re looking at capturing a part of that. Ticketing and cargo are very popular and will generate training opportunities. We aim to leverage our educated, skilled, […]
Ad Awards
Nov 16, 2012 (LBO) – A week of activities will kick off tomorrow ahead of Sri Lanka’s ‘Effie’ advertising awards organized by the Sri Lanka Institute of Marketing (SLIM) to recognize creating and effective advertising campaigns. Effie is a global program connected to the American Marketing Association which started in 1968 and is now held […]
Consumer Weakness
Nov 16, 2012 (LBO) – Profits at Singer Sri Lanka Plc, a distributor of consumer electronics fell 35 percent to 194 million rupees in the September 2012 quarter from a year earlier, as finance costs rose, interim accounts showed. The group reported earnings of 1.65 rupees per share. For the nine months to September the […]
Sri Lanka colonial era hotel, environs, in billion US dollar PPP project
Nov 16, 2012 (LBO) – Sri Lanka’s Grand Orient Hotel, owned by a state bank and adjacent British colonial era buildings will be re-developed with the help of private investment in a project which may involve up to a billion US dollars, the state information office said. State run Bank of Ceylon has developed a […]
Bidding Round
Nov 15, 2012 (LBO) – Sri Lanka will offer up to ten offshore oil blocks in a bidding round that may start as early as next month, Saliya Wickramasuriya director general of the island’s petroleum exploration office said. Blocks will be offered around the island ranging from the Western coast and curving over the north […]
‘s Aitken Spence building 200MW power plants in Bangladesh
Nov 15, 2012 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation said it will build two oil fired power plants totaling 200 MegaWatts in Bangladesh. In Sri Lanka the firm said it had connected a wind and hydro plant to the national grid. Earlier the group had […]
Gateway Deal
Nov 15, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange has signed a deal to provide Hong Kong Exchanges and Clearing Limited (HKEx) with an order routing platform. HKEx is the holding company of Hong Kong’s stock and futures exchanges and its clearing unit. Millennium IT software has been […]
‘s Aitken Spence net up 56-pct
Nov 15, 2012 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation said profits in the September 2012 quarter grew 56 percent to 731 million rupees from a year earlier. The group reported earnings of 1. 80 rupees per share for the quarter, in results filed with the […]