Category: Industry
Sri Lanka to participate in Indian summit following CII visit
Nov 21, 2012 (LBO) – Sri Lanka’s economic development minister Basil Rajapaksa will lead a delegation to India’s ‘Partnership Summit’ to be held in Agra in January, India’s high commission (embassy) said after a business delegation visited the island. Godrej had said that Indian companies could use to set up priority industries like pharmaceuticals, IT […]
Sri Lanka importers annual meet with customs, trade bosses
Nov 20, 2012 (LBO) – The Imports Section of Sri Lanka’s Ceylon Chamber of Commerce will have its annual fellowship on Wednesday 28, with two senior government officials relating to international trade participating. The chief guest will be Neville Gunawardena, director general of Sri Lanka’s Customs office and P D Fernando, director general of Sri […]
Retail Trend
Nov 20, 2012 (LBO) – Cargills (Ceylon) Plc Sri Lanka’s a consumer goods group which runs the island’s largest retail network said its taking stock of future expansion following a budget for 2013 and a slowdown in consumer spend. Inflation picked up sharply in 2012 and the rupee fell after authorities took large volumes of […]
Sri Lanka Fortress Resorts profits sharply up
Nov 20, 2012 (LBO) – Fortress Resort and Spa, a hotel in Koggala in Sri Lanka’s southern coast said profit rose sharply to 35 million rupees in the six months to September 2012 recovering from a loss a year earlier. The firm reported earnings of 32 cents for the half year. Sri Lanka’s rupee weakened […]
Sri Lanka Kalkudah Bay gets boutique villas
Nov 20, 2012 (LBO) – A 500 million rupee a 30 villa boutique hotel with French investment will be built in Kalkudah Bay, in Sri Lanka’s eastern coast, the state investment promotion agency said. Sri Lanka’s Board of Investment said 12 luxury bungalows comprising the Karpaha Kalkudah resort will be built among 300 coconut, kohomba […]
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 […]
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 […]
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 […]