Category: Industry
‘s MAS group launches amanté lingerie in home market
Oct 24, 2012 (LBO) – Sri Lanka’s MAS group, which claims to be South Asia’s largest lingerie maker with a billion US dollars of annual revenues has launched its amanté brand in the island after being first released in India in 2007. The firm said it is targeting women between the ages of 21-45 who […]
” rating confirmed: RAM
Oct 24, 2012 (LBO) – RAM Ratings has confirmed an ‘AAA’ rating for Sri Lanka Insurance Corporation, on its competitive position, state ownership and its systemic importance as the second largest premium collector. RAM Ratings Lanka reaffirms Sri Lanka Insurance Corporation Ltd’s ratings at AAA/P1 RAM Ratings Lanka has reaffirmed Sri Lanka Insurance Corporation Ltd’s […]
Sri Lanka state carrier opens sales office in Wennappuwa
October 24, 2012 (LBO) – State-run SriLankan Airlines said it is opening a sales office in Wennappuwa, north of Colombo in the island’s north western region. 2nd Chance Travels (Pvt) Ltd will operate the passenger sales agency office at No 92, Main Street, Wennapuwa. The airline’s Wennapuwa office will be the third official sales agency […]
Common User
Oct 24, 2012 (LBO) – Sri Lanka’s East West Properties Plc, which has interests in warehousing and tourism will rent out broadcast towers after it acquired a media firm with access to spectrum. East West Properties and the time funded the project with a loan, according information disclosed in annual reports at the time. East […]
Sri Lanka tourist arrivals up 18-pct in September
Oct 24, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 18. 1 percent to 71,111 in September 2012 from a year earlier, with arrivals during the nine months up 16 percent to 693,772 data from the Indian Ocean island’s tourist promotion office showed. Arrivals from the Middle East fell 13 percent to 4,166. East Asian […]
Sri Lanka Hotel Sigiriya net up 24-pct
Oct 23, 2012 (LBO) – Profits are Hotel Sigiriya Plc, which is located in central Sri Lanka, rose 24 percent to 16.5 million rupees in the September 2012 quarter, from a year earlier, interim accounts showed. The firm reported earnings of 2.82 rupees for the quarter. In the six months to September the firm reported […]
Credit Outlook
Oct 23, 2012 (LBO) – Sri Lanka’s ‘BBB(lka)’ rated Pan Asia Banking Corporation’s rating outlook has been lifted to positive from stable, on ongoing structural improvements made since 2009, Fitch Ratings said. The loan book is largely exposed to small and medium enterprises, individuals and retail customers which have been the bank’s traditional focus, Fitch […]
Island Links
Oct 23, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon the country’s largest lender by assets said it is mulling a branch in the Indian Ocean island of Seychelles as efforts are made to boost economic relations. Sri Lanka’s fisheries minister Rajitha Senaratne is expected to lead a delegation to Seychelles shortly for talks […]
Soft Eye
Oct 22, 2012 (LBO) – Software developed by Sri Lanka based MilleniumIT, will be used by the London Metal Exchange (LME) for its real time multi-asset class surveillance system, the unit of the London Stock Exchange Group said. “We are very happy that the London Metal Exchange has chosen Millennium Surveillance as its new surveillance […]
Micro Rating
Oct 22, 2012 (LBO) – Fitch Ratings has lifted the outlook of Sri Lanka’s ‘BB+(lka)’ rated Sanasa Development Bank, a micro lender, to positive from stable, on improving asset quality ad better margins. “The revision of the Outlook reflects SDB’s improved credit metrics, which are now more in line with those of higher-rated peers,” Fitch […]
Sri Lanka can up exports by moving to complex products: economist
Oct 20, 2012 (LBO) – Sri Lanka can increase exports and incomes by creating conditions to allow producers to move in to more complex products based on knowledge and research, a top economist said. By moving to complex products through innovation, a country could stop worrying about competition from Bangladesh or Vietnam, he said. Sri […]
‘s TATA
Oct 19, 2012 (LBO) – Sri Lanka’s Urban Development Agency will give land on a 99-year lease to India’s Tata Housing Development Company Ltd as part of efforts to re-develop the island’s capital, minister Keheliya Rambukwelle said. The cabinet of ministers had approved the proposal to give around eight acres of land in Colombo’s Slave […]