Category: Industry
Sports Backbone
Oct 02, 2012 (LBO) – Sri Lanka Telecom, the island’s largest telecom provider says it is providing high speed connections to all sporting venues during the Twenty20 world cricket championships being held in the island. SLT has provided fibre optic links to cricket stadia in Hambantota and Galle in the south, Pallekele in central Sri […]
M&A Forum
Oct 02, 2012 (LBO) – Sri Lanka chapter of UK’s Chartered Management Institute and KPMG, a accounting firm, has organized a forum on mergers and acquisitions as businesses look outside organic growth to expand. While mergers and acquisitions are becoming popular there are also risks and challenges. CMI and KPMG has brought together a group […]
Outward Eye
Oct 02, 2012 (LBO) – Sri Lanka’s NDB Bank group will use a part of the cash from a 59 million US dollar exit from an insurance unit for regional expansion, chief executive Russel de Mel said. “We are looking for regional expansion,” de Mel said. “Though we have 30 years of experience as a […]
Sri Lanka tourist authority gets new chief
Oct 01, 2012 (LBO) – Bhashwara Senanka Gunarathna, who was a member of the board of Sri Lanka Tourism Development Authority since 2010 has been appointed its chairman the agency said. He is also the chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB). The Tourism Development Authority is a policy making and infrastructure development […]
”: report
Sept 30, 2012 (LBO) – The European Union has protested to Sri Lanka over the re-export of Chinese-made bicycles which have been slapped with protective ‘anti-dumping’ taxes when exported direct, a media report said. Sri Lanka’s The Sunday Times newspaper said a protest was lodged with Sri Lanka’s embassy in Brussels by EU’s Director General […]
Sri Lanka holds international spice food festival
Sept 30, 2012 (LBO) – Sri Lanka is holding a ‘World Spice Food Festival’ in Colombo starting from October 05, featuring country specific foods and competitions, the island’s tourism promotion agency said. A number of top hotels and restaurants in the capital will also participate with master chefs being flown in. Asian cuisine will be […]
SriLankan Airlines to trim Europe flights, focus on Asia, Middle East
Sept 29, 2012 (LBO) – State-run SriLankan airline will trim loss-making flights to recession-hit Europe and focus on profitable routes closer to home, top officials told shareholders, as the airline lost money for the fourth straight year. The emergence of citizen-owned budget airlines in particular had made travel cheaper to ordinary citizens starting from Europe […]
” used to smuggle gold to India: report
Sept 29, 2012 (LBO) – Sri Lankan visitors traveling to India would face tighter baggage checks following the detection of several ‘mules’ who were smuggling gold into India, a media report said. At least 10 out of 13 gold smugglers caught at India’s Chennai airport over the past month are from Sri Lanka, the Times […]
Sri Lanka post war growth potential draws AIA
Sept 28, 2012 (LBO) – Being well positioned to take advantage of Sri Lanka’s post war growth potential helped drive a 109 million US dollar acquisition of Aviva NDB Insurance (ANI) by American International Assurance group, officials said. “After 30 years of war and this is a new beginning for the country so we are […]
Sri Lanka gets ADB help to cut power system losses, start solar trials
Sept 27, 2012 (LBO) – Sri Lanka will get 130 million US dollars in Asian Development Bank financing to cut losses in the power grid, expand supply to former war zones and for pilot rooftop solar panel installations. The regional lender said the financing will help the government reach its target of cutting system losses […]
Sri Lanka Aviva Insurance unit sold to AIA group
Sept 27, 2012 (LBO) – Control of Sri Lanka’s Aviva NDB Insurance is being bought by AIA Group, for 109 million US dollars, with Aviva and with joint venture partner, Colombo based NDB group, exiting. Aviva said 58.44 percent of Aviva NDB Holdings Lanka (Private) Limited, an unlisted firm will be sold to American International […]
Project Launch
Sept 27, 2012 (LBO) – India’s Krrish group, which has interests in alcohol and real estate launched a 460 million US dollar mixed development in Sri Lanka’s capital Colombo and has started marketing apartments, officials said. Krrish chief executive R Guptha said the group said a marketing office has been set up to sell apartments. […]