Category: Industry
Sri Lanka tourism receipts up 25-pct to May
June 23, 2012 (LBO) – Sri Lanka has earned 399. 3 million US dollars from tourism in the first five months of 2012, up 25. 5 percent from the 318.1 million US dollars earned a year earlier, official data showed. Tourist arrivals rose 18.2 percent to 387.622 in the same period. Sri Lanka’s tourist sector […]
‘s NDB Bank undecided on Aviva unit: official
June 22, 2012(LBO) – Sri Lanka’s NDB Bank Plc, has not a made a decision to buyout their partner or exit a joint venture insurance unit with Britain’s Aviva, which reports said is on the block as part of a retreat from Asian markets. NDB Group’s Chief Executive, Russell de Mel said if Aviva’s stake […]
Next Wave
June 22, 2012 (LBO) – Sri Lanka’s banks have to be ready to finance infrastructure when the state is expected to woo private capital into toll roads and ports in the next few years, an investment banker said. Several foreign firms have made proposals. The government is already tapping commercial banks for infrastructure finance through […]
Sri Lanka Cricket seeks new clothing partner after Reebok deal falls through
June 22, 2012 (LBO) – Sri Lanka Cricket has sought a new clothing partner, after India’s Rebook failed to renew the contract when the tender was awarded this month, a statement said. The governing body this month announced multi-million rupee contracts for clothing, soft drinks, energy drinks and food to a number of Sri Lankan […]
Sri Lanka Vietnam trade up 80-pct in first quarter
June 21, 2012 (LBO) – Trade between Sri Lanka and Vietnam had expanded 81 percent to 27. 6 million US dollars in the first quarter of 2012 from a year earlier, with a steep increase in Sri Lankan exports, a business association said. Mahesha Ranasoma, managing director, Dipped Products Plc was elected president of the […]
Conflict Debate
June 21, 2012 (LBO) – Sri Lanka’s Central Bank has denied that there was a regulatory conflict where a fund under its control bought bank stocks it regulated, following concerns raised by Standard and Poor’s, a rating agency. S & P said there were regulatory conflicts because the Monetary Board or the governing body of […]
Bank Soundness
June 21, 2012 (LBO) – Sri Lanka’s banking sector did not face high risks as assessed by Standard & Poor’s, the island’s Central Bank said in a detailed response to the rating agency’s ranking of Sri Lanka as a high risk economy for banks. The Central Bank said S & P’s statement was “is factually […]
Sri Lanka thermal power generation up
June 20, 2012 (LBO) – Sri Lanka’s thermal power generation had picked up sharply in the first quarter of 2012 with total generation up 8.8 percent from a year earlier while hydro generation fell steeply, official data shows. Total generation rose 8.8 percent to 2,956 GigaWatt hours (millions of units) indicating strong demand in the […]
” apparel plants in former war-zone
June 20, 2012 (LBO) – Sri Lanka’s Timex and Fergasam group, will begin construction of two energy efficient ‘green’ apparel factories in the northeastern Mannar region this month, the state investment promotion agency said. “Sri Lanka has the advantage of having high environmental standards. Already a number of companies that operate under the BOI regime […]
’s Faithful
June 20, 2012 (LBO) – Sri Lanka’s amateur radio operators have renewed their call to be included in communication work during national disasters, after the defence authorities relaxed rules on clearing equipment. “When everything goes down, short wave remains alive,” an enthusiastic Goonetilleke said. Their valuable role was acknowledged by the late Sir Arthur C […]
Full Service
June 20, 2012 (LBO) – Sri Lanka’s Logiventures, a unit of conglomerate Hayleys PLC, is expanding its fleet of car carriers to meet the growing demand to transport vehicles being cleared from the southern port of Hambantota. Logiventures is also investing in a vehicle transit facility close to the Hambantota port, to facilitate clearing, inspection […]
Sri Lanka hosts India for one-day, Twenty20 cricket series in July
June 19, 2012 (LBO) – Sri Lanka will host neighbouring India for a one-day series and a Twenty20 cricket match from July, the island’s governing body said. The teams will play five one-day games across in Hambantota, Colombo and Pallekelle. The sole T20 game will be played at Pallekele, Sri Lanka Cricket said Tuesday. The […]