Category: Industry
Sri Lanka allows private helicopter operations in Colombo
May 22, 2012 (LBO) – Sri Lanka’s Deccan Aviation said it had established a privately run helipad in Colombo city after authorities relaxed rules that prevented civil aircraft approaching within 10 miles of the capital. Deccan Aviation said Sri Lanka’s Civil Aviation Authority and the Ministry of Defence have allowed private operators to establish eight […]
SriLankan Airlines raises US$175mn from Islamic loan
June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines […]
Finance Awards
June 19, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon and Bank of America Merrill Lynch had clinched awards for the best bank and best foreign investment bank for Sri Lanka given by Finance Asia, a financial magazine. It also did a large equity investment banking deal arranging the sale of a stake worth […]
Banking Risks
June 19, 2012 (LBO) – Sri Lanka’s banking industry faces ‘very high’ economic and credit risk and the industry itself faces “very high risk” in its institutional framework amid regulatory conflicts, a rating agency has said. Standard & Poor’s, a rating agency gave Sri Lanka a score of ‘8’ on a scale where the highest […]
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 […]
Sri Lanka recall Kulasekera, Perera for first Test
June 19, 2012 (LBO) – Sri Lanka Cricket have recalled fast bowler Nuwan Kulasekera for the first Test against Pakistan that begins on Friday, a statement said. Selectors led by Asantha de Mel also picked allrounder Jeevan Mendis, left-arm fast bowler Chanaka Welegedara and bowler Nuwan Pradeep for the 15-man squad, Sri Lanka Cricket said […]
Singlish Award
June 18, 2012 (LBO) – A British national living in Sri Lanka who is a part-time teacher and writer has been honored by Queen Elizabeth for his work on ‘Sri Lankan English’ which has its own peculiarities. He is now working on a trilingual learners’ dictionary of colloquial Sinhala, English and Tamil. Michael Meyler has […]
Top Bank
June 18, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the island’s largest commercial bank has topped a trillion rupees (7. 6 billion US dollars) in assets by the end of May 2012, officials said. Chairman Gamini Wickramasinghe said a target for one trillion in assets and ten billion rupees in profits was set […]
‘s Centara with two hotels
June 17, 2012 (LBO) – Thailand’s Centara Hotels and Resorts will open two 4-star hotels in Sri Lanka in the last quarter of 2012 which will be under their management in the island’s South West and East coasts. “These two superb hotels mark our debut in Sri Lanka, a market that we feel holds great […]
Sri Lanka airport gets Emirates premium lounge
June 16, 2012 (LBO) – Dubai’s Emirates Airlines opened a new 200 million rupee premium lounge at Sri Lanka’s main airport, catering to scores of wealthy travellers who use Colombo as a transit hub or as a growing upmarket tourist destination, officials said. International hotel chains like the Sheraton and Shangri-La have signed up to […]
Sri Lanka state airline to double flights to China from July
June 15, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines, is doubling flights to main Chinese cities by July and is eyeing more secondary destinations to capitalize on growing links with the Asian powerhouse, an official said. Sri Lanka’s national flag carrier currently flies over 10 times a week to China, from about three flights […]
Motor Agent
June 16, 2012 (LBO) – Sri Lanka’s listed Colonial Motors Plc, said it had bagged the agency for Japan’s Mazda Motor Corporation. The firm said a deal appointing it as the importer and distributor of Mazda vehicles for Sri Lanka and the Maldives was signed on June 11. Sri Lanka recently hiked taxes on motor […]