Category: Industry
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 […]
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 […]
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 […]
Sri Lanka, US trade, investment can grow: official
June 15, 2012 (LBO) – Trade and investment between Sri Lanka and the United States can grow after the end of 30-year war, as peace brought new opportunities US Trade Representative to South Asia Micheal Delaney said. “My visit here allowed me to follow up on those discussions and to learn more about what the […]
Sri Lanka gem show draws strong Chinese interest
June 15, 2012 (LBO) – Sri Lanka’s annual gem and jewellery show, FACETS to be held in September has already signed up more than 300 foreign buyers with the largest group of 50 dealers coming from China, the exhibition’s organizers said. Ziqufi Ismail, secretary to the Sri Lanka Gem and Jewellery Association said buyers from […]
‘s Laugfs shoppers to get insurance cover from Chartis
June 14, 2012 (LBO) – Sri Lanka’s Laugfs Holdings, which has interests in cooking gas distribution and retailing has tied up with US based Chartis Insurance, to offer accident and disability cover to customers who patronise their supermarkets, officials said. Chartis, a leading property-casualty and general insurance firm serving more than 70 million clients around […]
Roaming Multiple
June 14, 2012 (LBO) – South Asians continue to pay more for their international roaming call charges when they travel within the region, despite a pledge in 2008 by regional heads to trim costs, a think-tank said. A Maldivian roaming in Bangladesh will pay 345 times more for a local call, the study showed. Sri […]
Virtual Wallet
June 13, 2012 (LBO) – Sri Lanka’s Dialog Axiata had launched a mobile payment service through which its 7.5 million customers can send and receive money through a ‘virtual wallet’, officials said. The mobile payment service can be used to pay utility bills or to payments at thousands of shops across the island, Fariq Cader, […]
Oil Exemption
June 12, 2012 (LBO) – Sri Lanka, India, Malaysia, Korea, South Africa, Turkey and Taiwan has been recognized as countries that have significantly cut oil imports from Iran, US secretary of state Hilary Clinton has said. Financial institutions of countries that traded with Iran faced the possibility of being penalized in international trade settlements by […]
Sri Lanka entertainment resort by Indian gaming firm
June 12, 2012 (LBO) – India’s Delta Corp, a Bombay listed gaming firm said it had acquired 11 acres of land in Sri Lanka to build an entertainment resort complex near the island’s main international airport. Earlier Sri Lankan officials said that Delta Corp was also looking to lease an island in Kalpitiya. Update Delta […]