Category: Industry
Sri Lanka May tourist arrivals up 17.5 percent
June 12, 2012 (LBO) – Tourist arrivals to tropical Sri Lanka, surged 17.5 percent in May, over the same month a year earlier, as visitors took advantage of the post-war peace three-years since the ethnic conflict ended. On Monday, the central bank said earnings from tourism arrivals had risen 26.0 percent to 340 million dollars […]
Debt Games
June 11, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has run debts of 65 billion rupees with other state entities by May 31 and talks are on to clear them with a Treasury bond, a minister has said. Petroleum minister Susil Premjayantha has told parliament furnace oil is still being sold to […]
Sri Lankan Airlines to join Oneworld alliance
June 11, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines will join ‘oneworld’ next year with Cathay Pacific taking it through an implementation program as its sponsor, the global alliance of air carriers said. Sri Lanka’s capital Colombo is already served by oneworld members Cathay Pacific and Royal Jordanian, and member designate Malaysia Airlines. SriLankan’s […]
Sri Lanka, Vietnam in move to boost tourism
June 11, 2012 (LBO) – Sri Lanka and Vietnam are planning to boost tourism between the two countries after a visit by Vietnamese travel firms to Colombo which will be followed by a familiarization tour by Sri Lankan travel agents, officials said. Udaya Silva, Sri Lanka’s IATA travel agents association said he expected mutually beneficial […]
Credit Trends
June 11, 2012 (LBO) – Loans to private borrowers from commercial banks collapsed to just 18. 7 billion rupees in April 2012, from 55 billion rupees a month earlier, the lowest since June 2010, amid heavy state borrowing, official data showed. Loans to private borrowers from banks rose 34 percent from a year earlier to […]
Sri Lanka tourism urges Europeans to ignore bad media reports
June 10, 2012 (LBO) – Sri Lanka’s tourism chief is urging European businessmen to ignore negative media reports in their home countries that highlight the island’s human rights record and may lose them investment opportunities. The Indian Ocean Island is experiencing a boom in tourists and leisure industry related-developments, three-years after government forces ended the […]
Sri Lanka Cricket signs in new sponsors
June 09, 2012 (LBO) – Reebok, Pepsi, Elephant House and Jetwing Hotels have joined the list of new commercial partners to sponsor the Sri Lanka Cricket team, a statement said. The three-year contract was announced on Saturday, following a competitive bidding process earlier this year, Sri Lanka Cricket said. Reebok India, secured the official clothing […]
Sri Lanka flights by Thai AirAsia slashed
June 09, 2012 (LBO) – Thai AirAsia (TAA) has cut its newly launched flights to Sri Lanka to three a week from June following lower than expected demand on the Colombo Bangkok route, a media report said. But Sri Lanka is now attracting more tourists after the end of a 30-year war. TAA chief executive […]
Sri Lanka Janashakthi in bancassurance deal
June 08, 2012 (LBO) – Sri Lanka’s Janashakthi Insurance Plc, has inked a deal with Commercial Bank of Ceylon to sell insurance products, to its customers. “This strategic tie-up will enable Commercial Bank’s retail and corporate clients access to Janashakthi policies across all Commercial Bank branches,” Janashakthi said in a statement. Commercial Bank has 218 […]
Sri Lanka luxury hotel rides internet market
June 8, 2012 (LBO) – Sri Lanka’s The Fortress Resort and Spa, a luxury hotel, said it is making a strong push into internet marketing, striking partnership with online travel agencies, with global internet bookings now overtaking those from traditional agents. Chief executive Sumith Adjihetty said the hotel has struck deals with online travel agencies […]
Tele Trend
June 07, 2012 (LBO) – Sri Lanka’s mobile subscribers grew in single digits in the first quarter of 2012 from a year earlier and wireless fixed access users dropped from a quarter earlier, two years after telephones in use first exceeded the population. Wireline use picked up after Sri Lanka Telecom started to promote broadband. […]
Slowing Journey
June 07, 2012 (LBO) – Sri Lanka’s motor car registrations fell 16.1 percent in the first quarter of 2012 to 12,496, with a steeper 23.3 percent fall to 4,246 in the month of March, official data show. Interest rates on leases, which are used to buy cars, had gone up steadily since the last quarter […]