Category: Industry
Investment Wave
June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said. Expanding Investor Mix Wickrama said foreign investors should also look at Sri Lanka, for its close […]
Full Ahead
June 6, 2012 (LBO) – Vehicle transshipment from Sri Lanka is getting underway, with Asia’s second largest automaking group starting to use a new port in the south of the island, where up to four vessels are expected to call each month. On June 17, another Hyundai Glovis car carrier, ‘Asian Legend’ will come to […]
Mobile Trends
June 05, 2012 (LBO) – Mobile phone makers have shipped over two million units to Sri Lanka with a market value of 22. 4 billion rupees in 2011 with Nokia having a 46 percent share, a market research firm based in India has said. CyberMedia Research (CMR), a computer and electronic market research firm said […]
Vehicle Moves
June 04, 2012 (LBO) – Sri Lanka’s state run ports agency said it was eying more international vehicles transshipment business with a new port in Hambantota to start berthing roll-on roll-off car carriers from the first week of June. On June 05, the vessel N4K Ericia will arrive from Japan with 15 vehicles for transshipment […]
Sri Lanka airport agency to call proposals for BOT hotel: report
June 03, 2012 (LBO) – Sri Lanka is to call proposals for a luxury hotel near the island’s Bandaranaike International Airport, north of the capital Colombo, to be constructed on a build-operate-transfer (BOT) basis, a media report said. The airport agency is scrambling to expand capacity at Katunayake after aircraft and passenger movements zoomed following […]
Ship Arrest
June 03, 2012 (LBO) – The fate of an ageing ship owned by Sri Lanka’s state-run Ceylon Shipping Corporation will be decided by a court in Durban, following its arrest by maritime authorities in South Africa, a media report said. The newspaper said ITF officials alleged that there were questions about the safety and seaworthiness […]
Broader Horizon
June 02, 2012 (LBO) – Sri Lanka Financial Services Bureau, an interbank connectivity service provider, is scouting for telecommunication opportunities in South Asian banks, a company official said. “We did a testing to provide offshore connectivity with a local bank branch in Bangladesh and it was successful,” Rajaratne said. “Sri Lanka has some of the […]
Diverse Gains
June 02, 2012 (LBO) – Sri Lanka’s LOLC group, which has interest ranging from financial services, property, leisure and plantations, posted net profits in the March 2012 quarter rose 232 percent to 1. 99 billion rupees, helped by strong other income and fair value gains. Leisure made 2.3 billion rupees helped by 2.8 billion rupees […]
‘s Tiger Airways
June 01, 2012 (LBO) – Tiger Airways, has started flying to Sri Lanka three times a week with the first flight touching down Colombo at 2205 on May 31, the Singapore-based budget carrier said. Tiger Airways operates the service to Colombo three times a week on Tuesday, Thursday and Sunday. “Singapore is now a hop […]
Finance Loss
June 01, 2012 (LBO) – Sri Lanka’s The Finance Company Plc, which is under regulatory restructure lost 212 million rupees in the March 2012 quarter, sharply lower than the 2.0 billion it lost a year earlier. The firm reported losses of 1.33 rupees per share for the quarter. In the full year to March 2012 […]
Sri Lanka to pitch for international sporting event
May 31, 2012 (LBO) – Sri Lanka plans to bid for another international sporting event shortly, an official said, months after spending hundreds of millions of rupees on a failed bid to win the 2018 Commonwealth Games. Vipuala Wanigasekera, Sri Lanka Tourism’s acting director general declined to specify the games, but said the bidding documents […]
Auto Profits
May 30, 2012 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company Plc, which has agencies for Mercedes Benz and Tata, said profits fell 36 percent to 427 million rupees in the March 2012 quarter. The firm reported earnings of 48. 14 rupees for the quarter. The closed at 590 rupees up 18. 70 Thursday. […]