Category: Industry
KLM sees passenger traffic rise in March
Apr 10, 2012 (LBO) – KLM group said passenger traffic increased 6.8 percent in March with load factor rising 3.8 percent to 82.5 percent with gains in Americas, Europe, Middle East and Asia, though cargo business fell. The airline said cargo traffic dropped 3.4 percent and load factor fell 2 percent to 69.2 percent. Traffic […]
Rolling Loss
April 10, 2012 (LBO) – Losses at Sri Lanka’s state-run railway rose in 2011 despite the acquisition of more rolling stock and increased carriage of passengers and goods, the central bank said. At present, SLR’s contribution to passenger and freight transportation remains as low as five percent and one percent, the central bank said. “In […]
Oil Storage
April 09, 2012 (LBO) – Indian Oil Corp. ‘s Sri Lanka unit plans to invest about 35 million US dollars to expand an oil tank farm in the eastern port of Trincomalee to store and export products, an official said. Since taking over operations of the China Bay tank farm ten years ago in 2002, […]
‘s Citrus Leisure beach property ownership disputed
April 09, 2012 (LBO) – The ownership of a prime beach front property the listed Citrus Leisure bought on Sri Lanka’s east coast for 169 million rupees is now being disputed in court. The newspaper said the land, owned by two Swiss nationals, had been illegally sold by a local party to other local parties […]
Sri Lanka Browns to build Rs1.75bn hotel
April 09, 2012 (LBO) – Sri Lanka’s Browns Investments is to build a 150-roomed hotel on the south coast at an estimated cost of 1.75 billion rupees and scheduled to be completed by 2013 amid a tourism boom. The firm is to build a four-star hotel with 150 rooms in Kosgoda as it has decided […]
Sri Lanka and Vietnam can boost trade with fast track measures: officials
April 08, 2012 (LBO) – Sri Lanka and Vietnam can boost bi-lateral trade by opening trade with a few items, and promoting interaction by reciprocal arrangements to participate in trade fairs, officials said. “Trade is 180 percent of gross domestic product, making Vietnam one of the most open countries in the world,” Truong said. “The […]
Sri Lanka state airline pays US$7.7mn in rental
Apr 07, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines is paying 7. 7 million US dollar a month to lease 21 aircraft, a media report quoting a parliamentary filing said. The Island newspaper said quoting a document tabled by civil aviation minister Piyankara Jayaratne said Mihin Lanka, a loss-making budget carrier is also pays […]
Sri Lanka state airline flights not axed
Apr 06, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines said it will continue to operate European routes, two of which were earlier to be axed during off-peak periods. SriLankan Airlines officials had earlier said that it wanted to prune European long haul flights and re-deploy equipment on more lucrative Asian routes to improve the […]
Business Tool
April 06, BANGKOK (LBO) – Use of mobile phones has grown rapidly among the poor in Sri Lanka, becoming almost an indispensable business tool among small entrepreneurs and farmers, according to a new study. Computer use at the ‘BOP’ level was low overall as was internet use but mobile phones emerged as almost ubiquitous. “Probably […]
Sri Lanka airport lounge opened by Emirates
Apr 05, 2012 (LBO) – Dubai-based Emirates had built 200 million rupee lounge for its first and business class passengers, at Sri Lanka’s Bandaranaike International Airport, near the capital Colombo, the airline said. “Emirates is one of the most active carriers serving Colombo, with 28 flights a week,” Chandana de Silva, area manager for Sri […]
Sri Lanka to make Dutch Fort admin office a tourist attraction
Apr 05, 2012 (LBO) – An government administration building inside a 17th century Dutch Fort in Sri Lanka’s south will be turned into a museum and part of its will be commercially developed as a tourist attraction, a minister said. The Galle Dutch Fort is a UNESCO world heritage site. The cabinet of ministers had […]
Sri Lanka state carrier axes flights to Zurich, Rome
Apr 04, 2012 (LBO) – State-run SriLankan Airlines said it will cancel flights to Zurich and Rome in May and June which are off-peak months but will resume them from late June, to contain costs. SriLankan is focusing more on Asian routes amid heavy competition and weak conditions in Europe. The airline is expected to […]