Category: Industry
Sri Lanka Arpico Insurance taps life
Jan 12, 2011 (LBO) – Sri Lanka’s Arpico Insurance, a start-up insurer, is planning to capitalize on the island’s relatively untapped life sector which is less competitive than general insurance, officials said. Richard Pieris was also planning to expand its financial services sector by moving into leasing and finance, officials said. It was already involved […]
Executive Churn
Jan 12, 2012 (LBO) – Sri Lankan mobile phone operator Dialog Axiata has appointed as its new Group Chief Marketing Officer Amali Nanayakkara, former chief executive of its rival Airtel Lanka. Nanayakkara, who will take up office in February 2012, is a marketing professional with over 20 years of experience in senior management postings in […]
Mobile Awareness
Jan 12, 2012 (LBO) – Sri Lankan mobile phone users showed the highest awareness of the use of the instrument to access health services, according to a new study of countries in the Asian region. “Operators need to target current Internet users and more educated within the BOP segment,” the study said. “The key benefit […]
Elevated
Jan 12, 2012 (LBO) – Sri Lanka will build three elevated highways to ease traffic congestion in the capital Colombo connecting two central locations with expressways out of the city, a minister said. Information minister Keheliya Rambukwelle said Egis Bceom International of France will carry out a feasibility study and prepare outline designs for the […]
Logistics
Jan 12, 2011 (LBO) – Sri Lanka’s Maxim Holdings (Pvt) Ltd, will build a 700 million rupee warehouse complex with a packing plant for its own use and for lease to other tea exporters, an official said. The firm, connected Sri Lanka’s Moslanka Investment (Pvt) Ltd, will build a 70,000 square feet warehouse complex in […]
Port Saga
Jan 11, 2012 (LBO) – China Merchant Holdings (International), and state-run Sri Lanka Ports Authority may buy parts of a 30 percent stake in a container terminal project at Colombo port held by private listed Aitken Spence, a media report said. China Merchants is already the dominant partner a 55 percent stake and the SLPA […]
Sri Lanka expressway has upped hotel occupancy: minister
Jan 11, 2012 (LBO) – Occupancy at hotels in the southern part of Sri Lanka had increased after a new expressway cut travel time to the area, deputy economic development minister Lakshman Abeywardene said. The expressway cut travel time to Galle from the capital Colombo to less than one hour from over three hours by […]
Sri Lanka gets US2bn in tourism project proposals: minister
Jan 11, 2012 (LBO) – Sri Lanka has received 210 applications worth two billion dollars for new tourism projects in 2011 as the sector became a target for investors after the end of a 30-year war, a minister said. In 2012, the industry will add another 2,500 rooms, he said. Deputy economic development minister Lakshman […]
Rough Waters
Jan 11, 2012 (LBO) – Sri Lanka’s Aitken Spence, may be forced to pullout from a container terminal project in Colombo after financing from a Chinese bank fell through, requiring additional financing from consortium partners, sources said. The new commitment would have been a further 130 million US dollars, which was beyond the capacity of […]
Tower Tale
Jan 10, 2012 (LBO) – Sri Lanka’s telecommunications regulator has drawn up a new policy that will regulate construction and use of transmission towers by mobile phone companies and radio and television stations. A national policy on telecommunications transmission towers was required with growing competition among mobile phone providers who have put up their own […]
Healthy Profile
Jan 10, 2012 (LBO) – RAM Ratings Lanka has assigned long- and short-term corporate credit ratings of A+ and P1 to Lanka Hospitals Corporation with the long-term rating having a stable outlook. “The ratings are upheld by the hospital™s strong financial profile, liquidity, ongoing state support and the positive outlook for the private healthcare industry,” […]
Fast Links
Jan 09, 2012 (LBO) – Sri Lanka’s fast-growing information communications technology (ICT) industry is seeking lower tariffs on high-speed communications links the cost of which is still too high, officials said. “We have proposed that they have preferential tariffs for export industries.” Export earnings from the sector, which has 175 firms employing 16,000 people, are […]