Category: Industry
Sri Lanka Lankem buys boutique hotel
Nov 23, 2011 (LBO) – Lankem Ceylon said it bought control of Galle Fort Hotel, a boutique hotel in Sri Lankan’s southern port town of Galle, for 772 million rupees. Sri Lanka is experiencing a boom in tourism with the end of the island’s 30-year ethnic war in 2009. The acquisition of 100 percent of […]
Lease Trend
Nov 23, 2011 (LBO) – People’s Leasing Co., Sri Lanka’s largest leasing company, said September 30, 2011 quarter net profit rose 65 percent to 790 million rupees helped by gains from vehicle sales and Islamic finance and lower provisioning. Earnings per share rose 73 percent to 64 cents in the quarter from 37 cents a […]
Telecom Levy
Nov 22, 2011 (LBO) – Sri Lanka has raised a levy on international calls with each outgoing minute charged 3 rupees from the current 2 rupees, a budget for 2012 presented to parliament said. Incoming calls will be charged 9 US cents per minute, up from the current rates of 7 US cents. The state […]
Live Trading
Nov 22, 2011 (LBO) – Millennium Information Technologies, a unit of London Stock Exchange that was founded in Sri Lanka said its software has gone lived at Bangladesh’s Chittagong Stock Exchange. The system was implemented by Polaris India. Installation, trials and final implementation had taken nine months. MillenniumIT chief Tony Weerasinghe said the systems will […]
Sri Lanka hotel planned by China Harbour: report
Nov 22, 2011 (LBO) – China Harbour Engineering Company (CHEC) a firm active in several Chinese financed project in Sri Lanka is looking to build a hotel in Hambatota in the south of the island, a media report said. Sri Lanka’s Ceylon Today newspaper said CHEC had also looked at lakefront land in Colombo. “They […]
Vietnam welcomes Sri Lankan businesses
HANOI, Nov 21 (AsiaPulse) – The Vietnamese Government will create the possible best conditions for Sri Lankan and Vietnamese businesses to approach investment and trade opportunities. State President Truong Tan Sang made this affirmation at a reception for Asoka Hettigoda, President of the National Chamber of Commerce of Sri Lanka, in Hanoi. He said he […]
‘l flights
CANBERRA, Nov 21 (AsiaPulse) – Australian international air passengers will soon no longer be banned from carrying liquids in their carry-on luggage. The federal government has announced that new advanced explosive detection equipment will be installed at Australia’s international airports by 2013. Currently, Australians booked on flights overseas are not permitted to carry any containers […]
Sri Lanka to cut taxes on vehicles for tourism
Nov 21, 2011 (LBO) – Buses imported for tourism will be freed from value added tax and duties on vehicles imported for airport taxi services will be halved, President Mahinda Rajapaksa told parliament. Tourism is one of the most profitable sectors after a war ended in May 2009. Presenting the 2012 budget, Rajapaksa said airport […]
Mortgage Profits
Nov 20, 2011 (LBO) – Profits at Sri Lanka’s HDBC Bank, a mortgage lender fell 52 percent to 8. 1 million rupees in the September 2011 quarter from a year earlier, despite better margins, due to lower fee income, interim accounts showed. The firm reported earnings of 1.27 rupees per share for the quarter. It […]
Finance Growth
Nov 19, 2011 (LBO) – Profits at Sri Lanka’s Vallibel Finance, rose 157 percent to 60.1 million rupees in the September 2011 quarter from a year earlier, helped by strong loan growth and other income, interim accounts showed. Lost loss provisions rose 42 percent to 2.8 million rupees. Other income rose 195 percent to 25. […]
” for Aussies as South Africa collapse
JOHANNESBURG, November 17, 2011 (AFP) – Teenage debutant Pat Cummins celebrated a “brilliant day” after Australia sent South Africa tumbling to 266 all out on the first day of the second and final Test at the Wanderers on Thursday. Cummins only took one wicket but generated impressive pace after becoming the second youngest Australian to […]
Sri Lanka eastern villages lit up by China
Nov 18, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board will light up 268 villages in the former war zones in the island’s East with Chinese funding, a senior minister said. The expansion will cover villages in Batticaloa and Trincomalee which emerged from a 30 year war. The project will have a domestic finance […]