Category: Industry
Sri Lanka launches web portal for tourist travel approvals
Sept 30, 2011 (LBO) – Sri Lanka’s electronic tourist travel approval system will be effective from January 01, 2012 with a trial run starting from Saturday, October 01, officials said. An online portal – www.eta.gov.lk – from which to apply for entry permits from Sri Lanka’s department of immigration and emigration was officially launched Friday. […]
Bank Changes
Sept 30, 2011 (LBO) – Sri Lanka’s Sampath Bank said deputy managing director M Y A Perera will take-over as managing director from January 01, 2012, as current managing director Harris Premaratne is leaving. Sri Lanka’s Daily FT newspaper said Premaratne will take over as the head of a new bank started by Sri Lanka’s […]
Domestic Credit
Sept 29, 2011 (LBO) – Sri Lanka will borrow around 500 million US dollars from local banks to pay domestic contractors who will pave national highways and provincial roads with concrete. The Cabinet of ministers has approved a proposal by the Ministry of Highways for the project to repair part of the road network, a […]
SriLankan Airlines plane detained in Paris
Sept 29, 2011 (LBO) – A SriLankan Airlines aircraft was detained at Charles De Gaulle Airport in Paris last Friday after it failed to meet European safety standards, an airline statement said. “Arrangements were also made to assist all passengers to continue their onward journeys on other airlines without much delay,” the airline said. Passengers […]
Parental Support
Sept 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed DFCC Vardhana Bank Limited’s (DVB) National Long-Term Rating at ‘AA-(lka)’ with a stable outlook. The rating agency has also confirmed the bank’s subordinated debentures at ‘A+(lka)’. “The ratings reflect Fitch’s expectation that support would be forthcoming from its parent, DFCC Bank, should it be required,” […]
Capital Base
Sept 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed DFCC Bank’s (DFCC) National Long-Term Rating at ‘AA(lka)’ with a stable outlook. The rating agency has also confirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’, a statement said. “The ratings are driven by DFCC’s strong capitalisation, supported by its sustained solid profitability […]
Look Out
Sept 29, 2011 (LBO) – Sri Lanka’s navy is monitoring merchant shipping movements to guard against the threat of attacks by Somali pirates who have been extending their raids further east into the Indian Ocean. The International Maritime Bureau has warned that pirate attacks might extended even further east towards Sri Lanka. Sri Lanka Ports […]
Sri Lankan Airlines cuts losses
Sept 28, 2011 (LBO) – State-run SriLankan Airlines said it had lost 202 million rupees in the year to March 2011, down from 6.03 billion rupees a year earlier, helped by 3.6 billion rupees in one-off non-operating incomes. “SriLankan will focus on each of its diverse areas of business, with particular emphasis on transforming our […]
Tele Hub
Sept 28, 2011 (LBO) – Sri Lankan mobile operator Dialog Axiata has struck a deal with Singapore’s StarHub mobile firm to offer customized international connectivity solutions to customers. “The partnership is focused on delivering the lowest cost connectivity solutions with strict service levels between Sri Lanka and Singapore using each other’s network,” a statement said […]
Sri Lanka leisure group rebrands hotels, raises rates
Sept 28, 2011 (LBO) – John Keells group has revamped and rebranded two hotels on Sri Lanka’s south coast, sharply raising rates as it lures tourists with leopard and whale watching tours. The group spent about 15.5 million US dollars in revamping the Chaaya Tranz Hikkaduwa beach hotel and the Chaaya Wild Yala game lodge, […]
Sri Lanka promises quick electronic entry nod
Sept 28, 2011 (LBO) – Sri Lanka’s new electronic travel authorization system will approve applications within 24 hours but most applications will be approved in a much shorter time, immigration officials said. The portal www.eta.gov.lk will be opened on September 30 and the new process will be applied after a “reasonable time”, Sri Lanka’s immigration […]
Finance Offer
Sept 28, 2011 (LBO) – An initial public offer by Sri Lanka’s Trade Finance and Investments Limited (TIFL) was over-subscribed on the opening day Wednesday. Corporate Services (Pvt.) Ltd, registrars to the offer, told the Colombo Stock Exchange that the IPO would be closed at 4. 30 p.m. Wednesday. Trade Finance and Investments offered six […]