Category: Industry
SriLankan Airlines flights to Europe on schedule
May 24, 2011 (LBO) – All SriLankan Airlines flights to Europe will depart as scheduled with contingency plans to fly to alternate airports if Iceland’s volcanic ash clouds spread further into Europe, Sri Lanka’s national carrier said. “Passengers to our European destinations London, Frankfurt, Paris, Rome and Milan are advised to call our contact centre […]
Profit Pressure
May 24, 2011 (LBO) – Sri Lanka’s mobile phone industry is ‘overcrowded’ and ripe for consolidation with intensifying competition eroding profitability, Fitch Ratings said in a new report on the telecoms sector. Overcrowding remains the key medium-term risk to telecom operators (telcos) in Sri Lanka, the rating agency said. It expects competition among local telcos […]
Capital Raising
May 24, 2011 (LBO) – Sri Lanka’s Commercial Bank wants to raise 9.7 billion rupees through a rights issue that would be followed by a share split to strengthen its capital base for future growth. The bank said in a stock exchange filing that the issue is subject to regulatory and shareholder approval. It expects […]
Sri Lanka Hayleys wind power plant to start in Sept
May 23, 2011 (LBO) – Sri Lanka’s listed Hayleys group said a wind power plant it is building in the island’s north western coastal town of Kalpitiya will begin commercial operations in September 2011. The 10 MegaWatt wind plant is run by its unit Nirmalapura Wind Power (Private) Ltd. The Kalpitiya peninsula has another wind […]
Finance Growth
May 23, 2011 (LBO) – Sri Lanka’s LB Finance said net profits for the March 2011 grew 83 percent to 391 million rupees from a year earlier, with strong growth in lending during the past year and a steep increase in other income, interim accounts showed. Its government securities portfolio rose modestly to 1.6 billion […]
Fernando fireworks see Lankans tame Lions
DERBY, May 22, 2011 (AFP) – Dilhara Fernando took three wickets for four runs as Sri Lanka completed their preparations for next week’s first Test against England with a morale-boosting 38-run win over the England Lions here on Sunday. Sri Lanka, who’d already beaten Middlesex, won on the fourth and final day after being made […]
Sri Lanka cautious on Pakistan tour
May 23, 2011 (AFP) – Sri Lanka’s cricket officials Monday reacted cautiously to an invitation to tour Pakistan, just two years after players were targeted in a deadly militant ambush in Lahore. The Pakistan Cricket Board announced at the weekend that they had invited Sri Lanka to play three Tests, five one-day internationals and one […]
Ton-up again for Sri Lankan duo as Lions struggle
DERBY, May 21, 2011 (AFP) – Sri Lanka batsmen Tillakaratne Dilshan and Tharanga Paranavitana both scored their second centuries in as many matches as they warmed-up for next week’s first Test in Cardiff by hauling the islanders back into their contest against the second string England Lions. Dilshan (117) and Paranavitana (125), following on from […]
Pakistan urges Sri Lanka tour despite trouble
KARACHI, May 22, 2011 (AFP) – Pakistan have officially invited Sri Lanka to contest a home series in the hope that the two governments can sort out a tour due to start in October, an official said Sunday. Gunmen attacked the Sri Lankan team in March 2009 in Lahore injuring seven Sri Lankan players and […]
Cruise Call
May 22, 2011 (LBO) – India’s first cruise ship, Chennai flagged AMET Majesty will make calls on Sri Lanka’s Colombo and Trincomalee ports when it begins high seas cruises in June, a media report said. India is already the largest generator of tourists to Sri Lanka. Arrivals have boomed since the island introduced visa on […]
Ton-up Morgan, Patel pile on runs against Sri Lanka
LONDON, May 19, 2011 (AFP) – Eoin Morgan and Samit Patel both hit centuries in last-gasp bids to seal Test spots as England Lions piled up 394 for four on the first day of a four-day match against Sri Lanka on Thursday. Morgan made 156 not out with Patel weighing in with an unbeaten 101 […]
SriLankan Airlines gets more fuel efficient aircraft
May 20, 2011 (LBO) – A brand new Airbus A320-200 aircraft delivered to SriLankan Airlines this week as part of its fleet expansion is more fuel efficient and would improve airline performance, the national carrier said. Chief executive Manoj Gunawardena said two more aircraft are expected to be delivered later in the year. “These aircraft […]