Category: Industry
Sri Lankan air cargo goes electronic
May 20, 2011 (LBO) – Sri Lanka’s national carrier SriLankan Airlines has introduced electronic cargo booking and scanning facilities at the main international airport in Katunayake. Its cargo arm, SriLankan Cargo, is modernising its cargo centre at the international airport north of Colombo to improve operational efficiency and strengthening Colombo’s position as an air cargo […]
Secret Shoot
May 19, 2011 (AFP) – Under a cloak of secrecy, the first film adaptation of controversial author Salman Rushdie’s celebrated novel “Midnight’s Children” has finished shooting in Sri Lanka. Canadian director Deepa Mehta chose the South Asian island as a location instead of India or Pakistan, where the book is set, to avoid problems with […]
Sri Lanka seen more expensive than rival tourist destinations
May 19, 2011 (LBO) – Sri Lanka appears to be priced at the top tier in hotel room rates compared to its regional rivals, a new report on the industry by Capital Alliance said. “However, there are a few key concerns that the industry should overcome to fully reap the benefits of the tourism boom. […]
‘s Galadari Hotel to convert debt into equity
May 19, 2011 (LBO) – Sri Lanka’s heavily indebted Galadari Hotel plans to convert debt into equity in an effort to take advantage of the tourism boom after the end of the island’s ethnic war. A stock exchange filing said the hotel will convert into shares 5. 75 billion rupees (52 million US dollars) owed […]
Travel industry looks to China, India, Brazil for boom
LAS VEGAS, May 18, 2011 (AFP) – China, India and Brazil are poised to fuel an explosion in international tourism in the coming years, showering money and jobs on countries ready for it, and trouble for those that aren’t, industry leaders say. With an estimated two billion new middle class consumers expected to come into […]
Sri Lanka win England tour opener
LONDON, May 16, 2011 (AFP) – Sri Lanka enjoyed a successful warm-up ahead of their Test series against England with a four-wicket win over Middlesex on the third and final day of their tour opener at Uxbridge on Monday. Several batsmen spent time in the middle, Thilan Samaraweera leading the way with 49, as Sri […]
Stumbling Block
May 17, 2011 (LBO) – Sri Lankan celcos are showing signs of recovering from cut throat competition and soaring inflation a few years ago, but experts say the recovery is short lived as the sector has already hit its next stumbling block. Shorter life spans in emerging technologies and ill advised expansion plans are the […]
Health Business
May 16, 2011 (LBO) – Lanka Hospitals, formerly part of the Indian Apollo chain and now par-owned by India’s Fortis group, said March 2011 quarter net profit rose 81 percent to 65.2 million rupees from a year ago. The Lanka Hospitals Corporation said in a stock exchange filing sales for the quarter rose 31 percent […]
Easier Borrowing
May 16, 2011 (LBO) – Sri Lankan banks will soon be able to lend against moveable property with a new initiative by the Credit Information Bureau (CRIB), an official said. The CRIB plans to set up a ‘secured transaction registry’ from June 01, 2011 that will enable registration of moveable assets against which banks can […]
Bank Numbers
May 16, 2011 (LBO) – Sri Lanka’s National Development Bank group said March 2011 quarter net profit doubled to 605 million rupees from a year ago as lending and deposits grew and it contained bad loans. Interest income fell two percent to 2.5 billion rupees while interest expenses fell four percent to 1.4 billion rupees […]
Box Trends
May 16, 2011 (LBO) – Container cargo at Sri Lanka’s main port of Colombo, south Asia transhipment hub, rose in the first quarter of this year indicating continued growth in regional and domestic trade. Ship traffic at Colombo port rose eight percent to 376 in March 2011 from a year and grew 4.3 percent to […]
‘s Murali confirmed to play in New Zealand
WELLINGTON, May 13, 2011 (AFP) – Sri Lankan spin king Muttiah Muralitharan is to play in New Zealand’s domestic Twenty20 competition next season after a deal was confirmed with the Wellington Firebirds on Friday. Muralitharan, who holds the records for the most wickets in Tests and one-day internationals, is honouring a commitment made to former […]