Category: Industry
Sri Lanka national carrier boosts fleet
May 04, 2011 (LBO) – SriLankan Airlines, the island’s state-run national carrier is boosting its short haul fleet to more closely fit the needs of its regional routes, with four new Airbus A320 aircraft ordered on operating leases, an official said. “There is an imbalance in the requirement for narrow body aircraft,” chief executive officer […]
Telecom Gateway
May 04, 2011 (LBO) – TATA Communications’ Sri Lanka unit has commissioned its second international gateway in Sri Lanka improving reliability and providing back-up services to clients. œThis will enable our customers to offer higher uptime and better service levels to their end customers, thereby becoming more competitive in the international business environment, said V […]
Health Strategy
May 04, 2011 (LBO) – Sri Lanka’s state is “passionate and committed” towards Lanka Hospitals Corporation, a listed fee levying hospital which came under its control, a top official has said. “¦I must take this opportunity to reiterate that the Government of Sri Lanka remains passionate and committed towards its stake in The Lanka Hospital […]
Sri Lanka stock market seen as funding option for hotels
May 04, 2011 (LBO) – Sri Lanka’s hotels, enjoying a boom after the end of a war, can seek expansion funds from the stock market, with banks having difficult history of lending to the sector, a report said. However, unlisted firms which form the bulk of the hotels, may face difficulties in using the stock […]
‘s Tillakaratne to take fix claims to ICC
May 3, 2011 (AFP) – Former Sri Lanka captain Hashan Tillakaratne said on Tuesday he was ready to share information on alleged match-fixing with the International Cricket Council, the game’s world governing body. Tillakaratne, now an opposition politician, said he will name those involved in match-fixing to ICC officials, after he claimed last week that […]
Sri Lanka low general insurance rates may end
May 3, 2011 (LBO) – Sri Lanka’s insurers who have been competing aggressively on price despite making underwriting losses, may be forced to re-think their strategy, if investment income falls amid lower interest rates, an industry official said. Sri Lanka’s general insurance businesses have been making underwriting losses, but bottom lines have been propped up […]
Outsource Option
May 03, 2011 (LBO) – India’s Firstsource Solutions is to invest a million dollars to take a 74 percent stake in Sri Lankan celco Dialog Axiata’s business process outsourcing subsidiary in a joint venture deal. The unit, Dialog Business Services, recently started by Dialog, will be renamed Firstsource-Dialog Solutions with an existing staff of 417. […]
‘s Akquasun
May 03, 2011 (LBO) – Sri Lanka’s Expolanka Holdings and Akquasun Group based in Mumbai have formed a joint venture called Akquasun Lanka to focus on attracting tourists from emerging markets like India, Russia and China. Expolanka Holdings, a diversified conglomerate with interests in transportation, manufacturing, international trading and strategic investments, plans to raise 2. […]
Road Upgrade
May 03, 2011 (LBO) – Sri Lanka is receiving 100 million US dollars to maintain an upgrade a 134 kilometre road connecting the island’s East to the Western side and also improve safety and sustainable maintenance. The 100 million dollar credit will be used to upgrade the ‘A6’ road from Ambepussa to Dambulla and Kantale […]
‘s Sangakkara questions Tillakaratne fix claims
NEW DELHI, May 2, 2011 (AFP) – Sri Lanka’s World Cup captain Kumar Sangakkara has challenged former skipper Hashan Tillakaratne to prove his recent allegations of rampant match-fixing, a report said Monday. “Hashan has played the game for years and he’s captained Sri Lanka as well. So it’s interesting to see what he has to […]
Sri Lanka HNB Assurance March net up 23-pct
May 02, 2011 (LBO) – Sri Lanka’s HNB Assurance’s profits in the March 2011 quarter rose 23 percent to 24. 7 million rupees from a year earlier and gross written premium rose 27 percent to 684 million rupees interim accounts showed. The firm paid 198 million rupees in net claims and benefits net. The firm […]
Sri Lanka hotel profit margins on the rise: report
May 01, 2011 (LBO) – Profit margins of Sri Lanka’s tourist hotels are widening with an influx of arrivals and rising room rates after the end of its 30-year ethnic war, a report said. RAM Ratings also noted that despite the recent rate hikes, Sri Lankan hotel rates are still lower than those of the […]