Category: Industry
Wider Margins
Dec 29, 2010 (LBO) – Fitch Ratings has confirmed the National Long-term rating of Sri Lanka’s Housing Development Finance Corporation Bank (HDFC) at ‘BBB+(lka)’ with a stable outlook, a statement said. The rating agency has also confirmed the ‘BBB+(lka)’ rating on the bank’s outstanding 195 million rupee senior unsecured redeemable debentures. “HDFC’s ratings reflect its […]
Trade Links
Dec 29, 2010 (LBO) – India is helping Sri Lanka to revive commercial operations at a port and airport in the island’s north to re-establish regional trade and communications links, a statement said. The High Commission of India said Defence Secretary of India, Pradeep Kumar, had discussed the projects during a three-day visit to Sri […]
Heavy Lift
Dec 29, 2010 (LBO) – Sri Lankan logistics firm FPS Lanka is considering setting up offices in the new southern port of Hambantota and in eastern Trincomalee harbour to handle an anticipated influx of cargo flows for post-war reconstruction. It expects new logistics contracts to be awarded in the first quarter of 2011 as projects […]
SriLankan Airlines wins award for campaign that improved sales
Dec 29, 2010 (LBO) – SriLankan Airlines won the ‘Travel & Tourism’ category at the island’s recent Effie Awards for its ˜Hotseats’ marketing campaign that led to better sales, a statement said. SriLankan received a Bronze for the campaign, which was produced by the ad agency Grant McCann Erickson. It was the highest award presented […]
Sri Lanka Hotel Reefcomber in deal to build resort
Dec 28, 2010 (LBO) – Sri Lanka’s Hotel Reefcomber has struck a deal to build a four-star beach resort with water-front villas, a stock exchange filing said. Hotel Reefcomber has finalised the purchase of land called ‘Santhoduwa’ at Santhoduwa village in Akkaraipatu within the secretariat division and pradeshiya sabha (local council) limits of Kalpitiya, it […]
Sri Lanka to get 7-star Shangri-La hotel
Dec 28, 2010 (LBO) – Hong Kong-based leisure group Shangri-La has signed a deal to acquire land to build a seven-star hotel in the Sri Lankan capital Colombo, the chairman of the tourism authority Nalaka Godahewa said. Shangri-La signed the agreement Tuesday to acquire 10 acres of government property near the Galle Face green promenade, […]
Sri Lanka east coast to get luxury hotel
Dec 28, 2010 (LBO) – Sri Lanka’s Esna Holdings, a consultancy and advisory services firm, plans to set up a luxury beach resort in Nilaveli, a prime beach front on the island’s east coast, a statement said. Sri Lanka has seen an influx of tourists after the end of its 30-year ethnic war in May […]
Suspended
Dec 28, 2010 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has suspended its chief executive officer for alleged misconduct, the bank said in a stock exchange filing. MBSL shares were trading at 47.40 rupees each, up 1.10, in mid-morning trade. MBSL’s board of directors had decided to suspend the services of its chief […]
Peak Cheats
Dec 27, 2010 (LBO) – Fixed broadband service providers in Sri Lanka have been providing download speeds far below advertised rates at peak times especially from international domains, the telecommunications regulator has said. The TRC also said most commercial institutions in Sri Lanka prefer to use broadband services for commercial activities instead of using internet […]
Speed Test
Dec 27, 2010 (LBO) – Sri Lankan broadband users will soon be able to test their download speeds with the proposed introduction of a testing facility, the Telecommunications Regulatory Commission said in a statement. The TRC has just published the results of tests on fixed broadband download speeds that found speeds were far below those […]
Spreading Virus
December 27, 2010 (AFP) – Swine flu in Sri Lanka has killed 22 people and infected more than 300 over the past two months, the island’s health ministry said Monday. Official figures showed that 22 people infected with H1N1 — swine flu — had died since October 25 while 342 cases were reported during this […]
Transport Demand
Dec 27, 2010 (LBO) – The number of vehicles imported by Sri Lanka continues to surge after a sharp import duty reduction, with new registrations up 74 percent to 284,991 in January – October 2010 from a year ago, latest data shows. The number of trucks and other transport vehicles imported have risen by 57 […]