Category: Industry
Sri Lanka Senok group to start chopper service
Jan 13, 2010 (LBO) – Sri Lanka’s Senok group of companies has been given the nod to start a domestic helicopter service, a top official said as the country recovers from the end of a long drawn out war and tourism is taking off. Director general of Sri Lanka’s civil aviation authority H M C […]
Sri Lanka tourist arrivals up 46.1-pct in 2010
Jan 12, 2011 (LBO) – Sri Lanka’s tourist arrivals in December 2010 rose 48. 8 percent to 84,627 from a year earlier, driven by sharp increases from traditional European markets seen due to the winter season, official data showed. Tourists from Denmark, Finland and Sweden saw increases of over one hundred percent during the month. […]
Unsung Aussie lands $900,000 IPL auction bid
BANGALORE, January 9, 2011 (AFP) – Little-known Australian Daniel Christian was the surprise highest earner at the final day of cricket’s Indian Premier League auction on Sunday, bought for $900,000 by the Deccan Chargers. The all-rounder, who had a reserve price of $50,000, has played just three Twenty20 internationals but performed well recently in domestic […]
BPO Thrust
Jan 10, 2010 (LBO) – Sri Lanka Hayleys group said its outsourcing division had hired a top executive from WNS, a New York listed business processing outsourcing group to head the unit which offers accounting and finance services business. Arul Sivagananathan will take over as managing director of the Hayleys BPO unit from this month, […]
Asset Value
Jan 10, 2011 (LBO) – The Finance Company, is looking to raise 1.6 billion rupees of fresh capital is expecting to return to profits by March 2012 helped by lower interest rates and an improving land market, a senior official said. “Interest rates in Sri Lanka dropped and almost came to a single digit and […]
Sri Lanka goes for variety and experience for World Cup
January 8, 2011 (AFP) – Sri Lanka’s cricket selectors opted for a blend of variety and experience when naming the final 15-man squad for the 2011 World Cup that runs from February to April, officials said Saturday. “We looked at the opposition teams and the games we will be playing and we went for variety […]
Transport Links
Jan 08, 2011 (LBO) – Sri Lanka and India have signed an agreement to start ferry services between the two neighbours with a meeting of officials to be held in Colombo next week, an Indian High Commission statement said. An Indian company, IRCON, has already commenced survey work for this purpose to restore the damaged […]
Sri Lanka drops Jayasuriya, Vaas from WCup squad
January 7, 2011 (AFP) – Sri Lanka on Friday dropped veteran batsman Sanath Jayasuriya and bowler Chaminda Vaas from its 15-man squad for the World Cup that runs from February to April. Jayasuriya, a parliamentarian, and Vaas were part of the team that won the country’s sole World Cup in 1996, and had been included […]
Sri Lanka expects renewal of lapsed US trade benefits
Jan 07, 2011 (LBO) – A United States trade facility allowing duty free Sri Lankan exports that lapsed is likely to be renewed with retroactive effect as has happened in the past, officials said. The US Congress has not renewed the Generalized System of Preferences (GSP) program before its conclusion of business and therefore GSP […]
Fresh Capital
Jan 07, 2011 (LBO) – The Colombo Stock Exchange has approved an application by The Finance Company, a troubled financed firm that is recovering after a run, for a public share issue to raise 1. 6 billion rupees for fresh capital, a statement said. The firm will issue 40 million ordinary voting shares at 40 […]
Close Eye
Jan 07, 2011 (LBO) – Sri Lanka’s central bank will keep a closer eye on conglomerates with interest in banks and finance companies, governor Nivard Cabraal said. Financial institutions connected to diversified conglomerates can have greater risks, requiring higher degree of supervision, he said in a speech on the central bank’s monetary policy for 2011. […]
Port Prospects
Jan 07, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to invite investors to make proposals for investments in the eastern port of Trincomalee where large tracts of land are available by March, its chairman Priyath Wickrama said. The port has a cement plant and flour mill. “In the future we will not […]