Category: Industry
Sri Lanka Taj airport hotel expanding, rebranded
Sept 24, 2010 (LBO) – Sri Lanka’s Taj Airport Garden Hotel, a 130 room hotel will be expanded with 100 more rooms and rebranded under the group’s ‘The Gateway Hotel’ as part of a renewed marketing push, officials said. “The rebranding will take place from January 2010,” general manager Mathew Thomas said. “In two months […]
‘s Taj hotels
Sept 24, 2010 (LBO) – India’s Taj group is looking for opportunities in Sri Lanka’s war-torn eastern coast and a city hotel it controls will also need 30 to 35 million US dollars to be upgraded to fit the group’s new brand portfolio, officials said. India itself sends more tourists to Sri Lanka than any […]
Delhi faces threat of mass exodus from Commonwealth Games
NEW DELHI, September 23, 2010 (AFP) – The chaotic Delhi Commonwealth Games faced dire warnings Thursday of a mass pullout by teams as organisers worked frantically to save the event from disaster with just 10 days to go. Eight countries have written a joint letter to the Indian organisers, demanding a list of conditions covering […]
Vehicle Pact
Sept 23, 2010 (LBO) – Sri Lanka’s SMB Leasing has struck a deal with Lanka Ashok Leyland, the local unit of the Indian vehicle manufacturer, to distribute its vehicles in the former north-east war zone, a statement said. Under the agreement SMB Leasing is to be the sole agent for Lanka Ashok Leyland in Sri […]
Upgrade Potential
Sept 23, 2010 (LBO) – Fitch Ratings Lanka said it has raised the outlook on Sri Lanka’s Sampath Bank (SB) ˜AA−(lka)’ national longterm rating to positive from stable, indicating a potential for an upgrade in the next 1224 months. “This is based on structural improvements that have occurred within the bank since early 2009, across […]
Rate Ceiling
Sept 23, 1010 (LBO) – Sri Lanka’s central bank has asked banks to cut interest rates on housing loans to 14.0 percent and interest on credit cards to 24 percent by end-October following steep policy rates cuts and lower economic risks. The monetary authority, which is also the bank regulator, said rates on other loans […]
Knowledge Source
Sept 22, 2010 (LBO) – India’s CRISIL, a unit of the rating agency Standard & Poor’s said it is buying Pipal Research Corporation, a knowledge process outsourcing firm for 12.75 million US dollars. The purchase will be done through , Irevna, CRISIL’s own KPO division. “The Irevna-Pipal combination will be uniquely positioned in the high-end […]
‘s dismal Wayamba
CENTURION, September 20, 2010 (AFP) – The Victoria Bushrangers outclassed a dismal Wayamba Elevens team at SuperSport Park on Monday night to keep alive their hopes of reaching the semi-finals of the Champions League Twenty20 tournament. But Mubarak fell to a superb catch at cover by Hussey and the Sri Lankan side collapsed ignominiously against […]
Remittance Deal
Sep 21, 2010 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) has inked inked a deal with a financial partner in Jordan as part of a bid to expand its remittance business tenfold over two years, officials said. NSB announced a deal with JRM Alami and Partners Exchange Company in Jordan Monday to help […]
Container Cash
Sept 21, 2010 (LBO) – Sri Lanka’s Aitken Spence has to raise 4. 5 billion rupees for its stake in a new port terminal, which if funded by debt might invite a downgrade of its ‘AA(lka)’ rating, Fitch Ratings said. Fitch Ratings Lanka is reviewing Aitken Spence’s (ASP) senior unsecured notes’ ‘AA(lka)’ National Long-term rating […]
Sri Lanka airport transit facilities boosted: state airline
Sept 20, 2010 (LBO) – Facilities for transit passengers in Sri Lanka’s international airport at Katunayake has been boosted with a 24-room hotel, which is under the management of state-run SriLankan airlines, the national carrier said. The airport has eight rooms with double beds, and eight rooms with a single deb and an attached bathroom. […]
‘s Super Kings face survival battle
PORT ELIZABETH, September 18, 2010 (AFP) – After an unsuccessful gamble by captain Mahendra Singh Dhoni, the Chennai Super Kings will have to wait until Wednesday to know whether they will qualify for the semi-finals of the Champions League Twenty20 tournament. Chennai were beaten in a Super Over by Australia’s Victoria Bushrangers at St George’s […]