Category: Industry
Travel Tale
Aug 11, 2010 (LBO) – Lanka Ashok Leyland, an Indo-Lanka joint venture importing and assembling buses has reported a sharp increase in profit and sales as post-war demand increases demand for passenger transport. The government-owned Lanka Leyland has a 41.77 percent stake in Lanka Ashok Leyland and Ashok Leyland of India a 27.85 percent stake […]
Sri Lanka gets Thai hotel investment
Aug 10, 2010 (LBO) – Thailand’s Minor International has struck a deal with Sri Lanka’s Hemas group to acquire and upgrade a beach resort for 22 million dollars under the ‘Anantara’ brand. A stock exchange filing said Hemas subsidiary Serendib Hotels has got 19.9 percent and Minor International 80.1 percent of the shares of Cyprea […]
Box Trade
Aug 10, 2010 (LBO) – Container volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings rose in July as harbour delays were sorted out and trade continued to grow, latest data showed. South Asia Gateway Terminals, a key contributor to JKH’s bottomline, handled 173,085 TEUs or twenty-foot equivalent […]
Sri Lanka hotels energy effort cuts costs, lures tourists
Aug 09, 2010 (LBO) – An energy efficiency initiative by Sri Lankan hotels is helping them to reduce costs and attract special interest visitors, an official said. “Through it we expect to develop a combined approach to improve energy conservation activities in our hotels,” Deheragoda said. Krishan Deheragoda, former chairman of the Sri Lanka Sustainable […]
Sri Lanka Sigiriya Village Hotels to raise funds for revamp
Aug 09, 2010 (LBO) – Sri Lanka’s Sigiriya Village Hotels is planning a rights issue to raise funds to refurbish and renovate its hotel in the island’s north-central region, a stock exchange filing said. The company, which has a stated capital of 175 million rupees, is to issue 2. 1 million ordinary shares priced at […]
Sri Lanka Keells Hotels losses mount, investments up
Aug 09, 2010 (LBO) – Losses at Sri Lanka’s John Keells Hotels rose in the June 2010 quarter from a year ago but it increased investments in new hotels and upgrading existing ones, a stock exchange filing said. The unit of the John Keells Holdings conglomerate said the net loss for the quarter widened 12 […]
Message Monitor
JEDDAH, August 7, 2010 (AFP) – BlackBerry has “virtually” sealed a deal with Saudi Arabia on its encrypted messenger services to avert a ban on the smartphone, a Saudi telecoms company official told AFP on Saturday. “A deal has been virtually reached and we are in the process of adding the final touches,” said the […]
Early Burnout
MANILA, August 8, 2010 (AFP) – Daybreak is happy hour in a world turned upside down at a trendy bar in the Philippines’ financial district, the clientele young and loud and with a vague California accent. Vodka cruisers and beer fly by the bucketful as good friends Cici, Pau and Jels go off duty along […]
Hobbling Laxman hits ton to secure India Test win
August 7, 2010 (AFP) – Venkatsai Laxman overcame back spasms to hit an unbeaten 103 as India defeated Sri Lanka by five wickets in the final Test on Saturday to draw the three-match series 1-1. Sachin Tendulkar chipped in with 54 and Suresh Raina made 41 not out to help India surpass a challenging target […]
Sri Lanka Sunshine estates to yield tourism, hydro power revenue
Aug 07, 2010 (LBO) – Sri Lanka’s Sunshine Holdings said it has struck a deal to supply hydro power and is refurbishing company estate bungalows to accommodate tourists. The group’s net profit for the June 2010 quarter rose 51 percent to 116 million rupees from a year ago with sales up 24 percent to 2. […]
Capital Injection
Aug 06, 2010 (LBO) – Sri Lanka’s Nawaloka Hospitals group June 2010 quarter profits rose 1,350 percent to 902 million rupees on a one-off extraordinary gain from the sale of a stake in a hotel, a stock exchange filing said. At the end of June quarter, the hospital group’s gross assets rose six percent to […]
Sri Lanka gets Maldivian investment for east coast resort
Aug 06, 2010 (LBO) – Maldivian investors are to set up a 150-room tourist resort at Passikudah, in Sri Lanka’s eastern Batticaloa district with an investment of six million US dollars, the investment promotion agency said. The Board of Investment said it gave approval for the venture by Blue Continent to set up the resort […]