Category: Industry
IP Rights
July 22, 2010 (LBO) – A Sri Lankan software industry group cracking down on piracy has warned that foreign companies in the island cannot assume they are covered by software licences held by their overseas parents. The Business Software Alliance (BSA), a global trade association representing the software industry, said it had entered into a […]
Sri Lanka Amaya Reef sold to public
July 22, 2010 (LBO) – Sri Lanka’s Amaya Reef, a listed company, has been spun off by its parent Amaya Leisure at prices of up to 5.00 rupees a share, but will continue to be managed by the group, an official said. “This will be the first fully publicly owned company under Amaya management,” Nimal […]
Murali magic sets India back in rain-hit Test
GALLE, July 20, 2010 (AFP) – Retiring spin wizard Muttiah Muralitharan dismissed Sachin Tendulkar cheaply as Sri Lanka seized control of the rain-ravaged first Test against India on Tuesday. The world’s most successful bowler, who was eight short of the 800-wicket mark in his final appearance, trapped batting record holder Tendulkar leg-before for eight before […]
‘s five-star Murali makes India follow-on
GALLE, July 21, 2010 (AFP) – Spin wizard Muttiah Muralitharan grabbed five for 63 in his final match as Sri Lanka made India follow on in the first Test on Wednesday in Galle. The off-spinner took his career tally to 797 wickets as India were shot out for 276 in reply to Sri Lanka’s 520-8 […]
Two Sri Lanka beaches make top grade: Forbes
July 21, 2010 (LBO) – A beach stretch from Tangalle Bay to Weligama in Sri Lanka’s south and Bentota in the southwest have been named among the top 10 in Asia by Forbes, a business magazine. Sri Lanka is expecting 600,000 tourists this year and 2. 5 billion by 2016. The New York Times has […]
Equity Fund
July 21, 2010 (LBO) – New York based Logan Rockefeller Global (LR Global) is planning to invest 20 million US dollars in Sri Lanka through a newly set up local unit, which itself is planning a public listing as early as next year, officials said. “We are looking at Sri Lanka as a market that […]
Margin Growth
July 21, 2010 (LBO) – Sri Lanka’s Seylan Bank group net profit shot up 66 percent to 312 million rupees in the June 2010 quarter from a year ago as interest margins improved, a stock exchange filing said. Deposits and performing loans grew slightly and the bank managed to reduce bad loans. Interest income fell […]
River Yard
July 21, 2010 (LBO) – Sri Lankan ship builder Colombo Dockyard has begun building a ferry for passengers in the former northern war zone using a new yard on a river close to Colombo port, a statement said. The 100-passenger launch is being built for the state-owned Road Development Authority and will be used to […]
SriLankan Airlines expands fleet, plans new destinations
July 20, 2010 (LBO) – SriLankan Airlines has taken delivery of its latest A330-200 wide-bodied aircraft as part of the national carrier’s expansion programme that will double the fleet and add new destinations, a senior official said. Wickremasinghe said SriLankan Airlines plans to fly to Moscow as well as a fourth destination in China soon. […]
Tele Spend
July 20, 2010 (LBO) – Sri Lanka’s Etisalat unit said it was spending 163 million US dollars to expand its network into war ravaged north of the country and improve its broadband services in urban areas. The expansion will see 480 new base stations taking the total to 1580, which the firm says will be […]
Sri Lanka leisure industry in boom but profits still elusive
July 20, 2010 (LBO) – Sri Lanka’s hoteliers say 10 billion US dollars have to be invested to more than double the country’s hotels rooms to 35,000 by 2016 to cater to an expected 2.5 million tourists, but the journey is not a cake walk. Investment Plans Sri Lanka’s Amaya Leisure says it wants to […]
Sri Lanka hotel room rates to be upped 20-pct in winter: official
July 19, 2010 (LBO) – Sri Lanka’s leisure operators will push up room rates by about 20 percent in the coming winter season, amid a post-war tourism boom that has seen a near 50 percent jump in arrivals, officials said. John Keells Holdings said it had seen an immediate increase in its coastal resorts and […]