Category: Industry
Credit Status
Mar 30, 2010 (LBO) – Credit to Sri Lanka’s private borrowers from commercial banks was steady at 1,195. 8 billion rupees in January 2010 while loans in domestic currency rose slightly, the latest official data shows. Loans from rupee books of commercial bank rose to 1,048.7 billion rupees in January from 10,43. 8 billion a […]
Sri Lanka Jetwing eyes East Asia from Vietnam base
Mar 29, HANOI (LBO) – With a firm foothold in Vietnam, Sri Lanka’s Jetwing leisure group is looking to expand further into fast growing tourism markets in Laos and Cambodia, an official said. Jetwing Indochina Company, a joint venture with a local group which already has leisure interests including Vietnam’s Buffalo Tours, is building a […]
Sri Lanka president offers spiritual healer help to Beckham
March 27, 2010 (AFP) – Sri Lanka’s president has offered the services of his spiritual healer and personal physician to help injured footballer David Beckham get back on the field within three days. White, who says he has had “special powers” since the age of 12, studied traditional medicine. He then began treating thousands of […]
Alternative Media
Mar 27, 2010 (LBO) – Sri Lanka’s Dialog Television (DTV) is opening sports content for advertising targeting affluent consumers and forecasts a sharp rise in subscribers by year-end, a senior official said. “It’s truly an alternative to mainstream media and helps you to reach groups with deeper pockets more cost-effectively. “From April 1 new channels […]
Sri Lanka in bid to lure cruise ship calls
Mar 26, 2010 (LBO) – Once a lucrative foreign exchange provider to Sri Lanka, cruise tourism is seen as bringing back more well-heeled tourists to the island, just as it did before the ethnic war. Sri Lanka is expecting an estimated 21,000 cruise passengers this year with 30 liners having confirm calls, travel trade officials […]
Banking Bent
Mar 26, 2010 (LBO) – Sri Lankan banks will shift focus towards small and medium enterprises as well as the former north-east war zone while consolidation is needed to control costs and expand assets, a report said. “Banks to watch out for are those where management is forward thinking and empowered to mix traditional banking […]
Transition
Mar 26, 2010 (LBO) – Sri Lanka’s NDB Bank has got a new chief executive, with the former being nominated as an opposition lawmaker and three directors expected to be replaced by nominees from government which now owns a big stake. It said this is “to enable certain shareholder interest to be represented on the […]
Sri Lanka builds to lure business visitors
Mar 25, 2010 (LBO) – Sri Lanka is building more convention centres amid fears of a shortage of accommodation following a flood of tourists with the end of its war and temporary closure of a big conference hall. Tourist industry officials said they are promoting MICE tourism, as travel abroad for Meetings, Incentives, Conventions and […]
‘s cancelled concert
March 25, 2010 (AFP) – Sri Lanka lost a “priceless” promotional opportunity by banning the US star Akon from performing at a concert in Colombo following protests from Buddhist monks, the tourism minister said Thursday. The rapper’s concert on April 24 was blocked after monks complained about his “Sexy Bitch” music video featuring women in […]
Top Marks
Mar 25, 2010 (LBO) – Commercial Bank has been declared Sri Lanka’s best bank in 2010 for the 12th year running by Global Finance magazine, the bank said in a statement. The US-based financial publication’s latest listing of the ˜Best Emerging Markets in Asia’ is to published in its May issue. The report covers the […]
Bank Buy
Mar 25, 2010 (LBO) – Sri Lankan government controlled funds bought chunks of Hatton Nation Bank on the Colombo bourse Thursday increasing their stake in the private listed bank to 25 percent of its voting rights, brokers said. “Now the government owns 25 percent of HNB,” the spokesman from Capital Trust Securities said. Sri Lanka […]
Sri Lanka mulls aviation complex in former Tiger jungle airstrip
Mar 24, 2010 (LBO) – A makeshift airstrip built by Tamil Tiger separatists in the jungles of northern Sri Lanka is to be turned into an aviation complex under government post-war reconstruction plans, an official said. L H Indrasiri, director, geographical information systems of the Urban Development Authority, said the proposal was part of a […]