Category: Industry
Sri Lanka December tourist arrivals up 16-pct, annual up 2-pct
Jan 07, 2010 (LBO) – Sri Lanka’s December tourist arrivals rose 16.2 percent to 56,862 from a year earlier as travel warnings were removed while annual visitors grew 2.1 percent to 447,890, tourist promotion office data showed. India retained its position as the top market for generating visitors last year, with the UK remaining in […]
Samaraweera fires Sri Lanka to victory
DHAKA, January 5, 2010 (AFP) – Thilan Samaraweera smashed a career-best 105 not out to guide Sri Lanka to a five-wicket win over India in a triangular one-day series match here on Tuesday. The middle-order batsman hit 11 fours in his 106-ball knock for his second one-day hundred as Sri Lanka surpassed India’s 279-9 with […]
Sri Lankan insurance firm offers cover for the disabled
Disabled Cover Sri Lanka Islamic insurer offers cover for deaf people Jan 06, 2009 (LBO) – Sri Lanka’a Amana Takaful Insurance, an Islamic insurer, said it has started a cover for deaf people in partnership with a disabled group in the south of the island. Amana Takaful, a 10-year old firm, is in both general […]
Sri Lanka insurance firms seen under pressure as interest rates fall
Jan 06, 2010 (LBO) – Sri Lankan insurance firms face difficulties in maintaining margins as interest rates fall with most funds in risk-free government securities, RAM Ratings Lanka said. With interest rates falling, however, companies will be challenged to maintain their margins, RAM Ratings said. Although investments are an integral part of insurance companies, investment […]
Sri Lanka tea imports fall
Jan 05, 2010 (LBO) – Tea imports for re-export by Sri Lanka, a major exporter, fell sharply last year as opposition by producers to importing teas remained strong, Tea Board and industry officials said. Tea Board officials said pressure by the producer sector on the regulator led to more stringent checks on imported teas which […]
Sri Lankan Airlines says airport check-in back to normal
Jan 05, 2010 (LBO) – Sri Lanka’s national carrier Sri Lankan Airlines said check-in at the Bandaranaike International Airport north of Colombo was back to normal and passengers need not come four hours ahead of departure. Airport officials said the congestion was caused at peak aircraft arrival and departure periods because immigration department officials had […]
Close Watch
Jan 05, 2010 (LBO) – Sri Lanka’s Central Bank intends to monitor more closely banking sector group companies to improve its supervision of financial institutions, Governor Nivard Cabraal said. The move is part of several measures being taken to better regulate the financial sector after several institutions, both regulated and unregulated, got into trouble in […]
Transport Links
Jan 05, 2010 (LBO) – The Asian Development Bank said the first batch of bidding documents for a road project it is funding in northern Sri Lanka is expected to be available this month. The proposed Northern Road Connectivity Project will cover repairs to about 120 km of national highways in the northern and north-central […]
Bailout Ceiling
Jan 04, 2010 (LBO) – Sri Lanka’s Central Bank said a new mandatory deposit insurance scheme to be introduced this year will cover up to 100,000 rupees per depositor. Coverage would increase as the deposit insurance fund grows, governor Nivard Cabraal said in a statement on its financial sector policies for 2010. The deposit insurance […]
Sri Lanka to set up export-import bank: CB Governor
Jan 04, 2010 (LBO) – Sri Lanka’s Central Bank is setting up an export-import bank to fast-track Sri Lanka’s international trade, governor Nivard Cabraal said. The proposed ˜ex-im bank’ will have an initial capital of 200 million rupees and may be financed by both government and commercial sources. “It will provide financial assistance to exporters […]
Sri Lanka Hemas buys small hydro power plant
Jan 04, 2010 (LBO) – Sri Lanka’s Hemas Power said it has bought a 2.6 megawatt (MW) hydro-power plant in the Nuwara Eliya district in the central hills from Senok Mark Hydro for 198.5 million rupees. In September 2009, Hemas Holdings floated its power generation business to build a 2.4 MW mini hydro plant in […]
Sri Lankan Airlines asks travelers to come early to airport
Jan 04, 2010 (LBO) – Sri Lanka’s national carrier SriLankan Airlines said it was asking passengers on departing flights to report four hours before departure to the airport because of delays at immigration. It said in a statement there was heavy congestion at immigration counters at the Bandaranaike International Airport, north of Colombo. SriLankan Airlines […]