Category: Industry
Sri Lanka July tourism arrivals up 28-pct
Aug 14, 2009 (LBO) – Foreign visitors to Sri Lanka increased 28 percent in July from a year earlier, with Western Europe and South Asia generating markets showing steep increases, the island’s tourism promotion office said. A 30-year internal conflict ended in May with the leadership of Tamil Tiger separatists being wiped out by the […]
Strong Showing
Aug 14, 2009 (LBO) – Sri Lanka’s NDB Bank group profits grew 45.7 percent to 529.7 million rupees in the June 2009 quarter from a year earlier, on revenues that grew 22.5 percent to 3.79 billion rupees, the company said.Deposits grew 24 percent to 38.5 billion rupees from 31.0 billion in December. NDB group gross […]
Stiff Competition
Aug 13, 2009 (LBO) – Sri Lanka’s Hutchison Telecom International unit lost subscribers in the June 2009 quarter, but the firm is continuing network expansion that will see 65 percent population coverage by the end of the year, the company said. Hutchison said subscriber dropped to 536,000 by end June from 772,000 in March. In […]
Write Down
Aug 13, 2009 (LBO) – Dialog Telekom, a unit of Malaysia’s Axiata and the island’s top celco said it lost 7.6 billion rupees in the June 2009 quarter on a 6.0 billion rupee one-off write-down of older network equipment. Dialog Broadbband, a fixed and broadband unit had shown revenues of 556 million rupees.Group revenues fell […]
Migrant Impact
Aug 13, 2009 (LBO) – Migrants are left out of current stimulus packages and HIV/AIDS programmes are under threat, according to a new United Nations study.The paper, released at the ninth International Congress on AIDS in Asia and Pacific in Bali this week, said the adverse impact of the financial crisis on health and migration […]
Bank Numbers
Aug 13, 2009 (LBO) – Sri Lanka’s Commercial Bank said group profits rose 2.7 percent to 1,122.1 million rupees in the June 2009 quarter from a year earlier, while revenues rose 2.0 percent to 11.0 billion. Interest income fell 1.3 percent to 8.96 billion, interest expenses rose 1.8 percent to 6.12 billion rupees, causing interest […]
Promotions
Aug 13, 2009 (LBO) – Sri Lanka’s Central Bank said it has promoted six officers as Assistant Governor with effect from August 10, 2009. The officers are W M Karunaratne, P Liyanage , J P Mampitiya, C K Nanayakkara, B D W A Silva and P N Weerasinghe. “These promotions have been made in line […]
Sri Lankan Engineering maintains Pakistani, Indian aircraft
Aug 12, 2009 (LBO) – SriLankan Airlines engineering unit is strengthening relationships with regional airlines on its path to becoming a maintenance repair organization (MRO) for Asia, the Colombo-based airline said. Over the past year SriLankan Engineering has carried out certifications on aircraft of several airlines including Air Arabia, Kuwait Airways, Kingfisher, Qatar Airways and […]
Cell Sale
Aug 11, 2009 (LBO) – Luxembourg-based Millicom International Cellular which has put its Asian units on sale will sell 58.4 percent stake in its Cambodia unit to The Royal Group, its local partner, the company said.The stake in CamGSM will go for 346 million US dollars, valuing the unit at 605 million US dollars or […]
Northern Connect
Aug 12, 2009 (LBO) – Sri Lanka’s Dialog Telekom has activated the first phase of a network expansion into former war-torn areas in the north of the island, which may cost up to 10 million US dollars, officials said.“We have connected the first six sites, and we will build 60 more towers in tandem with […]
Tele Deal
Aug 12, 2009 (LBO) – Sri Lanka Telecom (SLT) said it has inked a deal with Mireka Capital Land (Pvt) Ltd, a large commercial and residential property project, to provide telecom services including fibre optic supported broadband facilities.Mireka Capital Land is a joint venture between Overseas Realty (Ceylon), a unit of Singapore’s SP Tao group, […]
Locally Made
Aug 12, 2009 (LBO) – Dubai-based EZY Infotech said it has launched their first computer made in Sri Lanka, a slim desk-top machine powered by Intel Atom technology. EZY Infotech set up a fully-automated manufacturing plant in February 2009 in the suburb of Ratmalana south of Colombo to make computers bearing the ˜Manufactured in Sri […]