Category: Industry
Helping Move
June 05, 2008 (LBO) – Only two percent of the public buildings in Sri Lanka have easy access to the disabled, CEAT Tyres which is backing an organization that is campaigning to improving access to public buildings by the disabled, has said. “For numerous reasons, disability in both visible and invisible forms is on the […]
Sri Lanka in push for German visitors
June 05, 2008 (LBO) – Sri Lanka is hosting a workshop and familiarization tour for more than 100 German travel agents in a bid to lure more visitors, the island’s tourist promotion office said. The program will increase awareness about the Sri Lanka among German travel agents and motivate them to sell and promote the […]
Debit Deals
June 05, 2008 (LBO) – Commercial Bank of Ceylon has started giving discounts previously limited to credit card customers to the bank’s debit card holders, which has seen increased use following a credit card transaction tax, the bank said. Chief manager of Commercial Bank’s card centre, Lakshaman Perera said in a statement that a one […]
Prime Property
June 05, 2008 (LBO) – Sri Lanka’s Sampath Bank has called for proposals to develop a prime property it owns in the heart of the capital Colombo in a joint venture. The property market has been showing signs of cooling in recent months but prime locations such as Colombo 7 would always be pricey, analysts […]
Sri Lanka blast damaged hotel gets state help
June 04, 2008 (LBO) – Sri Lanka’s tourist promotion office had given a million rupees to re-build an old tourist hotel that was damaged in a Tamil Tiger bomb blast, the ministry of tourism said. The board of directors of Sri Lanka’s tourism promotion bureau had recently approved the request to help Hotel Nippon, the […]
Well Well
SINGAPORE, June 3, 2008 (AFP) – Oil prices eased in Asian trade Tuesday on continuing concerns over global energy demand, dealers said.“On the supply side, we are urging all oil producing countries to open oil markets to foreign investment, which would support faster and more efficient growth,” he said in a speech in the oil-rich […]
Sri Lanka Janashakthi public offer opens June 16
June 03, 2008 (LBO) – An initial public offering of Janashakthi Insurance would open on June 16, the Colombo Stock Exchange said, making it the first initial public offering in two years. However, 30 percent revenue growth, beating the industry average in the early part of the decade, has slowed to 18 percent in 2006 […]
Drug Link
June 03, 2008 (LBO) – PC Pharma, a unit of Sri Lanka’s PCH Holdings announced the launch of Bangladeshi Square Pharmaceutical products in Sri Lanka, which the firm says is competitively priced. Square Pharmaceuticals is a unit of Bangladeshi conglomerate, Square Group which has also diversified into healthcare, consumer goods and textiles, officials said. The […]
Japan may export rice to Sri Lanka: official
TOKYO, June 2, 2008 (AFP) – Japan is mulling a request from Sri Lanka to export up to 200,000 tonnes of its imported rice supplies to help Colombo ease acute food shortages, a Japanese foreign ministry official said Monday.But Japan, Asia’s biggest economy, is sitting on a rice mountain as it needs to import 770,000 […]
Lease Rate
June 02, 2008 (LBO) – Fitch Sri Lanka has lifted the credit watch on Commercial Leasing Company (CLC), following a take-over, and confirmed its ‘A-(lka)’ rating with a ‘stable’ outlook. CLC was taken over by Lanka Orix Leasing Company (LOLC) last month and was put on credit watch on May 16. The resolution of the […]
Regional Push
May 02, 2008 (LBO) – Sri Lanka’s central bank said financial institutions would have to open two branches outside the fast growing Western province to be allowed to open one in the area, which also contains the capital, Colombo. “Further, increased availability of bank branches and other outlets would enable people in the regions to […]
Foreign Deposits
June 2, 2008 (LBO) – Sri Lanka has allowed commercial banks to raise deposits from foreigners for their domestic banking units, from June 02, the Central Bank said. Analysts say the ability to raise more deposits (borrow abroad) may fill the dearth of dollars in the banking system which has helped create an interest rate […]