Category: Industry
Qatar Airways plays down Sri Lankan interest: report
Jan 08, 2007 (LBO) – Middle Eastern carrier Qatar Airways has played down its interest in Sri Lankan Airlines after its current managing shareholder Emirates, announced a sell out of its equity stake, reports said. Though suffering a 4.7 billion loss and badly hit by war risk insurance it managed to survive by using Maldives […]
Sri Lankan Airlines to be run by government again: official
Jan 08, 2007 (LBO) – Sri Lanka’s government will take the reigns of SriLankan Airlines after a management agreement with Emirates Airlines ends in March 2008, the head of the island’s investment promotion office said. “The president has decided that the government will run SriLankan Airlines from April,” Board of Investment chief Dhammika Perera told […]
Sri Lanka expects tourism boost from devout visitors
Jan 08, 2008 (LBO) – The arrival of a spiritual leader and his followers for a religious ceremony in Sri Lanka will boost foreign visitors in January, the war ravaged island’s tourism promotion officials said Tuesday. Some 30,000 members of the Bohra community are expected for the 10-day Ashara Mubaraka ceremony starting January 9. His […]
Sri Lankan Airlines less attractive without catering, ground handling: analysts
Jan 07, 2008 (LBO) – Sri Lankan Airlines is not an attractive opportunity for potential investors unless it comes with ground handling and catering, as airline operations alone were not very profitable, analysts said. (US$1=SLR 108.30) The Bloomberg newswire quoting presidential secretary Lalith Weeratunga said a committee may be set up to look into options […]
Bunker Battle
Jan 07, 2008 (LBO) – Sri Lanka’s army overran Tamil Tiger fortifications in north-western Mannar while also engaging them on two other fronts in clashes that killed 23 guerrillas and one soldier since Sunday, the military said. Media Center for National Security said fighting was reported on separate fronts in Mannar, north-central Vavuniya and the […]
Quit Notice
Jan 06, 2007 (LBO) – Emirates said it would stop managing Sri Lankan Airlines after March 2008, ending months of controversy and a troubled relationship that culminated with the island government canceling the visa of its resident manager in Colombo. .Updated “Emirates has notified the Government of Sri Lanka that it will not be renewing […]
Free Trade
Jan 05, 2008 (LBO) – Sri Lanka and India have reached agreement on improving access for the island’s exports like tea to the Indian market but have yet to conclude a deal on trade in services, trade officials said. The latest round of talks between the two neighbours on a new trade deal ended in […]
Kala Pola
Jan 05, 2008 (LBO) – An annual open air art fair in the Sri Lankan capital Colombo will see more than 300 artists and sculptors displaying their creations and also be a meeting place for thousands of art lovers and buyers, its organizers said. The Kala Pola or ‘art marketplace’ is being held for the […]
Gassing Up
Jan 04, 2007 (LBO) – Sri Lanka’s second cooking gas retailer raised prices by 17 percent Thursday on a formula approved by the consumer authority while the minister in charge said advance notice of price increases should not be given. The Ceylon Petroleum Corporation has not raised prices since July. After fuel prices were fixed, […]
Record Highs
NEW YORK, Jan 2, 2008 (AFP) – Oil prices spiked to record closing highs within striking distance of 100 dollars a barrel Wednesday, triggering inflation jitters that weighed on the US stock market. “Crude prices are drawing some support from (expectations of) a further decline in crude stocks in a weekly US inventories report,” said […]
Century!
SINGAPORE, Jan 3, 2008 (AFP) – World oil prices eased in Asian trading on Thursday after briefly hitting 100 dollars a barrel for the first time, jolting oil-dependent economies.In morning trade, New York’s main contract, light sweet crude for February delivery, was 43 cents lower at 99.19 dollars a barrel. The contract closed 3.64 dollars […]
Sri Lanka raises hotel rates amid bomb attacks: officials
Jan 2, 2008 (AFP) – Sri Lanka’s luxury hotels raised their rates on Wednesday despite an escalating ethnic civil war that triggered a 20 percent drop in tourists. The Yala National Park was shut for 10 weeks after seven soldiers were killed in a rebel attack on the popular tourist destination, home to leopards, elephants […]