Category: Industry
Offshore Business
Oct 18, 2007 (LBO) – Two of Sri Lanka’s top listed conglomerates, John Keells Holdings and Hayleys are positioning themselves to exploit business opportunities expected to emerge from an anticipated oil strike offshore. The aim of sending the business delegation to Norway was to widen the scope for business collaborations in new sectors with high […]
‘s Ceylon Glass says exports surging
Oct 18, 2007 (LBO) – Ceylon Glass Company Thursday announced net profit for the quarter ended September 30 rose 29 percent to 44.6 million rupees and that exports were doing well. The company’s interim results released to the Colombo bourse showed revenue for the quarter increased to 504 million rupees from 421 million in the […]
Migrant Votes
Oct 18, 2007 (LBO) – Sri Lankan migrant workers who account for as much as 12 percent of voters are still denied the right to vote although they constitute the island’s second biggest foreign exchange earner. Commissioner of elections Dayananda Dissanayake told LBO migrant workers remain without the ability to vote because successive governments remained […]
Sri Lanka tourism slumps throws thousands out of work
Oct 17, 2007 (LBO) – Five thousand experienced hotel workers are out of work due to the tourism downturn, according to the managers of Sri Lanka’s top hotel school who are now training people to find work abroad. Hotels are unable to hire new staff as tourist arrivals have fallen 22 percent in the first […]
Port Bids
Oct 17, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) Wednesday dismissed conflicting claims by rival bidders for a new terminal contract, saying they were inaccurate as bids were still being evaluated. “No one can claim to be the highest bidder,” said Nalin Aponso, deputy chief manager for communication and PR at the SLPA. […]
New Products
Oct 17, 2007 (LBO) – Software and IT educational institute OpenArc released products for business and management sectors of companies in Sri Lanka, following its 15 year anniversary celebrations. ‘Open Arc SkyBank’, is an enhanced web-based solution to enhance efficiency of merchant banks and finance companies which use online real time Integrated General Ledgers, OpenArc […]
High Stakes II
Oct 17, 2007 (LBO) – Sri Lanka’s Aitken Spence conglomerate Wednesday defended its claim to have made the highest bid for Colombo port’s new container terminal in partnership with PSA Corp. An Aitken Spence spokesman said a statement by rival bidder Hutchison Port Holdings (HPH) was misleading and an attempt to change the rules for […]
Poor Health
Oct 17, 2007 (LBO) – Lanka Hospitals Corporation said its net loss for the first quarter of the 2008 financial year ended June 30 shot up 148 percent to 35.5 million rupees from 14.3 million in the same period last year. The Harry Jayawardene controlled company, which owns the Apollo Hospital, said in results reported […]
Sri Lanka apparel firm bags fair trade tag
Oct 16, (2007) A woven fabric processor of the Sri Lanka apparel giant Brandix has won fair trade certification, allowing the group to penetrate niche markets, the company said.Brandix Textiles had received the Fair Trade and Organic certifications from the Institute for Marketecology (IMO) of Switzerland. The Fair Trade and Organic certifications are an important […]
‘s Heathrow
LONDON, Oct 15, 2007 (AFP) – Two aircraft collided on the ground at London’s Heathrow Airport on Monday evening, an airport spokesman told AFP.“Heathrow Airport can confirm that two aircraft were involved in an incident on the ground earlier this evening,” the spokesman said. “There are no reported injuries and passengers are in the process […]
Sri Lanka seeks to lure visitors with local cuisine
Oct 16, 2007 (LBO) – Sri Lankan cuisine should be promoted as a new attraction for tourists that will give the local tourism industry a better edge and greater yields, officials with the tourism bureau say.Sri Lanka, with an array of different food items has ignored the qualities of food and has not paid enough […]
Minor Injuries
Oct 16, 2007 (LBO) – As global markets are going through a painful hangover from a US housing bubble, the head of a ‘big four’ accounting firm says Asia will remain largely unaffected. Jim Turley: I don’t think there is going to be a lasting effect of this on compliance cost because institutions that are […]