Category: Industry
Sri Lanka Hilton says multiple revenue streams cushions tourism hit
August 30, 2007 (LBO) – Sri Lanka’s Hilton Hotel is less affected than resort hotels by the drop in tourist numbers since it has multiple revenue streams, officials said. The hotel, which is owned by a Colombo listed company with state-ownership, is operated by the Hilton Hotels Corporation chain that has over 2,800 hotels in […]
Citi Performance
August 30, 2007 (LBO) – Citibank’s Sri Lanka unit net profits zoomed 82 percent in the first half of 2007 driven by hefty foreign exchange gains, interim results released by the bank showed.However the bank’s total loan book grew to 13.5 billion rupees from 9.7 billion and gross assets grew to 27.1 billion from 24.0 […]
No Rules
August 30, 2007 (LBO) – Sri Lanka power engineers have called off all industrial action including a non co-operation campaign following a second meeting with senior government officials. The Ceylon Electricity Board Engineers Union (CEBEU) met senior government officials at Temple Trees on Tuesday following an initial meeting on Sunday. Union officials said most of […]
Refining Plan
August 29, 2007 (LBO) – The Ceylon Petroleum Corporation (CPC), Sri Lanka’s state-owned oil refiner and distributor, is evaluating bids from two parties to conduct a feasibility study for its refinery expansion, a top official said. De Mel wants to acquire a hydro-cracker that can increase the yield of diesel in particular. Updated “We have […]
Sri Lanka Susanthika passes 200m heat
August 29, 2007 (LBO) – Sri Lanka sprinter Susanthika Jayasinghe qualified for the 200 metres women’s event at the IAAF World Championships in Osaka overcoming an earlier disappointment at the 100 metre heats. “It was really important for me to finish strong to draw a good lane in the next round,” Jayasinghe said. “I was […]
‘s Mahela, Muttiah among ICC award nominees
MUMBAI, Aug 28, 2007 (AFP) – Test captains Ricky Ponting of Australia and Mahela Jayawardene of Sri Lanka were on Tuesday nominated in four categories for the 2007 International Cricket Council awards.The winners will be announced at the ICC awards night to be held in Johannesburg on September 10, a day before the inaugural World […]
Home Loans
August 28, 2007 (LBO) – Fitch Ratings Lanka has confirmed the AA (lka) rating on HDFC Bank Series A mortgage backed securities, the rating agency said. The rating relates to the timely payment of interest and the ultimate payment of principal on Series-A certificates issued by the Home Loan Securitisation Trust 2005 (HLST), a special […]
Better Defence
August 28, 2007 (LBO) – Sri Lankan security authorities plan to re-open Colombo port’s northern entrance for navigation once underwater defence systems being tested are installed and activated. The planned re-opening will remove a key constraint that has caused lengthy delays for cargo ships and raised costs for both shipping lines and port terminals. The […]
Normal Light
August 27, 2007 (LBO) – The powerful engineers union of Sri Lanka’s state-owned electricity utility has temporarily suspended industrial action started last week, following talks with senior government officials. Secretaries to the President, the treasury and energy and the CEB chairman met the Ceylon Electricity Board Engineers Union (CEBEU) Sunday after a work-to-rule campaign began […]
SriLankan Airlines takes Etihad passengers in codeshare deal
Aug 27, 2007 (LBO) – Despite canceling flights to Sri Lanka, Abu Dhabi based carrier Etihad plans to stay back through a services agreement with SriLankan Airlines, officials said Monday. The Dubai based airline more than doubled its network during the last two years making Etihad one of the fastest growing airlines. The open-ended ‘codeshare’ […]
Holy Film
MUMBAI, Aug 27, 2007 (AFP) – An historical epic is to be filmed about the life and teachings of the Gautama Buddha, the founder of Buddhism, a South Asian production team said Monday. “The message of the movie gives answers to global crises of conflict and environmental problems,” Navin Gooneratne, the chairman of the Light […]
Ouch!
Aug 27, 2007 (AFP) – A colony of wasps attacked over 250 tourists on Monday at a fifth-century rock fortress in Sri Lanka causing a stampede, police said. At least 85 people were hospitalised while others were given first aid following the incident at the foot of the 180-metre (600-foot) fortress of Sigiriya. The Sigiriya […]