Category:
SriLankan to re-fleet with Airbus wide-body aircraft: report
Apr 28, 2013 (LBO) – SriLankan Airlines has decided to acquire Airbus Industrie aircraft to replace its ageing wide-body fleet, a media report said. SriLankan lost 20.5 billion rupees last year but it had been getting annual capital injections of about 100 million US dollars though government bonds. SriLankan already has a fleet of younger […]
SriLankan Airlines to get 13 Airbus aircraft with 7 A350s
Apr 28, 2013 (LBO) – State-run SriLankan Airlines will acquire seven Airbus A350-900 and six A330-300 aircraft to upgrade its product and cut costs starting from October 2014, chief executive Kapila Chandrasena said.SriLankan will acquire 10 aircraft from Airbus through a mix of operating and finance leases in a deal which has a ‘present value’ […]
Sri Lanka expands hotel management schools
Apr 27, 2013 (LBO) – Sri Lanka has built a hotel management school in Kandy in the central hills more than doubling capacity to accommodate 500 students a year, the economic development ministry said. Located in Kandy in Pallekelle the has a fully equipped kitchen, classrooms, dining rooms, library, computer lab, open air theater, a […]
Australia rejects calls to boycott Sri Lanka meet
SYDNEY, April 27, 2013 (AFP) – Australia has vowed not to boycott the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka over allegations of human rights violations, despite mounting calls not to attend.Backed by India, the United States and European nations, the UN Human Rights Council last month called for an investigation into suspected […]
‘s deputy PM to visit Sri Lanka
Apr 27, 2013 (LBO) – Japan’s deputy Prime Minister Taro Aso and senior Vice Minister of Finance Yuko Obuchi will be on a two day visit in Sri Lanka from May 01, the Japanese embassy in Colombo said. They will meet President Mahinda Rajapaksa and visit the Port of Colombo, which has expanded over the […]
Sri Lanka loses 0.5-pct of GDP in taxes from state worker car permits
Apr 27, 2013 (LBO) – Sri Lanka has lost 38.5 billion rupees in potential revenues from imported vehicles due to tax-slashed permits given to state functionaries, a government estimate showed. The so-called ‘car permits’ are now being sold in the secondary market and state functionaries are making tax-arbitrage profits. The practice which was carried on […]
Finalized
Apr 25, 2013 (LBO) – A one billion rupee unsecured listed debenture issue to be sold by Sri Lanka’s Senkadagala Finance had been given a final investment grade rating of ‘BBB+(lka), Fitch Ratings said. It is at the same level as an expected rating issued on April 18, pending the receipt of final documents. The […]
Sri Lanka opposition says bulk of costly IPPs outside their remit
Apr 26, 2013 (LBO) – Most of Sri Lanka’s private power production capacity has been signed up by state-run Ceylon Electricity Board, outside their administrations and the problems are with ‘negotiated’ plants, an opposition legislator said.Coolair 2005 (not in operation) and Aggreko 2005 and the controversial West Coast Kerawalapitiya the largest ever private plant of […]
”’
Apr 26, 2013 (LBO) – Sri Lanka’s main opposition United National Party said a power tariff hike could have been imposed without an increase on small users to get the same revenue. Opposition legislator Harsha de Silva proposed an alternative pricing structure Friday which avoids raising tariffs for those using 90 units or below and […]
Rolling
Apr 25, 2013 (LBO) – A 43 kilometre stretch of Sri Lanka’s Northern Railway line has been re-built to allow trains to be run up to a speed of 120 kilometres, Ircon, an Indian state-run transport engineering firm said.Ircon said the 120 kilometre speed capable track has been laid with pre-stressed concrete sleepers and rail […]
‘s Lighthouse Hotel net down 29-pct
Apr 25, 2013 (LBO) – Profits at Lighthouse Hotel Plc, a unit of Sri Lanka’s Jetwing group fell 29 percent to 57.1 million rupees in the first quarter of 2013, interim accounts showed. The firm reported earnings of 1.24 rupees for the quarter, in accounts filed with the Colombo Stock Exchange. In the year to […]
Sri Lanka can remove obstacles to creating jobs: World Bank
Apr 25, 2013 (LBO) – Sri Lanka can help citizens better themselves by removing obstacles to creating new and better jobs, including for women, the World Bank said. The development agency based on the theme of its World Development Report 2013, says creating opportunities for jobs are critical for reducing poverty. “One of the biggest […]