Category:
‘ Choice 2013 rankings
Jan 27, 2013 (LBO) – Sri Lanka has been added to a list of 14 Asian countries where popular hotels are ranked annually by TripAdvisor.com, a travel review site, though no hotel in the island made it to the world’s best 25 hotels. Maldives had three hotels in the top 25, Baros Maldives, North Male […]
Sri Lanka axed from AirAsia network
Jan 22, 2013 (LBO) – AirAsia, a low cost carrier said it was ending daily flights to Colombo from February 26, “as part of a commercial realignment.” Affected guest could move their flights to an earlier date without any extra charge, offered credit valued to three months or a full refund, the airline said. AirAsia […]
‘s finance and economic ministry on trade
Jan 22, 2013 (LBO) – India will begin talks with Sri Lanka’s finance and economic ministry to develop “a framework for a special economic partnership” a joint statement released after a meeting between delegations headed by foreign ministers of the two countries said.“[T]he two sides decided to take several steps to further deepen trade, tourism […]
Sri Lanka Commercial Credit to sell 20-pct debentures
Jan 21, 2013 (LBO) – Commercial Credit and Finance Plc, is selling 250 million rupees of 5-year debentures paying of 20 percent a year with an option to sell further 250 million rupees worth if there is strong demand, managers to the issue said.Merchant Bank of Sri Lanka, which is managing the sale said, interest […]
Sri Lanka bond auction yields flat
Jan 21, 2013 (LBO) – Sri Lanka’s 08 and 15-year bond yields were flat at Monday’s auction, unchanged from January 10, data from the state debt office showed, while three year bonds were sold at near secondary market rates, dealers said.Bond maturing on May 01, 2021 (8 years and 4 months) were sold to yield […]
Pirate Poser
Jan 21, 2013 (LBO) – Sri Lanka’s southern port of Galle has become a hub in the fight against Somali pirates who threaten international merchant shipping, a report in a new magazine said. “Sri Lanka is one of the few countries in the region to authorise the transit of armed guards through their waters for […]
OTT Revolution
Jan 21, 2013 (LBO) – Asian mobile operators are likely to see sharp falls in short message service (SMS) revenues as subscribers shift to services like WhatsApp which allow unlimited texting, an economic research consultancy has said.In December 2012, WhatsApp had processed 7 billion inbound messages and 11 billion outbound messages worldwide on December 31. […]
Sri Lanka printer gets top green rating
Jan 21, 2013 (LBO) – Sri Lanka’s Aitken Spence Printing said its new printing facility had received a ‘Gold’ rating from in Leadership in Energy and Environmental Design (LEED) from US-based Green Building Council. The company’s new 77,000 square feet facility near Sri Lanka’s capital Colombo, was given LEED-NC (New Construction): GOLD Certification, the firm […]
Sri Lanka needs price formula for petroleum, electricity: power minister
Jan 21, 2013 (LBO) – Sri Lanka needs a cost based price formula for electricity and petroleum, power minister Patali Ranawaka has said.The rupee fell from 110 to 134 to the US dollar during the crisis. There was a steep energy price hike in February 2012 and the rupee has since strengthened to 126.50 to […]
Bus Bailout
Jan 20, 2013 (LBO) – Sri Lanka Transport Board, a loss-making state bus utility has been given a 2.8 billion rupee bailout from tax payer money, the state information office said.In 2011 the SLTB had being given a 3.939 billion rupee subsidy on top of a 4.6 billion rupee cash handout the year earlier, according […]
Finance Rating
Jan 19, 2013 (LBO) – Sri Lanka’s Vallibel Finance Ltd has been rated ‘BB+’ with a stable outlook by RAM Ratings Lanka. “Vallibel’s ratings are moderated by the increasing trend in new non-performing loans (NPLs) in recent times, coupled with its unseasoned loan portfolio, given aggressive loan Growth,” RAM Ratings Lanka said. “The ratings are, […]
US officials to visit Sri Lanka for LLRC talks
Jan 19, 2013 (LBO) – Three US officials led by deputy assistant secretary James Moore will visit Sri Lanka from January 26 for talks which include progress on implementing recommendations of a post-war reconciliation report, the US embassy in Colombo said. He will be accompanied by Deputy Assistant Secretary of Defense Vikram Singh and Deputy […]