Category:
Carrier Call
Mar 20, 2012 (LBO) – A state-run container terminal in Sri Lanka’s Colombo port has won back Japan’s NYK (Nippon Yusen Kaisha) Line, which is a partner of the G6 Alliance of carriers formed last December. The 8,200 TEU vessel ‘MV NYK Virgo’, operated by G6 Alliance partner NYK Line had its inaugural call at […]
Name Change
Mar 20, 2012 (LBO) – Sri Lanka’s banking regulator has tightened regulation of finance companies, ordering those firms that are not licensed finance companies to remove words relating to finance from their names. It is also not applicable to an association of finance companies formed for the protection of their interests, trade unions which are […]
Sri Lanka state airline on yield maximizing drive
Mar 20, 2012 (LBO) – Sri Lankan Airlines is focusing on maximizing yields on its network and shifting capacity from Europe where competition is high to Asia, amid rising fuel prices, chief executive Kapila Chandrasena said. Mihin Lanka, a budget carrier, which shares some services with Sri Lankan is expected to lose around 15 million […]
Sri Lanka business groups oppose UN war crimes resolution
Mar 20, 2012 (LBO) – Sri Lanka’s business chambers have opposed a resolution in the United Nations Human Rights Council against alleged war crimes in the campaign that crushed Tamil Tiger separatists. “The joint Chambers of Commerce of Sri Lanka express concern over the resolution to be tabled at the UNHRC against Sri Lanka,” they […]
Oil Opportunity
Mar 20, 2012 (LBO) – A wide range of business opportunities is opening up for Sri Lankan companies in the emerging hydrocarbon exploration and production programme after two offshore gas strikes by Cairn India, an official said. These range from providing banking and financial services, oil well insurance, risk management, and training to catering services […]
Sri Lanka consumer protection activism seen weak
Mar 20, 2012 (LBO) – Sri Lankan consumer protection activism remains weak because of a lack of awareness and will, leaving consumers vulnerable to the lobbying power of big business and utilities, an official said. The Public Utilities Commission plans to step up its campaign to educate consumers this year. “After making people aware, we […]
Sri Lanka sells US$72mn 3-yr bonds
Mar 19, 2012 (LBO) – Sri Lanka sold 72 million US dollars of three-year bonds at six-month Libor + 385 basis points and 12 million dollars of four-year bonds at Libor +415 bp, the Central Bank’s Public Debt Department said. Both foreign and local commercial banks subscribed bids at the auction, it said. “The offer […]
Sri Lanka shares becalmed despite big deals
Mar 19, 2012 (LBO) – Sri Lankan shares closed barely changed Monday although foreign buying into a local conglomerate pushed turnover up over three billion rupees, brokers said. The main All Share Price Index was stagnant at 5,449.46, while the more liquid Milanka index rose 0. 51 percent (24.83) to close at 4,889.08. Turnover was […]
Luxury Repair
Mar 19, 2012 (LBO) – Colombo Dockyard said it was eyeing yacht repair as a new market after winning work from a French specialist yacht management company, given Sri Lanka’s proximity to the Maldives where many vessels end their cruises. The yard, majority owned by Japan’s Onomichi Dockyard Co. , said it completed repairs on […]
Sri Lanka set to suffer if wheat prices rise: ADB
Mar 19, 2012 (LBO) – Sri Lanka is one of the countries in South Asia whose poor would suffer if prices of commodities like wheat rise further, the Asia Development Bank (ADB) said in a new report. But the study said rapid population growth, changing food consumption patterns linked to higher incomes, and stagnating agricultural […]
Indian market will buy over 1,000 new aircraft by 2030: Airbus
HYDERABAD, March 19 (Asia Pulse) – India will require 1,043 new passenger and cargo aircraft valued at US5 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo. Indian market for new aircraft is the world’s fourth largest in both number […]
Sri Lanka might lose Indian support on war crimes issue: reports
Mar 19, 2012 (LBO) – India might vote against Sri Lanka in the United Nations Human Rights Council which is debating alleged war crimes in the island, news reports quoted Indian prime minister Manmohan Singh as saying. Tamil Nadu political parties have been urging the Indian government to take a strong stand on the atrocities […]