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Sri Lanka airline ups business class with flatbeds
Dec 08, 2011 (LBO) – Sri Lanka’s state-run SriLankan Airlines has started a 15 million US dollar upgrade of its long-haul business class product with flatbeds and personalized entertainment system, officials said. The loss-making state carrier is to get a 100 million dollar injection from tax payers this year. The airline is hoping to break-even […]
Sri Lanka food freedoms under fresh threat: report
Dec 08, 2011 (LBO) – Sri Lanka’s Prime Minister D M Jayaratne had asked for a complete ban on fruit imports and asked for the price of wheat flour to be increased to a level people “could not afford”, a media report said. Farmers in countries like Pakistan produce better quality fruits than in Sri […]
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Dec 07, 2011 (LBO) – Sri Lanka’s state-run water supply agency has found about 15,000 suspected points where water is stolen in the island’s capital Colombo where 48 percent of the supplied water brings no revenue, an official said. About 30 percent of Sri Lanka’s Water Supply and Drainage Board is ‘non-revenue’ water but in […]
Sri Lanka Treasuries yields edge higher
Dec 07, 2011 (LBO) – Sri Lanka’s Treasuries yields increased across maturities at Wednesday’s auction with the average 12-month yield topping 9.0 percent for the first time in over 17-months official data shows. The 3-month yield rose 8 basis points to 8.28 percent, the 6-month yield rose 6 basis points to 8.56 percent and the […]
Sri Lanka stocks end up 0.7-pct
Dec 07, 2011 (LBO) – Sri Lankan closed higher Wednesday, swinging back over the 6,000 point mark although trading was thin, brokers said. Orient Garments was the most actively traded stock, accounting for the second highes turnover and closing at 36. 80 rupees, down 3.50, with 2.77 million shares done. It hit a day’s high […]
Port Traffic
Dec 07, 2011 (LBO) – Sri Lanka’s road development agency is to build a flyover at the main entrance to Colombo port to ease traffic congestion caused by container trucks, a port official said. The island’s imports and exports have increased with economic growth accelerating to eight percent a year after the end of its […]
Fairmont eyes 40 hotels in India in five years
NEW DELHI, Dec 7 (AsiaPulse) – Hospitality firm Fairmont Hotels and Resorts plans to operate about 40 hotels in India in the next five years across its three brands — Fairmont, Raffles and Swissotel. “In the next 5-6 years, our strategy is to operate up to six hotels under Raffles brand, about 8 to 12 […]
India may award oil blocks next March
NEW DELHI, Dec 7 (AsiaPulse) – The Indian government is likely to award oil and gas blocks offered for bidding in ninth round of New Exploration Licensing Policy (NELP) by March next year, eight months behind schedule. “Some blocks (offered in NELP-IX) were held up due to security issues. By March next year, most of […]
Sri Lanka carrier plans Nepal, Bangladesh flights, Indian frequencies up
Dec 07, 2011 (LBO) – State-run Sri Lankan Airlines is planning flights to Nepal and Bangladesh in 2012 and is increasing frequencies to India from December 23, the carrier said in a statement. Flights to Chennai will increase to four frequencies a day or 28 a week, from December 23. “We are developing Colombo into […]
Sri Lankan companies get faster visas for UK visits
Dec 07, 2011 (LBO) – The British High Commission has launched a fast track visa pilot scheme for 20 selected companies in Sri Lanka which do regular business with the United Kingdom. Thomas Greig, Regional Director of the UK Border Agency said the UK Border Agency and UK Trade and Investment are working together to […]
Sri Lanka lifts limit foreign Treasuries holdings
Dec 06, 2011 (LBO) – Sri Lanka has raised a limit on the foreign holdings on Treasury bills to 12. 5 percent of outstanding government debt from 10 percent, the Central Bank said, amid rising interest pressure from the defence of a dollar peg. The raising on the foreign Treasuries holdings limit will increase “resource […]
Sri Lanka stocks becalmed
Dec 06, 2011 (LBO) – Sri Lankan stocks closed almost stagnant Tuesday, after breaching the 6,000 point mark the day before, with trading also thin, brokers said. The main All Share Price Index fell 0.12 percent (7.27 points) to 5,988.65, while the more liquid Milanka index was stagnant, edging up 0.01 percent (0.44 points) to […]