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Sri Lanka tourist arrivals up 46-pct in January
Feb 15, 2011 (LBO) – Tourist arrivals to Sri Lanka in January 2011 rose 46.2 percent to 74,197 with Western Europe generating 32,627 and India being the single most important country with 13,786 visitors. Visitors from Western Europe who are important for the country’s beach resorts rose 53.7 percent from a year earlier maintaining the […]
Briton arrested after Sri Lankan airline bomb hoax
February 14, 2011 (AFP) – Police in the Maldives arrested a British man Monday after he caused a bomb scare aboard a SriLankan airlines flight from London that was diverted to the atoll nation, an official said. The flight was heading for Sri Lanka’s capital Colombo but was forced to land in the Maldives where […]
Maldives free British man after mid-air bomb scare
February 15, 2011 (AFP) – Maldives police have released a British man accused of sparking a bomb scare on a SriLankan Airlines flight, a spokesman said Tuesday, explaining he had been misunderstood by cabin crew. The airline faced attacks during Sri Lanka’s 37-year civil war that pitched Tamil Tiger rebels against government troops. Fighting ended […]
Sri Lanka domestic aviation eyed by US aircraft maker
Feb 15, 2011 (LBO) – US aircraft Cessna is eyeing Sri Lanka’s fledgling domestic aviation industry after the end of a 30-year war has prompted liberalization of the sector and a tourism boom is increasing demand for international flights. “Because of the stability and peace in the country Sri Lanka now has a moment where […]
Sri Lanka flood victims to get EU aid
Feb 15, 2011 (LBO) – Sri Lanka’s flood victims, some of whom were recovering from a recent war will get 105 million rupees (700,000 euros) of food aid from the European Union through the World Food Program. “The needs of the flood-affected communities are great and WFP still faces considerable shortfalls in our funding” WFP’s […]
Sri Lanka Treasuries yields steady
Feb 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the three-month yields were steady at 6.99 […]
Sri Lanka shares surge on palm oil hopes
Feb 14, 2011 (LBO) – Sri Lankan shares surged to a new high Monday as investors continued to buy into firms with oil palm plantations anticipating higher earnings on high commodity prices, brokers said. The All Share Price Index closed at 7,811.82, up 2.97 percent (225.19 points) while the more liquid Milanka index fell 0.15 […]
Mobility Monitor
Feb 14, 2011 (LBO) – Car imports into Sri Lanka shot up by 300 percent to 23,072 in 2010 after the government slashed import duty and also because of rising demand after the end of a war, a government statement said. It said the number of cars registered with the motor traffic department in 2009 […]
Finance Quality
Feb 14, 2011 (LBO) – Sri Lanka’s registered finance companies (RFCs) are gradually recovering from the weakened economic climate that prevailed in 2008 and 2009, a ratings report said. RAM Ratings (Lanka) said the sector has benefitted from falling interest rates which has increased margins due to deposit rates falling faster than rates on loans. […]
Bank Numbers
Feb 14, 2011 (LBO) – The December 2010 quarter net profit at Sri Lanka’s Sampath Bank almost doubled to 1.4 billion rupees from a year ago with basic earnings per share up 96 percent to 8.84 rupees, a stock exchange filing said. Interest income fell 9.8 percent to 4.7 billion rupees and interest expenses fell […]
Sri Lanka Aitken Spence Hotels net up on interest
Feb 14, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotels, which also has operations in the Maldives, said net profit for the December quarter was up 30 percent to 272 million rupees, with revenues growing 5. 0 percent 2.0 billion from a year earlier. But operating profits fell 9.0 percent to 351 million during the […]
Sri Lanka reservoirs may need larger sluice gates, canals
Feb 14, 2011 (LBO) – Sri Lanka’s reservoirs including those planned or under construction may have to be re-designed with larger spill gates and canals to evacuate excess water following recent rare floods in quick succession this year, officials said. Sri Lanka’s Mahaweli river valley agency, which controls 12 large reservoirs says its network is […]