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Luxury resort and spa chain Banyan Tree shelves plans for Sri Lanka
SINGAPORE, September 20 (LBO) –Singapore-based luxury resort and spa chain Banyan Tree has shelved plans for Sri Lanka, as the leisure industry takes a beating amidst an upsurge in violence. The luxury leisure operator recently opened a spa at Cinnamon Grand Hotel in Colombo, besides a managing the Deer Park Hotel in Giritale under its […]
Airlines, tour operators see no disruption in Sri Lankan traffic to Thailand after coup
Sept 20 (LBO) – Tourist and business traffic from Sri Lanka to Thailand is expected to go on as normal following a military coup there, with few inquiries and cancellations, tour operators and airlines said. Thailand is popular among Sri Lankans as a leisure and shopping destination for with business travel contributing. Our operations will […]
Private Space
Sept 20 (LBO) – The government has offered private traders space on board state chartered vessels carrying food to war torn Jaffna on possible commercial terms, to build up a buffer stock ahead of monsoon rains in November that would make passage difficult. The government has been sending essential food items like rice to the […]
Live Trading
Sept 20 (LBO) – Sri Lanka’s Millennium Information Technologies (MIT) said Wednesday it had developed an automated trading system for the Nairobi Stock Exchange. Live trading began on September 11 with the new system, resulting in record trading volumes of 3761 trades compared to 759 trades on the same day the year before, MillenniumIT said […]
Talk Cheap
Sept 20 (LBO) – Payphone operator Tritel Services Limited said Wednesday it would slash outgoing call charges by 33 percent, expanding reach into rural markets. œOur priority focus is on rural communities as well as the less affluent urban community who find fixed telephony and mobile services too expensive and out of their reach, Ananth […]
The corporate takeover that triggered a coup
SINGAPORE, Sept 20, 2006 (AFP) – The overthrow of Thai Prime Minister Thaksin Shinawatra marked the culmination of a crisis partly triggered by the controversial Singaporean takeover of a major conglomerate from his family.Singapore’s state-linked investment firm Temasek Holdings bought 49 percent of the Thaksin family-controlled telecom giant Shin Corp. in January for nearly 1.9 […]
Three dead and curfew in Northeast Sri Lanka
COLOMBO, Sept 20, 2006 (AFP) – Three people were shot dead by unidentified gunmen in northeast Sri Lanka, police said Wednesday, and a curfew was put in place in a nearby town following an earlier massacre of 10 Muslim men.Tamil rebels have waged a drawn-out insurgency for a separate ethnic homeland in Sri Lanka, a […]
Advertisers take advantage of tighter Sri Lanka security
COLOMBO, Sept 20, 2006 (AFP) – The fear of bomb attacks in Sri Lanka following an upsurge in violence has spawned extra security checks, making daily life more difficult, but the hassle has also created unexpected marketing opportunities, according to advertising specialists. At road-blocks, for instance, prominent adverts for products such as the pain-killer “Panadol” […]
End bloodshed to restore Sri Lanka business confidence: IMF-WBank
SINGAPORE, Sept 20, 2006 (AFP) – Sri Lanka has shown economic resilience but needs to end violence to restore much-needed business confidence, the World Bank and IMF said Wednesday. The South Asian nation forecasts a blistering 8.0 percent growth this year, the biggest in nearly three decades, despite soaring violence that has claimed more than […]
Sri Lanka to lead South Asian initiative to study impact of oil prices
SINGAPORE, September 20, 2006 (LBO) – Sri Lanka is leading a South Asia initiative to study the impact of oil prices and its effects on macro economic policies, Bangladesh’s Central Bank governor said. Finance misters of the South Asian Association for Regional Corporation (SAARC) – an eight member regional grouping – who met on the […]
Commercial potential of cricket remains untapped
KUALA LUMPUR, Sept 19, 2006 (AFP) – Asia remains a vast area of untapped commercial possibility for cricketing authorities but all the elements are in place for this to change.That’s the way Asian Cricket Council (ACC) chief executive Syed Ashraful Huq sees the future for a sport he believes is on the cusp of being […]
Sri Lanka civilian killings on the rise: rights group
NEW YORK, Sept 19, 2006 (AFP) – Sri Lanka’s government and Tamil Tiger rebels have stepped up killings of civilians in a surge of violence this year that has shattered gains made under a 2002 ceasefire, a leading rights group said Tuesday. More than 60,000 people have been killed in Sri Lanka’s Tamil separatist conflict […]