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Sri Lanka tourism daily rate performance ahead of peers: STR
Dec 05, 2016 (LBO) – Sri Lanka’s 15.6 percent increase in the average room or daily rate (ADR) for tourism during the first ten months of the year puts its performance ahead of other countries in Southeast Asia in terms of rate growth, including, India, Thailand, Philippines, Malaysia, Vietnam and Indonesia, STR said in a […]
Vista Rooms simplifies corporate travel bookings, Cuts travel costs by 20-pct
(PRESS RELEASE) – Corporates in Sri Lanka can now sit back and relax when it comes to business travel while Vista Rooms minimizes hassle and streamlines the entire company’s travel itineraries via its one stop shop for corporate travel. Vista Rooms simplifies complex and troublesome booking procedures with a saving of 10-20% on the cost incurred […]
Asia stock funds see pockets of value after Trump sell-off
SINGAPORE, Dec 2 (Reuters) – Donald Trump’s shock election victory last month triggered a sell-off in Asian shares on heightened fears of protectionism – but for some investors, the selling marks an opportunity to buy into the region’s still compelling consumer story. Asian emerging market stocks lost 5.5 percent in the week after the […]
Korea Eximbank discusses Kandy traffic network with RDA
Dec 05, 2016 (LBO) – Export-Import Bank of Korea (Korea Eximbank) has begun supporting the connectivity plan of the traffic network in Kandy city through a knowledge sharing program, with a delegation holding its first workshop last week. Korea Eximbank intends to share the traffic network expansion experience of Korea to strengthen accessibility between Northern […]
‘s Cargills Bank gets Theagarajah as Joint Deputy Chairman
Dec 05, 2016 (LBO) – Sri Lanka’s Cargills Bank has appointed sector veteran Rajendra Theagarajah as the Joint Deputy Chairman. He will be joined by Ranjit Page. “We are cognizant of the exemplary service that Theagarajah has rendered to the banking industry and we are confident that Cargills Bank would immensely benefit from his business […]
Sri Lanka bus operators strike against fines; commuters stranded
Dec 02, 2016 (LBO) – Several private bus unions resorted to an islandwide strike from midnight last night against the budget proposal to increase traffic fines, resulting in a major inconvenience to the public. Sri Lanka Transport Board requested police protection for buses in operation today as several buses had been attacked. General Secretary of […]
Huawei initiates ‘Red Revolution’ with launch of GR5 2017
(PRESS RELEASE) – Huawei, the fastest growing smartphone brand in Sri Lanka, recently unveiled their latest device into their smartphone portfolio through an interesting and attention-grabbing launch segment which took place during the Singer Lifestyle Festival 2016 which was held at the BMICH. With Huawei’s goal on painting the town red with the brand’s launching […]
Fitch affirms Sunshine Holdings at A(lka); outlook stable
Fitch Ratings has affirmed Sri Lanka-based diversified conglomerate Sunshine Holdings PLC’s National Long-Term Rating at ‘A(lka)’. The Outlook is Stable. The rating on the company reflects its exposure to defensive end-markets, strong positions in the markets for its key products and strong free cash flow generation despite short-term pressures faced by some its key operating […]
Sri Lankan rupee gains on exporter dlr sales, subdued importer demand
COLOMBO, Dec 2 (Reuters) – The Sri Lankan rupee was trading marginally higher on Friday as exporters sold dollars while the demand for the greenback from importers was subdued with the year-end festival season setting in, dealers said. Rupee forwards were active while spot-next forwards were at 148.85/95 per dollar at 0603 GMT, compared […]
‘s trade potential
Dec 02, 2016 (LBO) – U.S. and Sri Lankan officials have held three seminars on trade policy to unleash the island’s trade potential, a statement said. The U.S. Department of State, in cooperation with the U.S. Department of Commerce, and Sri Lanka’s Department of Commerce held these seminars with more than 70 decision makers and […]