Joint Stock
LONDON, February 9, 2011 (AFP) - The London and Toronto stock exchanges announced a landmark merger on Wednesday to create a one of the world's biggest trading …
Industry
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Appointment
Feb 09, 2011 (LBO) - Sri Lanka's Seylan Bank has appointed Tilan Wijeyesekera an industry veteran with experience in financial services and consumer goods, to …
Road Bill
Feb 09, 2011 (LBO) - Sri Lanka will need 55.6 billion rupees (500 million US dollars) to make emergency repairs and fully re-build roads damaged in record …
Sri Lanka Lighthouse profits up, in deal with boutique hotel
Feb 08, 2011 (LBO) - Sri Lanka's Lighthouse Hotel has seen December 2010 quarter profit rise sharply from a year ago amid a tourism boom and has struck a deal …
Sri Lanka tourism product needs facelift to justify price hikes
Feb 08, 2011 (LBO) - Sri Lanka needs to improve the quality of its tourism product and infrastructure to further increase room rates after a post-war rise in …
Five Saudis charged after drunken forced landing in Sri Lanka
February 7, 2011 (AFP) - Five Saudi Arabian nationals appeared in court in Colombo on Monday after their allegedly drunken misbehaviour on board a flight from …
Sri Lankan Airlines signs wage deal with aircraft technicians
Feb 08, 2011 (LBO) - SriLankan Airlines has signed a new three-year wage agreement with the union representing aircraft technicians, as it expands its fleets …
Sri Lanka plans US$90mn sale of east coast land
Feb 07, 2011 (LBO) - Sri Lanka will lease 500 acres of land in the east coast to hotel developers on a one-off payment for around 10 billion rupees (90 million …
Sri Lanka island resort project off, says Six Senses
Feb 07, 2011 (LBO) - International luxury hotel chain Six Senses has pulled out of a deal to manage a resort being built on an islet off Sri Lanka's north-west …
Sri Lanka Continental Hotel cuts losses
Feb 07, 2011 (LBO) - Sri Lanka's Continental Hotel, bought by the Hayleys conglomerate last year, has reduced its losses in the December 2010 quarter which …
Oil Spike
SINGAPORE, February 7, 2011 (AFP) - Brent crude prices surged above 100 dollars in Asia on Monday as major regional equities clocked strong performances in …
Gas Blast
Feb 04, 2011 (LBO) - Repair work on vessels in Colombo Dockyard is continuing uninterrupted after an accidental explosion caused by leaking gas that injured 14 …
Sri Lanka apparel industry shrugs off loss of trade benefit
Feb 03, 2011 (LBO) - Sri Lankan apparel exporters are getting enough overseas orders and not been affected as badly as feared by the loss of duty free access …
Transport Lease
Feb 03, 2011 (LBO) - Sri Lanka's SMB Leasing (SMBL) and Lanka Ashok Leyland (LAL) have begun importing luxury tourist coaches amid a boom in tourist arrivals …
Rating Upgrade
Feb 03, 2011 (LBO) - Fitch Ratings Lanka has upgraded Vallibel Finance's (VFL) rating to 'BB-(lka)' from 'B+(lka)' with a stable outlook, a statement said. …
Red Ink
Feb 03, 2011 (LBO) - Sri Lanka's The Finance Company, being restructured under regulatory supervision, has managed to reduce losses in the December 2010 …
Sri Lankan Airlines starts flights to fourth Chinese city
Feb 03, 2011 (LBO) - Sri Lankan Airlines has begun flights to the Chinese city of Guangzhou (Canton), the national carrier's fourth destination in China, a …
Bank Issue
Feb 02, 2011 (LBO) - The Colombo Stock Exchange has approved a public share offer by Sri Lanka's Union Bank to raise 375 million rupees by issuing 15 million …
Islamic Banking
Feb 02, 2011 (LBO) - The Monetary Board of the Central Bank of Sri Lanka has given a commercial banking license to Amana Bank, a statement said. Islamic …
Sri Lanka fabric maker in Rs626mn December quarter loss
Feb 02, 2011 (LBO) - Sri Lankan fabric maker Hayleys MGT Knitting Mills made a loss of 626 million rupees (5.6 million US dollars) in the December 2010 quarter …