High Speed
May 22, 2006 (LBO) – Sri Lanka Monday offered mobile operators the chance to set up a next generation or third generation mobile phone network, with aim …
Industry
Getting Co-operation
May 22, 2006 (LBO) – More than 25 co-operative societies have responded positively to the government's call to revamp their banking units, Commissioner …
Sri Lanka tourism stays steady in April, despite local violence
May 19 (LBO) – Tourist traffic to Sri Lanka stayed steady in April to reach 46,000 travelers, despite ongoing political instability and civil unrestthe …
Bigger Footprint
May 19 (LBO) – Dialog Telekom, a unit of Telekom Malaysia, Friday kicked off a 150 million dollars expansion drive to grow its mobile and broadband …
Sinking Further
May 17 (LBO) – Petroleum retailer Lanka IOC, Friday reported a 7.1 billion rupee loss for the year ended March 31, as the Sri Lankan government fail to …
Aitken Spence on the brink of picking up their fourth Maldivian resort
May 18 (LBO) – Sri Lanka's Aitken Spence & Company is currently wrapping up a deal to pick up their fourth Maldivian resort, a top company official said …
Making Progress
May 18 (LBO) – Software solutions company KingsLake together with Progress Software Corp., launched a new version of its Open Edge software on Wednesday …
Good Windfall
May 18, 2006 (LBO) – Sri Lanka's NDB Bank Thursday reported a 585 percent jump in first quarter profits boosted by capital gains from the partial equity …
Tough Call
May 17 (LBO) – Expensive telephone calls and tough labour laws could scare off multinational companies eyeing Sri Lanka as a possible destination to …
Disappointing Year
May 17, 2006 (LBO) – Sri Lanka's Hayleys Ltd Wednesday reported a 24 percent drop in net profits for the financial year ended March 31, due to higher …
Quantum Leap
May 17, 2006 (LBO) – Runaway global oil prices is expected to cost Sri Lanka 2,250 million dollars this year, the government said Wednesday, in a broad …
John Keells pays US$ 21 mn for new Maldivian resort
May 16, 2006 (LBO) – Sri Lanka's John Keells Holdings said Tuesday that they have paid 21.8 million dollars to secure Maldivian based Dhonveli Beach & …
Delayed Flight
May 16 (LBO) – The Sri Lankan government is to hold a fresh round of talks with Emirates Airlines next month, on extending the management contract with …
Lame Excuse
May 16 (LBO) – A top economist tells Sri Lanka not to delay petroleum pricing reforms by taking cover behind potential oil reserves. Sri Lanka is a net …
Solid Innings
May 15, 2006 (LBO) – Sri Lanka Telecom (SLT) said Monday, group net profits for the first quarter of 2006 topped 1.3 billion rupees, despite continued …
Road Runner
May 11 (LBO) - Sri Lanka is to begin work on the Colombo-Katunayake toll road this month tying up a construction deal with China Metallurgical Construction …
New Wing
May 11 (LBO) – The government has given state oil giant Ceylon Petroleum Corporation the go ahead for a feasibility study to double capacity at its …
Breaking Ground
May 11 (LBO) – Sri Lanka began construction of it first coal power plant on Thursday in Norachcholai on the island's West Coast, amidst protests by …
Flying Low
TOKYO, May 10, 2006 (AFP) - Japan Airlines Corp, Asia's largest carrier, said Wednesday high fuel costs and a series of safety lapses pushed it deep into loss …
Hard Times
May 10 (LBO) - Domestic airlines say soaring fuel costs may force a hike in ticket fares, but any increase may also scare away dwindling numbers of travellers …