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 …
Industry
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 …
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 …
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 …
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 …
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 …
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 …
Face Lift
May 10 06 (LBO) - The government planning to re-surface the runway of the main international airport of the country, an official said. Director General of the …
Alien Raid
May 10 (LBO) - Sri Lanka authorities have initiated a major crackdown on illegal foreign labour in the country, starting with workers in foreign owned …
Modest Growth
May 10 (LBO) - Union Assurance Ltd. posted a strong first quarter with profit after tax of Rs34 million as at March this year, over Rs37 million for the same …
High Fives!
May 9, 2006 (LBO) – Sri Lanka's Dialog Telekom's net profits soared 39 percent to 2.39 billion rupees for the three months to March this year, boosted by …
Study Group
May 9, 2006 (LBO) – Sri Lanka inked a letter of intent with India's NEB Infrastructure (Pvt) Ltd to carry out a feasibility study to build a rail-road …
Cancer Aid
May 08 (LBO) - Ceylinco Healthcare Services is to set up Sri Lanka's first private cancer treatment facility by May next year, to treat even advanced cases of …
New Deal
May 08 (LBO) – The Power Ministry said Monday that it would pump in funds to upgrade 100 state held fuel sheds, left over from privatising Sri Lanka's …