SriLankan on break even path
SriLankan Airlines can financially break even by
2014 predicted, Chief Operating Officer, SriLankan Airlines, T.
Jayaseelan. A stalwart in the aviation sector with over 20 years
experience in the trade , Jayaseelan said that the airline is on a
five year recovery plan and should look at making profits by 2015.
'Cost reduction could mitigate currency devaluation impact'
Currency devaluation has posed challenges for
certain sectors and this has called for vigorous cost reduction
strategies to mitigate the negative impact. The reduction in
absolute value perspective is large in the downward revision in the
growth forecast for this year. However, the sound macro economic
environment in place will support the business growth despite the
adverse external factors, Chevron Lubricant Lanka Managing Director
and CEO Kishu Gomes told Daily News Business. As the country is
heavily dependent on imports, currency devaluation may lead to rise
in inflation thus raising the cost of production by having a
negative impact on disposable income. Our venture being a non
petroleum producing entity, profitability will affect in the long
run, he said.
US $ 5 m Colombo Courtyard, opens
Colombo Courtyard , a US $ 5 million investment
by Auro Holdings (Pvt) Ltd as their second hotel in Colombo 03
opened last Friday. Colombo Courtyard, the urban boutique hotel in
Colombo situated at Alfred House Avenue, has 33 keys with 26 suites.