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Monday, 19 March 2012

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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.

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'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.

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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.

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CEO, Holcim Lanka Stephen Huber with officials at the launch of Holcim Lanka Ltd's ‘Holcim Extra’ at Water's Edge last Friday
Pictures by Saliya Rupasinghe



 
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