All Blogs
Bank Expansion
Oct, 21, 2011 (LBO) – India’s Axis Bank has opened a branch in Sri Lanka’s capital Colombo eying the island’s growing trade and domestic financing business, the lender said. The Colombo branch was opened by Sri Lanka’s central bank governor Nivard Cabraal, the banks said. Axis Bank had 1,456 branches across India in 953 cities […]
Cash Track
Oct 21, 2011 (LBO) – HSBC launched a cash collection and management service which is useful for for companies that have large numbers of clients who make regular payments, officials said. HSBC’s ‘virtual account’ service allows a company to collect and track receivables based on a client identity tag. “This is useful for utility companies, […]
Fashion Statement
Oct 21, 2011 (LBO) – Sri Lankan fashion retailer Odel’s group net profit for the six months to September 30, 2011 rose 21 percent to 122 million rupees from a year ago driven by higher sales from existing stores and new ones. A note to the accounts said Otone (Pvt) Ltd, a fully owned subsidiary […]
Sri Lanka flight academy opens with simulator
Oct 21, 2011 (LBO) – State-run Sri Lankan Airlines has opened a flight academy commissioning its first Dutch built flight simulator for Airbus A320 aircraft as it ramps up activity as part of the island’s ambitions to become a regional aviation hub. It already has an engineering unit that is attracting third party work. “Today, […]
Atapattu confident Sri Lanka can save Test
ABU DHABI, October 20, 2011 (AFP) – Sri Lanka batting coach Marvan Atapattu insisted on Thursday that his team can save the first Test, despite being punished by a rampant Pakistan batting line-up. Atapattu said the pitch was not conducive for batting initially after Pakistan captain Misbah-ul Haq put them in. “The outfield is not […]
Sri Lanka to improve local government taxation, licensing
Oct 21, 2011 (LBO) – The Asian Development Bank has given Sri Lanka a 59 million US dollar loan to ensure balanced regional development that includes modernising local government taxation, licensing, and approval rules. The ‘Pura Neguma’ Local Government Enhancement Project to be implemented with ADB loan funds is scheduled to be completed by June […]
Sri Lanka disclosure rules help propel rise in business ranking
Oct 21, 2011 (LBO) – Tighter corporate disclosure rules helped propel Sri Lanka up the ease of doing business rankings, moving it closer to the target ranking of 30, a regulator said. According to the ‘Doing Business Ranking’ computed by the World Bank Group, Sri Lanka was ranked 89 of 183 countries in 2012, a […]
Sri Lanka mulls wage limits, industry forum
Oct 21, 2011 (LBO) – Sri Lanka is considering setting a minimum domestic wage and maximum expatriate wage for industries and also creating a forum for industrialists to air their grievances. The proposals were revealed at a meeting with industrialists held organised by the ministry of industry & commerce as part of consultations in preparation […]
Pakistan continue to dominate Sri Lanka
ABU DHABI, October 20, 2011 (AFP) – Pakistan continued to bat Sri Lanka out of the first Test despite losing Azhar Ali in the morning session as they extended their first-innings score to 336-2 in the first Test here on Thursday. Pakistan, resuming their first innings at 259-1 in reply to Sri Lanka’s modest 197, […]
Rock solid Umar makes comeback against Sri Lanka
ABU DHABI, October 19, 2011 (AFP) – Pakistani opener Taufiq Umar on Wednesday notched up a brilliant hundred in the first Test against Sri Lanka, further cementing his place after being in the wilderness for four years. Regarded as Pakistan’s best opener when he hit a hundred in his first Test, against Bangladesh in 2001, […]