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Nomadic Mode
June 15, 2010 (LBO) – Mobile phone payment and music are among applications likely to be popular in south Asian countries like Sri Lanka where local-language content and catering to rural consumers are also important, an industry analyst said. “Designing for mobile consumers is the key rather than designing for mobile technology,” said Dileeka Dias, […]
Sri Lanka to crack down on plastic use around capital
June 15, 2010 (LBO) – Sri Lanka’s western province, where the capital Colombo is located will crack down on the use of plastics and polythene, especially for promotional activity and decorations, officials said. The regional administration is drafting new laws to ban the use of polythene for promotional purposes and impose heavy fines on people. […]
” India trade deal
June 15, 2010 (LBO) – Sri Lanka’s main opposition United National Party is not opposing an enhanced trade liberalization deal with India, but wants transparency and a parliamentary debate to clear doubts, a lawmaker said. The CEPA deal hopes to build on a 10-year-old existing India-Sri Lanka Free Trade Agreement. Over the last decade trade […]
Top UN official to visit Sri Lanka this week
UNITED NATIONS, June 14, 2010 (AFP) – UN chief Ban Ki-moon’s top political adviser will visit Sri Lanka this week to discuss political reconciliation, resettlement of minority Tamils displaced by ethnic strife and human rights, a spokesman said Monday. The world body estimates that up to 100,000 people died in Sri Lanka’s Tamil separatist conflict […]
Sri Lanka next forex liberalization wave after budget
June 15, 2010 (LBO) – Sri Lanka will see the next wave of foreign exchange liberalization after the budget, which is due at the end of June, Central Bank Governor Nivard Cabraal said. “Regulations are being drafted,” Cabraal said. “As soon as the regulation are drafted and tested we will announce them. The next set […]
Sri Lanka stocks close 1.13-pct up
June 14, 2010 (LBO) – Sri Lankan shares closed at a new high passing 4,600 points on the benchmark index Monday, pushed up by selected index-heavy blue chips, while retail investors took profits on mid and small-cap stocks, brokers said. The All Share Price Index closed at 4,612. 76, up 51.43 points, while the Milanka […]
Bank Numbers
June 14, 2010 (LBO) –Indian Bank’s March quarter profits rose 32.4 percent to 296.3 million rupees on lower operating costs and reversals on provisions, while net interest margins shrank from lower interest income and dud loans rose, its accounts showed. In the March 2010 quarter, the Sri Lankan unit of Indian Bank said interest income […]
Trade Debate
June 14, 2010 (LBO) – The recent protests in Colombo by a vocal group of businesses have brought to the fore the issue of Comprehensive Economic Partnership Agreement (CEPA) and its merits and demerits in the Sri Lankan context. Any independent observer will agree that the debate has got shrouded in emotion, and at times, […]
Virtual Ad
June 14, 2010 (LBO) – Sri Lanka’s Triad Advertizing has launched Triadhot.com, a virtual advertising agency, to service global clients’ online advertizing at lower cost than existing international competition, a statement said. The agency would offer research, strategies, creative ideas, storyboards and jingle scripts on demand for its customers, it said. Triadhot.com would be based […]
Mobile Move
June 14, 2010 (LBO) – Etisalat’s Sri Lanka unit has invited developers to create mobile applications and is offering to share 70 percent of revenue from sales, an official said. Dumindra Ratnayaka, chief executive of Etisalat Sri Lanka said the firm, which was taken over by Etisalat Telecommunication Corporation in the UAE in February 2010, […]