Author: lbostgadmin
Ancient Wisdom
Sept 28, 2007 (LBO) – Five traits described in Buddhism which do not help achieve goals in life are also well suited for business and management, a top Sri Lankan management professional said. Restlessness, arrogance, procrastination, indulgence and doubt are traits that cloud one’s mind and judgment when trying to achieve goals. “These five are […]
No Rules
Sept 28, 2007 (LBO) – Sri Lankan shippers complain of government inaction in bringing anti-price fixing rules for shipping while India is moving against shipping lines accused of acting like cartels. The Shippers’ Council said they have now been forced to take court action to prod the government into action. “India is taking steps to […]
Cargo Logistics
Sept 27, 2007 (LBO) – Sri Lanka’s Hayleys conglomerate Thursday announced a new brand for its supply chain management business saying it wanted to expand in the Asia-Pacific market and had opened new offices in India and the USA. The group’s cargo logistics services will now be sold under the ‘Civaro’ brand which will bring […]
Breakwater Contract
Sept 28, 2007 (LBO) – Sri Lanka has picked Hyundai, a Korean firm, to build a breakwater in Colombo that will allow terminal operators to nearly double the container handling capacity at the Port, an official said. The 320 million dollar contract will be awarded to Hyundai if Asian Development Bank, the concessional lender to […]
Sri Lankan stocks tumble after opening higher, markets await rate decision
Sept 28, 2007 (LBO) – Sri Lankan stocks tumbled soon after opening with brokers saying investors were largely inactive, as markets awaited a money policy announcement later in the day.There was only 43 million rupees turnover on the Colombo bourse around mid-morning with the All Share Price Index down 4.91 points or 0.19 percent and […]
Sri Lankan vegetable oil exporters demand removal of import tax
Sept 27, 2007 (LBO) – Exporters of ‘vanaspathi’ vegetable oil to India have called on Sri Lanka to remove a 25 dollar per tonne levy on raw material imports, if the industry is to survive. India has already imposed a quota for the product, to protect a domestic industry. Vanaspathi a type of hydrogenated vegetable […]
Northern Power
Sept 27, 2007 (LBO) – A Malaysian firm which has bought a listed construction firm in Colombo has said it had bought an independent power producer (IPP) which will supply Sri Lanka’s northern Jaffna peninsula. MTD has also been interested in an expressway Sri Lanka hopes to build between its capital Colombo and the central […]
Row over Sri Lanka stadium ahead of England tour
Sept 27, 2007 (AFP) – Sri Lanka’s tsunami-hit cricket stadium at Galle is embroiled in a heritage row as it races to host the final Test of the England tour in December, officials said Thursday.Jayananda Warnaweera, the curator overseeing its reconstruction, said conservationists had objected to a new building at the stadium that could obstruct […]
Microsoft livens up Live Search to battle Google and Yahoo
MOUNTAIN VIEW, California, Sept 27, 2007 (AFP) – Microsoft on Thursday began phasing in a slick new version of its Live Search service in a bid to gain ground on leading Internet search rivals Google and Yahoo. Microsoft’s improved Live Search will be available throughout the United States in a week and globally by the […]
Euro hits record high 1.4166 dollars
LONDON, Sept 27, 2007 (AFP) – The euro set another record high against the dollar on Thursday as dealers waited nervously for the latest round of data on the United States economy. The European single currency hit 1.4166 dollars, beating its previous record of 1.4162 that was set on Wednesday. Dealers said the foreign exchange […]
Auditors PWC loses tax appeal in Russia
MOSCOW, Sept 27, 2007 (AFP) – The Russian subsidiary of Pricewaterhouse Coopers, an international accounting firm, lost an appeal on Wednesday against a back tax bill of 10.4 million dollars (7.4 million euros). In a separate case earlier this year, PWC was found guilty and ordered to pay a fine for helping Yukos to avoid […]
Sad Ending
Sept 27, 2007 (LBO) – Sri Lanka’s new company law has made it easier to start new ventures but winding up procedures are still cumbersome, a new World Bank study has said. In countries where bankruptcy is inefficient, unviable businesses linger for years, keeping assets and human capital from being reallocated to more productive uses, […]