Author: lbostgadmin
‘s Susanthika aims for Olympics
OSAKA, Japan, Sept 1, 2007 (AFP) – America’s Allyson Felix named Beijing Olympics gold as her number one priority after scorching to a morale-boosting win in the world 200 metres final. The defending champion became the first woman to run under 22 seconds in eight years, smashing her personal best with 21.81 seconds as she […]
Uncapped Sri Lanka spinner to replace Muralitharan
Sept 1, 2007 (AFP) – Sri Lankan cricket selectors Saturday picked uncapped off spinner Dilruwan Perera to replace the injured Muttiah Muralitharan in the ICC World Twenty-20 championships in South Africa. “It is with regret we inform our cricket fans that Muttiah Muralitharan has been compelled to pull out of the Twenty-20 World Cup squad […]
Electronic Trade
September 01, 2007 (LBO) – Millennium IT, one of Sri Lanka’s key software developers, has secured the contract to automate the centuries old tea auction system, an official said.Sri Lanka, which is better known for its high quality aromatic tea known by the country’s previous name Ceylon, is made with tender leafs and buds of […]
Top Job
September 01, 2007 (LBO) – The newly set up Bharti Airtel Sri Lanka unit had hired a top Unilever official to head its operation in the island, Lanka Business Online learns. The rest is shared between Mobitel, a unit of fixed operator Sri Lanka Telecom; Tigo, a unit of Millicom International Cellular and Hutch, a […]
Exposure Draft
September 01, 2007 (LBO) – Sri Lanka’s central bank, which regulates the country’s financial system, has sought the views of the banking community on new draft corporate governance rules for banks. “The need for a mandatory code of corporate governance arises due to the significance of the business of banks in the economy and current […]
Ploughing On
September 01, 2007 (LBO) – Fitch Ratings Lanka has confirmed the AAA (lka) rating of HSBC’s Sri Lanka branch with a ‘stable’ outlook, the rating agency said. HSBCSL is the largest foreign bank in Sri Lanka in term of assets and operates 14 branches in Sri Lanka, primarily in the Colombo district. HSBC Sri Lanka […]
Portable Money
Sept 1, 2007 (LBO) – Sri Lanka’s Sampath Bank’s has started an electronic cash transfer method lets account holders transfer cash to all mobile brands or CDMA phone, officials said. “This facility will let customers send money to any person with a mobile phone or a CDMA phone without changing SIM cards. All you need […]
Sri Lanka rupee closes firmer against greenback
September 01, 2007 (LBO) – The Sri Lanka rupee closed firmer against the greenback at 113.00/113.05 Friday trading two days without central bank intervention, giving confidence to the market. The spot dollar closed at 113.12/18 Thursday which was almost flat from the previous day. The rupee had earlier been hit by heavy central bank market […]
‘s mistakes taught Singapore to do different: Lee Kwan Yew
August 31, 2007 (LBO) – The mistakes of Sri Lanka and other newly independent ‘failed states’ made Singapore go in a different direction, its founding prime minister told the International Herald Tribune (IHT) in an interview. Lee Kwan Yew, now minister mentor, said when Singapore broke off from the Malayan Federation it had a hostile […]
Sri Lanka needs stronger laws, value addition to develop gem trade
August 31, 2007 (LBO) – Updating laws on gem mining and trade, value addition and better certification methods will help Sri Lanka to develop the country’s gem industry, officials said. Minister of export development and international trade G L Peiris, opening the Facets2007 gem exhibition said the country’s policy structure that addresses the concerns of […]
Sri Lanka August inflation eases to 17.3%
August 31, 2007 (LBO) – Consumer prices in Sri Lanka’s capital Colombo eased 0.8 percent in the month August, with the 12-month inflation at 17.3 percent from 17.6 percent a month ago, the government’s statistics office said. The food category of CCPI index registered 5,177.3 points or 15.2 percent lower in August 2006, compared to […]
Gas Formula
August 31, 2007 (LBO) – Sri Lanka’s liquid petroleum gas (LPG) prices are to be adjusted every two months on a price formula agreed with the island’s consumer authority, Shell Gas Lanka said. Economic analysts say frequent changes in LP gas prices, which are only used in a third of the households in the country, […]