Category:
Expansion
Dec 10, 2009 (LBO) – Mphasis, an Indian outsourcing firm, is opening a centre in Colombo which will offer legal, finance and accounting services starting with 600 people in the first stage, as a downturn is ending, officials said.“We have a fairly well established global footprint and with the Colombo office we are expanding it […]
‘s Supreme Court suggests legal prostitution: report
NEW DELHI, December 10, 2009 (AFP) – India’s Supreme Court suggested legalising prostitution as a solution to the rampant sex trade that has flourished despite a raft of laws, a report said Thursday.“When you say it is the world’s oldest profession and when you are not able to curb it by laws, why don’t you […]
Sri Lanka Distilleries in bid re-enter insurance
Dec 10, 2009 (LBO) – Sri Lanka’s Distilleries group said it had applied to the regulator for a license to start an insurance company, after it lost the country’s largest insurer by assets on a court reversal of a privatization deal. The group controlled Sri Lanka Insurance Corporation until last year, when Sri Lanka’s Supreme […]
Sri Lanka alcohol producer to enter insurance business
Dec 10, 2009 (LBO) – Distilleries Company of Sri Lanka said it is seeking regulator clearance to launch an insurance company with a startup capital of 500 million rupees after losing control of a former state-owned insurance company. Distilleries shares opened Thursday trading at 96.00 rupees, after closing the previous day down 75 cents. Distilleries […]
Sangakkara powers Sri Lanka to win
NAGPUR, December 9, 2009 (AFP) – Kumar Sangakkara smashed a career-best 78 off just 37 balls to set up Sri Lanka’s 29-run win in the first Twenty20 international against India here on Wednesday. India paid the price for some sloppy fielding with Yuvraj Singh dropping a sitter at point when Jayasuriya (26) was on two, […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sri Lanka Treasuries move up
Dec 09, 2009 (LBO) – Sri Lanka’s three and six month Treasury bill yields moved up for the second week running, the government’s debt office said, as fiscal policy loosened ahead of elections and private sector credit started to expand. The 3-month yield moved up 11 basis points to 7.51 percent and the 6-month bills […]
Sri Lanka shares close flat
Dec 09, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as investors took profits from recent gains, while high volume trading on John Keells Holdings (JKH) and Nations Trust Bank helped to pushed turnover up, brokers said.The banking sector has been one of the best performers in the last few weeks, so profit taking […]
Executive Care
Dec 09, 2009 (LBO) – Sri Lankan banks have been urged to select their boards of directors with care to ensure they hire capable people with integrity and not just based on friendship or wealth.Attorney general Mohan Peiris, the government’s chief legal officer, said regulatory standards had been toughened in recent years amid heightened public […]
Sri Lanka could use fresh water bodies for premium tourism
Dec 09, 2009 (LBO) – Sri Lankan policy makers should follow the Maldivian example by opening a few dozen of the thousands inland lakes in the country to attract high end tourists willing to pay high premiums for ‘privacy’, a top architect said. “People are willing to pay 200 – 300 dollars on a holiday, […]
Indian IT industry a target for militants: official
NEW DELHI, December 9, 2009 (AFP) – India’s multi-billion-dollar IT software industry is a target for attacks by militant groups, a top home ministry official warned Wednesday. “We are world leaders in software,” Gopal Pillai, India’s home secretary told a conference on the “Challenge of Terrorism to India’s Infrastructure and Economy” in New Delhi. “The […]
Sri Lanka war risk insurance costly, says cruise line
Dec 09, 2009 (LBO) – Sri Lanka’s continued listing for war risk insurance is costly for shipping lines calling at Colombo port, a cruise line official said.Khosa said Louis Cruises is offering cruises starting from an all-inclusive rate of 100 dollars a night per passenger accommodated in a basic cabin, and going up to 250 […]