Category: Industry
Undersea Link
August 21, 2007 (LBO) – Indian telecom operator Bharat Sanchar Nigam Ltd (BSNL) is to increase charges on a submarine cable link with Sri Lanka Telecom that carries voice and data traffic between the two countries. It has also demanded the Indian government withdraw the new service tax and educational tax at 12.5 per cent […]
Guiding Hand
August 21, 2007 Sri Lanka should guide youth to build skills and be more responsive by better awareness of demand conditions, organizers of a national exhibition aimed at matching skills with market needs have said.“We have to create a climate of lifelong learning and provide credible guidance.” “There is a greater responsibility cast on all […]
Banking Wealth
August 20, 2007 (LBO) – National Development Bank’s net profit for the second quarter ending June 30, 2007 shot up 208 percent to 556 million rupees from 181 million in the same quarter of last year. Net other income of the bank, excluding equity income, for the period was 389 million rupees compared with 320 […]
Insurance Profit
Aug 20, 2007 (LBO) – Sri Lanka’s Asian Alliance Insurance has reported a turnaround with a small net profit of 1.5 million rupees being made in the first half ended June, 2007. This compares with a loss of 8.3 million rupees in the same half last year. In accounts posted for the first six month, […]
Market Surgery
August 20, 2007 (LBO) – Sri Lanka’s Asiri Surgical Hospital Monday confirmed it was in talks to buy a big stake in Asha Central Hospital, another hospital firm listed on the Colombo Stock Exchange (CSE). The Sunday Times newspaper quoted Fernando as saying the transaction will be concluded by the end of the month. Updated […]
Afro Factor
August 19, 2007 (LBO) – Sri Lanka™s apparel exports to the United States could get hit if African countries block proposed tariff cuts on exports from developing countries. Bulk of Sri Lanka™s trade falls under World Trade organization rules an international body that is working to put in place a rule based global trading system. […]
India targets 10 million tourists in 2010: report
NEW DELHI, Aug 18, 2007 (AFP) – India aims to double its tourist numbers to 10 million in 2010 when it hosts the Commonwealth Games, a report said Saturday. Indian Tourism Minister Ambika Soni said the numbers visiting the country had grown steadily with 3.92 million tourists in 2005 and 4.43 million in 2006, according […]
Narrower Margin
August 18, 2007 (LBO) – Sri Lanka Telecom (SLT), the island’s only wireline operator, has reported 45 percent lower profits in the June quarter as it sliced 875 million rupees off revenue pending a court decision on a case filed by a consumer organization. SLT reported 560 million rupees of consolidated profits down from 1,000 […]
Natural Harbour
August 18, 2007 (LBO) – Sri Lanka’s eastern port of Trincomalee is to be developed as an eco-port with the emphasis on exploiting its value as a marine habitat, an official said. Sri Lanka Ports Authority (SLPA) chairman Saliya Wickramasuriya said Trincomalee will not be developed for industrial activity or to handle containers. This is […]
Kenya beat Sri Lanka A by two wickets
NAIROBI, Aug 16, 2007 (AFP) – A brilliant 62 from opener Morris Ouma coupled with a patient innings of 24 from captain Thomas Odoyo handed Kenya a thrilling two-wicket win over Sri Lanka A in their tri-series match at the Nairobi Gymkhana on Thursday.Medium pacer Peter Ongondo had earlier restricted the Sri Lankans to 194 […]
Green Revolution
August 17, 2007 (LBO) – Rice farmers in India™s West Bengal made history when they successfully traded carbon credits for cash – with lessons for Sri Lanka taking its first tentative steps in carbon finance. About 33 Indian rice mill owners banded together and agreed to switch from polluting diesel oil they used in their […]
Hospital Play
August 17, 2007 (LBO) – Asha Central Hospitals said Friday several parties were negotiating to buy the controlling stake of the firm after its share price more than doubled to 80 rupees over the week. The firm later bought the property in Norris Canal Road with borrowed funds. More than 80 percent of the company […]