Category: Industry
Carbon Footprints
July 30, 2007 (LBO) – Global warming is increasingly being recognized as a threat around the world, but the business of carbon trading to reduce global warming could prove a blessing for developing countries. But it is by no means easy money. Developed countries are seen as the main culprits of global warming due to […]
Rating Shuffle
July 30, 2007 (LBO) –The Sri Lanka unit of Rating Agency Malaysia (RAM) said Monday its operations will not be affected by a restructuring of the parent. Lanka Ratings Agency (LRA) said the credit ratings services and consultancy services of RAM had been separated under a regulatory requirement in Malaysia. RAM has been re-named RAM […]
Demotion
July 30, 2007 (LBO) – Fitch Ratings has downgraded the rating outlook of National Development Bank from ‘positive’ to ‘stable’ after a proposed merger with the Commercial Bank was aborted. NDB has an asset base of 65 billion rupees. National Development Bank, originally a development finance institution, merged with NDB Bank, its commercial banking subsidiary […]
English cricket official in Sri Lanka for security assessment
July 29, 2007 (AFP) – A top English cricket official has arrived in Sri Lanka to assess the security of potential venues before a planned tour in the war-torn nation in October.John Carr, from the England and Wales Cricket Board, arrived on Friday to visit all the venues for the matches on a truncated tour. […]
Fashion Tips
July 29, 2007 (LBO) – Popular actress Sangeetha Weeraratne and hairstylist and choreographer Lou Ching Wong are teaming up to give a leg up to wannabe’s waiting to step onto the catwalk. Wong says the school hopes to affiliate with Singaporean grooming schools next year to provide internationally recognized certification that will help students pursue […]
Delayed Action
June 29, 2007 (LBO) – Arpico Finance Company Limited has asked for more time to meet the new regulatory capital requirements of the Central Bank, the credit rating agency, Lanka Rating Agency (LRA) said. It said in a statement that it had reaffirmed Arpico Finance’s long- and short-term ratings at BB2 (with a stable outlook) […]
Flu Scare
July 28, 2007 (AFP) – Sri Lanka on Saturday banned imports of live birds and chickens from India following an outbreak of bird flu in the neighbouring country, an official said. “Sri Lanka has banned imports with immediate effect, after we received reports of an outbreak of bird flu in Manipur, India,” said D.D. Wanasinghe, […]
Deposit Drive
July 28, 2007 (LBO) – People’s Bank is on an aggressive drive to raise deposits this year, with an enhanced target of 30 billion rupees, a top official said. With the re-launch of the bank’s ˜Jayasiri’ low cost mobilisation scheme, People’s Bank is geared to reach the higher target and promote the saving habit in […]
Merchant Assets
July 27, 2007 (LBO) – Fitch Ratings Lanka which affirmed People’s Merchant Bank’s (PMB) long-term BBB (lka) rating Friday said its assets grew 44 percent in the last financial year. The outlook on the rating is stable. “PMB’s rating takes into account its modest profitability and satisfactory asset quality,” Fitch said. It also considered the […]
Sri Lanka apparel group in Spanish tie to boost swimwear fabric flow
July 27, 2007 (LBO) – A new joint venture with a Spain-based firm will fill a gap in synthetic fabric printing capacity, especially in swimwear, Sri Lanka’s MAS apparel group said Friday. The group through its unit, MAS Capital (Pvt) Ltd had inked a deal on July 19 with Textprint S.A of Spain to start […]
Flying Gold
July 27, 2007 (LBO) – A SriLankan Airlines advertising campaign developed by Grant McCann Erickson hit the lime light winning the first gold at the Pacific Asia Travel Association (PATA) Gold Awards.The campaign which focused on the theme ˜home away form home™ bagged the award for the best marketing campaign for an airline. The whole […]
Design Prize
July 27, 2007 (LBO) – A Sri Lankan trust named after renowned architect Geoffrey Bawa has launched a national award with a million-rupee prize to recognize and reward good examples of contemporary island architecture. . Sri Lanka has a lot of young talent in architecture which should be recognized and encouraged, the Geoffrey Bawa trust […]