Category: Industry
Sri Lanka to host Asian Rugby tournament
COLOMBO, July 26, 2007 (AFP) – Sri Lanka has been confirmed as host of the Asian Rugby championship in November after the world governing body was assured of the players’ safety, a top official said on Thursday.Dilroy Fernando, the chief executive officer of the Sri Lanka Rugby Football Union, said the International Rugby Board (IRB) […]
Flat Profits
July 26, 2007 (LBO) – Dialog Telekom, Sri Lanka’s largest celco saw consolidated net profits dip by a marginal 3 percent in the June quarter as start-up costs of a new pay TV division dragged the group bottom line down. “DBN will expand its fixed wireless operation into four more districts including Colombo, during the […]
Easy Dollars
July 26, 2007 (LBO) – Sri Lanka has relaxed foreign currency transactions in the country by allowing money changers to sell as well as buy forex and also relaxed rules on operating non-resident foreign currency accounts. The Central Bank, which regulates the industry, said in a public notice that nine money changers out of 62 […]
Flying Elephant
July 25, 2007 (LBO) – SriLankan Airlines has started to serve a popular ice cream brand of the island on its flights to India as part of a strategy to boost the variety foods on its flights, the national carrier said. The short-haul flights to India are a key spoke in the carrier’s international network […]
Renaissance
MCCLEAN LAKE, Canada, July 24, 2007 (AFP) – Twenty years after the Chernobyl disaster poisoned the world’s taste for reactors, a French firm is sniffing out fresh uranium supplies in Canada.And the race for nuclear power is back on.After the deadly Chernobyl reactor explosion in Ukraine in 1986 and a lesser scare at the Three […]
‘s easy win
July 23, 2007 (AFP) – Sanath Jayasuriya became the first player to achieve the one-day double of 10,000 runs and 300 wickets as Sri Lanka thrashed Bangladesh by five wickets here on Monday. The 38-year-old veteran gave an impressive all-round performance, taking 4-31 before making 24 to help the home side take an unbeatable 2-0 […]
Sea Guard
July 24, 2007 (LBO) – Tough security measures at Colombo harbour are causing delays both on the sea side as well as the land side, prompting port customers to take up the matter with the authorities. Shipping line executives and shippers say they do not mind the tough security measures put in place to thwart […]
More Cash
July 23, 2007 (LBO) – Commercial Bank of Sri Lanka has more than doubled the limits on cash withdrawals from automated teller machines (ATMs) and increased limits on debit card purchases. “The increase in the point-of-sale limit on our debit cards will enable our customers to carry out high value transactions provided the necessary funding […]
Another Problem
July 23, 2007 (LBO) – The sudden recall of Sri Lanka’s envoy in Saudi Arabia may affect the case of a teenager on death row, a rights body which championed her cause said Monday in an open letter to President Mahinda Rajapkse. AHRC said it hoped the case of Rizana Nafeek may serve as a […]
Money Probe
July 23, 2007 (LBO) – Money laundering investigators say authorities are probing activities of Goldquest in Sri Lanka but details could not be released because there was no legal provision to do so. Officials had claimed earlier in the seminar that money laundering through the financial system could turn away genuine foreign investors. “Goldquest investigations […]
Red Light
July 24, 2007 (LBO) – Sri Lanka’s bank regulators have shot down an attempt to appoint a common directorate to two state banks which had their origins in election promises, but are now trying to consolidate to conserve capital, officials said. Vimasuma.com Newsdesk The government is planning to amalgamate a state bank created to give […]
Small Cover
July 22, 2007 (LBO) – Sri Lanka should focus on giving insurance to the poor, regional experts in micro insurance say, with rural populations a largely untapped market. At present, insurance penetration in most South Asian countries is less than 10 percent, leaving over 90 percent of the market untapped. Two micro insurance specialists from […]