Category: Industry
Risk Capital
July 09, 2007 (LBO) – At a time when the banking system is moving towards Basle II system, Sri Lanka’s insurance industry could benefit from the risk based capital (RBC) model, an international insurance professional has said. LBO: When you bring in something like RBC does it give you more flexibility to the industry? Webber: […]
After Dark
July 8, 2007 (AFP) – Dubai’s Emirates Airline said Sunday that night flights to Sri Lanka will resume after the end of a curfew in response to Tamil rebel air raids, but other carriers have not followed suit.The rebels, who are fighting for an independent homeland for the tropical island’s minority ethnic Tamils, have bombed […]
Sri Lanka names Twenty20 squad
July 7, 2007 (AFP) – Sri Lanka on Saturday named a 30-man preliminary squad for the inaugural Twenty20 world championships in South Africa in September. Sri Lankan squad: Mahela Jayawardene, Kumar Sangakkara, Dilruwan Perera, Upul Tharanga, Sanath Jayasuriya, Avishka Gunawardene, Mahela Udawatte, Tillakaratne Dilshan, Chamara Kapugedera, Michael Vandort, Jehan Mubarak, Thilina Kandamby, Chamara Silva, Farveez […]
English Penalty
July 07, 2007 (LBO) – Sri Lanka’s television industry aimed at English speakers have sought relief after a penal tax brought by Sinhala teledrama artistes threatened to put them out of business, officials said. The government had collected 160 million rupees and the money has been put in treasury bills Yapa said while a decision […]
Tech Tour
July 06, 2007 (LBO) – A delegation from Sri Lanka’s information technology companies will attend the IT and business process outsourcing (BPO) summit in India to gain insights on developing the trade, Sri Lanka’s ICT Agency said. ICTA – a state agency – plans to lead the delegation to the NASSCOM IT-BPO Strategy Summit 2007 […]
Workers Money
July 06, 2007 (LBO) – The managers of Sri Lanka’s largest private sector retirement fund have responded to criticism that its money is being used to fund government expenses, saying funds are invested under professional advice. “The process engages all the hidden forces of economic law on the side of destruction, and does it in […]
Hard Drive
July 06, 2007 (LBO) – Sri Lanka Insurance Corporation (SLIC) says is aggressively chasing the motor insurance sector, an official said. SLIC says its overall premium is showing a growth of about 30 percent with the last two quarters as a result of adopting aggressive marketing techniques. “New blood has given life to the products […]
Smooth Payments
July 06, 2007 (LBO) – South Asian countries need to modernise their payments systems to cope with rapidly increasing cross border trade and investment flows trigged by faster economic growth, a senior central banker said Friday. “Trade and investment flows and demand for financial services will exceed the present levels over the next couple of […]
‘t Open
July 06, 2007 (LBO) – Opening up Sri Lanka’s electricity sector to foreign competition under international free trade rules that are being negotiated could be dangerous, a senior engineer has warned. Commitments Sri Lanka might make under the General Agreement on Trade in Services (GATS), a multinational agreement covering trade in services, could be irrevocable, […]
Bangladesh go down fighting as Sri Lanka clinch series
July 5, 2007 (AFP) – Sri Lanka saw off a record stand between two young Bangladesh batsmen to win the second cricket Test by an innings and 90 runs with two days to spare on Thursday. Bangladesh, trailing by 389 runs in the first innings, were bowled out for 299 in the final session of […]
No Deal
July 05, 2007 (LBO) – Sri Lanka’s construction industry has successfully lobbied the government to defer the liberalisation of construction and related services under a free trade deal with India, an official said. The industry is not wholly against the idea of liberalising services but wants to protect local players until they are ready to […]
Joint Effort
July 05, 2007 (LBO) – Senior officials from South Asian central and commercial banks will meet in the Sri Lankan capital Colombo Friday to discuss the setting up of a regional payment system, the country’s central bank said. Officials of regional central banks as well as the World Bank and Bank for International Settlements are […]