Category: Industry
No More
August 2, 2007 (LBO) – Eminent banker Pelanage Amarasinghe passed away on Wendesday August 01.He has served Sri Lanka’s banking sector for over 36 years as a central banker and later also in commercial banks. He retired from the Central Bank of Sri Lanka after becoming its Deputy Governor and was a former chairman of […]
Super Profits
August 02, 2007 (LBO) – Sri Lanka’s Commercial Bank reported net profit for the second quarter ended June 2007 shot up 52 percent to 1.1 billion rupees from 753 million in the same 2006 period. Net interest income for the quarter soared 66 percent to almost three billion rupees, according to interim results released to […]
No Hassle
August 1, 2007 (LBO) – Sri Lanka’s Union Assurance made it easier to claim motor accident insurance in the highly competitive industry by allowing policy holders to drive off without waiting for assessors to arrive for inspections. A few years ago another insurer transformed the industry by doing away with the requirement for a police […]
Sri Lanka names new cricket selection panel
July 31, 2007 (AFP) – Former Sri Lanka fast bowler Asantha de Mel was re-appointed chief of the national cricket selection committee which was reshuffled by the sports minister on Tuesday. De Mel and Don Anurasiri were retained from the previous selection panel and will be joined by Mahes Goonathilake and Ranjith Madurasinghe in the […]
Digital Divide
July 31, 2007 (LBO) – Sri Lanka’s government ICT Agency has expanded its telecentre network to 400 points all over the island to help communities improve their knowledge and access global information. The 400th telecentre or Nenasala was set up Tuesday at the Colombo District Secretariat to provide the public access to internet, phone and […]
Economic Parley
July 31, 2007 (LBO) – The annual sessions of the Sri Lanka Economic Association (SLEA) will look at regional inequalities, employment and social safety nets, health education and infrastructure, its organizers said. “The slow growth of the economy, inequity of income distribution is a major cause of this poverty”, SLEA President A Indraratne said. The […]
New Life
July 31, 2007 (LBO) – The failed Pramuka Bank had been given the nod by the Central Bank to re-open for business from August 01, as the state owned Sri Lanka Savings Bank Ltd, the regulator said. The new bank will settle the liabilities of Pramuka to depositors and creditors according to a scheme to […]
Indian league storm set to hit Sri Lanka
July 29, 2007 (AFP) – A multi-million-dollar rebel league in India seems set to take Sri Lankan cricket by storm with several top players approached to join the lucrative series, sources said on Sunday.The Indian Cricket League (ICL), promoted by the country’s largest listed media group Zee Telefilms, features six teams playing Twenty20 matches across […]
England happy with Sri Lanka security: officials
July 30, 2007 (AFP) – England’s winter tours of Sri Lanka looked set to go ahead after local officials claimed Monday that a security assessment team sent by the tourists was satisfied with the arrangements.Sri Lanka Cricket (SLC) chairman Jayantha Dharmadasa said that John Carr, a top official of the England and Wales Cricket Board […]
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 […]