Category: Industry
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 […]
Going Rural
July 22, 2007 (LBO) – ABC Investments, a new Sri Lankan Islamic investment group, plans to expand their business with branches outside the capital Colombo, especially in areas with large concentrations of Muslim people.The Islamic Takaful insurance concept has a growing customer base in Sri Lanka with Amana Takaful.The firm which provides Barakah Islamic financial […]
Symonds urges Aussie fans to applaud Sri Lanka star Murali
SYDNEY, July 21, 2007 (AFP) – Andrew Symonds on Saturday urged Australian cricket fans not to taunt Sri Lankan spinner Muttiah Muralitharan if he passes Shane Warne’s Test wicket world record while touring Down Under this year.Australian crowds have regularly abused “Murali” since he was twice called for throwing, with even Prime Minister John Howard […]
State Try
July 21, 2007 (AFP) – A Sri Lankan minister has travelled to Saudi Arabia with the parents of a teenage housemaid to help prepare her appeal after she was condemned to death for murdering a four-month-old baby, a Sri Lankan diplomat said on Saturday.Deputy Foreign Minister Hussein Bhaila arrived in the Saudi capital on Friday […]
Nobody Told
July 21, 2007 (LBO) – Sri Lanka’s terror finance sleuths said two former ministers who had made claims about money being paid to Tamil Tigers are yet to complain to the unit that is charged with probing terrorist finance. Officials said persons could report suspicious activity in writing or email if they were satisfied that […]
Book Fever
July 20, 2007 (LBO) — Thousands of Harry Potter fans in Sri Lanka have signed up to pick a copy of J.K. Rowling’s seventh, swansong book, amidst tight security, with bookstores sworn to ensure nothing is leaked out before the launch day, a spokesman for the publisher said.Over 10,000 copies of “Harry Potter and the […]
Bigger Results
July 20, 2007 (LBO) – A Sri Lanka-German initiative to give microfinance to tsunami victims had more than doubled its original target helping more than 2000 small business people and creating 6000 new job opportunities, officials said. At present 1.9 billion rupees is outstanding on 15,331 projects. The bank says the scheme has mobilized over […]
Seed Cover
July 20, 2007 (LBO) – HNB Assurance, a unit of Hatton National Bank, has tied up with the micro finance arm of Sarvodaya, a non-governmental organization, to launch micro insurance products for rural families.The micro insurance scheme ‘Sathkara’ has already been launched in Galle, Matara, Vavuniya and Batticaloa Sarvodaya societies as pilot projects to educate […]
Pricing Practice
July 20, (LBO) – Sri Lankan exporters and importers have called for a regulator to monitor the pricing practices of shipping lines, as freight rates move up and exporters are hit with fees outside the quoted rates. Jayanath Perera, outgoing chairman of the Sri Lanka Shippers’ Council, industry body representing firms engaged in international trade, […]