Category: Industry
Big Bucks
July 03, 2007 (LBO) – HSBC Bank in Sri Lanka is looking to finance two large transport sector projects with private sector involvement which will spawn new opportunities for local and international banks, a top official said. Three of Sri Lanka’s largest conglomerates, John Keells, Hayleys and Aitken Spence have put in bids to build […]
Power Profits
July 2, 2007 (LBO) – Problems at Sri Lanka’s Kelanitissa thermal power station partly offset strong first quarter 2007 profit growth of AES Corporation of the US, the company has reported. AES Corporation revenues increased 11% to 3.1 billion dollars compared to 2.8 billion dollars for the first quarter of 2006, while net cash from […]
Muralitharan eyes world record
COLOMBO, July 2, 2007 (AFP) – Muttiah Muralitharan said Monday he will tour Australia later this year amid the possibility of being crowned Test cricket’s most successful bowler on Shane Warne’s home soil. The Sri Lankan’s 683 wickets leave him just 25 short of equalling the retired Australian leg-spinner’s world record tally of 708. With […]
More Empathy
July 2, 2007 (LBO) – Manique Gunaratne, a visually impaired Sri Lankan professional, has a simple poem that she recites to highlight the hopes of people like her. “It takes the summer, sun and the rain, to make a garden grow It takes the moon and twinkling stars, to make the heavens grow It takes […]
Steady Steady
July 02, 2007 (LBO) – A new rule by Sri Lankan stock market regulators that limits brokering credit for investors should ensure more stability and provide long term security for the market. The rule, effective from July 1, will limit brokerage firms from lending more than 75 percent of the market value of an investor’s […]
Unfazed Bangladesh plan campaign against Sri Lanka
July 1, 2007 (AFP) – Under-performing Bangladesh go into Tuesday’s second Test against mighty Sri Lanka determined to lift their game and prove they deserve to play at the highest level.The third and final Test will be played in Kandy from July 11-15, followed by three one-day internationals.The knives were out after Bangladesh crashed to […]
‘s boutique hotels suffer the ravages of war
SIGIRIYA, Sri Lanka, July 1, 2007 (AFP) – Britney Spears, Paul McCartney, Sting and Paul Simon have all travelled to Sri Lanka for a big-bucks taste of tropical luxury.“The rich will not want to come if Sri Lanka has an image of a cheap destination,” Jinasena said. But an escalating war with Tamil Tiger rebels […]
Wider Spectrum
July 1, 2007 (LBO) – Sri Lanka’s pioneer leasing firm, Lanka Orix Leasing Company (LOLC), is looking to spread its wings under a new brand, officials said. “I feel we should do business as usual and not worry too much about what is happening in the country as long as we concentrate on our risk […]
Subsurface Threat
June 30, 2007 (LBO) – Sri Lankan security authorities plan to install underwater surveillance systems in Colombo harbour to enhance the defences of the port which handles most of the island’s trade. London’s Metropolitan Police said Chrishanthakumar is accused of receiving literature and manuals allegedly included information about underwater warfare and naval weapons systems and […]
” after reaching 15,000 one-day runs
BELFAST, June 29, 2007 (AFP) – Sachin Tendulkar savoured a “wonderful moment” after adding a new chapter to his record-breaking career by becoming the first batsman to score 15,000 one-day international runs. Tendulkar reached the landmark while making 93 in India’s six-wicket win against South Africa at Stormont here Friday, a victory which levelled the […]
Snazzy Gadget
NEW YORK, June 29, 2007 (AFP) – Apple’s iPhone, one of the most eagerly awaited devices in years, went on sale Friday with technology fashionistas queued up country wide to shell out at least 500 dollars for the cell phone-music/video player. Lines up to 400 people deep snaked from the doors of Apple and AT&T […]
Sri Lanka to focus on niche tourism to bring more foreign exchange
June 30, 2007 (LBO) – Sri Lanka’s Ministry of Tourism is kicking off a new drew to promote high spending niche tourism to the country with the appointment of a new advisory council led by the private sector. At the moment approximately 300,000 people in Sri Lanka depend on the tourism industry the ministry officials […]