Category: Industry
Standing By
July 12, 2007 (LBO) – Sri Lanka’s United Motors Lanka Limited has put off plans to diversify into big property developments as the market for high-rise space seems to be slowing, officials said. UML Property Development’s profits were tax free for a period of seven years and now are taxed at a concessionary rate. The […]
Power Seed
July 11, 2007 (LBO) – Sri Lanka is seeking Indian support to develop bio-diesel plants in the island’s Puttalam region, north of the capital Colombo, a senior public estate management ministry official says. The bio-diesel project, which is to be launched in mid-July, will use the Jatropha plant (endaru), Merinus Fernando, advisor to the ministry […]
Bangladesh lose wicket in rain-hit Sri Lanka Test
KANDY, Sri Lanka, July 11, 2007 (AFP) – Tourists Bangladesh lost a second wicket in the 20 minutes of play possible between lunch and tea on the opening day of Wednesday’s rain-hit third and final cricket Test against Sri Lanka.Former captain Habibul Bashar was caught behind off Farveez Maharoof for 18 as the tourists moved […]
Fashion Degree
July 11, 2007 (LBO) – A Sri Lankan clothing technology school is launching a degree course in fashion and merchandising in a tie-up with Australia’s Royal Melbourne Institute of Technology (RMIT), and is also planning to offer a Masters program from next year. The Royal Melbourne Institute of Technology, began in 1887 as the ˜Working […]
Bangladesh in first day blues against Sri Lanka?
KANDY, Sri Lanka, July 10, 2007 (AFP) – Bangladesh are hounded by their repeated first innings failures as Sri Lanka seek a 3-0 sweep when the final Test starts here on Wednesday. The hosts, who won the previous two Tests by innings margins and plenty of time to spare, are firm favourites to secure their […]
Phone Charges
July 10, 2007 (LBO) – Sri Lanka Telecom has said it plans to switch to a time-based tariff structure from a unit-based one as part of a court settlement in which it will cut call charges. The case will be called again on August 27. In a telecom operator revenues are usually made up of […]
Tax Pain
July 10, 2007 (LBO) – Sri Lanka’s exporters have warned that delays in tax refunds and disbursements of export cess were hurting overseas marketing efforts and driving some businesses near bankruptcy. Delays experienced by exporters in getting value added tax (VAT) refunds is a “burning question,” said Mohan Mendis, the outgoing chairman of the Exporters’ […]
Living Daylights
July 10, 2007 (LBO) – SriLankan airlines will fly only during daytime till mid-September, to ensure that connections are available to other airlines and insurance fees are negotiated, the airline said Tuesday. “This has ensured that travel to Sri Lanka was facilitated without any significant interruption or reduction in capacity,” he said. “SriLankan Airlines is […]
Court Call
July 9, 2007 (LBO) – Sri Lanka’s telecom regulator has proposed slashing home rentals by 24 percent and call charges by over 8 percent, in a consumer interest case against the island’s largest fixed access provider, a court official said. The Telecommunications Regulatory Commission of Sri Lanka has suggested in court Monday that monthly domestic […]
Bug Fighting
July 9, 2007 (LBO) – The United States has given Sri Lanka protective gear, test and decontamination kits to combat an outbreak of bird flu, the US embassy in Colombo said.Sri Lanka government’s Department of Animal Production and Health had received 4,500 suits of personal protection equipment, 1,500 rapid test kits, and 40 decontamination kits […]
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 […]