Category: Industry
Positive Trend
July 13, 2007 (LBO) – Sri Lanka’s exports in May has surged 25.8 percent driven by a 45.5 percent jump in apparel shipments largely to the United States and the European Union, the Central Bank said Friday. Exports grew to 641 million US dollars in May 2007 against 509 million dollars in May 2006. “Persistently […]
Body Check
July 11, 2007 (AFP) – An Etihad Airways plane en route from Indonesia to the United Arab Emirates made an emergency landing in Sri Lanka Wednesday following a bomb scare, an airport official said. Flight EY-471 from Jakarta to Abu Dhabi was diverted to Colombo and checked by police commandos and bomb disposal units, the […]
Sri Lanka spins off Bangladesh cheaply
KANDY, Sri Lanka, July 12, 2007 (AFP) – Sri Lankan spin wizard Muttiah Muralitharan grabbed 6-28 as Bangladesh were shot out for 131 on the second morning of the third and final cricket Test here on Thursday. The tourists, who resumed at their overnight score of 72-4, lost their last six wickets for 33 runs […]
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 […]
Consolidation
July 12, 2007 (LBO) – Asian Finance is planning a merger with its parent company, Lanka Ratings (LRA) said, while confirming a negative outlook on the firm’s rating due to its high exposure to the share market. Lanka Ratings Agency confirmed BBB3 investment grade rating of Asian Finance. “The negative outlook is premised on the […]
Money Man
July 12, 2007 (LBO) – The governing board of Sri Lanka’s central bank is filling a vacancy with President’s Counsel K C Kamalasabayson, the monetary authority said Thursday. He was educated at St. Thomas’ College Mount Lavinia and was conferred a First Class Honours Pass at the Advocates Final Examination from Sri Lanka Law College […]
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’ […]