Category: Industry
Normal Operations
June 19, 2007 (AFP) – Sri Lanka’s only international airport is to resume around-the-clock operations after air raids by the Tamil Tiger rebels forced its closure at night, an official said Tuesday. The Tamil Tiger rebels have been fighting for a separate homeland since 1972. More than 60,000 people have been killed in the conflict.The […]
Sri Lanka, Bangladesh, Pakistan and India begin talks for 2011 World Cup
BHURBAN, Pakistan, June 17, 2007 (AFP) – Top cricket officials from across South Asia will meet here Monday to launch preparations for the 2011 World Cup, which will mark the third time the tournament has been played in the region.India, Pakistan, Sri Lanka and Bangladesh (IPSB) will jointly hold the mega-event, with the opening ceremony […]
Affordable tickets for fans in Sri Lanka and subcontinent at next World Cup
BHURBAN, Pakistan, June 18, 2007 (AFP) – The South Asian nations hosting the 2011 cricket World Cup promised on Monday to hold a spectator-friendly tournament with affordable ticket prices.The next organising committee meeting will be held in India in November-December this year. The pledge by India, Pakistan, Sri Lanka and Bangladesh comes after the 2007 […]
Knowledge Cash
June 18, 2007 (LBO) – Amba Research, an investment research outsourcing firm which raised new venture capital financing Monday, is planning to expand operations in Sri Lanka, officials said. Over the last two years the government absorbed 42,000 unemployed graduates into the already bloated public sector, while outfits like Amba is searching high and low […]
No Dividend
June 18, 2007 (LBO) – Seylan Merchant Bank said it was unable to pay a dividend proposed earlier, following a solvency test specified in a new company law. The investment bank said in a stock exchange filing that shareholders who attended its annual general meeting last week had already been told that a 25 cent […]
Floating Hotel
DUBAI, June 18, 2007 (AFP) – The booming Gulf emirate of Dubai said on Monday it has bought the Queen Elizabeth 2, one of the world’s most majestic cruise liners, for 100 million dollars from Britain’s Cunard Line.The ship will be berthed at a man-made island off the coast of Dubai and turned into a […]
Box Bonanza
June 18, 2007 (LBO) – South Asia Gateway Terminals (SAGT), Colombo Port’s privatised container facility, aims to handle 1.6 million containers by the end of this year, as India’s bulging trade volumes increase the flow of cargo through the harbour. SAGT’s new chief executive, Steven Edkins, believes Colombo will retain its status as South Asia’s […]
Disturbing Rule
June 17, 2007 (LBO) – Sri Lanka’s insurance industry has voiced concern over a recent proposal by regulators to transfer the Strike, Riot, Civil Commotion and Terrorism Fund to the National Insurance Trust Fund. The industry is asking the government to relax the proposal for compulsory ceding of re-insurance premiums, said Marina Tharmaratnam, CEO of […]
Synthetic Fuel
WASHINGTON, June 17, 2007 (AFP) – A fiery debate has been rekindled in Washington as US lawmakers mull proposed incentives to produce diesel fuel from coal.“By using one of our nation’s most abundant natural resources, coal, to produce transportation fuels, we can address fuel cost concerns, make our nation less reliant on imports from politically […]
Bangladesh in Sri Lanka despite security fears
June 17, 2007 (AFP) – Bangladesh’s national cricket team arrived in Sri Lanka on Sunday for three Test matches and three one-day internationals despite heightened fears of Tamil Tiger bomb attacks, officials said. The Sri Lankan government immediately hailed the visit as a sign of confidence in the island’s security arrangements. “The Bangladeshi government has […]
Atapattu opts out of Sri Lanka team for Bangladesh series
June 17, 2007 (AFP) – Sri Lanka’s former captain and opening batsman Marvan Atapattu has opted out of the Test series against Bangladesh, a top Sri Lanka Cricket official said Sunday.SLC secretary Kangadaran Mathivanan said the former skipper had told them he would not be available for the Bangladesh tournament despite being chosen for the […]
Heaven Sent
June 16, 2007 (LBO) – Sri Lanka’s power utility has increased its hydro storage after heavy rains in the last three days, and if the trend continues it may be able to avoid power cuts in the immediate future, LBO learns. The Ceylon Electricity Board warned that power cuts were imminent after monsoon rains were […]