Category: Industry
Big Money
June 08, 2007 (LBO) – Dialog Telekom signed up with Board of Investment to invest 33 billion rupees (300 million dollars) to expand existing services and set up broadband fibre optic and microwave transmission networks across the island. As an internal conflict intensifies, telecoms remain one of few remaining growth sectors. The investment to be […]
Health South
June 08, 2007 (LBO) – Hemas group a listed diversified group that is in consumer goods, energy, leisure and healthcare said it had acquired a hospital in the southern Sri Lankan city of Galle. Hemas said the privately-owned Southern Hospital will soon be upgraded with new medical technologies. “Hemas Southern Hospitals will, over the next […]
Cell Cash
June 8, 2007 (LBO) – The cellular operator Mobitel has raised five billion rupees through a syndicated loan to fund its expansion into rural Sri Lanka, officials said. The 8-year loan was syndicated by HSBC Sri Lanka. Bank of Ceylon, Peoples’ Bank, Hatton National Bank and HSBC itself brought in a billion rupees each while […]
Sri Lankans star in Afro-Asia encounter;survives Pollock scare
BANGALORE, India, June 6, 2007 (AFP) – Shaun Pollock smashed a maiden one-day century, but failed to stop Asia from posting a 34-run win over Africa in the first match of the Afro-Asia cricket series here on Wednesday.The South African scored a robust 130 as his team were restricted to 283 while chasing a stiff […]
No More
June 07, 2007 (LBO) – A pioneer of Sri Lanka’s information technology sector, who headed two government agencies dealing with ICT and also founded a computer faculty in Sri Lanka has passed away. . Professor V. K. Samaranayake, 68, had died in Sweden, Wednesday, a spokesperson for Sri Lanka’s ICT Agency of which he was […]
Positive Growth
June 7, 2007 (LBO) – Alcatel-Lucent, the largest telecom equipment manufacturers in the world, opened a branch in Sri Lanka Thursday saying sales have doubled in the island during the last two years. “All the south Asian markets are very competitive. We will continue to provide support to our customers and we will push for […]
Clipped Wings
June 7, 2007 (LBO) – DFCC Bank has been asked to cut its 28.98 percent stake in Commercial Bank to 15 percent under Sri Lanka’s banking laws, the development financier said. Commercial Bank of Ceylon has informed DFCC Bank that if the stake was not cut by October 23, 2008, DFCC its voting rights would […]
Air force officer takes over as Sri Lanka manager
June 6, 2007 (AFP) – A senior Sri Lankan air force officer has been appointed as the new manager of the national cricket team, replacing Michael Tissera, a Sri Lanka Cricket official said Wednesday.Air Vice Marshal Sriyan Samararatne, a strict disciplinarian, was picked after facing an interview panel Wednesday by Sri Lanka Cricket, the governing […]
Service Skills
June 06, 2007 (LBO) – Sri Lanka’s freight forwarding industry is setting up an academy to train people with the skills and knowledge required to handle logistics in today’s rapidly growing international trade. Sri Lanka Shippers™ Council, Sri Lanka Apparel Exporters™ Association, Exporters™ Association of Sri Lanka, Import Section of the Ceylon Chamber of Commerce […]
Retail Recognition
June 06, 2007 (LBO) – Retailers that were a just a distribution channel at one time have to be considered as a strategic business partners in driving brands forward in a competitive market, Sri Lanka’s top marketers have said. Retailers are the last point the brands can market themselves and without retailer interest in selling […]
E-deadline
VANCOUVER, Canada, June 5, 2007 (AFP) – The International Air Transport Association has given member airlines and travel agencies five extra months to switch entirely to electronic ticketing, to May 2008.IATA initially had scheduled the switchover to e-tickets, eliminating paper tickets, to be completed by December 31. The decision to extend the deadline was taken […]
Divine Intervention
June 6, 2007 (LBO) – Sri Lanka’s state electricity utility warned that power cuts would be imposed if monsoon rains do not come in the next two weeks to boost its hydro storage capacity. It engineers have warned the media last month that another unsuitable 300 MegaWatt thermal plant is being forced on the utility […]