Category: Industry
‘s On
May 23, 2007 (LBO) – Sri Lanka’s Central Bank says it has strengthened action against pyramid schemes and not halted or scaled down investigations in the recent past. “The Central Bank wishes to inform the public that it has in fact, contrary to such reports, strengthened its action against pyramid schemes,” the Central Bank said […]
New Link
May 23, 2007 (LBO) – Japan Wednesday gave Sri Lanka a 15-million-dollar loan to re-build a key bridge in the embattled north-western district of Mannar, the Japanese embassy said.The bridge will connect the Mannar islet with the rest of the mainland and also speed up work to resettle thousands of people displaced by the ongoing […]
Call Me
May 22, 2007 (LBO) — Sri Lanka plans to allow third parties to operate payphone booths in an attempt to popularise them in far flung areas outside the city of Colombo, a top official said. The island’s eight public switched telephone network (PSTN) operators will now be allowed to appoint a third party to operate […]
Trade Ties
May 22, 2007 (LBO) – Sri Lanka and the Maldives plan to set up a bilateral business council this week to promote trade and investment between the two countries, the Ceylon Chamber of Commerce said Tuesday. The Maldives is Sri Lanka’s the third largest trading partner in south Asia with the trade balance being in […]
Retail Takeover
May 22, 2007 (LBO) – Listed firm Kshatriya Holdings said it had reached a deal with the owners of Kings Super retail chain to purchase its assets and brand name. . “The total consideration is linked to the valuation of the assets,” Kshatriya Holdings said in a statement to the Colombo Stock Exchange. “Kshatriya Holdings […]
Sri Lanka media freedom, human rights, law and order sliding
May 22, 2007 (AFP) – Cases of murder, abduction, disappearance and intimidation surface almost daily in Sri Lanka as the South Asian nation appears to be sliding into lawlessness and war.With a truce between the government and the rebel Liberation Tigers of Tamil Eelam (LTTE) in tatters and peace talks long since abandoned, rights workers […]
Housing Boom
May 22, 2007 (LBO) – Consolidated net profits at HDFC Bank, a mortgage lender, grew 35 percent while revenues grew 40 percent for the quarter ending March 2007. HDFC group net profit after tax rose to 113.8 million rupees from 83.9 million in the first quarter this year while total revenue increased to 521 million […]
New Port
May 21, 2007 (LBO) – Four investor groups have sent in bids to build the infrastructure and do the dredging for the Colombo Port Expansion Project, a new deep-water harbour next to Colombo. The new port will be designed to handle ships with a draft of 16 metres and as long as 400 metres. Sri […]
Sri Lanka hunt for Moody replacement
May 19, 2007 (AFP) – World Cup runners-up Sri Lanka have formally started looking for a replacement for outgoing cricket coach Tom Moody, officials said here on Saturday. “We have started today advertising for a replacement for Tom Moody,” Sri Lanka Cricket (SLC) spokesman Samantha Algama told AFP. He said notices would appear on international […]
Tourist arrivals to Sri Lanka continue to slide fighting escalates
May 21, 2007 (AFP) – The number of holidaymakers visiting Sri Lanka fell by nearly 20 percent in the first four months of this year as fighting between troops and Tamil rebels escalated, the tourism authority said Monday.Visitor numbers to Sri Lanka dropped to 167,674, down 19.9 percent over the corresponding period of last year. […]
Pakistan beat Sri Lanka by 5 wickets in 1st ODI
ABU DHABI, May 18, 2007 (AFP) – Pakistan beat Sri Lanka by five wickets in the 1st ODI here on Friday after a superb 73 off just 34 balls from Shahid Afridi.He even managed to hit 32 off just one over for the second highest number of runs scored in an over, to convert what […]
Technology Edge
May 19, 2007 (LBO) – Information technology has a component that gives the technology a competitive advantage in business, IT specialists say. That component gets commoditised but companies must come up with new components to stay on the top, they say. œThere is definitely a component of IT which is really giving the competitive advantage […]