Category: Industry
Helping Hand
March 06 (LBO) – Sri Lanka is trying to make it easier for disabled people and the aged to use public transport like trains and buildings, a government official said Tuesday. The conference is jointly organised by the social services ministry, Practical Action-South Asia Programme, Disaster Relief Monitoring Unit of the Human Rights Commission Sri […]
’s tourist numbers
March 06, 2007 (LBO) – Visitors from Pakistan and India helped boost Sri Lanka’s tourist numbers in January while shy western Europeans continued to disappoint the war-torn Indian Ocean island. In January 56,000 tourists came to the island up 8.5 percent over the previous year with Pakistani arrivals growing by 171 percent to 2,300 and […]
People Power
March, 06 (LBO) – People’s Bank, a state bank has reported consolidated after tax profits of 3,997 billion rupees for, up 28 percent over the previous year, while the bank’s stand alone profits grew 20 percent to 3,350 million rupees, in its 2006 provisional results. The bank’s revenues grew 28.5 percent to 34.95 billion while […]
Vanik Money
March 06, 2007 (LBO) – The merchant bank Vanik Incorporation said it had given 51 percent control of its money broking unit to employees, in a bid to retain skilled staff. Vanik had originally told creditors who had an arrangement with the firm, that it would sell 40 percent of Vanik Money Brokers Ltd (VMBL) […]
Leg Up
March 06 (LBO) –International Finance Corporation (IFC) is looking for opportunities to help top Sri Lankan firms venture abroad, and is aiming to more than double its portfolio over two years, officials said. On Tuesday IFC had signed up with Nations Trust Bank to provide trade finance guarantees, following a similar agreement with National Development […]
Skills Boost
March 05, 2007 (LBO) – Sri Lanka’s financial regulators are coming together to boost skills of market professionals in a bid to deepen securities and insurance industries. Sri Lanka has a large number of companies, financial institutions, registered financial, leasing and insurance companies, merchant banks, venture capital firms and unit trusts. Sri Lanka’s capital markets […]
Taking Flight
March 5, 2007 (AFP) – Sri Lanka’s new state-run budget airline secured a provisional license to fly after technical problems delayed its maiden test flight by over eight hours, officials said. A Mihin Air flight flew to India’s southern city of Thiruvananthapuram from the island’s sole international airport late Sunday and returned around midnight, airport […]
Cricket: Sri Lanka World Cup squad profiles
BRIDGETOWN, Barbados, March 5, 2007 (AFP) – Penpix of Sri Lanka’s World Cup squad Mahela Jayawardene (RHB/RAM/Capt.) Age: 29. ODI appearances: 236. First cap: v ZIM, Colombo, Jan 24, 1998 A fine technician with an excellent temperament, he has settled in as captain after Marvan Atapattu was injured. Under him, Sri Lanka are a well-knit […]
Tele Focus
March 05 (LBO) – The possible exit of Japan’s NTT from Sri Lanka Telecom continues to garner investor interest with market expectations of a possible buyout by Malaysian mobile operator, Maxis. But SLT has declined to comment specifically on the deal, saying NTT was satisfied with SLT’s performance. “I think amongst those projects the companies […]
Defence Support
March 05 (LBO) – Sri Lanka and the United States has signed a deal to give reciprocal logistical support for the military forces of the two countries, the US embassy in Colombo said Monday. The 10-year agreement which will provide a framework for increased interoperability of the forces of the two countries has been signed […]
Joint Deal
March 05 (LBO) – DFCC Bank and Hatton National Bank would set up a joint venture investment bank to takeover and run their corporate finance and capital market businesses, the two banks said Monday. “It is envisaged that the new will also be the group holding company for the other related entities of the two […]
Sri Lanka to play Scotland in World Cup opening round
BRIDGETOWN, Barbados, March 4, 2007 (AFP) – Hosts West Indies, England, South Africa and Sri Lanka will fire the opening shots in their World Cup campaigns on Monday at the start of series of warm-up matches. West Indies, bidding to become the first host nation to win the title, face Kenya in Jamaica, England will […]