Category: Industry
Still Grounded
March 4, 2007 (AFP) – Sri Lanka’s new state-run budget airline cancelled its maiden flight on Sunday because of technical problems, airport officials said. A Mihin Air flight was due to depart for India’s southern city of Thiruvananthapuram from the island’s sole international airport, but the trip was scrapped due to problems with the plane’s […]
Sharia Mortgage
March 03 (LBO) – HDFC bank is planning to offer housing mortgages based on Islamic finance principles, an official said.“We have already formulated to bring the Sharia concept into the housing loan portfolio,” says HDFC Bank chairman S M M Yaseen told ETV’s Money Report programme. “I am very keen and my board has given […]
China Port
March, 02 (LBO) – The Chinese government would finance up to 85 percent of a planned 420 million dollar a port in Sri Lanka’s southern Hambanthota district, the government’s information office said. “Following the bilateral discussions with the Chinese Government with President Rajapaksa, the Chinese President and Prime Minister have promised to hasten the aid,” […]
‘s not just cricket
NEW DELHI, March 2, 2007 (AFP) – Where there’s cricket, there’s controversy and at the 2003 World Cup the phrase “It’s not cricket” vied for attention with on-field contests. The tournament, jointly hosted by South Africa, Zimbabwe and Kenya, was not only the biggest in the history but also had more than its fair share […]
Warne says Kiwis, Sri Lanka main threats
SYDNEY, March 2, 2007 (AFP) – Shane Warne Friday rated New Zealand and Sri Lanka as Australia’s biggest threats at this month’s World Cup but gave recently-crowned world number one South Africa no chance of claiming the title.Warne said he expected Australia to overcome their recent slump of five straight one-day international losses to win […]
Arabian Flight
March 02 (LBO) – SriLankan Airlines will carry passengers twice weekly to Jeddah through a code-share deal with Saudi Arabian, Arabian Airlines, the company said Thursday.The Tuesday and Thursday flights will start on March 27, making Jeddah the 51st destination Sri Lankan carries passengers to. Jeddah is SriLankan Airlines™ third destination in Saudi Arabia and […]
Ceo Forum
March 02 (LBO) – A company™s consciousness is made up of the collective consciousness of the workers that will help a company be productive and succeed, a top Sri Lankan corporate leader said. “Vision means seeing the integral mental picture in front of you. The edifice is the shell. It is empty without the consciousness,” […]
Hang Up
COLOMBO, March 1, 2007 (AFP) – Sri Lanka suspended sales of telephones and mobile phone cards in the embattled north and east on Thursday as troops stepped up attacks against Tiger rebels, an official said. The move was temporary and aimed at preventing guerrillas making use of phone services for military operations, telecoms watchdog chief […]
Odds On
March, 01 (LBO) – The cricket World Cup may not have started yet, but inside the online gaming industry, a virtual tournament is already on. Hot favorite to win the cup is Australia, having won two cups in a row, with odds of 5/2 followed by South Africa at 9/2. Sri Lanka comes third ranked […]
Call Up
March, 01 (LBO) – DFCC Bank is making a cash call of three billion rupees from shareholders to buy into an upcoming capital raising of Commercial Bank of Ceylon, the company said Thursday. DFCC gained 6.25 rupees to trade at 206.50 at mid-day Thursday. The bank is issuing one share for every four existing shares […]
Sampath Exits
March 01 (LBO) – Sampath Bank has sold its 15 percent stake in Asian Alliance Insurance one of Sri Lanka’s newer insurance firms, an official said. The tranche was sold for 20.50 a share Thursday for 76.8 million rupees. A firm connected to high net worth investor Dhammika Perera is believed to have taken the […]
Head Hunted
March 01 (LBO) – Former head of Fitch Ratings Lanka, and head of Amba Research in Sri Lanka Ravi Abeysuriya, joined as commission member of the country’s securities watchdog on Thursday. The appointment as member of the Securities and Exchange Commission was made by President Mahinda Rajapakse, the SEC said in a statement. Abeysuriya is […]