Category: Industry
Safe Deal
February 12 (LBO) – Sri Lanka wants an investment protection agreement with the Maldive Islands, visiting Sri Lanka Mahinda Rajapakse said, while calling for expansion of bi-lateral trade and joint action on tourism. The islands need foreign labour to run its booming low-inflation economy. . Sri Lanka’s top business conglomerates, such as John Keells and […]
Alien Invasion
Feb 12, 2007 (LBO) – In the deep south of Sri Lanka, native vegetation at a fragile wetland nature reserve is being chocked-out by an implacable foreign invasion. The Bundala national park, designated a globally valuable resource under the Ramsar convention on wetlands, covers 3698 hectares of scrub jungle and water bodies bordering the coast […]
Safety Revenue
February 12 (LBO) – The life business of Janashakthi Insurance grew by 26 percent in the year to December with branch expansion driving new business, while total gross premium reached 4.1 billion rupees, the company said Monday. Life business volumes reached 1,025 million rupees with first year life premiums growing by 37 percent to 479 […]
Steady Business
Feb 12 (LBO) – Rating agency Fitch Lanka affirmed Central Finance Company’s A+(lka)’ long-term rating on the strength of its vehicle financing business, with the firm also branching out into real estate. The company holds a 20 percent stake in licensed commercial bank Nations Trust Bank, and also has interests through associate and subsidiary companies […]
Cricket: World Cup chiefs put gloss on delays
PORT OF SPAIN, Feb 10, 2007 (AFP) – World Cup organisers on Saturday shrugged off increasing worries over stadium delays and rocketing hotel prices despite cricket’s global showpiece getting underway in four weeks’ time. Trinidad’s famous Queen’s Park Oval is still not finished, practice pitches in Jamaica have yet to be completed while a hotel […]
‘s thrilling win
RAJKOT, India, Feb 11, 2007 (AFP) – Kumar Sangakkara cracked a robust 110 under pressure to set up Sri Lanka’s exciting five-run victory over India in the second one-day international here on Sunday.India needed 11 runs in the last over with three wickets in hand to surpass Sri Lanka’s total of 257-8 but they ended […]
Flying Blind
February 10 (LBO) – SriLankan Airlines’ strategic decision-making has been hit by uncertainty over a management deal between its two main shareholders, a top official said. SriLankan is majority owned by the government of Sri Lanka, but its management was given to Emirates when the Dubai based airline bought a 40 percent stake in 1998. […]
Alternative Fund
February 09 (LBO) – Sri Lanka will set up an agency to administer the renewable energy sector in Sri Lanka and also establish a fund to support newer forms of energy, a senior minister said. Sri Lanka’s cabinet of ministers had approved the setting up of Sustainable Energy Authority, but the draft law would have […]
Hello Hello
February 09 (LBO) – Sri Lanka Telecom’s profits surged in the last quarter by 160 percent driven by strong revenue growth taking annual profits up by 76 percent, results released Friday showed. SLT’s group revenue with mobile services rose 25 percent to 40 billion rupees in the year to December, while profits after-tax grew to […]
Health Cover
Feb 03 (LBO) – Large numbers of refugees in Sri Lanka are at increased risk of insect borne diseases and failing health, with officials looking for new and novel ways to fight off infection. The number of Sri Lanka™s internally displaced people (IDP) has gone up by 2.8 percent between April 2006 and the end […]
Feed Line
February 09 (LBO) – A ship carrying essential foodstuff from India is due to reach the Jaffna peninsular next week, an official said. The first ship had brought of 3,200 tonnes of essential foods and this ship would have 1,000 tonnes of rice, 500 tonnes of sugar among its cargo, Nalin Fernando, chairman of the […]
Political Storm
February 9 (LBO) – Three ministers in President Mahinda Rajapakse’s government has been removed from their posts, officials and state television said.Anura Bandaranaike lost the tourism ministry in last month’s cabinet re-shuffle and has been publicly expressing his displeasure. Bandaranaike is former President Chandrika Kumaratunga’s brother. Sri Lanka Freedom Party strongman Mangala Samaraweera who held […]