Category: Industry
Equal Chances
Dec 15, 2006 (LBO) – The Employers Federation of Sri Lanka are calling on more firms to employ disabled people, not just for equal opportunity, but because it also makes business sense. The Employers Federation of Ceylon (EFC) together with the Motivation Charitable Trust of UK run an annual job fair for disabled people and […]
Faulty Cable
December 15 (LBO) – Sri Lankan pay television service Comet Cable is facing a withdrawal of its broadcast rights, unless royalties owed to a joint shareholder since 1997, are paid up. Comet Cable has an 18,000 strong customer base and is one of the oldest pay television companies in Sri Lanka with 18 paid channels […]
Energy Link
December 14, 2006 (LBO) – India and Sri Lanka are due to ink a million dollar agreement as early as next year to set up a mega transmission power line between both nations, an official said Thursday. Linked between India’s city of Madurai and Sri Lanka’s Anuradhapura, the project aims to supply up to 1000 […]
Murali twist has New Zealand in a spin
WELLINGTON, Dec 14, 2006 (AFP) – The controversy surrounding Muttiah Muralitharan’s bizarre run out which hastened Sri Lanka’s downfall in the first cricket Test against New Zealand, flared again here Thursday on the eve of the second Test. Two days after Sri Lanka said they had put the issue behind them — while maintaining the […]
China keeps position as Asian leader in outbound tourism
BEIJING, Dec 14, 2006 (AFP) – China has consolidated its position as the Asia leader in outbound tourism, with 28.6 million Chinese travelling overseas in the first 10 months of the year, state media said Thursday. The number marked an increase of 10.8 percent from the same period last year, the China Daily reported, citing […]
More Aid
December 14 (LBO) – Sri Lanka and the Asian Development Bank tied up a loan deal worth 210 million dollars on Thursday, to upgrade national highways and water sector. A loan package of 150 million dollars will be used to widen and rehabilitate a network of 350 kilometres of roads, including improving and replacing bridges, […]
Stable Rating
December 14 (LBO) – Rating agency Fitch gave pawn brokering business Edirisinghe Trust Investments a ‘B+(lka)’ long term rating, but said the company was hampered by low profitability and weak management systems. The company was founded in 1967 by the Edirisinghe family and remains a closely held family company. ETI is a registered finance company […]
Sri Lanka Cricket sues insurance firm to recover 11.9m dollars
COLOMBO, Dec 13, 2006 (AFP) – Sri Lanka’s cricket governing body is sueing a private insurance company in a bid to recover nearly 12 million dollars lost when a home series was abandoned, officials said Wednesday. “We have filed action as the company refused to pay the claim giving various excuses,” a Sri Lanka Cricket […]
Seasonal Cheer
Dec 13 (LBO) – Sri Lankan workers in Board of Investment approved companies within and outside industrial zones are to get a wage hike with effect from January 01 next year. Unions have argued that some companies violate internationally accepted wage rates, overtime hours, unfair dismissal of workers and do not allow trade unions to […]
Credit Forecast
December 13 (LBO) – Slow global economic growth, lower reserve build up and politics will be in the spotlight for sovereign credit assessments in emerging Asia, including Sri Lanka, next year, rating agency Fitch said Wednesday. “For the region, Fitch forecasts a reserve build of USD300 billion next year, which would be slightly lower than […]
”’ looking for glorious finale
DOHA, Dec 12, 2006 (AFP) – Susanthika Jayasinghe has always been a drawcard, whether for her medal winning exploits or colourful private life, and the Sri Lankan is looking for a glorious finale by medalling in the Beijing Olympics. Since then, despite an Asian Games gold in 2002, she has been a rarer sight on […]
Underwater Link
Dec 12, 2006 (LBO) – A new fibre optic undersea cable that connects Maldives to Sri Lanka will bring down international call charges from the Indian Ocean coral atoll, officials said Tuesday. The telco, which carries an AAA (lka) rating from Fitch Ratings Lanka, also has a share in Sri Lanka’s cellular market through its […]