Category: Industry
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, […]
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 […]
Soft Landing
December 12, 2006 (LBO) – Lanka Bell, one of Sri Lanka’s privately held wireless telecom operators, has tied up with India’s FLAG Telecom to lay an undersea cable linking both countries. FLAG owns and manages an extensive optical fibre network spanning four continents and connecting key business markets in Asia, Europe, the Middle East and […]
Ceylon Exposure
November 12, (LBO) – The Bank of Ceylon has given 43.7 percent of its loans to the government and state-owned enterprises, and its exposure to government would remain high or even increase, Fitch Ratings Lanka said Tuesday, as it affirmed the bank’s AA (lka) rating.“Furthermore such exposures also increase the linkage to the state’s financial […]
New Chapter
December 11, 2006 (LBO) – Sri Lanka Telecom, is spinning off its directory publication division as a wholly owned subsidiary, the island’s biggest fixed line operator said Monday. Japans Nippon Telegraph & Telephone Corp. or NTT controls 35.2 percent of SLT, the Sri Lankan government owns 49.5 percent and the public 15.3 percent. SLT Publications […]
PBJ Resignation
December 11, 2006 (LBO) – Sri Lanka’s powerful treasury secretary P B Jayasundara, has sent in his resignation, the state-run Daily News reported Monday. The newspaper did not give a reason, but said Jayasundara will cease from running the day-to-day affairs of the finance ministry from December 31. Jayasundara is due to take up a […]