Category: Industry
Susanthika Jayasinghe comes second at Asian Games 100m
DOHA, Dec 9, 2006 (AFP) – Guzel Khubbieva of Uzbekistan won the women’s 100 metres title here at the Asian Games on Saturday.But Khubbieva, a two-time silver medallist at last year’s Asian Championships, had built up enough of a gap to hold her off while Al Ghasar came late to take third. The 30-year-old, a […]
Sprouting Mobile
Dec 08, 2006 (LBO) – A top mobile phone maker expects the Sri Lankan handset market to grow by 25 to 30 percent next year as the country, as the country’s cellular operators reach out to rural customers. Nokia, the world’s largest mobile phone maker, has already experienced a surge in handset sales here since […]
Buying Time
December 8, 2006 (LBO) – Sri Lanka Friday gave banks extra time till 2009 to top up their capital by five times, the Central Bank said, as some banks have fallen short of meeting a deadline set earlier. In April 2005, monetary authorities set the capital minimum capital limit for commercial banks’ at 2.5 billion […]
Funny Money
December 08, 2006 (LBO) – Sri Lanka’s main opposition party has said the government should investigate suspected money laundering transactions in the Colombo Stock Exchange, when the vote on the finance ministry’s budget was taken up in parliament this week. UNP Parliamentarian Bandula Gunawardene, a former deputy finance minister said Sri Lanka is gaining a […]
Geography Lesson
December 07, 2006 (LBO) – Sri Lanka is to hire a British survey company to re-draw the island’s continental shelf boundary, so that the country can claim additional rights to the seabed and any natural resources it holds. The government said Thursday that it had approved the appointment of Geophysical survey company Geotechnical Engineering and […]
Cash Pile
December 07, 2006 (LBO) – Sri Lanka’s NDB Bank Thursday teamed up with global money transfer giant Western Union, to tap the lucrative foreign remittances market, officials said. Around 1.5 million Sri Lankans working and residing overseas sent home 1,918 million dollars last year, and the island’s Central Bank expects the figure to hit 3.0 […]
Shoe Bonds
Dec 06 (LBO) – A holding company that controls Sri Lanka’s largest footwear maker DSI, is to issue a 300 million rupee debenture which has been rated BBB+ (lka), Fitch Ratings Lanka said Wednesday. Fitch says the company DSI Holdings which also has a national long term rating of BBB+ may increase the size of […]
Price Signal
December, 06 (LBO) – Sri Lanka’s treasury bill rates moved up by an average of 19 basis points at this Wednesday’s auction on the back of a similar hike last week, in what analysts view as a steady response by the Central Bank to tighten monetary policy and curb demand pressure. However the Central Bank […]
Better Deal
Dec 05 (LBO) – Sri Lanka’s small hydro developers are in talks with the government for a new electricity tariff, to be finalised in about a month, as mini-hydro electricity becomes more expensive to develop. There are currently about 100 megawatts of small hydro plants generating 300 million units of electricity a year, connected to […]
Even Keel
December 5, 2006 (LBO) – Dialog Telekom, the island’s biggest mobile phone operator, retained its AAA (lka) rating, but subscriber growth has lagged against industry peers, Fitch Ratings Lanka said. œThe rating reflects Dialog’s leading position in Sri Lanka’s cellular-mobile space with around 60 percent subscriber-share, its robust growth and strong operating cash flow, the […]
Light Load
December 2, 2006 (LBO) – Sri Lanka plans to build a 300 megawatte liquefied natural gas plant with Iranian assistance, the government said Saturday. “Iran is highly developed in power plant manufacturing industry and is able to meet the domestic requirement of power plant construction. Sri Lanka power industry can benefit through mutual cooperation between […]
Plugged In
December 2, 2006 (LBO) – Dialog Telekom said Saturday that it has taken full control of cable television operator CBN SAT, that was previously shut down by the government for not having necessary paperwork. Sri Lanka, which became the first South Asian nation to start mobile services, when Celltel Lanka began operations in 1989, now […]