Category: Industry
Nest Egg
October 31, 2006 (LBO) – Sri Lanka is toying with the idea of starting a provident fund for migrant workers in an attempt to give countrymen a form of saving to live after retirement. Over 1.5 million Sri Lankans, who work and reside overseas, have remitted 1.539 billion dollars to the country during the eight […]
Aviation Debut
Oct 31, 2006 (LBO) – Sri Lanka plans to throw open the aviation corridor along the southern and eastern coast of the island for commercial traffic from next month, officials said Tuesday. As part of the ‘Ruhunu Open Skies’ policy which kicks off from Nov 19, authorities also plan to open up the skies for […]
Great Asian failures cause World Cup jitters
MOHALI, India, Oct 30, 2006 (AFP) – The failure of the four Asian teams to make the semi-finals of the Champions Trophy indicated trouble lay in store at the World Cup, experts said Monday. India joined Pakistan and Sri Lanka on the sidelines after being thrashed by world champions Australia by six wickets here Sunday […]
Peeping Toms
SYDNEY, Oct 30, 2006 (AFP) – New high-tech advances were making Internet crimes against children easier for paedophiles to commit and more difficult to detect, experts told a conference in Australia Monday.Faster broadband, DSL and cable connections have contributed to an increase in paedophile activity on the Internet, the 19th Computer Facilitated Crimes Against Children […]
Still Grounded
Oct 30, 2006 (LBO) – Sri Lanka’s first budget airlines to fly international routes are struggling to get off ground, with approvals pending from Sri Lanka’s Civil Aviation Authority (CAA). Meanwhile, the country’s Civil Aviation Authority denied knowledge of a government sponsored budget carrier, which according to weekend media reports, hopes to start up operations. […]
Ponzi Track
Oct 29 (LBO) – Police have sought advice from the Attorney General on how to proceed in getting international help to track down two Indian nationals who ran a Ponzi-style pyramid scam in Sri Lanka. The unit was recently disbanded under controversial circumstances sometime after it caused the arrest of several Goldquest activists with the […]
IRB scraps Asian World Cup qualifiers in Sri Lanka
TOKYO, Oct 27, 2006 (AFP) – The International Rugby Board has axed Colombo as the venue of the final Asian qualifying round for next year’s World Cup due to security problems, the Japan Rugby Football Union said Friday. The IRB will decide a new host city for the November 19-25 qualifying round for the finals […]
”’ rugby venue
COLOMBO, Oct 27, 2006 (AFP) – Sri Lankan rugby authorities Friday said they were disappointed after Colombo was scrapped as a venue for next year’s World Cup qualifiers, due to security concerns. The IRB decision had come in spite of assurances from the Sri Lankan foreign and defence ministries to all participating nations on the […]
Quiet Entry
October 27, 2006 (LBO) – Amana Takaful Ltd., a specialized Islamic insurance company, plans to list 12.5 million shares on the Colombo Stock Exchange by way of an introduction. Priced at 10.00 rupees each, the shares will be listed on the Colombo Stock Exchange’s secondary board. There will be no public issue of shares, CSE’s […]
Firm Hand
Oct 28 (LBO) – Rating agency Fitch Lanka affirmed DFCC Vardhana Bank’s AA-(lka) national long term rating on Friday, on the strength of parent company DFCC Bank. The principal factor supporting the rating of DFCC Vardhana Bank (DVB) is the strong implied support assumed to be available from its parent, DFCC Bank, Fitch Ratings Lanka […]
Stellar Performance
July 27, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Thursday posted a 47 percent rise in net profits for the nine months to September, as subscriber growth lifted revenues. A unit of Telekom Malaysia, Dialog Telekom, reported a 7.55 billion rupee group net profit, while revenues climbed 47 percent to 18.89 […]
Non-Negotiable
Oct 26, 2006 (LBO) – Sri Lanka™s trade ministry has shot down efforts by local businessmen to get desiccated coconut off India™s protected list, to avoid a political battle with the island™s largest trading partner. Desiccated coconut is on a preferential trading list which gives Sri Lankan exports to India a preferential duty of 57 […]