Category: Industry
Got Milk?
Oct 12, 2006 (LBO) – Sri Lanka has relaxed earlier moves to ban milk powder advertising, instead regulating branded milk adverts so that liquid milk gets adequate airtime. Cabinet spokesperson and media minister Anura Yapa said Thursday that the government had agreed to regulate advertising of branded powder milk. This includes a mandatory slogan promoting […]
’s Box
October 12, 2006 (LBO) – Sampath Bank may be a possible takeover target once again, when the small bank moves to amend its articles and allow a single shareholder to own a bigger stake, an equity research report said Thursday. Sampath has no controlling shareholder, but businessmen Dammika Perera and his related companies control around […]
Banking Ed
Oct 12 2006 (LBO) – The Institute of Bankers of Sri Lanka (IBSL) will award more than 600 student members certificates at the eleventh convocation with students flocking to qualify as bankers, officials say. The only institute that is empowered by an Act of parliament to provide banking training in Sri Lanka has over 9,000 […]
Bargain Fares
Oct 12 (LBO) – Dubai based Emirates Airlines is offering a bargain single fare for Sri Lankan leisure seekers and businessmen flying to Europe this winter season. Travelers flying from Colombo to 20 destinations in Europe can buy a four month, economy class return ticket for 50,000 rupees (500 dollars), excluding taxes and fuel surcharges, […]
Chattiest Year
October 11, 2006 (LBO) – Sri Lanka’s mobile phone penetration is due to peak at 38 percent in 2008, amidst regulatory bottlenecks to iron out crucial issues like interconnection and the management of frequency spectrum, an equity research report said Wednesday. However, operators have found loopholes within the law which allows them to offer ‘seasonal’ […]
Korean Chips
October 11, 2006 (LBO) – Korea’s Samsung Networks Inc has picked up a 15 million dollar contract to digitally link up key Sri Lankan government agencies. Samsung will equip and digitally manage the Lanka Government Network or LGN project, connecting line ministries and divisional secretaries to ensure a smooth flow of information. The South Korean […]
Small Screen
CANNES, France, Oct 11, 2006 (AFP) – TV on tiny mobile phone screens may have started out small but it is growing up fast as more and more cellphone users around the world tune into television on their mini screens.Today, fans can catch up with the latest episodes of smash hit TV shows, from “Desperate […]
Media Gagged
Oct 11, 2006 (AFP) – Escalating violence in Sri Lanka has led to unofficial censorship enforced by intimidation and death threats against journalists, an international group said Wednesday. A “fact finding mission” by a dozen media organisations as well as a UN body reported that security forces were interfering in the editorial work of media […]
Say Yes!
October 11, 2006 (LBO) – Sri Lanka’s Sampath Bank Ltd is seeking shareholder approval to raise it’s authorise share capital and lift the maximum shareholder limits to be on par with Central Bank guidelines. The bank’s authorised share capital stands at 1.5 billion rupees and the board is seeking shareholders’ consent through an extraordinary meeting […]
Free Skies
Oct 11, 2006 (LBO) – Sri Lanka has won additional flights to Indian metropolitan cities Mumbai and Bangalore, following a round of talks with India this week on liberalising air services. We have got seven additional frequencies a week to Mumbai in addition to the seven at present, as well as seven more frequencies to […]
Extended Credit
Oct 10, 2006 (LBO) – The Asian Development Bank is fielding a mission to Sri Lanka this week to look at supplementary financing for the 300 million dollar Southern expressway. We expect the highway to be completed by 2010 or end 2009 at the earliest. We want to open the highway to the public once […]
Little Choice
October 10, 2006 (LBO) – Indian fuel retailer Lanka IOC is due to receive 5.16 billion rupees in cash and bonds from the government as settlement for having sold fuel below costs, officials said Tuesday. At present around 15 of the 99 tanks in the farm are operational. However as business develops, LIOC plans to […]