Category: Industry
Losing Weight
Nov 09, 2006 (LBO) – Despite scores of raids, arrests and legal penalties over the years, Sri Lankan authorities say many shopkeepers and other vendors still doctor their measuring scales. From our annual raids we have been able to catch around 1134 vendors in 2005 and there is a slight increase in the numbers compared […]
Safe Haven
Nov 09 (LBO) – Sri Lanka stands the risk of getting too complacent about its low prevalence of AIDS, researchers say and should strengthen treatment and care of those living with the disease. There are an estimated 5000 people living with Acquired Immunodeficiency Syndrome (AIDS), which attacks the body™s immune system – the body™s ability […]
Start Small
November 9, 2006 (LBO) – Most local small and medium enterprises lack support services like marketing and technical skills rather than access to credit to grow their businesses, a top Central Bank official said Thursday. Local banks are heavily weighted towards collateral base lending, instead of project based lending, which in turn makes it difficult […]
Rational Decision
November 09 (LBO) – The Central Bank of Sri Lanka has responded to a weekend news report in the continuing controversy over the sudden closure of a special investigation unit that was probing the Goldquest scheme among others.Administration Rationalization and Investigations into Prohibited Schemes This Press Release is issued to clear any misconception that may […]
Tech Ride
TOULOUSE, France, Nov 9, 2006 (AFP) – As rain clouds gather over European aircraft maker Airbus, the giant plane at the root of its problems is set to jet off on for a tour of the Asia region next Monday for a final round of technical tests.EADS, or the European Aeronautic Defence and Space Company, […]
Open Up
SINGAPORE, Nov 9, 2006 (AFP) – Asia should further liberalise its airline industry to unleash the region’s full growth prospects or risk losing billions in unrealised potential, industry experts said Thursday.“Often they are liberalisation’s biggest winners,” said Herdman. “We must ensure that the regulatory framework keeps pace with industry needs.” “We need one more revolution […]
Duped
Nov 8, 2006 (AFP) – C. Sathishkumar was one of thousands of Sri Lankan youngsters who invested in an Internet promotion to evaluate products online in return for quick cash — and like the others, he lost all his money.Police said this week that the scam, allegedly run by two Indians from a firm named […]
How the Ashes were born
LONDON, Nov 7, 2006 (AFP) – As England get set for the defence of the Ashes in Australia later this month, it’s worth recalling that one of the oldest prizes in sport was actually born out of a satirical newspaper article.Cricket’s oldest rivals had been playing one another for five years before there was any […]
SLT TV
November 6, 2006 (LBO) – Sri Lanka Telecom, the island’s biggest fixed line operator, said Tuesday that they are doing a due diligence study on cable television operator Grant Communications (Pvt) Ltd. The company, which controls 85 percent of Sri Lanka’s fixed-line telecommunications market, has applied for a ˜non-voice’ license from the telecom regulator and […]
No Cash
Nov 07 (LBO) – Sri Lanka is to ask Reliance Industries of India and Petronas of Malaysia for extended credit on fuel purchases, to ease recent pressure on the exchange rate. Meanwhile, the government is also considering offering targeted subsidies for kerosene to Samurdhi beneficiaries, while allowing Ceypetco to sell at market rates, an official […]
World Cup final ball sells for 2.4 million dollars
DOHA, Nov 7, 2006 (AFP) – The ball used in this year’s World Cup final between Italy and France has sold at auction for a staggering 2.4 million dollars. Signed by the Italian team which beat France on penalties, it was snapped up by Qatar’s emir-in-waiting Sheikh Mohamed bin Hamad al-Thani, who will display it […]
‘s captain for World Cup
Nov 6, 2006 (AFP) – Mahela Jayawardene will lead Sri Lanka at the World Cup in the Caribbean next March, chairman of selectors Asantha de Mel told AFP on Monday.“Mahela has done a decent job since taking over from Marvan Atapattu and he will continue till the World Cup,” De Mel said. “We’ve been working […]