Category: Industry
Txt Me
LONDON, July 24, 2006 (AFP) – Mobile phone text messages are changing the way people approach romantic relationships, according to a survey published Monday in the British newspaper The Times.More than half of mobile phone users aged 18 to 24 have sent or received an invitation to a date via text message, while a similar […]
Square One
GENEVA, July 24, 2006 (AFP) – Key negotiators have made no progress as they try to bridge persistent differences and end a deadlock in the World Trade Organisation’s struggling Doha Round talks on reducing trade barriers, diplomats said Monday. Crunch talks between six major trading nations on Sunday failed to deliver the much-needed breakthrough to […]
IFC to pilot online accommodation booking service for Sri Lanka
July 24 (LBO) – International Finance Corp is to pilot an online accommodation booking portal in Sri Lanka, so small and medium hotels can access global markets. The project to set up two online accommodation booking portals is driven by the South Asia Enterprise Development Facility (SEDF) an arm of the World Bank’s IFC. Plans […]
Finance Rating
July 24 (LBO) – Lanka Ratings Agency (LRA) has given a BBB3 rating to the deposit-taking finance company LB Finance. LRA said it had a favourable view of a management change since 2003, who had managed to improve the company’s asset quality and performance though the company still lagged the industry on both counts. LB […]
Empty Tank
July 24 (LBO) – An ongoing strike by trade unions at Sri Lanka’s petroleum distribution facility could cripple supplies at fuel sheds, if it continues over the next few days, top officials said. Unions are demanding the removal of a newly appointed chairman to a common infrastructure facility, Common Petroleum Storage Terminals Ltd (CPSTL). The […]
Lace Curtain
July 22, 2006 (LBO) – Sri Lanka is to form a national media policy to regulate content aired on local television channels, President Mahinda Rajapakse said Saturday, during a meeting with heads of local broadcasting stations. Rajapakse said a consultative committee will also be formed on Monday to iron out procedures and regulations that will […]
Back Onboard
July 22, 2006 (LBO) – Sri Lanka’s main port is limping back to work following government assurance to consider striking workers demand for a pay hike, an official said Saturday. “The unions called off the strike after a government delegation led by the shipping minister agreed to resolve the issue of a salary increment within […]
Going Up
LONDON, July 21, 2006 (AFP) – Oil prices firmed on Friday but remained below recent record peaks as traders paused for breath after a week of volatile trading, dealers said. New York’s main contract, light sweet crude for delivery in September, added 10 cents to 74.37 dollars per barrel in electronic deals before the official […]
Former Sri Lanka captain prefers cricket to politics
July 21, 2006 (AFP) – Former Sri Lanka cricket captain Arjuna Ranatunga said on Friday his love for the sport forced him to resign from the post of deputy minister in the government.“I love cricket above everything else and I am what I am today because of the game,” said Ranatunga, who resigned as deputy […]
Better Terms
July 21, 2006 (LBO) – Sri Lanka may still keep its duty free benefits to Europe when an EU trade deal ends in 2008, with the scheme to be extended for a further seven years. Under the Generalised System of Preferences plus (GSP+) scheme, Sri Lanka gets duty free access for exports to the European […]
New Proposals
July 21 (LBO) – The government is planning to amend a controversial levy on imported television programs and commercials, with concessions for English programming, a senior official said. There will be concessionary amendments to the new levy. The proposed amendments have to be approved by President Mahinda Rajapakse, R T L Weerasinghe, Senior Tax Advisor […]
Drifting Away
July 21, 2006 (LBO) – Sri Lanka’s main export industry is reeling due to the ongoing strike at the Colombo port, amid moves by feeder vessel operators to hike rates to recover losses, officials said Friday. The island’s 2.5 billion dollar clothing industry is unable to meet buyers’ deadlines and is contemplating taking legal action […]