Category: Industry
Cricket: Pakistan 347-5 in first Test vs Sri Lanka
GALLE, August 7, 2014 (AFP) – Younis Khan was unbeaten on 171 as Pakistan moved to 347-5 in their first innings by lunch on the second day of the first Test against Sri Lanka in Galle on Thursday.Resuming at the overnight total of 261-4, Khan and Asad Shafiq took their fifth-wicket stand to 137 before […]
Sri Lanka Port Authority calls for private investments to build port city
(07, Aug, 2014 LBR) – – Sri Lanka’s port city to be built on reclaimed sea will be financed with private capital and investors would be free to come up with proposals on how to use the land, an official said.The port city will have shopping areas, water sports area, mini golf course, hotels, apartments, […]
Pakistan bat against Sri Lanka in first Test
GALLE, August 6, 2014 (AFP) – Pakistan captain Misbah-ul Haq won the toss and elected to bat in the first Test against Sri Lanka in Galle on Wednesday.The start was delayed by 30 minutes due to a wet outfield caused by overnight rain.Bad weather has been forecast on all five days of the Test. Both […]
Compassion Measure
Aug 05, 2014 (LBO) – A regional consultant who works with mainly multinational businesses in South Asia and the Middle East says he wants to measure compassion in Sri Lanka business, after initiating the process in Pakistan.“I want to go deep and see how Sri Lankan organizations are different from Pakistan, even if they are […]
Sri Lanka tourist arrivals up 25 pct in July, 2014
August 05, 2014 (LBO) Sri Lanka’s tourist arrivals rose 25.2 percent to 133,971 in June 2014 from a year earlier, by driven by China and India, data from the state tourism promotion office showed. Western European visitors are strong in the northern hemisphere winter season and when Sri Lanka’s Western coast is sunny and calm […]
Cricket: Sri Lanka, Pakistan gear for Jayawardene finale
GALLE, August 4, 2014 (AFP) – Hosts Sri Lanka hope to give retiring former captain Mahela Jayawardene a winning farewell when they take on Pakistan for a sixth Test series in as many years from Wednesday.The elegant right-hander, sixth in the all-time scorers’ list with 11,671 runs in 147 Tests since his debut in 1997, […]
On Track
Aug 04, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track with 12 banks and 57 non-bank lenders submitting plans for mergers and recapitalization, the Central Bank said. Another 19 non-bank lenders have completed internal processes to allow them to submit the plans, the regulator said. Already 19 proposals have been approved. Consultants […]
Growth Path
Aug 01, 2014 (LBO) – Profits at Sri Lanka’s National Development Bank rose 5.6 percent from a year earlier to 843 million rupees, helped by higher net interest income, amid falling interest expenses, interim accounts showed. The bank reported earnings of 10.50 rupees per share. In the half year to June the group reported earnings […]
Banking Plan
July 31 2014 (LBO) – Sri Lanka’s state-run Bank of Ceylon, a major lender to the state and state enterprises will boost customer service and attract more private clients officials said, as the bank celebrates 75 years.“Our bankers are the best in the country but our outlook we must change,” Bank of Ceylon Chairman Harsha […]
‘s Union Assurance to sell general insurance to Canada firm
July 31, 2014 (LBO) – Union Assurance Plc, a unit of Sri Lanka’s John Keells Holdings said it had struck a deal to sell 78 percent of its general insurance business valued at 4.5 billion rupees to Fairfax Asia. Union Assurance said it will continue to fully own the life insurance business. Fairfax Asia was […]
Japan airline hit by Abenomics money printing
TOKYO, July 31, 2014 (AFP) – Airbus on Thursday said its decision to cancel a .2 billion jet order from Skymark Airlines was final, rejecting the Japanese carrier’s suggestion that talks were still ongoing.The European aircraft maker said this week it had informed Skymark that its purchase of six A380 superjumbos “has been terminated”, just […]
Asia tourist boom fuels airport binge
SINGAPORE, July 30, 2014 (AFP) – Faced with snaking queues at immigration, overflowing baggage carousels and expensive flight delays, Asian nations are rushing to build hundreds of new airports to cope with surging demand for air travel in the region. From China and India to the Philippines and Indonesia, the fast-growing middle classes are looking […]