Category: Industry
Expansion Plan
Apr 24, 2014 (LBO) – Sri Lanka Telecom said it would invest 415 million US dollars to expand its network, build data centres, and expand its pay TV and services to businesses over the next two years.SLT said it had invested 1.3 billion US dollars since becoming a BOI company with 485 million going for […]
UK warns citizens travelling to Sri Lanka with tattoos
Apr 24, 2014 (LBO) – UK has warned citizens travelling to Sri Lanka about having tattoos of the Lord Bhudda following the deportation of a British tourist, barely three weeks after warning about spiked drinks at Southern resorts. “British nationals have been refused entry to Sri Lanka or faced deportation for having visible tattoos of […]
UK nurse leaves Sri Lanka after tattoo jail ordeal
COLOMBO, April 24, 2014 (AFP) – A British nurse jailed in Sri Lanka for sporting a Buddha tattoo left the country Thursday after suffering what she says was sexual and other harassment by prison officers.Naomi Coleman said she was exhausted but relieved to be heading home after she was arrested at the main international airport […]
Sri Lanka axe Chandimal as T20 captain
COLOMBO, April 23, 2014 (AFP) – Sri Lanka’s cricket selectors on Wednesday sacked Dinesh Chandimal as Twenty20 captain and replaced him with Lasith Malinga, while Angelo Mathews was retained as the Test and one-day skipper.Chandimal, 24, opted out of the last three matches, including the semi-final and final, of the recent World Twenty20 in Bangladesh […]
” time in Sri Lanka over Buddha tattoo
COLOMBO, April 22, 2014 (AFP) – A 37-year-old British nurse recounted Tuesday her “hellish” experience in Sri Lanka after she was arrested and sent to a deportation centre for sporting a Buddha tattoo deemed offensive by authorities. In August 2012, three French tourists were sentenced to six months in jail, which was suspended for five […]
Sri Lanka vehicle registrations up 4-pct in March, commercial vehicles weak
Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed. More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent […]
Sri Lanka detains British tourist over Buddha tattoo
COLOMBO, April 22, 2014 (AFP) – Sri Lanka has detained a female British tourist for having a Buddha tattoo on her right arm and ordered her deportation, police said Tuesday.The unidentified woman was arrested at the country’s main international airport on Monday and appeared before a magistrate who ordered her deportation, police said in a […]
Capital Rating
Apr 22, 2014 (LBO) – Sri Lanka’s Dunamis Capital Plc, had been rated ‘BBB+’ with a ‘stable’ outlook and a proposed debt billion rupee debt sale ‘BBB’ by Colombo based Ram Ratings Lanka Plc. Dunamis has interests in primary dealing, stock brokering, margin trading, debt structuring, asset management and property development. The full statement is […]
Network Expansion
Apr 22, 2014 (LBO) – Melsta Regal Finance Ltd, a young finance company promoted by Sri Lanka’s Distilleries group said it has expanded into Central, North Central and Southern regions of the country.The firm offers working capital finance with Letter of Credit opening facilities, warehousing, logistics and debt factoring as well as equipment and vehicle […]
Vehicle Trend
Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed.More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent a […]
Private Equity
Apr 21, 2014 (LBO) – Sri Lanka needs private equity to play a bigger role in financing business which will help them grow faster with less leverage and become world beating firms, the Central Bank said. Financial sector professionals have attributed it to lack of skills of those who were taken to manage them, some […]
Cash Drawdown
Apr 21, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said customers withdrew a record 2.05 billion rupees from teller machines on Friday April 11, a new daily high in the run up to a traditional New Year holiday. The number transactions processed was 245,000 lower than a previous record of 325,000 which the […]