Category: Industry
Cable Centre
Mar 27, 2014 (LBO) – Sri Lanka Telecom said it is forming a venture with Indian Ocean Cableship (Pvt) Ltd, a Singapore based firm, to set up an undersea cable maintenance base at Hambantota port in the island’s south.The SEA-ME-WE-05 cable, the latest in a series of cables running from South East Asia to Europe […]
Higher Learning
Mar 27, 2014 (LBO) – Indunil Liyanage, Chief Marketing Officer of state-run Bank of Ceylon has conferred a Doctor of Philosophy (PhD) by Colombo University.His doctoral thesis, on ‘Role Stressors and the Impact of Coping styles on Perceived Job Performance’ was based on 5-years of research. Liyanage already holds a Masters degree in management from […]
Top Rating
Mar 27, 2014 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of HSBC’s Sri Lanka branch with a stable outlook. HSBC has seen loans growing 6.1 percent in the nine months to September 2013. Large corporate customers made up 64 percent of its rupee loans. Of the retail loan book, 43 percent was from […]
” rating confirmed
Mar 26, 2014 (LBO) – Fitch Ratings has confirmed a ‘BB” issuer financial strength rating of Sri Lanka Insurance Corporation with a stable outlook. Fitch said it had a franchise built up since 1961 and an asset base of over 140 billion rupees. It was the market leader in non-life insurance taking 23 percent of […]
‘s Janashakthi Insurance ready for splitting, RBC regime
Mar 26, 2014 (LBO) – Sri Lanka’s Janashakthi Insurance was ready to split its life and general businesses, later list the second unit and also move to a risk based capital regime (RBC), an official said.Managing Director Prakash Schaffter said the businesses will be split later this year. The existing listed Janashakthi Insurance will be […]
Mobile Money
Mar 25, 2014 (LBO) – Payments through mobile phones have topped 700 million rupees a month, Sri Lanka’s Dialog Axiata said as Etisalat, a competitor tied up to use the service, in what officials said was the world first such partnership.Dialog group chief executive Hans Wijayasuriya said all operators in Sri Lanka had been invited […]
Liberty Call
SINGAPORE, March 24, 2014 (AFP) – Control of the Internet should be handed from US supervision to a diverse group of stakeholders, and not to governments that could limit freedoms, a meeting on the web’s future heard Monday.Organisers also said that a US decision to relinquish control was not the result of any one event […]
Consumer Push
Mar 24, 2014 (LBO) – Sri Lanka’s HSBC said it was giving a boost to fashion retailing with 30 top retailers giving credit card discounts and a ‘fashion hawker street’ ahead of upcoming traditional New Year holidays. The ‘HSBC Fashion Festival’ kicks off on March 24 with starting with retailers Arugambay, Abstract, Brands Warehouse, Brands […]
Cricket: Clinical Sri Lanka upstage South Africa
CHITTAGONG, March 22, 2014 (AFP) – World number one Sri Lanka held their nerve in the final overs to pull off a narrow five-run victory over South Africa in Chittagong on Saturday.Left-handed opener Kusal Perera hit a brilliant 40-ball 61 to lift Sri Lanka, who won the toss and batted, to 165-7 before restricting South […]
Cricket: Perera lift Sri Lanka to 165-7 in World Twenty20
CHITTAGONG, March 22, 2014 (AFP) – Kusal Perera hit a robust half-century to lift Sri Lanka to 165-7 in their group one Super-10 stage match against South Africa in Chittagong on Saturday. Sri Lanka’s most experienced trio of Tillakaratne Dilshan (nought), Mahela Jayawardene (nine) and Kumar Sangakkara (14) failed to supplement Perera. South African captain […]
Sri Lanka hotels see “excellent” winter season
Mar 22, 2014 (LBO) – Sri Lanka’s hotels have seen a good winter season with high occupancy levels, backed by stable pricing and strong arrivals from Western Europe, Russia and China, officials said.“Occupancies have increased really,” Jayantissa Kehelpannala, head of Sri Lanka’s tourist hotels association said. “Sometimes it is very difficult to even get a […]
‘s Laugfs says mini-hydro plant running
Mar 21, 2014 (LBO) – Sri Lanka’s Laugfs Gas Plc, a group with interests in energy, retailing and leisure said the first phase of a mini hydro power plant has started operations on March 17.It will sell power to state-run Ceylon Electricity Board. Laugfs had earlier said its Ranmudu Oya mini-hydro plant is Balangoda will […]