Category: Industry
Marine Cable
Mar 10, 2014 (LBO) – Sri Lanka Telecom said it is partnering with 15 other operators to build a new submarine cable system spanning South East Asia, Middle East and Western Europe, which will be landed in Matara in the island’s south.With telecom traffic growing fast existing cable systems such as SEA-ME-WE 4 are getting […]
Sri Lanka thump Pakistan for Asia Cup title
DHAKA, March 8, 2014 (AFP) – Opener Lahiru Thirimanne hit a magnificent century to help Sri Lanka thump Pakistan by five wickets to regain the Asia Cup title in Dhaka on Saturday. The left-hander notched 101 for his third one-day hundred to anchor Sri Lanka’s successful chase of a 261-run target in 46.2 overs for […]
Rail Deal
Mar 09, 2014 (LBO) – A 600 million US dollar contract to extend a rail track from Beliatta to Kataragama in Sri Lanka’s South has been awarded to China National Machinery Import and Export Corporation (CNMIEC), a media report said.People from whom land had been acquired has already been compensated, the reported quoted Matara-Kataragama Railway […]
Reclaiming Controversy
Mar 09, 2014 (LBO) – State-run Sri Lanka Port Authority has responded to criticism over the award of an unsolicited sea reclamation project to a Chinese firm saying deals on similar lines had happened earlier. China Communication Construction Co.Ltd (CCCC), a key player in the ‘Port City’ project involving 233 hectares near Colombo Port has […]
Sri Lanka electrocution deaths excessively high: regulator
Mar 07, 2014 (LBO) – Excessively large numbers of people are dying in Sri Lanka from electrocution partly due to illegal power tapping, unsafe practices and carelessness, a regulatory official said.We are not an electrically safe country, Nilantha Sapumanage, Director Inspectorate of Public Utilities Commission of Sri Lanka told a forum in Colombo organized by […]
SriLanka Airlines to join oneworld from May 01
Mar 07, 2014 (LBO) – State-run SriLankan Airlines said it is on track to join OneWorld, a global alliance of carriers on May 01, following the successful completion of a review by its sponsor, Cathay Pacific Airways. As part of oneworld, SriLankan will all of its customers seamless connections across a global network serving almost […]
Cricket: Sangakkara, Afridi set to light up Asia Cup final
DHAKA, March 7, 2014 (AFP) – Rampaging Shahid Afridi and prolific Kumar Sangakkara have set the stage for a rousing contest when Pakistan face Sri Lanka in the Asia Cup one-day final in Dhaka on Saturday.Angelo Mathews’ Sri Lanka have been the dominant team in the five-nation event with four straight victories in the league, […]
Sri Lankan bowlers restrict Bangladesh to 204-9
DHAKA, March 6, 2014 (AFP) – Sri Lanka bowled a tight line and length to restrict Bangladesh to a modest 204-9 in their last league match of the Asia Cup in Dhaka on Thursday.Spinners Ashan Priyanjan (2-11) and Ajantha Mendis (2-55) put the brakes on after Bangladesh won the toss and made a promising start, […]
Fast Phone
Mar 06, 2014 (LBO) – Sri Lanka’s Dialog Axiata said it had offering a 4G Smartphone to its own-brand range.Customers wanting to upgrade to the firms 4G-LTE network with burst speeds of up to 40Megabits per second could use the Dialog Q 143L Smartphone, the firm said in a statement. “Sri Lankan mobile users are […]
Car Parade
Mar 06, 2014 (LBO) – A British car day will be held on March 16, with classic cars and motorbikes dating back from the 1930s to be on parade in Sri Lanka’s capital Colombo.The owners will dress in “period outfits, adding to the authenticity of the event and bringing a touch of humor,” the organizer […]
Sri Lanka insurance sector needs consolidation push: Presidential advisor
Mar 05, 2013 (LBO) – Sri Lanka’s insurance sector may need a regulatory push for mergers as another regulatory driven move splits general and insurance business, an influential head of an insurance firm has said.“While appreciating this effort, I am hopeful that the remaining issues on tax credits and stamp duty on property transfers will […]
‘ AIA Insurance unit discloses values ahead of split
Mar 05, 2014 (LBO) – Sri Lanka’s AIA Insurance Lanka Plc said it had valued its general insurance business ahead of a split of life and non-life divisions under a regulatory requirement in the third quarter of 2014.AIA Insurance Lanka said it was using its “best and reasonable endeavors to brief shareholders of a possible […]