Category: Industry
Cricket: Sangakkara lifts Sri Lanka with 34th century
CHITTAGONG, February 4, 2014 (AFP) – Kumar Sangakkara became the leading century-maker among active Test players as Sri Lanka bounced back strongly after a shaky start in the second Test against Bangladesh in Chittagong on Tuesday.The tourists, who won the first Test by an innings and 248 runs in Dhaka last week, recovered from 49-2 […]
Credit Trend
Feb 03, 2014 (LBO) – Sri Lanka’s private credit is expected to pick up from this quarter, based on historical trends, but there could be a delay, Standard Chartered Bank said, as credit slowed following a balance of payments crisis.The report said further monetary easing should be viewed cautiously as it could generate currency instability […]
Consolidation
Jan 31, 2014 (LBO) – Sri Lanka’s banks and non-bank firm consolidation was progressing with meeting with individual firms with the regulator with preliminary plans expected to be submitted by March 31. In addition, the Central Bank requested all banks, NBFIs and others who are involved in the process to continue a close dialogue with […]
Sri Lanka probes China coal plant for defective materials, design
Jan 31, 2014 (LBO) – Sri Lanka is probing a Chinese built coal plant for possible material, design or construction defects, following leaks in a steam cooling unit, officials said. Power minister Pavithra Wanniarachchi said she had informed Chinese embassy officials at a meeting in Colombo that the builders had to bear responsibility for the […]
Sri Lanka JKH unit gets Air France-KLM agency
Jan 31, 2014 (LBO) – Mack Air (Pvt) Ltd, a unit of Sri Lanka’s John Keells Holdings said it will be the general sales agent for Air France – KLM in the island from February 2014.The agency for the Netherlands-based KLM was held by Sri Lanka’s Carson Cumberbatch for 50 years, dating back from before […]
Capital Raising
Jan 31, 2014 (LBO) – Sri Lanka’s Commercial Credit and Finance Plc said it planned to raise 1.6 billion rupees from a US registered company.Creation Investments Sri Lanka LLC, a Delware, USA, registered firm will initially buy 40 million shares at 21 rupees each for 1,008 million rupees, the firm said in a stock exchange […]
Cricket: ICC set to go back to the future
LONDON, January 30, 2014 (AFP) – For much of its history the International Cricket Council (ICC) was unable to do anything without the approval of England and Australia, the two original Test nations.So the announcement from the ICC’s headquarters in Dubai on Wednesday that it had agreed in principle to be effectively run by India, […]
Cricket: Five-star Perera hands Sri Lanka massive win
DHAKA, January 30, 2014 (AFP) – Off-spinner Dilruwan Perera picked up five wickets as Sri Lanka thumped fragile Bangladesh by an innings and 248 runs in the first Test in Dhaka on Thursday.Bangladesh, trailing by a huge 498-run margin on first innings, were bowled out for 250 in their second knock after lunch on the […]
” behind cricket shake-up
LONDON, January 28, 2014 (AFP) – World cricket was set for a shake-up after the International Cricket Council gave “unanimous support” for “principles” to change its structure and governance.Leaked draft proposals from the sport’s most financially powerful ‘Big Three’ nations argued for more power to be placed in the hands of India, England and Australia. […]
Cricket: Ton-up Jayawardene flays Bangladesh
DHAKA, January 29, 2014 (AFP) – Mahela Jayawardene became Test cricket’s seventh-highest run-getter with an unbeaten century as Sri Lanka compounded Bangladesh’s misery in the first Test in Dhaka on Wednesday.The veteran right-hander was on 146 not out, his 33rd Test hundred, as the tourists went to tea on the third day at 602-6, a […]
Cricket: Sri Lanka seamers rock Bangladesh in first Test
DHAKA, January 27, 2014 (AFP) – Seamers Shaminda Eranga and Suranga Lakmal shared seven Bangladesh wickets as Sri Lanka dominated the opening day of the first Test in Dhaka on Monday.Eranga finished with 4-49 and Lakmal claimed 3-66 to help bowl out Bangladesh for 232 after the tourists won the toss and chose to field […]
” given tax breaks
Jan 28, 2014 (LBO) – A 1.3 billion US dollar sea reclamation project by the main port in Sri Lanka’s capital Colombo by a Chinese firm has been given sweeping tax breaks, a government notice said.The Chinese firm will build the city and will give a part of the land to Sri Lanka’s ports agency. […]