Industry – Page 468 – Lanka Business Online

Broad Expansion

Jan 20, 2014 (LBO) – Sri Lanka Telecom said it had expanded broadband service coverage by deploying fourth generation wireless technology to areas that are not served by its wired network.From January data volumes on all broadband packages had been increased. SLT provides broadband services through ADSL (assymetrical-digital-subscriber-lines), fibre to home and now through 4G […]

Sri Lanka US$7.8mn resort opens

Jan 20, 2014 (LBO) – A 96-room hotel built with an investment of 7.8 million US dollars has opened in Sigiriya in central Sri Lanka. The Aliya (elephant in Sinhalese language) Resort & Spa, is constructed on a 22-acre area to blend with villages in the area, Sri Lanka’s economic development ministry said after minister […]

Cricket: Shehzad hits hundred but Pakistan toil for runs

SHARJAH, January 18, 2014 (AFP) – Opener Ahmed Shehzad scored a maiden century but Pakistan toiled for runs in their bid for a series-levelling win against Sri Lanka in the third and final Test in Sharjah on Saturday. The 22-year-old right-hander made 147 in only his second Test as Pakistan scored 291-6 at close on […]

Obituary

Jan 19, 2014 (LBO) – R B Ekanayake, an information communications technology industry veteran who was has contributed in key ways to automating Sri Lanka’s banking sector has passed away.He had been President of Sri Lanka’s Association Professional Bankers had as received the award for the ‘Most Outstanding Contribution to the Banking Sector.‘ Ekanayake was […]

Access

OSLO, January 18, 2014 (AFP) – Most books published in Norway before 2001 are going online for free thanks to an initiative that may have found the formula to reconcile authors with the web.At a time when the publishing world is torn over its relationship to the Internet — which has massively expanded access to […]

Cricket: Perera, Mathews miss hundreds as Sri Lanka foil Pakistan

SHARJAH, January 17, 2014 (AFP) – Dilruwan Perera missed a century on his debut while skipper Angelo Mathews fell for 91 as Sri Lanka frustrated Pakistan in the third and final Test in Sharjah on Friday.Perera (95) and Mathews made life difficult for Pakistan through their 112-run seventh wicket stand before Sri Lanka declared their […]

Merger Path

Jan 18, 2014 (LBO) – Sri Lanka’s banks and well managed larger non-bank lenders will be encouraged to swallow up to three second tier firms with tax breaks and cheaper financing, a plan released by the banking regulator said.A presentation by Sri Lanka’s Central Bank Governor Nivard Cabraal made to the financial industry has asked […]

Sri Lanka battle hard against Pakistan spinners

SHARJAH, January 16, 2014 (AFP) – Sri Lanka battled hard against Pakistan’s spinners led by Saeed Ajmal to reach 220-5 at close on the opening day of the third Test in Sharjah on Thursday.Ajmal took 2-62 to leave Sri Lanka struggling at 166-5 before Angelo Mathews (24) and Prasanna Jayawardene (28) saw off the day […]

First Call

Jan 16, 2014 (LBO) – MV OEL Emirates, the latest vessel in Dubai-based Orient Express Lines had made its maiden call at Sri Lanka’s Colombo port.OEL has services from Colombo to Chennai, Cochin , Tuticorin, Male and Chittagong. Orient Express Lines is a member of Dubai-based Transworld Group of Companies which also has interests in […]

Cricket: Sri Lanka says Bangladesh tour still on

COLOMBO, January 15, 2014 (AFP) – Sri Lanka is to go ahead with a tour to Bangladesh later this month after carrying out its own security assessment in the violence-plagued country, cricket board officials said Wednesday.“There is no such thing. No one has asked us to host the Asia Cup,” Ranatunga said.“The original decision of […]

Consolidation

Jan 14, 2013 (LBO) – Sri Lanka’s financial regulator, the Central Bank, said it will outline a master plan to consolidate banks and finance companies with one-to-one meetings to be held among lenders thereafter. The 2009 one involved property and oil derivatives going bad, and the 2011/2012 bubble involved state enterprise credit, margin and gold […]

Credit Trend

Jan 13, 2014 (LBO) – Credit to business and personal customers rose 22.3 billion rupees in November 2013 to 2,519 billion rupees, up 7.3 percent from a year earlier, while loans to the state fell, official data showed.Loan to deposit ratios can deteriorate as the Central Bank expands its balance sheet by purchasing securities from […]