Category: Industry
More Domains
SAN FRANCISCO, June 29, 2013 (AFP) – The agency in charge of website addresses passed a major milestone Friday on the path to broadening the world of domain names by the end of this year.The first new website address endings should be available in the final quarter of this year, according to Namazi. The revamped […]
US suspends GSP benefits to Bangladesh over worker safety
WASHINGTON (AFP) – The United States withdrew key trade privileges from Bangladesh Thursday, citing dangerous conditions for workers in the wake of a factory building collapse that killed over 1,100 people. The collapse was by far the worst disaster ever in the global textiles industry, leaving 1,129 people dead and shocking many used to the […]
”: Bangladesh
DHAKA, June 28, 2013 (AFP) – A furious Bangladesh on Friday criticised a “shocking” decision by the United States to cut trade privileges after a deadly garment factory collapse, insisting it had taken concrete action to improve safety.In his announcement that Bangladesh was losing its duty-free trade privileges, US President Barack Obama said the Dhaka […]
Peak Cellular
June 28, 2013 (LBO) – Sri Lanka’s mobile subscriber base has started to shrink, falling by almost a million subscribers in the first quarter of 2013, the first time since the industry began its explosive growth in 1992, data from the regulator showed.Total mobile subscribers fell 988,337 to 19,335,733 in the March 2013 quarter from […]
Education Revamp
June 28, 2013 (LBO) – Sri Lanka will start a technology stream in its secondary school system and boost facilities and teachers to increase students studying science and commerce with a 200 million US dollar Asian Development Bank program. “The current system needs a major overhaul so that young people have the skills to enter […]
Steady Rating
June 28, 2013 (LBO) – Sri Lanka’s People’s Bank’s exposures to the state and state enterprises has gone up in 2012, and the lender plans to cut exposure to gold backed loans, Fitch Ratings said confirming its ‘AA+(lka)’ rating. The lender which accounts for 20 percent of banking assets, 23 percent of loans and 19 […]
‘s eyes banana, tuna fishing in Sri Lanka: ministry
June 27, 2013 (LBO) – Japan’s ITOCHU Corporation is looking at expanding trade and investment in banana and tuna fishing in the island, Sri Lanka’s economic development ministry said.The ministry said Kouhei Watanebe, Chairman, Japan – Sri Lanka Business Co-operation Council and adviser to ITOCHU Corporation had had talks with economic development minister Basil Rajapaksa […]
New Rules
BRUSSELS, June 27, 2013 (AFP) – European finance ministers on Thursday agreed a draft deal on new rules for bank rescues that will only allow bailouts by taxpayers in exceptional cases and shift the burden onto bank owners, creditors and large depositors.The Irish presidency said it hoped the new rules would be finalised by early […]
Foreign Credit
June 27, 2013 (LBO) – Sri Lanka’s Hatton National Bank said it had inked a deal to raise 49 million US dollars from China Development Bank. Acting chief executive of Hatton National Bank, Jonathan Alles said it was the second loan given by CDB, indicating the confidence in the bank’s strength. State-run CDB has assets […]
Expansion Idea
June 27, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the island’s largest non-bank lender is studying investments in fast growing economies in South East Asia, shareholders were told.“We have already earmarked to penetrate into the growth centric Southeast Asia possibly Vietnam, Myanmar and Indonesia,” chief executive D P Kumarage said in the […]
Tripartite Finance
June 26, 2013 (LBO) – Netherlands-based Triodos Bank will take a 10 percent stake to join Bangladesh’s BRAC in building micro financier, Sri Lanka’s Lanka Orix group said after taking over a listed finance company. Triodos has operations in finance, fund management and renewable energy. LOLC and BRAC Wednesday took control of Nanda Investment and […]
”’ by S&P
June 26, 2013 (LBO) – Sri Lanka’s National Development Bank was given a ‘B+’ rating by Standard and Poor’s Rating Services, ahead of a planned international fund raising. “The ratings on NDB reflect the bank’s satisfactory business and revenue diversification and adequate risk management practices,” S & P analyst Amit Pandey said in a statement. […]