Category: Industry
Banking Forum
June 13, 2013 (LBO) – A forum for chief financial offers will kick off Thursday evening on opportunities, strategies and challenges with respect to the future growth of Sri Lanka’s banking sector. Senior bankers and a senior representative from Central Bank will take part in panel discussion on the above areas and other key challenges. […]
Transit Loss
June 12, 2013 (LBO) – Sri Lanka’s vehicle importers have been badly hit by a sharp increase in theft of parts in vehicles imported via Hambantota port and security has been tightened, officials said.“Our members frequently complain to us that there is a strong increase in the stealing of vehicle parts especially in the past […]
Sri Lanka investment approval for Crown in final stages: minister
June 12, 2013 (LBO) – Investment approval for Australian magnate James Packer’s Crown group for a joint venture mixed development in Sri Lanka is being finalized and details will be presented parliament soon, investment minister Lakshman Abeywardena said.If the promoters wish to shift a casino to the project he said that was between the partners […]
Asset Mix
June 12, 2013 (LBO) – Sri Lanka’s licensed finance companies (LFC), which play in the sub-prime market has cut exposure to property and stocks, though they are facing an uptick in non-performing loans amidst a downturn, a rating report said.Investments in land and property had fallen to 1.86 percent of assets in the 9 months […]
Sri Lanka power generation positive in March
June 12, 2013 (LBO) – Sri Lanka’s power generation rose 02 percent in March 2013 to 1,057 GigaWatt hours (millions of units) from a year earlier, recovering from a slump in February official data showed.In February 2013 power generation fell 1.4 percent to 913 GWh from a year earlier. In February 2012, Sri Lanka raised […]
‘s Cinnamon Air to fly from end June
June 12, 2013 (LBO) – Sri Lanka’s Cinnamon Air, a domestic carrier operating Cessna 208 amphibians said will begin scheduled flight to the South of the island and Kandy in the central hills from the end of June. Daily flights to Koggala and Dickwelle will be from Dandugama Oya waterdrome which is 10 minutes away […]
Big Brother
WASHINGTON, June 12, 2013 (AFP) – A fierce debate about Internet privacy and the limits of US executive power erupted on Tuesday, in a victory for the young intelligence technician at the center of a global leak storm. While Democratic Senator Dianne Feinstein, the head of the Senate intelligence committee, branded the leak an “act […]
Sri Lanka export agency under Nestlé executive
June 11, 2013 (LBO) – A senior executive of Nestlé, a Swiss-based food group company has been appointed chairman of Sri Lanka’s state export promotion agency, the ministry of commerce said.Bandula Egodage, vice president, corporate affairs at Nestlé Lanka Plc has was formally made chairman at a ceremony at Export Development Board’s office in Colombo […]
Sri Lanka canned fish factory explored by Thai firm
June 11, 2013 (LBO) – Thai Union Manufacturing Company is planning a fish canning factory in Sri Lanka and a team is expected to arrive later this month to conduct a feasibility study an official said.“Sri Lanka is importing large amount of canned fish right now,” National Aquatic Resource Agency chairman S G Samarasundara said. […]
Big Brother
HONG KONG, June 11, 2013 (AFP) – Whistleblower Edward Snowden was acclaimed Tuesday by WikiLeaks founder Julian Assange as a “hero” defending personal liberty, but US lawmakers clamoured for the NSA contractor’s immediate expulsion from his Hong Kong hideout to face justice at home.Snowden, a 29-year-old technology expert working for a private firm subcontracted to […]
Education Direction
June 11, 2013 (LBO) – Sri Lanka’s state education system is in the process of changing its structure from an exam centric one to a more interactive learning system, the island’s education minister said.“There should be a structural change in the education system to help with the employment requirements of the country,” minister Bandula Gunawardena […]
Sri Lankan applicants on fast track for UK visa
June 11, 2013 (LBO) – Applicants from Sri Lanka who had recently travelled to some North American, European and Pacific countries could apply for a fast track visa, the UK High Commission (embassy) in Colombo said. From June 24, Sri Lankans who had travelled “without difficulty” to the USA, Canada, UK, Australia, New Zealand or […]