Category: Industry
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 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 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 […]
Cricket: Two Sri Lankans pulled up for excessive appealing
CARDIFF, June 9, 2013 (AFP) – Former Sri Lankan captains Mahela Jayawardene and Tillakaratne Dilshan have been reprimanded for appealing excessively during Sunday’s tense Champions Trophy clash against New Zealand.The charges against Jayawardene and Dilshan were laid by on-field umpires Bruce Oxenford and Rod Tucker, and television umpire Ian Gould. An official reprimand is the […]
AirAsiaX plans huge fleet expansion with IPO
KUALA LUMPUR, June 10, 2013 (AFP) – Malaysian long-haul budget carrier AirAsia X said Monday it plans to use proceeds from a public listing to more than triple its fleet in the next four years to meet demand in Asia-Pacific.Aviation tycoon Tony Fernandes said the long-haul arm of budget giant AirAsia hopes to raise up […]
Great Expectations
June 10, 2013 (LBO) – Sri Lanka’s small and medium enterprises could use e-commerce “to grow exponentially,” software and outsourcing chamber official said welcoming plans by authorities to liberalize Paypal inward payments.Central Bank Governor Nivard Cabraal said last month, that the regulator was “seriously” looking at liberalizing Paypal inward remittances, which had been blocked in […]
Moving Foreward
June 08, 2013 (LBO) – Sri Lanka’s Kia automobile distributor which launched the 2013 Sorento sport utility model in Colombo is banking on tax slashed permits issued to state workers to sell the vehicles, an official said.“We haven’t gone in to those markets yet but I am sure there is potential,” Perera said.“I guess with […]