Category: Industry
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Dec 16, 2012 (AFP) – Sri Lanka on Sunday unveiled new guidelines encouraging devotees to donate low-sugar, healthier food to the country’s Buddhist monks after warnings that half of them risk developing diabetes. Sri Lanka’s monks eat food containing on average 12 teaspoons of sugar a day, but it should be reduced to a maximum […]
‘s LankaCom launches IPTV platform for hotels
Dec 15, 2012 (LBO) – Sri Lanka’s LankaCom and Singapore’s SingTel has launched an IPTV based entertainment platform for hotels that gives customized entertainment and two way interaction with guests to offer and sell other services, officials said. Wizner said each room is provided with a small wireless set-top box that can connect the guest’s […]
Petro Hikes
Dec 15, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation, has raised petrol by 10 rupees to 159 and two grades of furnace oil but kept diesel and kerosene prices unchanged petroleum minister Susil Premajayantha said. Underpriced energy funded with bank loans, which are ultimately accommodated by central bank credit (printed money) causes frequent […]
Sri Lanka to revamp civil aviation regulations
Dec 15, 2012 (LBO) – Sri Lanka will revamp aviation regulations with the help of the International Civil Aviation Organization, the state information office said. The cabinet of ministers had given the nod for Sri Lanka’s Civil Aviation Authority to engage ICAO’s Technical Co-operation Bureau help with the new rules, the information office said. Sri […]
Open House
Dec 15, 2012 (LBO) – Sri lanka’s Information technology and outsourcing firms are holding an ‘open day’ on December 20 in Colombo targeting expatriate Sri Lankans who have returned to the country for the holiday season. “Many Sri Lankan IT/BPO and Knowledge Services Industry companies are looking for seasoned well experienced professionals abroad to return […]
Belgian Interest
Dec 12, 2012 (LBO) – Sri Lanka’s state investment promotion agency said a visiting Belgian delegation had expressed interest in setting up information technology and IT enabled services. At present, Belgian investments range from the manufacture of solid rubber tires, one of Sri Lanka’s single largest export firms, diamond cutting and the manufacture of cigars […]
School Software
Dec 13, 2012 (LBO) – Virtusa Corporation, a US listed IT firm with development facilities in Sri Lanka has won a top award for a school management software, which is now being used in 130 countries, the firm said. Its Àkura School Management System (http://akuraschools.org) was recognized by the World Information Technology and Services Alliance […]
Banking Secrecy
Dec 13, 2012 (LBO) – A rights activist who was a chief executive of a top financial firm has questioned what action Sri Lanka’s banks will take following an apparent breaching of banking secrecy involving accounts of the island’s chief justice. The full letter is produced below: 10th December 2012 Open Letter to; Anil Amarasuriya […]
Group Risk
Dec 12, 2012 (LBO) – Sri Lanka’s financial regulators will monitor banks connected to conglomerates closely in the future as firms and the financial sector becomes bigger in the future, Central Bank Governor Nivard Cabraal said. “I know many of you are not only looking at the banking sector but you have other businesses as […]
India may ask Sri Lanka to cut automobile tariffs: report
Dec 11, 2012 (LBO) – India is mulling asking Sri Lanka to reduce import duties which had been raised twice last year hitting small car imports and three wheeler vehicles in particular, a media report said. Another report said Chinese manufacturers are being allowed to set up assembly plants in Sri Lanka which could potentially […]
Top Rating
Dec 11, 2012 (LBO) – Fitch Ratings has confirmed a ‘AAA(lka)’ rating of HSBC Sri Lanka with a stable outlook, on the strength of its parent. The full statement is reproduced below: Fitch Affirms HSBC Sri Lanka Branch at ‘AAA(lka)’; Outlook Stable Fitch Ratings-Colombo/Seoul/Singapore-10 December 2012: Fitch Ratings Lanka has affirmed HSBC Sri Lanka Branch’s […]
Crude Block
Dec 10, 2012 (LBO) – Sri Lanka is unable to import crude oil from Iran despite a sanctions waiver by the United States, because banks are wary of opening letters of credit fearing blacklisting, a media report said. Sri Lanka’s The Sunday Times newspaper said state-run Ceylon Petroleum Corporatio, which used to buy Iranian light […]