Category: Industry
Mobile Banking
June 22, 2011 (LBO) – Sri Lanka’s Commercial Bank plans to offer more mobile phone banking services such as allowing customers to remit funds and check the status of deposited cheques. Commercial Bank’s internet banking facilities are also to be shortly offered via a Wireless Application Protocol (WAP) portal, the bank said in a statement. […]
Expanding Reach
June 22, 2011 (LBO) – Sri Lanka’s state-run Regional Development Bank has established a presence in the island’s former northern war zone by opening its first branch in Vavuniya. It aims to accelerate economic activity in the region focusing on the small and medium enterprises, agriculture sector and tourism. We are mainly looking at providing […]
Bell century puts England ahead of Sri Lanka
SOUTHAMPTON, June 19, 2011 (AFP) – Ian Bell’s second hundred in three matches helped England stay on top in the third and final Test against Sri Lanka at the Rose Bowl here on Sunday. Sri Lanka were 112 for three in their second innings at stumps on the fourth day — still 81 runs behind […]
Sri Lanka plantations, private power firms to get ADB funds
June 20, 2011 (LBO) – Sri Lanka has signed a deal with the Asian Development Bank (ADB) to get financial aid worth 120 million US dollars part of which will go to private power firms and hydro schemes on plantations. “The project will contribute to a reliable, adequate and affordable power supply for balanced and […]
Sri Lanka textile firm to raise Rs1.2bn in July IPO
June 20, 2011 (LBO) – Textured Jersey Lanka, a Hong Kong Sri Lanka joint venture textile firm said it is raising 1.2 billion rupees in an initial public offer by selling 80 million shares at 15 rupees. In April the firm said it raised 1.74 billion rupees through a private placement. The Colombo Stock Exchange […]
Sri Lanka Textured Jersey to expand fabric production
June 20, 2011 (LBO) – Sri Lankan fabric supplier Textured Jersey Lanka plans to use funds raised through a private placement and a forthcoming public offer to expand production and buy modern machinery to improve efficiency. Subsequent to the IPO, Pacific Textiles, through its wholly owned subsidiary Pacific Textured Jersey Holdings, and Brandix Lanka, will […]
Unpaid Work
AMARA, June 19, 2011 (AFP) – Thirty Sri Lankan construction workers in southern Iraq have been on a five-day hunger strike because they have not been paid for the past two years by their Iraqi employers, the labourers said Sunday. Thousands of South Asian workers are employed in menial jobs in oil-rich Iraq, many working […]
Refining Revision
June 20, 2011 (LBO) – Sri Lanka is holding talks with Iran to get more funds to expand its sole oil refinery after new feasibility studies indicated the cost would rise to two billion US dollars, an official said. Titus Jayewardene, secretary to the petroleum ministry, said the cost of the modernisation to double refining […]
Russian Interest
June 19, 2011 (LBO) – A team from Russia’s Gazprom would visit Sri Lanka to discuss oil exploration, building a refinery and using liquefied natural gas in the island following a meeting with visiting President Mahinda Rajapaksa. A government statement said President Rajapaksa met Gazprom chief Alexei Miller at an economy form in St. Petersburg […]
No ton no problem for Pietersen
SOUTHAMPTON, June 18, 2011 (AFP) – Kevin Pietersen insisted he felt “a lot of happiness” despite missing out on a Test century against Sri Lanka at the Rose Bowl here on Saturday. Pietersen made a fluent 85 to help England to 195 for four at stumps on the third day of the third and final […]
Media Profits
June 19, 2011 (LBO) – Profits of Sri Lanka’s state media enterprise rose in 2010, with profits of Independent Television Network (ITN) television station rising 66 percent to 308 million rupees, a finance ministry report said. Sri Lanka Broadcasting Corporation, a state radio station had posted up profits of 42. 6 million rupees, up from […]
Tremlett rips through Sri Lanka batting order
SOUTHAMPTON, June 17, 2011 (AFP) – Chris Tremlett marked his return to the Rose Bowl with a Test-best haul to leave Sri Lanka on 177 for nine when rain forced an early close to the second day of the third and final Test here on Friday. Fast bowler Tremlett took six for 42 in 18.2 […]