Category: Industry
Sri Lanka slashes budget for Australia visit
June 26, 2011 (AFP) – Sri Lanka’s cash-strapped cricket administration has slashed the budget for Australia’s tour, the island’s sports minister said Sunday, stressing security would not be compromised. Australia are due to play three Tests, five one-day matches and two Twenty20 games during their August 6 to September 20 tour of Sri Lanka. “We […]
Sri Lanka league to go ahead without India
June 26, 2011 (AFP) – Sri Lanka Cricket will push ahead with its inaugural premier league with Australian and Pakistani players, despite a no-show by Indian stars, the island’s sports minister said Sunday. “We will lose a bit of money because Indian players are not coming but the tournament will be played as planned,” Mahindananda […]
Sri Lanka seen luring back apparel buyers
June 27, 2011 (LBO) – Sri Lanka has begun luring back foreign apparel buyers who shifted to other Asian producers following the global economic crisis after they failed to meet buyer expectations, an exporter has said. It has five garment manufacturing plants with almost 1,500 direct sewing machines, two embroidery units with 105 embroidery sewing […]
Sri Lanka consolidating knit fabric niche
June 27, 2011 (LBO) – Sri Lanka is fast becoming a niche producer of knitwear with the with finished products exports growing faster than those with woven cloth, partly due to the country’s specialization in intimate apparel, officials said. Omar says Textured Jersey could catch a part of the market, which is about three times […]
Tele Affordability
June 27, 2011 (LBO) – Sri Lanka is among the top three countries in the world to see a sharp increase in telecom services affordability, a study by the International Telecommunications Union, a UN affiliated body has shown. ITU’s 2010 ICT Price Basket, measures the change in costs of mobile, fixed and fixed broadband services […]
‘s Jetwing plans Rs5bn equity raising: report
June 27, 2011 (LBO) – Sri Lanka’s Jetwing Leisure group plans a raise 5. 0 billion rupees for expansion through a private placement and an initial public offer, as tourist arrival rise after a war, officials and reports said. It also runs Vil Uyana in Sigiriya and Hunas Falls in off Kandy in the central […]
Stringent Standards
June 27, 2011 (LBO) – RAM Ratings Lanka has reaffirmed the Construction Guarantee Fund’s (CGF) long- and short-term financial enhancement ratings at BBB+ and P2 with the long-term rating having a stable outlook. “The ratings are supported by the Fund’s very strong capitalisation and stringent underwriting standards, as well as the expected financial support from […]
Asset Quality
June 27, 2011 (LBO) – Fitch Ratings Lanka has confirmed Sinhaputhra Finance’s (SFL) national long-term rating at ‘B(lka)’ with a negative outlook. The confirmation reflects the latest improvement in SFL’s credit risk management practices and the subsequent “stabilisation” in its asset quality, although the latter still remains weaker than its peers’ average, a statement said. […]
Sri Lankans support commonwealth games bid: poll
June 26, 2011 (LBO) – A bid for the 2018 commonwealth games by Sri Lanka’s Hambantota city has received 63 percent backing in a nationwide poll, while the people in the immediate area had backed it 86 percent, a statement said. The survey was conducted by The Nielsen Company among 2,600 males and females aged […]
Sri Lanka plans tourist park with errant crocodiles: report
June 26, 2011 (LBO) – Sri Lanka is planning a crocodile park in Muturajawela in the Gampaha district with errant crocodiles in the Gampaha district which will be developed as a tourist attraction, a media report said. The park will be populated with captured crocodiles that are now posing a threat to villages in the […]
‘s Jetwing leisure group plans new resorts in East, centre
June 25, 2011 (LBO) – Sri Lanka’s privately held Jetwing leisure group, is planning new project in the central and war-torn eastern areas of the island that will add 500 rooms over the next two years catering to a post-war boom, officials said. “We are looking at 50 rooms in the first phase and another […]
Sri Lanka doubles ICT workforce in four years
June 24, 2011 (LBO) – Sri Lanka’s information and communications technology workforce has doubled in the past four years as the island ramps up training and investment to make the sector a key export industry. The industry aims to increase the ICT sector export earnings to a billion dollars by 2016, he said. A new […]