Category: Industry
Labour Position
June 09, 2011 (LBO) – Sri Lanka was elected as a deputy member of the International Labour Organisation™s (ILO) governing body during the 100th International Labour Conference now underway in Geneva, Switzerland. The ILO governing body includes 56 regular and 66 deputy members representing the three groups that make up the ILO™s membership; governments, employers […]
Nano Cabs
June 09, 2011 (LBO) – A city taxi service using Tata Nano cars has started in Sri Lanka’s capital Colombo, but the firm cannot cope with demand for hires and is awaiting shipments from India to expand the fleet, an official said. But Dharmadasa says the firm can hardly cope with demand from local customers, […]
Offshore Support
June 09, 2011 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has begun building the second vessel in a contract for oil platform supply vessels from Greatship Global Offshore Services of Singapore. The vessel is also designed to accommodate 50 people. The keel for the Multipurpose Platform Supply Vessel, scheduled for delivery in the second quarter […]
Sri Lankan Airlines to start Zurich flights
June 8, 2011 (LBO) – State-run national carrier SriLankan Airlines is re-starting services to Zurich in Switzerland which were stopped in 2005, expanding its network to 53 destinations in 34 countries, the airline said. The services will start from December 23, 2011 and run twice weekly on Monday and Friday. “This will significantly strengthen our […]
Matched Training
June 8, 2011 (LBO) – Sri Lanka’s state-run vocational school system is seeking closer links with the software and business process outsourcing firms to develop courses to suit the sector. The Vocational Training Authority (VTA), which is overseeing 275 centres which take in 20,000 students a year, said it is signing a deal with the […]
Outsourced Work
June 08, 2011 (LBO) – R R Donnelley has opened a third business process outsourcing facility in the Sri Lankan capital Colombo as business grows with the end of the island’s ethnic war. The company, which now employs over 750 people in the island, plans to increase its workforce to over 1,000 by year-end, said […]
Credit Approvals
June 08, 2011 (LBO) – DFCC, a development finance institution (DFI) that also owns a commercial banking subsidiary said its credit approvals soared 117 percent in 2010 to 33 billion rupees amid lower interest rates though there was a lag in the drawdown of larger project loans. “¦[D]isbursements especially relating to larger projects tended to […]
Tele Tower
June 7, 2011 (LBO) – Sri Lanka has rebuilt a 175 meter television tower costing 450 million rupees to begin television and telecom transmissions to former war torn areas in the north of the island. President Mahinda Rajapaksa opened the tower Tuesday in the Kokavil region. The government’s information office said the tower will be […]
Wider Reach
June 07, 2011 (LBO) – Sri Lanka’s Richard Pieris group wants to cash in on the post-war consumer spending boom by rapidly expanding its chain of ‘Arpico’ supermarkets, a senior official said. The firm’s profits nearly doubled to 2. 1 billion rupees in 2010 due to higher returns from core business areas, plantations, retail and […]
Glitzy Loans
June 07, 2011 (LBO) – Sri Lanka’s Commercial Bank plans to extend ‘gold loans’ through its branches country-wide offering higher advances and lower rates to encourage use of gold to raise funds. The bank will offer up to 80 percent of the gold value, in the form of jewellery, biscuits or bars, and an interest […]
Cook sets up victory shot against Sri Lanka
LONDON, June 6, 2011 (AFP) – England gave themselves a chance to win their Test series against Sri Lanka with a match to spare after losing skipper Andrew Strauss for a duck at Lord’s here on Monday. The hosts, at stumps on the fourth day of the second Test, were 149 for two in their […]
Sri Lanka to see first garment factory listing
June 07, 2011 (LBO) – Orient Garments Limited, a unit of Sri Lanka’s Finco group of companies will be listed on Colombo Stock Exchange’s second board, making it the first apparel maker to go public. At one time, two privatized textile firms were listed but they were unable to compete after import duty protection was […]