Category: Industry
Pakistan plans own version of IPL
LAHORE, April 13, 2011 (AFP) – Pakistan hopes to launch a new cricket league based on the lucrative Indian Premier League in a bid to win back its status as an international host, an official said on Wednesday. International cricket has been suspended in Pakistan since March 2009 when gunmen attacked a convoy carrying the […]
No Padding
SAN FRANCISCO, April 13, 2011 (AFP) – Figures released on Wednesday showed that the personal computer market shrank for the first time in more than a year due to frugality and a tablet computer craze led by Apple’s hot-selling iPads. “Instead, consumers turned their attention to media tablets and other consumer electronics. ” After Apple’s […]
” bra goes on sale: report
Apr 13, 2011 (LBO) – The world’s first ‘carbon neutral’ bra, made at an eco-friendly factory Sri Lanka that uses hydro electricity, is going on sale at Marks and Spencer (M&S), a UK based retailer, a media report said. Sri Lanka is a key supplier of lingerie to top global brands. The country’s top apparel […]
Sri Lanka left with $23 mln debt by World Cup
April 11, 2011 (AFP) – Sri Lanka Cricket said Monday it is saddled with a -million-dollar debt after cost overruns and hefty bills incurred building stadiums for the recent World Cup. “We spent a lot of money to host the World Cup, to build two stadiums and rebuild one stadium. The World Cup left us […]
Sri Lanka tourist arrivals up 43.5-pct in March
Apr 12, 2011 (LBO) – Sri Lanka’s tourism arrivals rose 43. 5 percent in March 2011 to 75,130, with steep increases seen from South Asia and several European generating markets, data from the tourist promotion office showed. Australia and New Zealand rose 50 percent to 3,540 and North America was up 16.8 percent to 3,990. […]
Efficiency Lift
Apr 12, 2011 (LBO) – Sri Lanka Ports Authority (SLPA) has taken delivery of new cranes to replace old ones at its main container terminal in Colombo port that will help improve productivity, officials said. The company which supplied the original cranes is no longer functioning, making the supply of spares a problem, it said. […]
SriLankan Engineering wins IndiGo fleet maintenance deal
Apr 11, 2011 (LBO) – SriLankan Airlines said its aircraft maintenance arm SriLankan Engineering has secured a deal to carry out maintenance checks on twenty aircraft for India’s largest low-fare carrier IndiGo in 2011. SriLankan Engineering has in recent years been positioning itself as a Maintenance-Repair-Overhaul (MRO) organisation in the region. It was SriLankan Engineering’s […]
Branch Support
Apr 11, 2011 (LBO) – Fitch Ratings Lanka said that Standard Chartered Bank’s Sri Lanka branch’s (SCBSL) ‘AAA(lka)’ national long-term rating will not be affected by the 27 billion rupee fine imposed by the central bank. The outlook on the rating is stable, the rating agency said in a statement. The central bank’s Department of […]
Rally for Sri Lanka ex-skipper flops
April 9, 2011 (AFP) – A campaign by fans of Sri Lanka’s World Cup-losing skipper Kumar Sangakkara to demand his reinstatement ended in a flop Saturday, with only a handful of supporters turning up. The wicketkeeper-batsman, currently in India to play in the lucrative Indian Premier League Twenty20 tournament, has said he has no plans […]
Banking Ties
Apr 10, 2011 (LBO) – Amana Bank, Sri Lanka’s first licensed commercial bank operating on Islamic banking principles will receive technical support from Bank Islam Malaysia which has taken a 20 percent stake, a media report said. Malaysia is a centre for Islamic finance, where banking is conducted under Sharia law, which prohibits the charging […]
Sri Lanka officials learn WTO services rules from Singapore
Apr 09, 2010 (LBO) – Sri Lanka’s government officials are learning more about World Trade Organization rules on services from Singapore as the country pushes ahead with becoming a trade and services hub. Experts from Singapore’s Temasek Foundation Centre for Trade and Negotiations (TFCTN) as well as experts from other countries are training Sri Lanka’s […]
Oil Mercantilism
Apr, 08, 2011 (LBO) – A top US monetary economist has poured cold water on fears about the world running out of oil, an idea which gains special prominence when the US Fed loosens monetary policy, debases the dollar and sends commodities bubbling up. Nixon at the time even halted exports of food commodities, instead […]