Category: Industry
Outsource Work
Mar 08, 2011 (LBO) – Sri Lanka’s Dialog Axiata, the island’s largest mobile operator, said it plans to set up an Information Technology (IT)-enabled services venture and was looking for an international partner for business process outsourcing work. Dialog Axiata chief Hans Wijayasuriya said last month that new investments of 150 million US dollars will […]
Finance Rating
Mar 08, 2011 (LBO) – Sri Lanka’s Fitch Ratings said it had confirmed a ‘BB-(lka)’ rating of Edirisinghe Trust Investment Ltd’s (ETI), a registered finance company, with a ‘stable’ outlook. “ETI’s rating reflects its relatively weak core equity position and large exposure to real estate investments,” the rating agency said. “It also takes into account […]
Above Ground
Mar 08, 2011 (LBO) – Sri Lanka’s Road Development Authority is considering building an elevated highway to connect the capital’s city centre with two key suburban towns and reduce congestion, R W R Pemasiri, its director-general, said. “We can make it a toll road,” Pemasiri said. “We’re planning a feasibility study on the project soon […]
Land Strip
Mar 07, 2011 (LBO) – The Sri Lankan state will acquire a one metre strip of land on either side of roads for utilities to avoid the need for digging up roadways, a senior official said. Pemasiri said the high cost of acquiring land has deterred the state electricity utility from going underground with most […]
Sri Lanka flight caterer expects more business
Mar 07, 2011 (LBO) – Sri Lanka’s sole inflight caterer says it is experiencing a surge in demand as the end of a war is drawing more tourists to the country and is also actively chasing and winning new business from airlines which did not buy from Colombo. Though SriLankan Catering, a unit of the […]
Telco Investment
Mar 07, 2011 (LBO) – Sri Lanka Telecom, the country’s largest fixed access provider said it is increasing capital expenditure which had flagged during a recent downturn to modernize its network, build broadband capacity and expand into former war torn areas. The firm is also selling wholesale capacity to other operators. The firm had a […]
Sri Lanka Galadari unit in profit for second successive quarter
Mar 07, 2011 (LBO) – Sri Lanka’s Galadari Hotels said profits rose 49 percent in the December 2010 quarter to 320 million rupees from a year ago, helped by forex gains, its second successive quarterly profit after a string of losses. The Employees Provident Fund (EPF), a pension fund of private citizens managed by the […]
Handling Risk
Mar 07, 2011 (LBO) – South Asian financial sector professionals should share experiences and build networks to provide support in future in handling financial risks, a central bank official told a meeting in Sri Lanka. “Highly competitive global financial markets have created unprecedented levels of volatility which in turn has highlighted importance of proper risk […]
Currency Effect
Mar 07, 2011 (LBO) – Colombo Dockyard has warned that a stronger rupee could hit profitability at the yard which last year saw profits dip owing to stiff competition and a downturn in its main tanker repair business. Ship repair, its main business. contributed only 30 percent of the total revenue volume of Sri Lanka’s […]
Sri Lanka-Aussies washed out, Dhaka in security row
NEW DELHI, March 5, 2011 (AFP) – Torrential rain washed away defending champions Australia’s World Cup clash with Sri Lanka on Saturday, just as the eagerly awaited encounter between the fierce rivals was coming to the boil. Sri Lanka had made 146-3, with skipper Kumar Sangakkara hitting an unbeaten 73, when Colombo’s R. Premadasa stadium, […]
Angry Bangladesh fans stone West Indies team bus
DHAKA, March 4, 2011 (AFP) – Angry Bangladesh fans stoned the West Indies bus on Friday after the home team crashed to a humiliating nine-wicket defeat in the cricket World Cup. Two windows of the bus were smashed as it was leaving the Sher-e-Bangla stadium after the match in what police claimed was a case […]
Hair still has doubts about Murali
SYDNEY, March 5, 2011 (AFP) – Former Australian Test umpire Darrell Hair still has doubts about Sri Lankan star Muttiah Muralitharan’s bowling action, more than a decade after he called him for chucking, a report said Saturday. Hair, who called Muralitharan for throwing in 1995, said he felt that some of the Sri Lankan legend’s […]