Category: Industry
Finance Quality
Feb 14, 2011 (LBO) – Sri Lanka’s registered finance companies (RFCs) are gradually recovering from the weakened economic climate that prevailed in 2008 and 2009, a ratings report said. RAM Ratings (Lanka) said the sector has benefitted from falling interest rates which has increased margins due to deposit rates falling faster than rates on loans. […]
Mobility Monitor
Feb 14, 2011 (LBO) – Car imports into Sri Lanka shot up by 300 percent to 23,072 in 2010 after the government slashed import duty and also because of rising demand after the end of a war, a government statement said. It said the number of cars registered with the motor traffic department in 2009 […]
Sri Lanka smash Netherlands
February 12, 2011 (AFP) – Hosts Sri Lanka proved far too strong for minnows Netherlands, posting a crushing 156-run victory in a morale-boosting World Cup warm-up match on Saturday. Sri Lanka, runners-up at the 2007 World Cup in the Caribbean, scored 351-5 off their allotted 50 overs even without prolific run-getters Kumar Sangakkara and Mahela […]
Sri Lanka urged by columnist not to win World Cup
February 12, 2011 (AFP) – While the media of every country usually backs its team, a Sri Lankan newspaper columnist has urged the national squad not to win the World Cup — for the greater good of the nation. “Call me a traitor, a quisling… anything. I don’t want Sri Lanka to be the champions […]
‘s Murali hopes to end on World Cup high
February 12, 2011 (AFP) – Record-breaking Sri Lankan bowler Muttiah Muralitharan goes into his fourth and final World Cup praying that he ends his glorious international career on a high. “In the end, it boils down to the team that takes it one match at a time.” “My role for this World Cup is to […]
Ship Repair
Feb 12, 2011 (LBO) – Sri Lankan listed ship yard Colombo Dockyard is currently doing repair work on several small tankers and a research vessel that will earn revenues of around four million US dollars, a statement said. The yard, a unit of Japan’s Onomichi Dockyard Company, expects revenue of 1.2 million dollars from major […]
Mobile Mark
Feb 11, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group made a net profit of 1. 3 billion rupees in the December 2010 quarter compared with a loss of 2.2 billion the year before, a stock exchange filing said. Sales in the quarter rose 10.7 percent to 10.8 billion rupees. The firm’s […]
New Investment
Feb 11, 2011 (LBO) – Sri Lanka’s Dialog Axiata, the islands largest mobile operator said it will invest 150 million US dollars in expansion bringing the total foreign direct investments by the firm to 1. 2 billion US dollars. Dialog Axiata chief Hans Wijayasuriya said the new investments in part will to go strengthen its […]
Lucky Seaman
February 11, 2011 (AFP) – Sri Lanka’s navy Friday detained a foreign cargo ship and its Russian crew for allegedly failing to rescue a man who fell overboard, an official said. Navy spokesman Kosala Warnasuriya said the DD Vigor, registered in St Vincent and the Grenadines, was impounded while leaving the island after failing to […]
Oilfield Vessel
Feb 10, 2011 (LBO) – Greatship India is considering giving orders for bigger and more sophisticated vessels to Sri Lankan ship builder Colombo Dockyard, its managing director Ravi Sheth said after taking delivery of a 26 million US dollar craft. Sheth said Greatship has so far placed orders for 11 vessels with Colombo Dockyard, the […]
Port Project
Feb 10, 2011 (LBO) – Infrastructure work on a new container port next to Sri Lanka’s existing Colombo harbour that will expand capacity has neared the halfway mark and is on schedule, officials said. Deputy ports minister Rohitha Abeygunawardene said the construction of the breakwater and dredging of the harbour basin will be completed by […]
Muralitharan signs for Gloucester T20 bid
LONDON, February 9, 2011 (AFP) – Sri Lankan cricket legend Muttiah Muralitharan will play for Gloucestershire’s Twenty20 side after agreeing a two-year deal with the English county, it was announced Wednesday. “Whenever I have watched and observed Murali he has always had and shown an infectious love for the game of cricket. This is something […]