Category: Industry
Stock Carrots
Jan 28, 2011 (LBO) – Sri Lanka’s Sampath Bank said it intended to give stock options of up to three million shares to employees as a performance incentive if the bank reaches as yet undisclosed performance for 2011. The shares issued under the option plan would be 2.0 percent of the existing shares and will […]
New Cranes
Jan 28, 2011 (LBO) – Sri Lanka’s state run container terminal in Colombo port will get three gantry cranes and six transfer cranes from China in February which will be up and running by March, an official said. Sri Lanka Ports Authority chairman Priyath Bandu Wickrema said a team from the port is now in […]
Finance Rating
Jan 27, 2011 (LBO) – Sri Lanka’s Arpico Finance Company’s long-term rating has been confirmed at BB and its outlook lifted ‘positive’ from ‘stable’ on better asset quality and adequate capital, RAM Ratings said. Arpico Finance’s short-term rating has been confirmed at NP, RAM Ratings said. Outlook on the long-term rating has been revised to […]
Sri Lanka shifts venues for Windies ODIs
January 26, 2011 (AFP) – Sri Lanka has switched venues for next week’s one-day series against the West Indies to Colombo, an official said Wednesday, as both teams prepare for next month’s World Cup. The games will be played during the day at the Sinhalese Sports Club ground in Colombo, Sri Lanka Cricket media manager […]
Standard Measures
Jan 26, 2011 (LBO) – The Sri Lanka chapter of US based Chartered Financial Analysts (CFA) is promoting the adoption of Global Investment Performance Standards (GIPS) which is useful to attract foreign capital, an official said. The standards are checked by a ‘verifier’ usually an auditor. Rajiv Casie Chitty, the GIPS chair at CFA Sri […]
Sri Lanka cuts taxes on milk powder
Jan 25, 2011 (LBO) – Sri Lanka has cut taxes on imported milk powder from 50 rupees a kilogram to 28 rupees as global commodity prices surged, a finance ministry official said soon after taxes on petrol were cut to maintain prices. Food commodities, base metals, minerals and precious metals have started to bubble again. […]
Store Club
Jan 25, 2011 (LBO) – Sri Lanka’s Odel a high end retailer said it had joined a global department store association founded in Switzerland which whose members have combined sales of 60 billion US dollars. Intercontinental Group of Department Stores (IGDS) has 33 members in 31 countries, Selfridges, Saks 5th Avenue, Printemps, Parkson, Beco, FEDS, […]
Sri Lanka tourist office in home stay push
Jan 25, 2011 (LBO) – Sri Lanka Tourist board wants to promote home stays giving the opportunity to a broader section of the community to participate in the sector and get jobs, an official said. Sri Lanka’s tourism promotion office is launching a ‘home stay and bungalows’ program as tourist arrivals rose 46 percent last […]
Sri Lanka second hotel eyed by Shangri-La: report
Jan 24, 2011 (LBO) – Hong Kong based Shangri-La hotels is looking for a coastal property to build a resort hotel, after buying state land in Sri Lanka’s capital Colombo for a hotel, shopping and apartment complex, a media report said. Bloomberg, a newswire quoting Treasury secretary P B Jayasundera said Shangri La was looking […]
Loss Adjustment
Jan 22, 2011 (LBO) – Sri Lanka’s Indian Oil Corporation unit says it is losing 9 rupees a liter on petrol and 21 rupees a liter on diesel by selling fuel at government controlled prices as world commodity prices continued to rise. In 2004 Sri Lanka jettisoned pricing formula and printed money heavily to fix […]
Deep Range
Jan 22, 2011 (LBO) – Sri Lanka’s state marine research agency will buy a survey and research vessel from Taiwan to deepen knowledge and also upgrade a technical college to ‘ocean university’ status, a government minister said. The state National Aquatic and Research Agency (NARA) had been given the nod by the cabinet of minister […]
‘s Murali to quit after World Cup
January 21, 2011 (AFP) – Record-breaking Sri Lankan spinner Muttiah Muralitharan said Friday he would retire from international cricket after the 2011 World Cup. “This World Cup will be my last outing,” Muralitharan, 38, told reporters on the sidelines of a training session in Colombo. “I am retiring totally from international cricket thereafter. ” The […]