Category: Industry
Sri Lanka hires Chime group for Games bid
Nov 30, 2010 (LBO) – Sri Lanka has hired public relations firm Bell Pottinger and other units of Chime Communications marketing group as advisors in its bid to host the 2018 Commonwealth Games, a statement said. PwC firms provide industry-focused assurance, tax and advisory services. The team is led by pmplegacy, a global sporting events […]
Sri Lanka trade needs more govt co-ordination: official
Nov 30, 2010 (LBO) – Sri Lanka’s government agencies involved in exports and imports need to co-ordinate better to minimise delays and smoothen trade, said Sarath Jayatilake, former Director General of Sri Lanka Customs. Export consignments already checked by one agency are sometimes inspected again by a different agency, he told a stakeholders meeting on […]
‘s president seeks barter trade with Sri Lanka
November 29, 2010 (AFP) – Pakistani President Asif Ali Zardari called for a barter agreement with Sri Lanka on Monday to boost trade between the two countries. Zardari, on a visit to the island, told legislators that they should switch to exchanging their goods and services rather than depend on dollar-denominated import-export trade that drew […]
Tele Trends
Nov 29, 2010 (LBO) – Sri Lanka’s mobile subscribers grew 24.3 percent in the third quarter of 2010 from a year earlier, while fixed access sector grew at a much slower 3. 4 percent, official data show. During the past 12 months 3.2 million mobile users have been added according to data released by the […]
Tele Offer
Nov 29, 2010 (LBO) – Lanka Bell, a Sri Lankan wireless fixed access operator using CDMA (code division multiple access) technology controlled by listed Distilleries Company of Sri Lanka has been offered for sale. Suntel, a unit of Sweden’s Telia, Sri Lanka’s other fixed-access-only operator has also had talks with possible buyers. The telco was […]
Steady State
Nov 29, 2010 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) ‘A (lka)’ long term rating has been confirmed with a ‘stable’ outlook, Fitch Ratings Lanka said. Fitch has also confirmed an ‘A(lka)’ on a 500 million senior debenture and an ‘A-(lka)’ rating on a billion rupees subordinated debenture. The banks loans books contain a […]
Influence Tussle
Nov 29, 2010 (LBO) – Indian investors will be encouraged to invest in southern Sri Lanka where China has built a new port, according to remarks by India’s foreign minister, as both countries vie for influence on the island. Visiting Indian Minister of External Affairs S M Krishna said India’s decision to set up a […]
Sri Lankan spinners impress in drawn Windies Test
November 27, 2010 (AFP) – Sri Lanka’s spinners, led by Rangana Herath, put in an impressive performance as the second Test against the West Indies ended in a draw on the fifth and final day on Saturday. Left-armer Herath removed Dwayne Bravo, Sulieman Benn and Carlton Baugh as the West Indies were bowled out for […]
Sri Lanka hit by cascading power outage
Nov 28, 2010 (LBO) – Sri Lanka was hit by cascading outage Sunday afternoon after a key transmission line tripped out of the national grid, but officials at the state-run power utility said electricity was restored before nightfall. Power failed in most part of the island after a transmission lines from the Kotmale and Victoria […]
Be Nice
Nov 28, 2010 (LBO) – Sri Lanka’s central bank will support friendly mergers of banks, which can be difficult due to existing regulations, a media report said. Banks – especially those catering to different classes of risk – are needed to finance small and medium businesses. “We have had some feelers and have discussed it […]
Sri Lanka, India pre-war air, sea links to resume
Nov 27, 2010 (LBO) – Pre-war air and ferry links between south India and northern Sri Lanka should resume to improve contacts between people and strengthen the local economies, Indian foreign minister S M Krishna said. With the end of the 30-year ethnic war in May 2009, both governments want to resume the old ties […]
Rain washes out play in Sri Lanka-Windies Test
November 26, 2010 (AFP) – No play was possible due to rain on the penultimate day of the second Test between Sri Lanka and the West Indies in Colombo on Friday. The West Indies were 165-5 in their first innings in reply to Sri Lanka’s 387-9 declared on Thursday, with Carlton Baugh unbeaten on four […]