Category: Industry
Software Piracy
Oct 15, 2010 (LBO) – Sri Lanka still has work to do to better protect intellectual property rights whose violations are of concern to the United States, a visiting US government official said. Michael Delaney, assistant US trade representative for central and south Asia, said IP rights protection and software piracy were some of the […]
Sea Links
Oct 15, 2010 (LBO) – India and Sri Lanka have agreed on and initialled a draft agreement to resume ferry services between the two neighbours that was disrupted by the island’s ethnic war, a statement said. “The two sides agreed on the text of the Memorandum of Understanding for passenger transportation by sea between the […]
Tele Towers
Oct 14, 2010 (LBO) – A US based telecom tower company is looking for opportunities to build shared infrastructure in Sri Lanka as telcos in the island expand into former war torn areas in the north and east, an official said. “We are having discussions and looking at opportunities,” Vijendran Watson, from the Singapore-based Insight […]
Health Sourcing
Oct 14, 2010 (LBO) – Cambio Heathcare Systems, a Sweden based health sector firm has moved its outsourcing unit to larger premises in Sri Lanka’s capital Colombo, the country’s investment promotion agency said. The firm had started operations in Colombo in 2005 with 40 employees. By the beginning of this year its cadre of engineers […]
Finance Losses
Oct 14, 2010 (LBO) – Sri Lanka’s The Finance Company, which is converting some deposits into shares, has managed to reduce losses compared to last year but interest costs are still higher than income, a stock exchange filing showed. The firm, part of the troubled Ceylinco group although now under separate management, made a loss […]
Financial Access
Oct 14, 2010 (LBO) – Sri Lanka’s poor are reliable borrowers and repay loans, offering a growth opportunity for micro-finance especially in rural areas, deputy finance minister Sarath Amunugama said. Developing countries like Sri Lanka must not rely solely on export-led growth as in the past given sluggish recovery and rising protectionism in advanced economies, […]
Port Prospects
Oct 14, 2010 (LBO) – The increase in cargo flows from India generated by accelerating economic growth will ensure business for a new container terminal that Sri Lanka’s Aitken Spence is investing in, an official said. “India’s economic growth in 2018 is expected to surpass China’s,” Dissanayake said. “When the economy grows they will handle […]
Sri Lanka president guest of honour at Games close
NEW DELHI, October 12, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse will be the guest of honour at Thursday’s closing ceremony of the Delhi Commonwealth Games, where participants include nations deeply critical of his rights record. “I can confirm that the Sri Lankan president will be the guest of honour. He will also be […]
Sri Lanka gets first boxing gold in 72 years
NEW DELHI, October 13, 2010 (AFP) – Manju Wanniarachchi on Wednesday won Sri Lanka’s first gold medal in boxing in 72 years after beating Wales’ Sean McGoldrick in the bantamweight division. The 30-year-old from Kandy won a points decision 16-14 to beat the 18-year-old, who caused an upset in the semi-finals by beating the Olympic […]
US in small business road show in Sri Lanka
Oct 13, 2010 (LBO) – The United States is organizing a series of forums Sri Lanka country giving an opportunity especially to smaller businesses outside the capital to find out how to increase trade with the US. The ‘Doing Business’ seminar with assistant trade representative Micheal Delaney will off in Colombo on October 15. Similar […]
Sri Lanka losing ground in US apparel market: Martin Trust
Oct 13, 2010 (LBO) – Sri Lanka is losing ground to China and Bangladesh in the United States apparel market, but the country can retain its place in the top end by banking on non-price competitive strengths, the island’s top US apparel buyer said. “Sri Lanka has not recovered from China’s surge in the US […]
Tighter Margins
Oct 12, 2010 (LBO) – The efficiency in Sri Lanka’s banking system can be improved with interest margin tightening at least 150 basis points over the next nine months to 5. 0 percent with banks remaining profitable, Central Bank Governor Nivard Cabraal said. Profits are needed to build capital to buffer deposits. “About a year […]