Category: Industry
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 […]
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 […]
Gas Wrap
Oct 12, 2010 (LBO) – Sri Lanka’s government is expecting to wrap up the purchase of Shell’s gas unit in the island within a month, Sirisena Amarasekera, who heads the state committee in charge of the deal said. Sri Lanka’s information minister Keheliya Rambukwella has said the government was planning to sell down a 49 […]
Kandy man Manju boxes for sweet success
NEW DELHI, October 12, 2010 (AFP) – Manju Wanniarachchi could win Sri Lanka’s first Commonwealth Games boxing gold medal in 72 years on Wednesday in the highlight of a final day of bouts in which British fighters dominate. But the 24-year-old — dubbed “the David Beckham of India” — was one of four home boxers […]
Sri Lanka tourism industry should focus on niche: officials
Oct 12, 2010 (LBO) – Sri Lanka’s tourism future lies in focusing on niche products and not in the mass market, given its small size and excess capacity in competing destinations, industry officials said. The country’s target of attracting 2. 5 million visitors and adding 25,000 rooms by 2016 might not be achievable nor desirable, […]
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 […]
‘s IPL
BANGALORE, October 10, 2010 (AFP) – Rajasthan Royals and Kings XI Punjab have been thrown out of the Indian Premier League over ownership issues, tournament organisers said on Sunday. The governing council of the cash-rich Twenty20 event, owned by the Board of Control for Cricket in India (BCCI), also issued notices to the new Kochi […]
Tertiary Plans
Oct 11, 2010 (LBO) – Sri Lanka is offering free land and tax breaks for top ranked foreign universities to start branches in the island with the end of a state monopoly in awarding degrees, the island’s higher education minister said. “We are planning to bring higher education institutions ranked among the top 1,000 in […]