Category: Industry
Sri Lanka Wayamba defeated by South Africa Warriors
PORT ELIZABETH, September 11, 2010 (AFP) – A dream start for South African franchises in the Champions League Twenty20 tournament continued on Saturday as Eastern Cape Warriors defeated Wayamba Elevens by seven wickets. South African President Jacob Zuma and Spanish singing megastar Enrique Iglesias were among those who witnessed star-less Highveld Lions shock the Sachin […]
Sports Backing
Sept 10, 2010 (LBO) – Sri Lanka’s schools sports need private sector support, especially for an upcoming meet that will see children from former war-torn areas taking part in a big way, the education minister has said. The education ministry has also started a s scholarship program for talented students who are financially constrained. “There […]
‘s Mumbai in opener
JOHANNESBURG, September 10, 2010 (AFP) – The Champions League Twenty20 tournament got off to a thrilling and surprise start Friday with local outfit Highveld Lions of South Africa defeating star-studded Mumbai Indians by nine runs. Opener Vandiar led the way at one of the most famous world cricket venues with his runs coming off 48 […]
Taxpayer Pressure
Sept 10, 2010 (LBO) – The United States aid agency has suspended a programme to train youth in Sri Lanka’s former northern war zone for jobs in the outsourcing industry, an American lawmaker who opposed the project said. Congressman Tim Bishop said he hailed the suspension of the 10 million US dollar training project by […]
Implied Support
Sept 10, 2010 (LBO) – Fitch Ratings Lanka has confirmed Merchant Credit of Sri Lanka Ltd’s (MCSL) National Long-term rating at ‘BBB(lka)’ with a stable outlook, a statement said. The affirmation reflects the implied support from MCSL’s main shareholder and Sri Lanka’s largest bank – state-owned Bank of Ceylon, rated ‘AA(lka)’/Stable, it said. “Fitch believes […]
Knowledge Forum
Sept 09, 2010 (LBO) – Academics and officials in Sri Lanka’s northern Jaffna peninsular has debated ways to transform the agrarian and fisheries area to a knowledge-based economy with better education, a think has said. He had said that that though Jaffna (North in general) is endowed with limited natural resources (‘moola valam)’ it is […]
Sri Lanka to get weekly tourist flights from Brussels
Sept 09, 2010 (LBO) – Weekly charter flights are to be launched between Brussels and Sri Lanka bringing Belgian and other European tourists from October 31, Jean Deboutte, Ambassador of Belgium to Sri Lanka said. Sri Lanka’s Ambassador to Belgium Ravinatha Aryasinha told the meeting the weekly charter flights will be by Jetair, a leading […]
Rural Credit
Sept 09, 2010 (LBO) – Branches of state banks in Sri Lanka’s war-torn northern and eastern areas topped the lists for giving loans under central bank supported credit schemes for rural agriculture development. Central Banks in high inflation countries including Zimbabwe have engaged in such quasi-fiscal activities starting many agriculture credit schemes. Central Bank ‘re-finance’ […]
Sri Lanka Allianz unit profit down
Sept 08, 2010 (LBO) – Allianz Lanka, the local unit of Allianz SE, said net profit fell 23 percent to 44.8 million rupees in the July 2010 quarter from a year ago and that it was opening more branches. Its accounts showed net claims rose to 90 million rupees in the period from 56 million […]
Air fares up as Asian travel rebounds from recession
SINGAPORE, September 8, 2010 (AFP) – Asia-Pacific airlines are raising ticket prices as travellers return in their droves after holding back on their travel plans last year because of the global recession. A strong economic rebound, led by China, has resulted in carriers filling more seats during the summer holidays and demand should remain robust […]
‘s Spice Jet from Oct
Sept 08, 2010 (LBO) – India’s Spice Jet, the country’s second largest budget carrier, will start flying to Sri Lanka daily from Chennai from October 09, after the airline received official nod to start international services. The airline is selling online a Colombo – Chennai ticket at 5,098 rupees and Chennai – Colombo ticket at […]
Rate Trends
Sept 08, 2010 (LBO) – Sri Lanka’s central bank does not see a need to cut rates next week, following two rates cuts over two months, a media report has suggested. In 2009 private credit shrank as the government ran a deficit of around 10 percent of gross domestic product. The government has promised to […]