Category: Industry
Rate Ceiling
Sept 23, 1010 (LBO) – Sri Lanka’s central bank has asked banks to cut interest rates on housing loans to 14.0 percent and interest on credit cards to 24 percent by end-October following steep policy rates cuts and lower economic risks. The monetary authority, which is also the bank regulator, said rates on other loans […]
Knowledge Source
Sept 22, 2010 (LBO) – India’s CRISIL, a unit of the rating agency Standard & Poor’s said it is buying Pipal Research Corporation, a knowledge process outsourcing firm for 12.75 million US dollars. The purchase will be done through , Irevna, CRISIL’s own KPO division. “The Irevna-Pipal combination will be uniquely positioned in the high-end […]
‘s dismal Wayamba
CENTURION, September 20, 2010 (AFP) – The Victoria Bushrangers outclassed a dismal Wayamba Elevens team at SuperSport Park on Monday night to keep alive their hopes of reaching the semi-finals of the Champions League Twenty20 tournament. But Mubarak fell to a superb catch at cover by Hussey and the Sri Lankan side collapsed ignominiously against […]
Remittance Deal
Sep 21, 2010 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) has inked inked a deal with a financial partner in Jordan as part of a bid to expand its remittance business tenfold over two years, officials said. NSB announced a deal with JRM Alami and Partners Exchange Company in Jordan Monday to help […]
Container Cash
Sept 21, 2010 (LBO) – Sri Lanka’s Aitken Spence has to raise 4. 5 billion rupees for its stake in a new port terminal, which if funded by debt might invite a downgrade of its ‘AA(lka)’ rating, Fitch Ratings said. Fitch Ratings Lanka is reviewing Aitken Spence’s (ASP) senior unsecured notes’ ‘AA(lka)’ National Long-term rating […]
Sri Lanka airport transit facilities boosted: state airline
Sept 20, 2010 (LBO) – Facilities for transit passengers in Sri Lanka’s international airport at Katunayake has been boosted with a 24-room hotel, which is under the management of state-run SriLankan airlines, the national carrier said. The airport has eight rooms with double beds, and eight rooms with a single deb and an attached bathroom. […]
‘s Super Kings face survival battle
PORT ELIZABETH, September 18, 2010 (AFP) – After an unsuccessful gamble by captain Mahendra Singh Dhoni, the Chennai Super Kings will have to wait until Wednesday to know whether they will qualify for the semi-finals of the Champions League Twenty20 tournament. Chennai were beaten in a Super Over by Australia’s Victoria Bushrangers at St George’s […]
Sri Lanka to revamp aviation law
Sept 17, 2010 (LBO) – Sri Lanka will revamp its outdated civil aviation law to cope with advances made over several decades and a new law will be brought to parliament quickly, information minister Keheliya Rambukwelle said. Analysts say Sri Lanka could also earn revenues by expanding air traffic and navigation services to the Indian […]
Soft Bounce
Sept 17, 2010 (LBO) – Sweden-based IFS, an enterprise resource planning (ERP) software maker, said its main development centre in Sri Lanka is growing steadily and demand for its products from the Asia-Pacific region is strong. Its Sri Lanka unit has around 780 staff made up of software developers and business analysts. Jayantha de Silva, […]
Sailing Opportunity
Sept 17, 2010 (LBO) – Sri Lankan seafarers will get an opportunity to serve on board Iranian vessels following an agreement signed between the two countries during the visit to the island of Iran’s trade minister, officials said. Iranian Trade Minister Mehedi Gassanfari was in Sri Lanka to attend the Joint Trade and Economic Cooperation […]
Lower Loss
Sept 16, 2010 (LBO) – Sri Lanka’s The Finance Company (TFC) reduced losses to 431 million rupees in the June 2010 quarter compared with a loss of 693 million rupees the year before, a stock exchange filing said. Interest income fell 42 percent to 660 million rupees while interest expenses fell 45 percent to 814 […]
Port Project
Sept 16, 2010 (LBO) – Sri Lanka has awarded a contract to build and operate a new deep-water container terminal in Colombo port to a consortium consisting of China Merchant Holdings International and Aitken Spence, a statement said. The new terminal will have a quay wall length of 1. 2 kilometres with a minimum alongside […]