Category: Industry
Grievances
July 27, 2010 (LBO) – Sri Lanka has not paid some owners of land acquired by the state for infrastructure for 25-years, and a total of 8. 5 billion rupees remains unpaid for property taken to expand roads, an official said. Vokes said the guide was developed with the help of Sri Lanka’s Road Development […]
Gas Concern
July 26, 2010 (LBO) – A large industrial user of liquefied petroleum gas as expressed concern over a proposed state take-over of a private gas distributor in Sri Lanka as energy sector management under state has created serious problems in the past. Lanka Tiles, a manufacturer and exporter of ceramic tiles says, it is braced […]
Mobile Performance
July 26, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1. 37 billion rupees in the June 2010 quarter compared with a loss of 7.24 billion rupees a year ago, a stock exchange filing said. Sales rose 14.3 percent to 10.16 billion rupees over the period while administration […]
Money Back
July 26, 2010 (LBO) – Depositors in a failed Sri Lankan finance company have been paid back part of their money in the first phase of a repayment scheme with assets of the firm to be sold to raise more funds, the regulator said. “The committee will decide on the next installment of payment to […]
Transport Costs
July 26, 2010 (LBO) – Shipping lines calling at Colombo port may have to raise freight rates to cover losses in recent years and return to profitability, Sri Lankan ship agents representing liners have said. Nimal Ranchigoda, chairman of the Ceylon Association of Ships’ Agents, said the shipping industry was in “dire straits” last year […]
Dancing in the street as Pakistan beat Australia
ISLAMABAD, July 24, 2010 (AFP) – Cricket fans took to the streets in Pakistan on Saturday to celebrate their side’s first Test victory over Australia in 15 years, after a tense fourth-day finish at Headingley. The heads of all the major political parties and chief ministers of all four provinces also congratulated the team. “It […]
Depleted Sri Lanka eye series win over India
July 25, 2010 (AFP) – Sri Lanka hope to overcome a weakened bowling attack and secure a series-clinching win in the second Test against India from Monday, their first match in the post-Muttiah Muralitharan era. The world bowling record holder bid farewell to Test cricket last week by leading the hosts to an emphatic win […]
Change Agents
ASPEN, July 25, 2010 (AFP) – Top technology and media executives wrapped up a three-day conference here during which they grappled with — and left unresolved — the question of whether readers will pay for news online. Firmly in the paid camp in the “paid vs. free” debate was News Corp.’s head of digital operations […]
Northern Branch
July 25, 2010 (LBO) – State-run Indian Bank headquartered in Chennai, India is planning to open a branch in Sri Lanka’s former war torn Northern Jaffna peninsular and also in the central hills of the island, a media report said. The bank has another overseas branch in Singapore and is also looking at opening one […]
‘s Malinga out of second India Test
July 24, 2010 (AFP) – Sri Lanka suffered a major blow on Saturday when a knee injury ruled sling-arm fast bowler Lasith Malinga out of the second Test against India. His absence means the hosts will be deprived of both architects of their 10-wicket win in the first Test at Galle — Malinga and the […]
Islamic Finance
July 24, 2010 (LBO) – A start-up Sri Lankan bank that has just raised 3.2 billion rupees in capital through a private placement wants to lure Middle Eastern funds and lend for infrastructure projects, an official said. Amana Bank is part of Sri Lanka’s Amana Islamic finance group that already has insurance and merchant banking […]
Sri Lanka told time running out for new trade deal with India
July 23, 2010 (LBO) – Sri Lanka could lose more opportunities to access India’s huge market owing to delays in striking a new economic partnership deal with her neighbour, the Indian envoy in Colombo has warned. An existing free trade deal between the two countries has led to a sharp increase in trade that could […]