Category: Industry
Hold Outs
June 22, 2010 (LBO) – A steep tax cut on vehicle imports in Sri Lanka has injected life into the almost comatose car trade, but some dealers are stubbornly holding onto high prices hoping that the lower tax regime will not last too long. They are appealing to the fear and greed of buyers. While […]
India oust Pakistan in Asia Cup thriller
DAMBULLA, June 19, 2010 (AFP) – Harbhajan Singh smashed the penultimate ball from Mohammad Aamer for a six as India knocked Pakistan out of the Asia Cup with a three-wicket win on Saturday. Raina and Harbhajan then stepped in to lead a brilliant recovery and crush a valiant Pakistan side’s hopes of staying alive in […]
State Banking
June 20, 2010 (LBO) – Lankaputhra Development Bank, a state bank set up to fulfill an election promise, has increased its bad loans to 55. 9 percent in 2009, from 19.2 percent a year earlier, a government report has revealed. Lankaputhra or ‘sons of the Lanka’ bank was set up to fill a supposed lack […]
Dilshan shines as Sri Lanka crush Bangladesh
DAMBULLA, June 18, 2010 (AFP) – Tillakaratne Dilshan starred with bat and ball as Sri Lanka trounced Bangladesh by 126 runs on Friday to virtually book their place in the Asia Cup final. Dilshan smashed 71 off 51 balls and claimed three wickets as the defending champions piled up a commanding 312-4 in their 50 […]
Sri Lanka forum promotes joint South Asian stand at trade talks
June 19, 2010 (LBO) – South Asian countries like Sri Lanka have a common interest in forging a common regional stand in world trade talks, trade experts and economists told a meeting in Colombo. “If formalities are made to delay imports it becomes a trade barrier,” Sen said. He said South Asian countries should get […]
Sri Lanka to ink trade deal with India after addressing concerns: minister
June 18, 2010 (LBO) – Sri Lanka wants to extend economic links with India by signing a new trade agreement once concerns are addressed, 10 years after the first free trade deal was inked with the neighbour, a government minister said. The agreement is also expected come with mutual recognition of standards to prevent health […]
Gas Bid
June 17, 2010 (LBO) – The Sri Lankan government wants to buy back the stake in the Shell Gas unit in the island that had been sold to the multinational in a privatization exercise several years ago, a spokesman said. The state-run Bank of Ceylon has been made an advisor to a committee that will […]
‘s Sehwag crushes Bangladesh with ball
DAMBULLA, June 16, 2010 (AFP) – Batting star Virender Sehwag turned an unlikely bowling hero as India whipped Bangladesh by six wickets in the Asia Cup on Wednesday. Sehwag grabbed four wickets for six runs with his off-spin as Bangladesh were shot out for 167 in 34. 5 overs after losing their last six batsmen […]
Sri Lanka power generation up 9.2-pct in first quarter
June 17, 2010 (LBO) – Sri Lanka’s power generation in the first quarter of 2010 has increased 9. 2 percent from a year earlier, with a larger proportion coming from cheaper hydro power amid exceptionally wet weather, official data showed. Private sector operators generated 1,105GWh, down 7.1 percent. Short term or emergency producers operating mainly […]
Freeing Education
June 17, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has backed a plan to liberalize university education and set up a mechanism to monitor and evaluate the quality of foreign and local higher education, an official said. A proposal for a ‘National policy framework on higher education and technical and vocational education’ to revamp […]
Sri Lanka Serendib Hotels sells stake in Hotel Sigiriya
June 17, 2010 (LBO) – Serendib Hotels has sold part of its stake in Hotel Sigiriya, both part of Sri Lanka’s Hemas group, in a deal worth 40. 6 million rupees, a stock exchange filing said. Serendib Hotels, whose property is on a prime beach front on the south-west coast and is a major shareholder […]
Unheard Killer
June 16, 2010 (AFP) – At least 15 people using their mobile telephones while walking on railway tracks have been killed by trains in Sri Lanka this year, a railways official said Wednesday. There are about 14 million mobile phone users in Sri Lanka, which has a population of 20 million people. Accidents have increased […]