Category: Industry
Guarantee Rate
June 28, 2010 (LBO) – Sri Lanka’s RAM Ratings has given a ‘BBB+’ long term financial enhancement rating to Construction Guarantee Fund (CGF) saying it has state backing though vulnerable to the volatility of the industry and has no re-insurance as yet. Guarantees are given without any collateral, by evaluating the contractors’ capabilities against the […]
Port City
June 28, 2010 (LBO) – Sri Lanka’s capital Colombo is to be expanded out to sea on reclaimed land with material dredged to build a new port, providing opportunities for businesses and citizens alike, an official said. The Sri Lanka Ports Authority is in charge of the project to create a new ‘port city’, its […]
Shipping Link
June 28, 2010 (LBO) – The permanent secretariat of the Asian Shippers’ Council (ASC), the world’s largest shippers’ body, has been located at the Ceylon Chamber of Commerce in Sri Lanka, a statement said. ASC consists of 20 shippers’ councils from 16 countries in the five regions covering Asia and Oceania. Its permanent secretariat was […]
Vettori, McCullum to miss Sri Lanka, India ODIs
WELLINGTON, June 27, 2010 (AFP) – New Zealand has left its two most senior cricketers, Daniel Vettori and Brendon McCullum, out of the squad named Sunday for next month’s limited over series against Sri Lanka and India in Sri Lanka. Vettori has been allowed to stay home as the tour coincides with the birth of […]
Sri Lanka halts foreign league matches for players
June 27, 2010 (AFP) – Sri Lanka Cricket on Sunday barred its players from participating in overseas domestic leagues until the World Cup next year. The team is also due to tour Australia for a one-day series before West India travel to Sri Lanka in November in the build-up to the World Cup. Sri Lanka, […]
Rare Happening
BEIRUT, June 25, 2010 (AFP) – A Lebanese woman was sentenced to one month in jail for mistreating her Sri Lankan housemaid, court papers showed on Friday, a rare happening in a country where rights groups regularly denounce the ill-treatment of foreign domestic helpers. Rights associations defending immigrant workers decry that these labourers are not […]
Transport Blues
June 26, 2010 (LBO) – Sri Lanka’s private bus sector can push up revenues by about 20 percent by cutting leakages with an online ticket machine, but the subsidy-happy operators want taxpayer support help them earn bigger profits. “On average about daily ticket collection are lost due to leakages in the system,” Amal S Kumarage, […]
SriLankan Airlines losses lower in March quarter
June 26, 2010 (LBO) – SriLankan Airlines has cut losses in the year to March 2010, and was looking to turnaround in the second half of this year, but may need financial re-structuring in the future, an official said. The airline is now saddled with Mihin Lanka, a loss making start-up budget carrier. A report […]
Nehra inspires India to Asia Cup title
DAMBULLA, June 24, 2010 (AFP) – India’s pace battery led by Ashish Nehra demolished Sri Lanka to help their team win the Asia Cup with a comfortable 81-run win on Thursday. Dinesh Karthik top-scored with 66 as India made 268-6 after electing to bat in the day-night final, before the defending champions and hosts were […]
SriLankan Airlines looks for two narrow body aircraft
June 25 – Sri Lankan Airlines is looking for two Airbus A320 aircraft to join is fleet by late 2010 as it plans to expand the winter schedule amid a pick up in tourism traffic, chief executive Manoj Gunawardena said. Sri Lankan said it will also increase flights to India by one to 50 frequencies […]
‘s Arugam Bay surfing paradise hosts ASP World Tour
June 25, 2010 Arugam Bay, SRI LANKA (LBO) – Top professional surfers from around the world were at Sri Lanka’s Arugam Bay, a small village in the eastern coast of the island which was limited to an adventurous few until now. “But probably not as good as in Indonesia.” He says right breaking waves breaking […]
Sri Lanka rejects EU conditions to extend GSP Plus trade deal
June 24, 2010 (LBO) – The Sri Lankan government has rejected conditions imposed by the European Union to extend the GSP Plus trade deal giving exporters duty free access to EU markets, a spokesman said. He said the government wants the GSP Plus to be extended unconditionally. If not the government is ready to look […]