Category: Industry
Ad Brawl
May 04, 2010 (LBO) – Sri Lankan advertising agency Triad said it has sued the organizers of an ad awards scheme for 100 million rupees alleging the contest was a ‘scam’ subject to manipulation. Other defendants include members of the Chillies 2010 organizing committee headed by Rohan Rajaratnam. The Chillies was created by the advertising […]
Software Source
May 03, 2010 (LBO) – Sri Lankan information technology companies are trying to attract business process outsourcing (BPO) work from European small businesses, an industry group said in a statement. “Sri Lanka is a unique and competitive destination for specialized and SME (small and medium enterprise) sourcing,” said Reshan Dewapura of the island’s state-run Information […]
Sri Lanka John Keells hotel in upgrade investment deal
May 03, 2010 (LBO) – Habarana Lodge has signed a deal with the Board of Investment to invest 2. 5 million US dollars to re-furbish and upgrade its hotel in north-central Sri Lanka, the investment promotion agency said. The 140-room Cinnamon Lodge Hotel at Habarana, part of the John Keells group hotel chain, will be […]
‘s injured Muralitharan out of World T20
May 3, 2010 (AFP) – Sri Lanka suffered a major blow to their World Twenty20 campaign when veteran off-spinner Muttiah Muralitharan was sidelined with a groin injury, officials said on Monday. Muralitharan, 38, who is also the team’s vice captain, was injured during Friday’s opening match against New Zealand in Guyana, which Sri Lanka lost […]
Sri Lanka in ADB trade finance deal
May 03, 2010 (LBO) – Sri Lanka is one of the countries included in a trade finance deal between the Asian Development Bank and Germany’s Commerzbank to share risks to support increased trade in developing Asia. According to an ADB statement, the Risk Participation Agreement signed on the sidelines of the bank’s 43rd annual meeting […]
Sri Lanka police arrest counterfeiters, says clothing brand
May 03, 2010 (LBO) – Sri Lankan police have arrested several people for intellectual property rights violation after a raid on a factory making fake designs of the Odel fashion brand, the company said in a statement. Odel runs a popular upmarket department store in Sri Lanka’s capital Colombo and has begun setting up branches. […]
Sri Lanka insurer says Northern volumes up
May 02, 2010 (LBO) – HNB Assurance, a fast growing insurer says volume expansion in Sri Lanka’s north is ‘exceptional’ as the region recovers from a 30-year war and links are restored with the rest of the island. The company now has 540 staff up from 25 in 2001. HNB Assurance says it was able […]
Finance Houses
May 01, 2010, JAFFNA, Sri Lanka (LBO) – Sri Lanka’s finance companies are expanding with confidence returning to the sector following a panic 2009, though regulators are working on a handful of troubled firms, Central Bank Governor Nivard Cabraal said. Sri Lanka’s Bartleets Financial Services and Central Investments and Finance Limited (CIFL) opened branches in […]
Port Proceeds
Apr 30, 2010 (LBO) – Revenues of Sri Lanka Ports Authority (SLPA), which runs the island’s ports, fell last year with fewer ship calls and lower cargo volumes, while the number of employees also declined, latest data shows. SLPA operating expenditure in 2009 fell four percent to 21,301 million rupees from 22,201 million rupees in […]
Sri Lanka to get Courtaulds clothing plant
Apr 29, 2010 (LBO) – Courtaulds Clothing has signed an agreement with Sri Lanka’s Board of Investment to set up a plant to manufacture knitted fabric for the export market, the investment promotion agency said. Another investment is by Regnis Appliances worth 1.1 million dollars to manufacture and assemble home appliances. An investment agreement for […]
Emirates starts Amsterdam Sri Lanka run
Apr 29, 2010 (LBO) – Emirates airlines said it was starting flights to the Dutch capital of Amsterdam from Colombo first and business class passenger being given complementary stays in Dubai. From Colombo, Emirates operates 21 services a week to Dubai. “Sri Lanka and the Netherlands are linked by centuries of history and trade, said […]
Accolade
Apr 29, 2010 (LBO) – Shree FM, a radio station run by Sri Lanka’s the E A P Edirisinghe group, has won a top US broadcasting award for a community service program which helped people in remote areas, the broadcaster said. NAB is the highest award presented to non-US radio and television stations to recognize […]