Category: Industry
Budget Branches
Apr 29, 2010 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) is to use a ‘feeder branch’ network to expand in the former north-east war zone to bring down operating costs, and wants donor agencies to subsidize credit risks, a senior official said. However Rajakaruna warned banks operating in relatively unfamiliar territory are open to […]
Switching Calls
Apr 27, 2010 (LBO) – Sri Lanka’s Telecommunications Regulatory Commission (TRC) has called for consultancy services to suggest ways to introduce mobile phone number portability that will allow subscribers to switch networks while using the same number. The assignment will require a “detailed consultation process”, taking in the views of stake holders when formulating the […]
Box Business
Apr 27, 2010 (LBO) – Colombo port container volumes rose 27 percent in the first quarter of 2010 from last year and also exceeded throughput in the same 2008 period before recession hit global trade, the Sri Lanka Ports Authority said. “I firmly believe that our service is the major order qualifying and the order […]
Sri Lanka apparel exporter cuts chemical use, costs
Apr 26, 2010 (LBO) – Brandix, one of Sri Lanka’s top apparel exporters, said it aims to cut chemical use by about a quarter and reduce costs through a deal with a German supplier that will also reduce pollution. Brandix Group said in a statement the deal to trial the ‘Chemical Leasing’ (ChL) concept methodology […]
Sri Lankan airlines says delayed passengers given seats
April 26, 2010 (LBO) – Sri Lankan Airlines said it had given seats to all passengers to Europe who were held up after the continent closed its airspace by using extra flights and will resume its normal schedule this week. The last extra flight would leave Colombo on Wednesday April 28. SriLankan flies 19 times […]
Tele Group
Apr 26, 2010 (LBO) – Sri Lanka Telecom group profits fell 36 percent to 604 million rupees in the March quarter from a year earlier, but had returned to profits from a loss in the December quarter, interim accounts showed. Group revenue grew 3.0 percent to 12.2 billion rupees, while revenues of the standalone company […]
Competition
Apr 26, 2010 (LBO) – Hutchison Telecom International’s Sri Lanka unit lost mobile phone subscribers in 2009 amid intense competition in the market, according to the group’s annual report released to the Hong Kong stock exchange. The number of mobile phone subscribers of Hutchison Telecom Lanka shrank by 12 percent to 779,000 although it continued […]
Sri Lanka desperate to add Twenty20 to collection
April 25, 2010 (AFP) – Sri Lanka, world champions in the 50-over format in 1996, are desperate to add the Twenty20 title to their collection in the Caribbean after a series of near-misses. Captain Kumar Sangakkara’s men lost the World T20 championship by eight wickets to Pakistan at Lords last year. Two years earlier, the […]
Sri Lanka sling bowler Malinga ready to fly high
April 25, 2010 (AFP) – The untamed bleached blond locks have been dyed black as Sri Lanka’s sling sensation Lasith Malinga tempers his looks and polishes his armoury for the World Twenty20 in the Caribbean. Short and squat, his unorthodox action, with a low point of release against the backdrop of the umpire’s chest or […]
Sri Lanka Lighthouse Hotel March net up 100-pct
Apr 23, 2010 (LBO) – Lighthouse Hotel, a unit of Sri Lanka’s Jetwing leisure group said profits rose 102 percent in the March quarter to 32.2 million rupees amid a pick up in tourism, interim accounts showed. Revenues rose 34 percent to 110. 3 million rupees in the quarter. Sri Lanka’s peak tourism season is […]
Sri Lanka to face New Zealand in United States
WELLINGTON, April 23, 2010 (AFP) – New Zealand will play a three-match Twenty20 series against Sri Lanka in the United States next month, officials said Friday. The matches in Florida will launch a new strategic partnership between cricket authorities in New Zealand and the United States, New Zealand Cricket chief executive Justin Vaughan said. “This […]
Sri Lanka exporters face higher air freight costs
Apr 23, 2010 (LBO) – Sri Lankan exporters face higher transport costs with the flight disruptions caused by volcanic ash over Europe sending air freight rates shooting up and causing a space crunch, officials said. Tony de Livera, chairman of the Sri Lanka Freight Forwarders Association, said the flight disruptions have disrupted local businesses relying […]