Category: Industry
Farming Message
Dec 14, 2009 (LBO) – Mobile phone message services like one deployed by the financial news agency Reuters to over a million farmers in India, could help Sri Lankan farmers earn more for their produce, experts said. Ranjit Pawar of Reuters Market Light, India said their SMS (short message service) in India provide farmers timely […]
Box Moves
Dec 14, 2009 (LBO) – Container volumes at a Colombo port terminal controlled by Sri Lanka’s John Keells Holdings have almost reached last year’s levels but those at the state-run facility are still lagging behind, latest figures show. The November 2009 volumes at South Asia Gateway Terminals (SAGT) were up 10.4 percent to 153,793 TEUs […]
Yuvraj leads India to record win over Sri Lanka
MOHALI, December 12, 2009 (AFP) – Yuvraj Singh took 3-23 and smashed an unbeaten 60 off 25 balls on his 28th birthday as India defeated Sri Lanka by six wickets on Saturday to draw the two-match Twenty20 series 1-1. India, who lost the first match in Nagpur on Wednesday by 29 runs, chased down Sri […]
Rating Trend
Dec 11, 2009 (LBO) – Fitch Ratings Lanka confirmed the long-term rating of BB+(lka) and a stable outlook for Trade Finance and Investments (TFI) Limited, a firm specializing in three wheeler vehicle finance. Provision coverage for NPLs was 21 percent at end of the first half 2010 on account of 75 percent of NPLs falling […]
Sri Lanka in push for solar energy
Dec 12, 2009 (LBO) – Sri Lanka’s renewable energy promotion agency is in a new drive to push larger solar power plants connected to the national grid in Sri Lanka though the technology is still relatively expensive.In rural Sri Lanka small off-grid plants are being sold by a number of private firms and solar hot […]
Oil Bids
Dec 11, 2009 (LBO) – Sri Lanka is ready to calls for bids for oil exploration in more blocks in the island’s north-west as well as the south, Petroleum Resources Minister A H M Fowzie said.Fowzie said oil and gas discoveries on the Indian side of the Mannar Basin meant there was a better chance […]
Knowledge Drive
Dec 11, 2009 (LBO) – Asia’s drive towards a knowledge economy is being helped by expanding and cheaper telecoms but fresh evidence-based policy interventions could speed this up, regulators and academics said at a policy forum in Colombo. Avoiding Miss-steps “The biggest contribution from research is not what is adopted, but what is not adopted,” […]
Offshore Edge
Dec 11, 2009 (LBO) – Sri Lankan, which is trying to attract more information technology outsource business, said a recent survey shows an increasing number of British small and medium enterprises (SMEs) are considering outsourcing work. One in five British SMEs are considering offshoring in 2010 as they seek to reduce labour costs to enable […]
Rate Rap
Dec 11, 2009 (LBO) – Sri Lanka’s Central Bank has asked banks to sharply reduce interest rates charged on credit cards, saying they had enough room to do so as interest rates in general had fallen.The Central Bank said in November that Treasury bill yields have fallen 947 to 950 basis points at primary auctions […]
Box Move
Dec 11, 2009 (LBO) – Sri Lanka’s Colombo port stands to gain more container transhipment business with Maersk, the world biggest container shipping line by volume, deciding to stop direct calls at Chennai, officials said.Maersk Lines’ parent A P Moller-Maersk has reported a loss of 778 million dollars for the first nine months of the […]
Sangakkara powers Sri Lanka to win
NAGPUR, December 9, 2009 (AFP) – Kumar Sangakkara smashed a career-best 78 off just 37 balls to set up Sri Lanka’s 29-run win in the first Twenty20 international against India here on Wednesday. India paid the price for some sloppy fielding with Yuvraj Singh dropping a sitter at point when Jayasuriya (26) was on two, […]
Sri Lanka alcohol producer to enter insurance business
Dec 10, 2009 (LBO) – Distilleries Company of Sri Lanka said it is seeking regulator clearance to launch an insurance company with a startup capital of 500 million rupees after losing control of a former state-owned insurance company. Distilleries shares opened Thursday trading at 96.00 rupees, after closing the previous day down 75 cents. Distilleries […]