Category: Industry
England face Sri Lanka spin in opening match
JOHANNESBURG, September 24, 2009 (AFP) – Andrew Strauss’s England face a stiff spin test when they take on a confident Sri Lanka in their opening match of the Champions Trophy here on Friday. Sri Lanka have two excellent spinners in Muttiah Muralitharan and Ajantha Mendis, capable of making life difficult for batsmen with their subtle […]
Sri Lanka power IPO gives small investors preference
Sept 24, 2009 (LBO) – Small investors who applied for up to 500 shares in an initial public offering by Sri Lanka’s Hemas Power will be given their full allotments, according to a stock exchange filing.NDB Investment Bank, which handled the issue, said they had got 2,582 applications up to and inclusive of 500 shares […]
Sri Lanka Hayleys ups stake in fabric unit
Sept 24, 2009 (LBO) – Sri Lanka’s Hayleys group said it has increased control of its fabric manufacturing unit, Hayleys-MGT Knitting Mills, after a mandatory offer to buy up shares of other shareholders. The firm said earlier that independent advice provided by Merchant Bank of Sri Lanka on the mandatory offer has found the price […]
Reaching Out
Sept 24, 2009 (LBO) – Sri Lanka’s NDB Bank said it plans to open five branches in the north and east regions which are recovering after the end of the island’s ethnic war.“Communities across the north and east now have a rare opportunity to rebuild their lives, reconstruct their homes, sustain a livelihood, pursue their […]
Sri Lanka Dilshan attributes run rush to positional switch
CENTURION, September 23, 2009 (AFP) – Sri Lanka hero Tillakaratne Dilshan says switching from the middle to top order has helped develop him into a fearsome run machine.He scored 106 to set his country up for a surprise 55-run victory over hosts South Africa at SuperSport Park on Tuesday in the opening match of the […]
Regional Links
Sept 23, 2009 (LBO) – A South Asian broadband communication conference and expo to be held in Sri Lanka in October with speakers from the global industry will focus on investing, and cost and revenue models in the fast growing region.It will also cover how Next Generation Technology fits into the region, home to large […]
Rebuilding Work
Sept 23, 2009 (LBO) – The Red Cross movement had spent 220 million US dollars to build 30,000 houses, upgrade healthcare centres, re-build water supply and drainage facilities in villages devastated by a tsunami in 2004, officials said.“The tsunami operation has been an unparalleled challenge for the Red Cross movement in Sri Lanka,” Paul Fmes, […]
Port Industries
Sept 23, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) says foreign investors are vying to put up fertiliser and cement plants and ship yards in a new port in Hambantota on the south coast. Wickrama declined to identify the investors as talks were going on. A request for proposals (RFP) inviting investments in […]
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Sept 22, 2009 (LBO) – Fitch Ratings said it has upgraded Sri Lanka HNB Assurance’s (HNBA) National Long-term rating to ‘A(lka)’ from ‘A-(lka)’ with a stable outlook. Concurrently, Fitch has affirmed HNBA’s National Insurer Financial Strength (IFS) rating at ‘A(lka)’. “The upgrade of HNBA’s National Long-term rating reflects mainly the implicit capital, franchise and distribution […]
Food Profits
Sept 21, 2009 (LBO) – The catering unit of state-run Sri Lankan Airlines said it was expecting an upturn with more visitors coming to the island after a war with a 1.2 billion rupee net profit already under its belt in the year to March 2009. These include Emirates, Qatar, Malaysian Airlines, Royal Jordanian, Kuwait […]
Tertiary Reform
Sep 20, 2009 (LBO) – Sri Lanka’s tertiary education policy should change to encourage fee-based universities of international standard to be set up, which will prevent students going abroad for degrees, a senior academic has said. Due to under-investment in tertiary education, areas for which there is a demand in the economy, such as engineering, […]
Name Change
Sep 18, 2009 (LBO) – Ceylinco Finance, a Sri Lankan finance company that was part of the troubled Ceylinco group, has changed its name to Nation Lanka Finance to make a fresh start, a senior company official said. “The company is heading towards a new direction,” N B S B Balalle, chairman of Nation Lanka […]