Category: Industry
Tele Chase
NEW DELHI, Sept 18 (Asia Pulse) – Luxembourg-based Millicom has rejected Indian telecom PSU BSNL’s bid to acquire its operations in Sri Lanka, but India’s largest private mobile operator Bharti Airtel has entered the ring. Bharti Airtel, which is in talks with South African telecom firm MTN for a possible deal to create a US$23 […]
Risk Monitoring
Sept 18, 2009 (LBO) – Sri Lanka’s Bartleet TransCapital, has linked up with Aprivaa and risk consulting and analytical service provider for banks, insurers and asset managers, the company said.“The ever increasing complexity of products in the financial services sphere and the volatility of financial markets, make risk management and regulatory compliance of utmost importance, […]
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 […]
Craft Claim
Sept 18, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it rejected claims it faced a five billion rupee claim over unpaid taxes and customs duties on sale of vessels it built and that it was challenging a court petition by customs.The shipyard said in a stock exchange filing that it had settled all taxes, […]
Lower Risk
Sept 18, 2009 (LBO) – International underwriters in London have further lowered the war risk rating for Sri Lanka following the defeat by government forces of Tamil Tigers, and appear to have excluded Colombo port, a senior official said.The London market’s Joint Cargo Committee (JCC) has lowered the risk rating from 3.0 to 2.9 – […]
Cricket: Sri Lanka skipper Sangakkara hails bowlers
JOHANNESBURG, September 17, 2009 (AFP) – Sri Lanka skipper Kumar Sangakkara hailed his bowlers Thursday ahead of the ICC 2009 Champions Trophy in South Africa.“We are confident although our recent wins are not going to count for anything. All the teams here are professional units and whether they played recently or not won’t matter.” The […]
Repair Work
Sept 17, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it has won repair orders from an Indian tanker owner with the end of the 30-year ethnic war helping to attract new business.The listed shipbuilder said in a statement that Pratibha Shipping Co had sent two tankers for dry-docking repairs in mid-June and early July, […]
Sri Lanka Janashakthi Insurance expands in former war zone
Sept 16, 2009 (LBO) – Sri Lanka’s Janashakthi Insurance said it was expanding rapidly in the north and east, setting up branches and hiring more staff in the former zone. Janashakthi last weekend opened two brand new offices in Chavakachcheri and Chunnakam in the northern Jaffna peninsula, it said in a statement. “The two new […]
Done Deal
Sept 16, 2009 (LBO) – The London Stock Exchange (LSE) said it will acquire Sri Lanka’s MillenniumIT for 30 million US dollars (sterling 18 million), with the deal to be completed by mid-October.MillenniumIT, a technology firm which develops securities trading software will replace LSE’s existing trading platform and continue to service its exiting clients. MilleniumIT […]
Learning Experience
Sep 16, 2009 (LBO) – Sri Lanka’s Ceylinco Sussex College, a unit of the troubled Ceylinco Group, is to be managed by Merchant Bank of Sri Lanka (MBSL), which has taken over or is overlooking several troubled firms.More than 5,700 students are at 20 Ceylinco Sussex College branches island-wide, studying for national exams in the […]
Sri Lanka sets minimum hotel rates
September 16, 2009 (AFP) – With tourism booming in Sri Lanka following the end of decades of ethnic conflict, authorities have ordered hotels in the capital to increase room rates and curb an aggressive pricing war.Luxury hotels in Colombo will be forced to charge a minimum of 90 dollars a night, while stays in cheaper […]
Liner Move
Sept 16, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) said it had held talks with a visiting delegation of senior officials from Emirates Shipping Line which plans to augment and enhance its services in the region.“The delegation had deliberations with SLPA top brass on how to strengthen the partnerships between SLPA and Emirates […]