Category: Industry
Missed Connections
July 20, 2009 (LBO) – Better transport infrastructure and services linking northern Sri Lanka with the south would help to bridge the ethnic divide after the end of the war, transport experts said.Had such links existed before the conflict began 30 years ago, they might have helped prevent the war by Tamil Tigers for a […]
Box Trades
July 20, 2009 (LBO) – A Colombo port container terminal in which Sri Lanka’s John Keells Holdings has a big stake said its volumes hit a record monthly high in June 2009, although it was mostly low-margin transhipment traffic. “JKH management stated that it did not expect the loss of business from APL to significantly […]
Lube Fortunes
July 20, 2009 (LBO) – Sri Lanka’s Chevron unit said net profit for the June 2009 quarter shot up 45 percent to 400 million rupees from a year ago mainly because of higher margins. Chevron Lubricants Lanka said in a stock exchange filing that sales for the three months rose two percent to 2.1 billion […]
Pakistan rebuild after early shocks in final Test
July 20, 2009 (AFP) – Khurram Manzoor and Mohammad Yousuf lifted Pakistan with an unbeaten 67-run stand after Sri Lanka’s Thilan Thushara struck quick blows at the start of the third Test here on Monday. Pakistan, sent in to bat in overcast conditions by Sri Lankan captain Kumar Sangakkara, recovered from a shaky 34-2 to […]
Manzoor, Yousuf rescue Pakistan in final Test
July 20, 2009 (AFP) – Khurram Manzoor and Mohammad Yousuf narrowly missed scoring centuries as they led Pakistan’s recovery on the opening day of the final cricket Test against Sri Lanka here on Monday.Pakistan, sent in to bat in overcast conditions by Sri Lankan captain Kumar Sangakkara, collapsed to 34-2 within the first hour as […]
Recommendation
July 18, 2009 (LBO) – Court appointed accountants probing a failed financial firm in Sri Lanka’s Ceylinco group have recommended that its chairman directors “bring in” an additional 13 billion rupees to start repaying depositors. The Golden Key Credit Card Company collapsed with debts of 26 billion of which 12.7 billion is capital and 13.2 […]
Joint Fight
July 17, 2009 (LBO) – The Financial Intelligence Unit (FIU) of Sri Lanka’s Central Bank has signed Memoranda of Understanding (MOU) with FIUs of the Philippines and Nepal, a bank statement said. FIUs have been established in more than 130 countries as dedicated institutions to fight against money laundering, terrorist financing and other unlawful activities. […]
Market Links
July 17, 2009 (LBO) – Sri Lanka’s private sector has been told a host of investment opportunities have emerged in rebuilding transport infrastucture in the north and east, much of which was destroyed or neglected owing to war.Transport specialist Rohan Abeywickrema said there were opportunities to create facilities to link farmers and factories in the […]
Umbilical Link
July 17, 2009 (LBO) – A proposal to build a bridge linking Sri Lanka and Indian across the Palk Straits is to be discussed at a meeting of south Asian transport ministers in Colombo, a senior official said.Amal Kumarage, chairman of the island’s National Transport Commission, said the bridge will help Sri Lanka regain its […]
Liquid Option
July 16, 2009 (LBO) – Depositors of a collapsed Sri Lankan financial firm should seek its liquidation under civil law to realize assets while criminal proceedings may put pressure on directors surrender other assets, a senior lawyer has said. “But in my view there is a limit to what could be realized and in my […]
Permit Fever
July 16, 2009 (LBO) – Private bus operators in Sri Lanka are clamouring for permits to ply the northern Jaffna route with the end of a drawn out civil conflict, Amal Kumarage, chairman of the island’s National Transport Commission said. Government forces defeated the Tamil Tiger rebels in May after a lengthy military campaign and […]
Sri Lankan stocks close down 0.2-pct
July 16, 2009 (LBO) – Sri Lankan shares closed down on Thursday, as retail investors took profits on mid cap stocks and index heavy blue chips, brokers said. The benchmark Colombo All Share Price Index closed down 0.27 percent (6.30 points) to end at 2,366.74, while the Milanka index of liquid stocks gained 0.61 percent […]