Category: Industry
Slow Down
July 07, 2009 (LBO) – Sri Lanka’s commercial banks are likely to experience a slowdown in growth and profitability pressures from fresh asset quality problems, Fitch Ratings said. The rating agency said that it believes that if the policy environment improves, the banks’ balance sheets will be able to absorb the stress over the next […]
Listing Deadline
July 5, 2009 (LBO) – Sri Lanka’s registered finance companies will have to be listed by June 30, 2011 as part of a prudential regulation framework promoted by the Central Bank, a media report said.The Sunday Island newspaper quoted Central Bank governor Nivard Cabraal as saying that out of 34 registered finance companies only eight […]
Sri Lanka wipe out deficit in first Pakistan Test
GALLE, July 6, 2009 (AFP) – Sri Lanka batted cautiously on a lively wet pitch to cancel Pakistan’s 50-run lead on the third day of the first cricket Test here on Monday.The hosts took their second innings from the overnight 0-0 to 70-2 by lunch and now lead by 20 runs with eight wickets in […]
Pakistan chase 168 to win first Sri Lanka Test
GALLE, July 6, 2009 (AFP) – Pakistan faced a target of 168 runs to win the first cricket Test after bowling Sri Lanka out for 217 in their second innings after tea on the third day on Monday. Tharanga Paranavitana top-scored with 49, while fast bowler Mohammad Aamer and off-spinner Saeed Ajmal picked up three […]
‘s Arugam Bay waves again
July 6, 2009, ARUGAM BAY (LBO) – Arugam Bay in eastern Sri Lanka is coming to life after the end of a 30-year war in Sri Lanka cleared the way for surfers from around the world to ride its waves again.Hotels in the area were packed to capacity this week when surfers flocked to the […]
Back-in-favour Yousuf repays Pakistan with ton
GALLE, July 5, 2009 (AFP) – Mohammad Yousuf hit a fluent century on his return to big-time cricket to put Pakistan ahead in the first Test against Sri Lanka here on Sunday.Dilshan was forced to don the gloves because first choice Prasanna Jayawardene was unavailable due to injury and skipper Kumar Sangakkara, the one-day ‘keeper, […]
Energy-pioneering Austrian town exports its model
GUESSING, July 5, 2009 (AFP) – After 20 years investing in renewable energy, the small Austrian town of Guessing, a model of energy self-sufficiency, is spreading its pioneering technology far and wide. That would cut CO2 emissions in the district by 85 percent, he added. Guessing’s model has also raised interest farther afield and in […]
Lease Rating
July 05, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed the Commercial Leasing Company (CLC) national rating at ‘A-(lka)’, with a stable outlook. Ficth said in a statement CLC’s rating reflects its fairly strong financial profile, good asset quality and implied support assumed to be available from its parent, Lanka ORIX Leasing Company […]
Keel Laying
July 05, 2009 (LBO) – Sri Lankan shipyard Colombo Dockyard said it has laid the keel for construction of the third Multipurpose Platform Supply Vessel for Greatship India.The vessels can undertake multi-purpose roles such as transportation of pipes, fresh water, diesel oil, bulk cement, stores, equipment, moving men and materials between platforms and shore, and […]
Oil Drain
July 4, 2009 (LBO) – The Sri Lanka unit of the Indian Oil Corporation is running out of cash and may not be able to import the next consignment of oil as crude prices rise and taxes bite into revenue, an official said. Based on yesterday’s Singapore wholesale refined product prices released by the Central […]
‘s young brigade rattles Sri Lanka
GALLE, July 4, 2009 (AFP) – Teenage fast bowler Mohammad Aamer led Pakistan’s spirited new-look attack to bowl out Sri Lanka for 292 on the opening day of the first cricket Test here on Saturday. Rauf had Paranavitana caught by Misbah-ul Haq at first slip midway through the post-lunch session, before Younus dismissed Samaraweera through […]
Public Service
July 4, 2009 (LBO) – W A Wijewardena, widely regarded as one of the top economists the country has ever produced, retired from his post as deputy governor of Sri Lanka’s central bank Friday, after a 36 year career in public service. He has also chaired other task forces including one on the adoption of […]