Category: Industry
Fund Flow
June 14, 2009 (LBO) – A part of the pension funds of Sri Lanka’s private sector workers may be diverted as unemployment benefits to those who lose jobs in the current economic crisis, a media report said.The Sunday Times newspaper said authorities are set to take out billions of rupees of unclaimed Employees Provident Fund […]
Sri Lankan bowling inspires Sangakkara
LONDON, June 13, 2009 (AFP) – Sri Lanka captain Kumar Sangakkara believes his side’s varied attack is the reason they’ve remained unbeaten so far at the World Twenty20.The team have long been known for the quality of their spin bowling yet Pakistan were 35 for three at Lord’s on Friday before the likes of off-break […]
Sri Lanka Insurance chief promises professional management
June 13, 2009 (LBO) – Newly appointed competent authority to Sri Lanka Insurance Corporation (SLIC), has said that the firm will be managed professionally, setting an example to the private and public sectors, an employee said.Nalaka Godahewa was appointed as competent authority to SLIC after it was returned to government hands on a court order.The […]
Power Finance
June 13, 2009 (LBO) – Sri Lankan private sector firms are too small yet to start mega infrastructure such as coal plants on their own, the International Finance Corporation (IFC) which is financing such plants in the region, said. The IFC, the private sector finance arm of the World Bank, likes to partner with the […]
Fuel Reach
June 12, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp, wants to seek clarification on reports the island’s government is to amend its agreement with the fuel retailer, a senior official said. LIOC managing director Suresh Kumar said he was unaware of any plans to change the deal with the […]
Ruthless South Africa enjoying Twenty20, says Smit
NOTTINGHAM, June 12, 2009 (AFP) – South African captain Graeme Smith is ready for the challenges ahead in the World Twenty20 after a crushing seven-wicket win over hosts England. Smith praised young left-arm seamer Wayne Parnell, who picked up three wickets to wreck England’s batting before Jacques Kallis hit a half-century to guide the Proteas […]
On-song Sri Lanka set for Super Eights
NOTTINGHAM, June 11, 2009 (AFP) – Sri Lanka emerged as one of the favoured teams in the World Twenty20 after their clinical destruction of mighty Australia and the West Indies in the first round.
Sri Lanka Mitsubishi agent makes loss
June 11, 2009 (LBO) – Sri Lanka’s United Motors Lanka Limited (UMLL) group, agents for Japan’s Mitsubishi lost 90 million rupees in the March 2009 quarter as revenues dropped 13.0 percent to 7.30 billion rupees. For the year to March the firm lost 2.53 million rupees while revenues dropped 13.0 percent to 7.30 billion rupees. […]
Northern Banking
June 11, 2009 (LBO) – Sri Lanka’s central bank said banks have been given the nod to open 67 new outlets in the last three weeks in the north of the island after the area was freed of Tamil Tigers. “This trend of banking expansion in the Northern Province is expected to grow with the […]
Dark Continent
June 11, 2009 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning to finance renewable power plants in Africa with the help of the International Finance Corporation (IFC), an official said. Commercial Bank officials did not say who their engineering partners in Uganda would be. In July 2007 Sri Lankan power company Eco Power […]
Pakistan survive, South Africa squeeze past Kiwis
LONDON, June 9, 2009 (AFP) – Pakistan avoided following Australia out of the World Twenty20 on Tuesday while South Africa hammered home their position as favourites by successfully defending the format’s lowest ever total.Pakistan, the runners-up at the 2007 championship, had been defeated by England in their opening match and needed to beat the Netherlands. […]
Sri Lanka to get AirAsia low fare flights
June 10, 2009 (LBO) – AirAsia said it will launch daily flights from Sri Lanka from August 15 offering promotional all-in fares as low as 4,090 rupees one way between Colombo and Kuala Lumpur. The Malaysia-based carrier, known as Asia’s largest low fare, no frills airline, said Colombo is an important destination for AirAsia to […]