Category: Industry
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 […]
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 […]
‘s triumphant Sangakkara takes nothing for granted
July 15, 2009 (AFP) – Kumar Sangakkara on Wednesday celebrated victory over Pakistan in his first series as Sri Lanka’s captain with a warning to team-mates to guard against future setbacks. “It’s true you have got to enjoy the good times, but you need to make sure that the team is prepared to face the […]
Network Move
July 15, 2009 (LBO) – Aepona, a global provider of telecoms software products and services headquartered in Belfast, Northern Ireland, said it has bought Valista, and will expand operations in Sri Lanka. It enables mobile and broadband operators to treat their network and informational assets as marketable resources that can be made available to third […]
Virgin Market
July 15, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) said it has launched its Bangladesh joint venture investment bank, NDB Capital Limited, positioning the group to be able to expand in a bigger market. “It’s a virgin market where professional investment banking services are currently not available,” Vajira Kulatilaka, chief executive of NDB […]
Pakistan in deep trouble after batting collapse
July 14, 2009 (AFP) – Sri Lanka engineered a spectacular Pakistan batting collapse on the third day to wrest control of the second Test at the P. Sara Oval here on Tuesday. The last three batsmen were leg-before in quick succession. The dramatic collapse undid Pakistan’s remarkable fightback in the match after they were shot […]
Sri Lanka win Test series after Pakistan cave in
July 14, 2009 (AFP) – Sri Lanka clinched their first home series against Pakistan after the temperamental tourists suffered a spectacular collapse in the second Test here on Tuesday.Pakistan, sitting pretty at 285-1 just before lunch on the third day, crashed to 320 all out after the break to leave Sri Lanka a victory target […]
Sri Lankan businesses warned of growing trade fraud
July 14, 2009 (LBO) – An international expert has warned Sri Lanka businesses to be more careful of their overseas partners and do background checks as trade fraud and risks grow in the wake of the global financial crisis. Companies engaged in international trade should not rely solely on banks to check the authenticity of […]
Sri Lankan Airlines in new freight handling and tracking system
July 14, 2009 (LBO) – Sri Lankan Airlines has upgraded to SkyChain, cargo handling and tracking system from Dubai-based Mercator, the airline said.“SkyChain is a web-based system that allows our customers the facility to monitor the progress of their consignments around the world from wherever there is internet accessibility,” Sri Lanka’s head of worldwide sales […]
Cyber War
July 14, 2009 (AFP) – A media rights organisation on Tuesday accused Sri Lankan authorities of blocking access to websites critical of the government and stifling dissent.The Paris-based Reporters without Borders, RSF, said Sri Lanka most recently blocked a site for reporting alleged incidents inside a camp for civilians displaced by the war with Tamil […]
Sri Lanka hotel earnings growth seen subdued
July 14, 2009 (LBO) – Sri Lanka expects more tourists this winter season with heightened interest in the destination after the war ended but hotel earnings are not likely to improve immediately, officials and analysts said.“We can’t definitely see a concrete increase in numbers right now but certainly there’s improved sentiment,” Tourist Hotels Association of […]