Category: Industry
State Club
June 16, 2009 (LBO) – The clubhouse of a golf course which was ordered in to state hands by court over corruption charges is operating as a hotel and starting to generate profits, an official said.The Water’s Edge golf course in Colombo was ordered returned to the state and its clubhouse is now run by […]
India crash, Sri Lanka suffer Irish scare
LONDON, June 14, 2009 (AFP) – Defending champions India crashed out of the World Twenty20 on Sunday while Sri Lanka stayed on course for the semi-finals but only after surviving a scare by Ireland. India lost by three runs to England at a packed Lord’s, a result which left Mahendra Singh Dhoni’s highly-rated team to […]
Circular Delay
June 15, 2009 (LBO) – The Sri Lankan government has decided to call for fresh tenders for the Greater Colombo Urban Transport Development Project as previous bids were too high. The project, meant to ease traffic jams in Colombo, is funded by a 223 million US dollar loan from Japan, the finance ministry said in […]
‘s World Cup hosting rights hang in balance
LONDON, June 14, 2009 (AFP) – World cricket chiefs are working out a middle path to resolve the controversy over Pakistan’s right to remain co-hosts of the 2011 World Cup in the sub-continent. Top officials of the International Cricket Council, including president David Morgan of England, will debate the matter at a meeting here on […]
Desert Tragedy
RIYADH, June 13, 2009 (AFP) – Nineteen men, most of them foreign workers, were incinerated when a Saudi bus caught fire after crashing into a truck during a blinding sandstorm, a transport official said on Saturday. No one escaped from the burning bus when it hit a slow-moving truck entering the road from the shoulder […]
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 […]
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. […]