Category: Industry
Sri Lanka coach fears Commonwealth Games a target
MELBOURNE, March 10, 2009 (AFP) – Sri Lanka cricket coach Trevor Bayliss voiced fears on Tuesday that extremists would target next year’s Commonwealth Games in India and backed criticism of security arrangements in Pakistan. He supported criticism from match officials travelling in a minibus behind Sri Lanka’s team bus in Lahore that security was inadequate. […]
No Problem
Mar 10, 2009 (LBO) – Managers of Sri Lanka’s state-run pension fund of private sector workers, under fire for investing funds for state purposes as a ‘captive’ source, have said the fund is operating well. In an interview, officials managing the EPF denied all suggestions of impropriety, conflict of interest, or coming under pressure to […]
Hatton Performance
Mar 10, 2009 (LBO) – Sri Lanka’s Hatton National Bank group has reported profits of 3,830 million rupees in 2008, down 10.1 percent over the previous year on interest income of 38.7 billion rupees which grew 20.7 percent. Loan loss provisions increased 27.6 percent to 1,159 million rupees, while 259 million rupees was charged for […]
Hair labels ICC chief a bully over umpire attack comments
MELBOURNE, March 9, 2009 (AFP) – Outspoken Australian umpire Darrell Hair labelled ICC chief Haroon Lorgat a bully Monday for telling officials caught in the Lahore attack to be “more rational” about their experience. Australian umpires Simon Taufel and Steve Davis have complained that Pakistan failed to protect them when gunmen opened fire as they […]
Sri Lanka hydro storage fall below 300 million units
Mar 09, 2009 (LBO) – Hydro storage at Sri Lanka’s state-run power utility fell below 300 million units or 24 percent of capacity, with the firm offering to pay large customers to generate their own power.A newspaper advertisement by the Ceylon Electricity Board said inflow to its reservoirs during the past five months was the […]
Usage Gap
Mar 09, 2009 (LBO) – Sri Lankans low income customers of mobile communications, used phones least for business related activities in the region, potentially opening up a new marketing opportunity for celcos, a new study has found. “People who use phones for such activities have a higher income and people who don’t have a lower […]
Psychologists help Sri Lanka cricketers
March 8, 2009 (AFP) – Sri Lanka has hired psychologists to help its national cricket team overcome the trauma they suffered in the militant attacks in Pakistan, a doctor said Sunday. The four specialists would work “to mentally boost our cricketers, help them heal their mental scars and overcome the tragedy,” Geethanjana Mendis, head of […]
Better Margins
March 08, 2009 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) said group net profit rose 17 percent to 593 million rupees in 2008 from a year ago and that it managed to increase market share.Group total income in the financial year ending December 31, 2008 rose 49 percent to 13.9 billion rupees with net […]
Docking Trends
March 07, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit rose 32 percent to almost 1.5 billion rupees in 2008 from the year before, as it reaped the benefits of the shipping boom earlier in the year. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Pakistan IDs cricket attackers, security concerns mount
LAHORE, March 6, 2009 (AFP) – Authorities in Pakistan said they had identified the gunmen who attacked the Sri Lankan cricket team, as international concern mounted Friday over how the security plans failed. Prime Minister Kevin Rudd of Australia, home to two officials caught up in Tuesday’s deadly attack in the city of Lahore, demanded […]
Intervention
Mar 06, 2009 (LBO) – Sri Lanka’s central bank said it is looking for managing agents for two registered finance companies in the troubled Ceylinco group and a management shake-up is on the cards for another. Managing agents were being sought for Asian Finance and Ceylinco Investment and Realty under central bank monitoring while the […]
Leasing Sale
March 06, 2009 (LBO) – Sri Lanka’s largest leasing company is in talks to buy a leasing company in the island’s Ceylinco group, a listed investment bank in the group said in a stock exchange filing.Seylan Merchant Bank is in talks with People’s Leasing Company, a unit of state-run People’s Bank, to sell a controlling […]