Category: Industry
Sri Lanka apparel firms mull investments in former war zone
Jan 27, 2009 (LBO) – Sri Lankan apparel exporters said they are considering expanding into the former war-zone in the island’s north and east from where Tamil Tigers have been driven out.Ajith Dias, chairman of the Joint Apparel Association Forum, an industry umbrella body, said the government is trying to encourage apparel companies to set […]
Bonus Interest
Jan 27, 2009 (LBO) – Sri Lanka’s Central Bank said the government will pay a 20 percent bonus interest in rupees on the interest earned on foreign currency deposits in banks from February 1.“This aims to promote inflows of foreign remittances into Sri Lanka through the banking channels as well as to promote the general […]
‘s Murali set for record double in India series
DAMBULLA, January 26, 2009 (AFP) – Ace Sri Lankan spinner Muttiah Muralitharan is poised to complete a record bowling double during the one-day series against India starting on Wednesday. The off-spinner is just three wickets short of surpassing former Pakistani paceman Wasim Akram’s world record of 502 one-day scalps, having grabbed 500 in 324 matches […]
Sri Lanka tourist arrivals from major markets fall sharply
Jan 26, 2009 (LBO) – Tourist arrivals into Sri Lanka last year fell sharply from its main markets of India and Britain whose currencies also depreciated significantly against the dollar. Tourist industry analysts said that the downturn in tourism could worsen this year because of the weaker currencies and economic slowdown in key visitor generating […]
‘s Jayawardene eyes India challenge after Pakistan rout
LAHORE, January 24, 2009 (AFP) – Sri Lankan captain Mahela Jayawardene said his team were progressing well and he was looking forward to facing India after thumping Pakistan Saturday to win the one-day series 2-1.Jayawardene’s team beat the home side by a whopping 234 runs in the third and final day-night international — the heaviest […]
Sri Lankan Airlines in discounted internet sales strategy
Jan 25, 2009 (LBO) – Sri Lankan Airlines has launched a discounted online ticket sales program where cut price tickets can be bought by booking ahead, the company said, tapping the price-sensitive end of the market. “We are giving these incredible discounts to almost all our destinations in Europe, the Middle East, South Asia, and […]
Sri Lanka LNG power plant to Australian consultancy
Jan 24, 2009 (LBO) – Sri Lanka has given tax concessions to an Australian consultancy to develop a 488 MegaWatt liquefied natural gas (LNG) fired power plant for the state-run electricity grid, the island’s investment promotion agency said. There was no mention whether a minimum volume has been guaranteed or whether a formal power purchase […]
Sri Lanka apparel exporters look East as Western markets slow down
Jan 23, 2009 (LBO) – Sri Lankan apparel exporters are looking for new markets like India, China and Japan as demand slows down in established markets where recession has begun to bite, an industry official said. Ajith Dias, chairman, Joint Apparel Association Forum, said they want to market high value garments in India with a […]
Tech Battle
WASHINGTON, January 23, 2009 (AFP) – Barack Obama celebrated the first triumph of his presidency on Thursday, revealing he will get to keep his beloved BlackBerry.“I have won the fight but I don’t think it is up and running yet,” Obama said, during an impromptu visit to the White House briefing room. At a time […]
Liquidity
Jan 23, 2009 (LBO) – Sri Lankan registered finance company sector (RFC) which has been shaken by recent collapses of unregulated institutions should be able to overcome liquidity problems, a rating agency has said. RAM Ratings say that the collapse of Sakvithi and Golden Key, two unregulated firms had affected public confidence. “So much so […]
Long Voyage
Jan 23, 2009 (LBO) – Sri Lanka’s Galle port is sprucing itself up with a new yacht marina in a bid to attract the high-spending sailors who sail past the island’s south coast on their round-the-world voyages. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “The facilities […]
Dollar Account
Jan 23, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) is awaiting government approval to operate a ‘dollar account’ to cut mounting foreign exchange losses due to a strong rupee and an appreciating yen, a senior official said. “We are planning to get a dollar account. If we can get permission from central bank […]