Category: Industry
Ton-up Younus keeps Pakistan afloat
KARACHI, February 23, 2009 (AFP) – Debutant captain Younus Khan completed a fighting hundred as Pakistan kept Sri Lanka at bay on the third day of the opening Test here on Monday.Younus was unbeaten on 101 as the home team, replying to Sri Lanka’s mammoth first innings total of 644-7, reached 213-2 at tea.The other […]
Sri Lanka seen as China marketing hub
Feb 23, 2009 (LBO) – Chinese businesses are eying Sri Lanka’s regional and international trade concessions and strategic geographical location as a window into European Union and other Asian markets, a visiting Chinese trade official said. “The geographical location of Sri Lanka is good. It can be used as a window into other Asian and […]
Sri Lanka record stand leaves Pakistan struggling
KARACHI, February 22, 2009 (AFP) – Mahela Jayawardene and Thilan Samaraweera smashed double hundreds during a world record stand of 437 as Sri Lanka left Pakistan with a mountain to climb in the opening Test here on Sunday.Jayawardene ended on 240 and Samaraweera struck a career-best 231 as the tourists declared their first innings at […]
Bigger Banks
Feb 22, 2009 (LBO) – Sri Lanka’s banking sector is not at risk from the global credit crisis but needs consolidation to be able to improve returns and attract fresh capital, a senior banker said. Clearer regulatory guidelines were needed to cover changes in ownership in the banking sector and to handle the implications of […]
Sri Lanka reach 120-2 at lunch in first Pakistan Test
KARACHI, February 21, 2009 (AFP) – Kumar Sangakkara and Malinda Warnapura hit half-centuries to help Sri Lanka reach 120-2 by lunch on the opening day of the first Test against Pakistan here on Saturday.Sangakkara was unbeaten at the break on 51 with skipper Mahela Jayawardene on five not out after Sri Lanka won the toss […]
” of the game: Bird
LONDON, February 21, 2009 (AFP) – Money has been the “ruination” of cricket, former Test umpire Dickie Bird said Saturday, after the England and Wales Cricket Board (ECB) terminated all contracts with alleged fraudster Allen Stanford.Bird called for a return to “old traditions and principles” in a comment piece in The Sun tabloid and said […]
Sri Lanka flay Pakistan in first Test
KARACHI, February 21, 2009 (AFP) – Mahela Jayawardene and Thilan Samaraweera hit punishing hundreds to lead Sri Lanka’s run charge against Pakistan on the opening day of the first Test here on Saturday as the tourists reached 406-3.Jayawardene was unbeaten on 136 — his 25th Test hundred — while Samaraweera notched 130 not out for […]
Finance Support
Feb 20, 2009 (LBO) – Sri Lanka’s government is offering four billion rupees in bonds and guarantees to improve liquidity in registered finance and leasing companies facing liquidity problems, central bank governor Nivard Cabraal said.A liquidity ratio of 15 percent required to be maintained against fixed deposits would be cut to 10 percent and a […]
Sri Lanka December 2008 exports fall sharply
Feb 19, 2009 (LBO) – Sri Lanka’s total exports in December 2008 fell 19.1 percent to 681 million dollars from a year ago, dragged down by a sharp fall in its main product tea, as well as garments, the central bank said.“The performance of agricultural and industrial exports appears to have been affected by the […]
Inter Connection
Feb 19, 2009 (LBO) – Sri Lanka’s Telecommunication Regulatory Commission (TRC) will ask mobile phone operators to give adequate connections to calls from customers of new entrant Bharti Airtel, an official said. “I think what would have happened is Airtel is overwhelmed with more traffic than they had originally estimated, and now they are crying […]
Banking Numbers
Feb 19, 2009 (LBO) – Sri Lanka’s NDB Bank said group net profit rose sharply in the December quarter, although annual profit was up only five percent to 1.6 billion rupees from a year ago.NDB group total income for the December quarter rose almost 30 percent to 3.2 billion rupees and net profit increased almost […]
Bailout Program
Feb 19, 2009 (LBO) – Sri Lanka’s government will make a final decision on a bailout package to deal with toxic assets of banks and finance companies next week, government minister said. He said the first round of negotiations was held Wednesday. State-run People’s Bank has also stopped payments on hedges to counterparty banks, opening […]