Category: Industry
Sri Lanka revise India tour schedule
January 22, 2009 (AFP) – The central town of Dambulla will host just one match instead of two during India’s upcoming tour of Sri Lanka, the two cricket boards said in a statement on Thursday.Dambulla, which was due to hold the first two matches of the five-match one-day series, will now host only the opening […]
Sri Lanka state textile firm to shed staff
Jan 22, 2009 (LBO) – A partially operational state textile firm which is overstaffed and debt ridden would be restructured with about half its workers being laid off, an official said. Sri Lanka’s overstaffed state-run firms eat up billions in tax-payer money. Lanka Salusala Ltd now has 298 workers. The firm’s board of directors was […]
Profitable Calls
NEW DELHI, January 22, 2009 (AFP) – Top Indian mobile phone firm Bharti Airtel reported a third-quarter net profit rise of 25 percent Thursday after signing a record number of users in the world’s fastest-growing cellular market. Net profit in the three months to December-end jumped to 21.59 billion rupees (434 million US dollars) from […]
Airing Deal
January 22, 2009 (LBO) — Nimbus Sports International on Wednesday said it bagged the worldwide rights to broadcast India’s upcoming cricket tour of Sri Lanka. Nimbus bags rights for Sri Lanka Cricket India last toured Sri Lanka in July-August last year, losing the Tests 2-1 before winning the one day series 3-2. Sri Lanka Cricket, […]
Sri Lanka apparel exporters say depreciation needed; bailout doubtful
Jan 21, 2009 (LBO) – Sri Lankan apparel exporters say a sharp depreciation of the rupee is needed, as demand falls in major markets and hurdles on a promised state bailout may limit its usefulness. The rupee has fallen to 113-114 against the dollar from around 108 last September. “If the rupee is around 118 […]
Sri Lanka apparel industry may lose 30-40,000 jobs
Jan 21, 2009 (LBO) – About 30-40,000 people employed in Sri Lanka’s apparel export industry may lose their jobs this year owing to a slow down in orders because of recession in key markets, a senior official said.Ajith Dias, chairman, Joint Apparel Association Forum, said the industry is also facing a brain drain with the […]
‘s Kingfisher Airlines
Jan 20, 2009 (LBO) – In the wake of global airline bankruptcies and route cuts, India’s Kingfisher Airlines has expanded its international presence with flights to Sri Lanka, and plans for daily connections from Bangalore and Chennai to Colombo. “We have plans to expand quite considerably this year, and choose Colombo as it’s our nearest […]
‘s best
KARACHI, January 20, 2009 (AFP) – Pacemen Rao Iftikhar took a career-best 4-42 to help Pakistan restrict Sri Lanka to 219 in the first day-night international at the National Stadium here Tuesday.The 28-year-old medium pacer removed top-scorer Kumar Sangakkara (49), skipper Mahela Jayawardene (one) and Thilan Thushara (nought) to derail the visitors who had a […]
Hedge Exposure
Jan 19, 2008 (LBO) – Sri Lanka’s Commercial Bank said its exposure to an oil derivative sold through People’s Bank would be 21.6 million dollars with oil at 35 dollars a barrel, which the state-run bank has so far not honoured. The contract is one of several arranged for state-run Ceylon Petroleum Corporation (CPC) by […]
Jayawardene plays down Mendis hype in Pakistan series
KARACHI, January 18, 2009 (AFP) – Sri Lankan skipper Mahela Jayawardene Sunday refused to single out spin sensation Ajantha Mendis as the major threat for Pakistan in the one-day series.The 23-year-old Mendis and his more illustrious partner Muttiah Muralitharan are tipped to hold the aces against the home team in the three-match series which starts […]
Sri Lanka cricket feels squeeze as sponsors take flight
January 19, 2009 (AFP) – Sri Lanka’s economic slowdown has taken its toll on the island’s hugely popular sport of cricket as long-term sponsor disappear, sports minister Gamini Lokuge said on Monday.During the three-month trial that ends on March 31, Sri Lanka will play two Tests and three one-day internationals in Pakistan and host India […]
Travel Ban
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it had won a court order impounding the passports of several officials of Okanda Finance Limited, an unlicensed finance company, to prevent them leaving the country. A bank statement said four of six organisations and individuals carrying on finance business without authority had failed to […]