Category: Industry
Box Rates
Jan 17, 2009 (LBO) – A sharp fall in freight rates owing to the global recession and oversupply of tonnage is helping Sri Lankan exporters cope with slowing demand in overseas markets and high domestic costs, trade officials said.Randolph Perera, chairman of the Sri Lanka Shippers’ Council representing exporters and importers, said the drop in […]
‘s Kulasekara, Mendis restrict Bangladesh
DHAKA, January 16, 2009 (AFP) – Nuwan Kulasekara and Ajantha Mendis grabbed three wickets apiece as Sri Lanka dismissed Bangladesh for 152 in the triangular one-day series final here on Friday. Fast bowler Kulasekara picked three of the first five wickets in a lively opening spell to send Bangladesh reeling at 54-5 in the 19th […]
Singapore Airlines cuts more than 200 flights
SINGAPORE, January 16, 2009 (AFP) – Singapore Airlines (SIA) is cutting more than 200 flights to Australia, China, Europe and India in response to falling passenger numbers, the company and travel agents said on Friday.Alicia Seah, a senior vice president at CTC Holidays travel agency, said many Singaporeans were opting for closer and cheaper holiday […]
Port Performance
Jan 16, 2009 (LBO) – All Sri Lankan regional ports are loss-making and supported by earnings from Colombo harbour, Sri Lanka Ports Authority chairman Priyath Wickrema said.Sri Lankan ports are hugely overstaffed after successive governments stuffed them with supporters in order to win votes under the system of patronage politics practiced in the island. Ports […]
Indian Signal
Jan 15, 2009 (LBO) – India’s state-run Oil and Natural Gas Corporation (ONGC) which has been given an off-shore oil block in Sri Lanka, will inform the island whether it will start exploration within a month, a media report said.India’s Economic Times newspaper said Sri Lanka’s oil minister A H M Fowzie had met Indian […]
Sri Lanka tourist arrivals fall 18-pct in Nov 2008
Jan 15, 2008 (LBO) – Sri Lanka’s tourist arrivals fell 18.2 percent in November to 36,091 with key generating markets of Western Europe down 28.2 percent and South Asia down 12.6 percent, the tourist promotion office said. In the 11 months to November arrivals were down 10 percent to 389,550. November 2008, Western European arrivals […]
Counter Measures
Jan 15, 2009 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm, is slowing new lending and focusing on recoveries as a prudential measure as economic conditions weaken, a top official said. “About six to seven months back we expected that there might be a problem in the industry,” says D P Kumarage, the […]
Sri Lanka stunned by Hasan blitz
DHAKA, January 14, 2009 (AFP) – Shakib Al Hasan smashed an explosive 92 not out to power Bangladesh into the triangular one-day series final with an upset five-wicket win over Sri Lanka here on Wednesday.The left-hander cracked two sixes and 10 fours in his 69-ball knock as Bangladesh surpassed Sri Lanka’s total of 147 with […]
Peak Performance
Jan 14, 2009 (LBO) – Condom use has peaked in Sri Lanka but sales of oral birth control methods such as emergency contraceptives are rising, the island’s top marketer of family planning services said.The Family Planning Association of Sri Lanka, a non-profit entity, has launched a new anesthetized condom, which can give new life to […]
India to tour Sri Lanka next month
January 13, 2009 (AFP) – India will play five one-dayers and a Twenty20 international against hosts Sri Lanka next month to help fill the gap created by their cancelled tour of Pakistan, officials said Tuesday.The dates and venues for the hastily arranged series will be announced within a few days, Indian cricket board secretary N.Srinivasan […]
Interest Trends
Jan 13, 2009 (LBO) – Sri Lanka’s LB Finance said net profit for the December quarter rose 39 percent to 84 million rupees from a year ago, with interest income almost doubling. Total income fell 11 percent to just over a billion rupees, according to results released by the firm, the first listed company to […]
Port of Call
Jan 13, 2009 (LBO) – The Sri Lanka Ports Authority will start construction work on a yacht marina in the southern Galle harbour this week as part of efforts to promote it as a tourism port, a senior official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]