Category: Industry
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 […]
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 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 […]
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 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 […]