Category: Industry
Sri Lanka Ceylinco Insurance says life premium up 20-pct
Jan 06, 2009 (LBO) – Sri Lanka’s Ceylinco Insurance Company said premium income at its life division rose 20.37 percent to 7.4 billion rupees in the 12 months to November, 2008. Benefits paid out to policyholders exceeded two billion rupees in the first 11 months of 2008, while the company’s solvency margin remained at five […]
Court Action
Jan 06, 2008 (LBO) – A Sri Lankan court has remanded three persons connected with Golden Key Credit Card Company, a crashed financial firm of the Ceylinco group, a reporter said. Seylan was put under the state-run Bank of Ceylon and its board of directors replaced by Sri Lanka’s central banks after depositors started to […]
Almost Full
Jan 06, 2009 (LBO) – A private container terminal in Colombo port which is the main money-spinner for Sri Lanka’s John Keells Holdings group, may be nearing its full capacity, analysts and port officials said. But the business was affected when JKH was forced to return its fuel tank farm to the port when the […]
Terminal Move
Jan 06, 2009 (LBO) – The Sri Lankan government will call for proposals from the private sector to build a container terminal in a new port being built next to Colombo before the end of January, a senior port official said. The Asian Development Bank has loaned the bulk of the funds for the infrastructure […]
‘s Dilshan fires team to record Test win
CHITTAGONG, January 6, 2009 (AFP) – Tillakaratne Dilshan gave a superb all-round performance to power Sri Lanka to a record 465-run victory over Bangladesh in the second and final Test here on Tuesday.It was the fifth-largest win by runs in the history of the game. It was also Sri Lanka’s biggest victory in 182 Tests […]
Sri Lanka consolidate in second Bangladesh Test
CHITTAGONG, January 5, 2009 (AFP) – Sri Lanka lost two quick wickets before reaching 95-2 in their second innings at lunch on the third day of the second Test against Bangladesh here on Monday. Sri Lanka lead the two-Test series 1-0 after winning the opener in Dhaka by 107 runs. The visitors, who made 384 […]
Sri Lanka pile on huge lead in Bangladesh Test
CHITTAGONG, January 5, 2009 (AFP) – Tillakaratne Dilshan and Thilan Samarweera smashed unbeaten half-centuries to put Sri Lanka in the driver’s seat on the third day of the second Test against Bangladesh here on Monday.Dilshan, who top-scored with 162 in the first innings, hit 81 while Samarweera scored 72 as the visitors reached 296-4 in […]
Cell Call
Jan 05, 2009 (LBO) – The Sri Lanka unit of Bharti Airtel would launch its operations on January 12, the company said, kicking off a media campaign Monday and taking full page advertisements in local newspapers. BOI said the firm has been approved by the Telecommunications Regulatory Commission and planned to start operations by December […]
Cell Rules
Jan 04, 2009 (LBO) – Sri Lanka will issue new rules covering financial transactions through mobile phones, Central Bank Governor Nivard Cabraal said, as the island’s fast growing celcos join banks to offer new payment methods. “Given the increased usage of mobile phones for financial transactions, the Central Bank intends to issue new operating guidelines […]
Sri Lanka Dilshan rallies team with century
CHITTAGONG, January 3, 2009 (AFP) – Tillakaratne Dilshan smashed a superb 162 off 165 balls to lead Sri Lanka’s fightback on the opening day of the second and final Test against Bangladesh here on Saturday.Dilshan hit two sixes and 21 fours for his sixth Test century as the visitors recovered from a shaky 75-4 to […]
Liquidity Status
Jan 02, 2009 (LBO) – Sri Lanka has no need for a liquidity facility for finance companies yet, central bank governor Nivard Cabraal said, as the sector faced a higher level of deposits withdrawals following uncertainty in financial markets. “At the moment there is no need to do that,” Governor Cabraal told reporters this week. […]
Sri Lanka Shell unit says new tax prevents further price cut
Jan 01, 2009 (LBO) – Shell Gas Lanka, the Sri Lankan unit of the Shell multinational, said a new government tax and its inability to buy locally made liquid petroleum gas is preventing it from further reducing prices. It said in a statement that the government has imposed a special tax of eight rupees per […]