Category: Industry
Sri Lanka wins with record-breaking Mendis bowling
DHAKA, January 12, 2009 (AFP) – Ajantha Mendis became the fastest bowler to complete 50 wickets in one-day internationals as Sri Lanka crushed Zimbabwe by 130 runs in a triangular series match here Monday.The unorthodox spinner finished with 3-15 off 5.2 disciplined overs as Sri Lanka dismissed Zimbabwe for a paltry 80 after scoring 210-6. […]
Tough Market
Jan 12, 2008 (LBO) – India’s Bharti Airtel launched services in Sri Lanka with simplified tariff plans in an extremely competitive market of four existing players that has seen steep falls in prices ahead of the fifth celco’s entry. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Legal Tangle
Jan 11, 2009 (LBO) – The widening fallout on Sri Lanka’s inter bank markets of petroleum derivatives suspended by court took a new turn this week with state-run People’s Bank going to court against privately owned Commercial Bank.People’s Bank won a restraining order from Colombo Commercial High Court against Commercial Bank stopping the private bank […]
Fiery Baptism
Jan 10, 2009 (LBO) – A former chief executive of Sri Lanka’s Shell gas unit who has turned around Malaysian Airlines has termed his experience in the island as a ‘baptism of fire’. In December 2005 Idris Jala took over state-run Malaysian Airlines, in a year the firm lost 1.3 billion Malysian ringgit. In two […]
Stable Path
Jan 09, 2009 (LBO) – Sri Lanka’s Seylan Bank is now stable and is focusing on improving asset quality, and some customers who earlier withdrew deposits are now bringing them bank, officials said. Chief executive Ajita Pasqual said the bank had raised 800 million rupees and with the year-end profits, it was on its way […]
Two Generations
Jan 09, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) has begun training the children of retired workers being hired for jobs in the port but stressed productivity improvements were needed in the hugely overstaffed organisation.The SLPA said in a statement it had launched a new phase in its professional training programme called ‘Piya […]
Sri Lankan Airlines woos flyers with American Express deal
Jan 08, 2008 (LBO) – Sri Lankan Airlines said it is trying to attract passengers by offering value added services to cope with the downturn in travel despite lower fuel costs and capacity cuts. Even though airlines have had relief with the drop in oil prices this has been far outstripped with the drop in […]
Building Ships
Jan 08, 2009 (LBO) –Sri Lanka is trying to enhance its ship building capacity with the government inviting foreign investors to set up a ship yard at a new port being built in the south, a senior port official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka Nov 08 industrial exports rise; tea, rubber shipments fall
Jan 07, 2009 (LBO) – Sri Lanka’s exports in November 2008 rose 11.6 percent to 645 million dollars from a year ago, led by industrial exports, especially garments, but tea and rubber export earnings slumped, the central bank said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Wide Interest
Jan 07, 2008 (LBO) – Five potential investors have expressed interest in Sri Lanka’s Seylan Bank including two foreign buyers, after its controlling Ceylinco group said it would sell its stake, an official said. Pasqual says he expects the Ceylinco group to sell its entire holdings, which will give the new owner control of the […]
‘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 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 […]