Category: Industry
Budget Broadband
Oct 15, 2008 (LBO) – Sri Lanka’s celcos are looking at ways to sell broadband services in small chunks, to reach cost-conscious customers, who do not need long hours of continuous connectivity, officials said. Sri Lanka’s mobile penetration is now 44 percent and the island’s telecom regulator says the country would hit 50 percent by […]
Good Cheques
Oct 15, 2008 (LBO) – Sri Lanka’s Sampath Bank has started a new current account facility for longstanding customers in a bid to discourage cheque returns and boost the currency of the bank’s cheques, officials said. “We want people to recognize that these cheques are as good as cash,” Sampath Bank chief executive designate Harris […]
Terminal Trends
Oct 15, 2008 (LBO) – The Maersk group, which runs the world’s biggest shipping line, may be interested in investing in a new container terminal in the planned new deep-draft port next to Colombo, a company official said.“The last time APMT did not participate because it was involved in too many projects and its resources […]
‘s old man Jayasuriya, newboy Mendis lead team to victory
TORONTO, October 13, 2008 (AFP) – Veteran Sanath Jayasuriya, with his trademark big-hitting, and newboy Ajantha Mendis, delving into his bag of bewildering spin tricks, led Sri Lanka to a five-wicket victory over Pakistan in the Canada Twenty20 final here on Monday.Chasing 133 to win, Sri Lanka registered their first win over Pakistan in the […]
Sri Lanka apparel industry says it helped uplift village economy
Oct 14, 2008 (LBO) – Sri Lanka’s apparel industry is aiming to increase export revenue despite tough market conditions, saying the spread of factories to rural areas has significantly raised living standards in villages.“Without this industry poverty would have been much higher,” said Ashraff Omar, a top exporter and member of the Joint Apparel Association […]
Executive Skills
Oct 14, 2008 (LBO) – Sri Lanka’s first-ever reality television game show, Path Breakers, is to modify its format and concept this year to accommodate 50 school goers to hone their corporate skills for the future. The show has loosened the entry criteria, dropping the minimum age of entry to 15 years to give the […]
Policy Track
Oct 14, 2008 (LBO) – Sri Lana’s government plans to deregulate railway freight rates and invite private sector participation to increase movement of goods by rail, according to a new transport policy unveiled recently.“Railway freight tariffs will be de-regulated and the Sri Lanka Railways will be permitted to determine tariffs competitively to attract freight transport […]
Sri Lanka rubber prices fall amid collapsing commodity bubble
Oct 13, 2008 (LBO) – A collapsing global commodity bubble, falling demand from industrialised countries and lower oil prices have caused Sri Lankan rubber prices to fall sharply in recent weeks, industry officials said. This has resulted in lower demand for products like solid tyres made by the top rubber buyers in the island, Loadstar […]
Sri Lanka asks EU to extend GSP Plus trade deal
Oct 13, 2008 (LBO) – Sri Lanka’s government has formally applied to the European Union to extend the GSP Plus trade scheme under which the island’s exports gain duty free access, an official said.S Ranugge, secretary to the external trade ministry, said the government expects to know by December 15 whether or not the GSP […]
More Liquidity
Oct 13, 2008 (LBO) – Sri Lanka’s central bank has cut the reserve requirement of commercial banks from 10 percent to 9.25 percent, and further relaxed access to the discount window. “This step has been taken in order to inject more liquidity to the domestic financial market so as to enable the market to effectively […]
Bad Moods
SINGAPORE, October 12, 2008 (AFP) – As the global financial storm blows fear through Asia’s stock markets, Filipino maid Christy Arciaga is jittery — even though she does not own any shares.Her businessman employer has lately become more irritable as he has watched his investments being swallowed in a sea of red ink, and the […]
Sri Lanka elephant gathering wows visitors
MINNERIYA, Sri Lanka, (AFP) – As evening falls, a female elephant and her pink-skinned baby emerge from the jungle for a leafy snack around an ancient artificial lake in Sri Lanka.They are just two of hundreds of wild elephants that gather each evening along the banks of the Minneriya reservoir for food, water, shelter — […]