Category: Industry
Sri Lanka squad for Canada T20 title
COLOMBO, September 27, 2008 (AFP) – Sri Lanka Saturday named a 15-member squad Saturday for the inaugural four-nation Twenty20 tournament to be played in Toronto next month.The squad does not include a specialist wicket-keeper, with Tillakaratne Dilshan standing in for regular keeper Kumar Sangakkara, who recently underwent finger surgery in Australia and will miss the […]
Hunky Dory
Sept 27, 2008 (LBO) – Sri Lanka’s central bank has disputed as ‘misleading’ a statement by a rating agency that the country’s macro-economic conditions were weak, amidst rising bad loans in banks, the highest inflation in recent history and falling profits of companies. Government revenue had increased 24.2 percent to 312.5 billion rupees in the […]
Ship Fuel
Sept 27, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) said Friday that it had started bunkering operations in Colombo port through a newly established subsidiary. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The JCT Ltd. Oil Bank, a fully owned subsidiary company of the […]
Safe Bet
Sept 26, 2008 (LBO) – The United States has guaranteed 540 million rupees of conflict area credit in Sri Lanka by a domestic leasing firm to bring finance into the island’s eastern province which had seen intense fighting until recently.The USAID guarantee will be effective for three years from October 1, 2008, to September 30, […]
Reduced Sentence
Sept 26, 2008 (LBO) – Despite Sri Lanka™s high primary school enrollment rate, large numbers drop out owing to weaknesses in the system, with many taking to crime, organizers of an education exhibition said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The island’s primary school net […]
Another One
WASHINGTON, September 26, 2008 (AFP) – US bank JPMorgan Chase took over struggling Washington Mutual for 1.9 billion dollars, the US Federal Deposit Insurance Agency (FDIC) announced late Thursday.The acquisition creates the largest US depository institution with more than 900 billion dollars in customer deposits, the FDIC said in a statement. In the deal, JPMorgan […]
Rural Finance
Sept 26, 2008 (LBO) – Fitch Ratings Lanka said it is maintaining the Rating Watch on the National Long-term ratings of six Sri Lankan state-owned Regional Development Banks (RDBs) which are being merged. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The required amendments to the RDB […]
Savings Promotion
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is starting a three-month savings drive from October 01, to coincide with World Thrift Day, officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The bank was also offering gifts ranging from bicycles and […]
Rising Risk
Sept 25, 2008 (LBO) – Sri Lanka’s finance companies, especially smaller ones, could face difficulties in raising funds to maintain liquidity if the present high inflation and interest rate scenario continues, Fitch Ratings has warned. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The rating agency said […]
Bunker Business
Sept 24, 2008 (LBO) – Ceylon Shipping Corporation (CSC) is considering acquiring its own ship fuel supply vessel to sell bunkers in Colombo port through its joint venture with a Greek shipping family firm. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “We have started doing bunkering […]
Weight Watching
Sept 24, 2008 (LBO) – Sri Lanka’s cooking gas retailers will have to weigh gas cylinders on a certified on-site weighing machine in the presence of customers to combat the sale of underweight cylinders, officials said. If such dealers are not allowed to sell gas, rural customers in particular may face immense difficulties by being […]
Sri Lanka opposes EU human rights probe to renew GSP+ benefits
Sept 24, 2008 (LBO) – Sri Lanka has opposed a European Union probe into human rights in the island to see if it meets conditions required to renew a trade deal giving duty free access to European markets. Bogollagama sought the meeting with Ferrero-Waldner after learning of European Commission plans to conduct an investigation on […]