Category: Industry
Sri Lanka demographic changes excites insurer
Sept 04, 2008 (LBO) – Demographic changes in emerging Asian nations like Sri Lanka and rising prosperity is presenting new growth opportunities for insurers to grow and introduce increasingly sophisticated products, a top regional insurance official said. But India and China are the big growth areas of the region. In the first half of 2008, […]
Migrant Workers
KUWAIT CITY, September 04, 2008 (AFP) – Kuwait’s parliament is to hold an emergency session on September 10 to debate violent protests by foreign workers over pay and living conditions, speaker Jassem al-Khorafi said.Khorafi said he received a request signed by 35 MPs in the 50-member parliament to recall the house from its summer recess […]
Supply Breakdown
Sept 04, 2008 (LBO) – Bunker oil stocks at Colombo are running low with a pending hand-over of a tank farm by the largest supplier to the port, and fresh stocks only due in mid-September, shipping officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Bunker Business
Sept 03, 2008 (LBO) – The Sri Lanka Ports Authority plans to take over the bunker fuel storage tank facility that belonged to John Keells Holdings (JKH) subsidiary Lanka Marine Services by September 10. Wickramasuriya said the port will run the tank farm and make it available for use by all licensed bunker suppliers. To […]
Tax Dispute
Sept 03, 2008 (LBO) – Sri Lankan ship owners say a recent Supreme Court decision has resolved a long-standing dispute they have had with customs over import tax on ships. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 According to the recent ruling, ships cannot be considered […]
Tactical Release
SINGAPORE, September 3, 2008 (AFP) – Oil prices fell in Asian trade Wednesday as the US government announced the release of oil from its strategic reserve to help with recovery efforts after Hurricane Gustav. New York’s main contract, light sweet crude for October delivery, dropped 34 cents to 109.37 dollars a barrel, while Brent North […]
LBR-LBO CIO forum
Sept 03, 2008 (LBO) – Retaining skilled information technology professionals is critical for Sri Lanka’s corporate sector when planning business continuity and disaster recovery, according to experts in the IT field. “IT is the backbone of retail systems.Hardware, technology or environmental issues would be a huge risk and would affect the continuity of the business,” […]
Strong Region
Sept 03, 2008 (LBO) – Asia continued to do well amidst global financial turmoil and Sri Lanka and the Maldives are set to perform well, despite an expected slowdown, a top HSBC official said. In Sri Lanka the bank has also been providing aggressively and has also become more cautious in its credit card business, […]
Finance Rating
Sept 03, 2008 (LBO) – Sri Lanka’s RAM Ratings says it has confirmed the ‘BBB’ national long term rating of Alliance Finance with a ‘stable’ outlook and also confirmed its ‘P2’ short term rating. “The ratings are supported by the company’s adequate asset quality and the resultant augmentation in its capital adequacy,” RAM Ratings said […]
Google Browser
WASHINGTON, September 2, 2008 (AFP) – Google plans to launch Tuesday its own Internet browser, opening up a new challenge in cyberspace to Microsoft and its dominant Internet Explorer. The California-based Web search leader said the new browser, called Google Chrome, would “add value for users and, at the same time, help drive innovation on […]
Leasing Risks
Sept 02, 2008 (LBO) – Fitch Ratings says the underlying risks of Sri Lanka’s specialised leasing company sector have increased owing to high inflation and rising interest rates. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 While the larger firms are relatively more resilient to a continued […]
Diaspora Business
Sept 02, 2008 (LBO) – Sri Lanka’s HSBC will chase expatriate Sri Lankan customers through its overseas network banking on newly liberalized foreign deposit rules, a top official said.“We want to attract Sri Lanka diaspora in countries where we have branches and get deposits and remittances,” Nick Nicolaou, head of HSBC in Sri Lanka and […]