Category: Industry
Chinese Partners
Set 24, 2008 (LBO) – HSBC Sri Lanka said it had arranged a 45 million US dollar loan backed by Sinosure, China’s export credit agency, to fund an expansion of Sri Lanka Telecom’s cellular unit Mobitel. Leisha De Silva Chandrasena, chairperson of Sri Lanka Telecom, says the expansion project will provide high speed internet, mobile […]
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 […]
Liquidity Shock
SINGAPORE, September 23, 2008 (AFP) – Crude oil traded mixed in Asia on Tuesday after the benchmark New York futures contract soared more than 16 dollars for its biggest one-day gain ever. The massive price surge stemmed partly from hopes that a US plan to buy tainted mortgage-related assets will save the global economy from […]
Sri Lanka aviation industry targets young people
Sept 23, 2008 (LBO) – Sri Lanka’s aviation industry, including the Air Force, civil aviation authorities and flying schools, are putting themselves on display in Colombo this week vying for the attention of young people, organizers of an aero exhibition said. The exhibition will also provide a chance for young people to interact with professionals […]
Digital Revenues
Sept 23, 2008 (LBO) – Sri Lanka Telecom (SLT), the island’s largest fixed access provider, has launched Internet Protocol Television (IPTV) with a target of reaching 7,000 customers by year end, officials said. Weerasuriya is also talking with education organizations who want to conduct virtual or online classrooms through IPTV with interactive capabilities, which would […]
Fast Links
Sept 23, 2008 (LBO) – Sri Lanka is to award a contract to provide broadband links to 500 rural schools by end 2008, expanding a network in which 1,100 public schools are already connected, officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Anura Dissanayake, director […]
Sri Lanka August tourist arrivals fall, winter bookings better: official
Sept 23, 2008 (LBO) – Tourist arrivals in to Sri Lanka in August fell sharply from a year ago but bookings for the winter season look promising for hoteliers, tourism chief Renton de Alwis said. Sri Lankan hoteliers have said the industry has been affected by bad publicity in tourism generating markets caused by fighting […]
Circular Strategy
WASHINGTON, September 23, 2008 (AFP) – The conversion of Goldman Sachs and Morgan Stanley to regulated commercial banks marks the end of an era of independent Wall Street investment firms and a separation in the industry since the 1930s. The change, announced late Sunday by the Federal Reserve, closes the door on the last two […]
EU says it does not want Sri Lanka to lose GSP+ trade deal
Sept 22, 2008 (LBO) – A senior European Union official said it does not want Sri Lanka to lose GSP+ trade concessions but the island must meet eligibility criteria to continue duty free market access to Europe under the deal. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
High Risk
Sept 22, 2008 (LBO) – Police are trying to track down a Sri Lankan businessman who has fled abroad after duping thousands of people into depositing money with his firm by promising high returns. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Thousands of distraught depositors have […]
Sri Lanka selections for Canada Cup hit by selection row
September 21, 2008 (AFP) – A selection dispute has hit the announcement of the Sri Lankan national team for the 20Twenty competition in Canada, officials said Sunday. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 Sports Minister Gamini Lokuge told AFP he was considering a […]