Category: Industry
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 […]
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 […]
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 […]
Re-branded Sri Lanka Hemas tour unit eyes Maldives after Diethelm tie
Sept 01, 2008 (LBO) – Sri Lanka’s Hemas group says its tour operating unit will be more active in the Maldives after a tie-up with Zurich based Diethelm Travel Group (DTH). Hemtours says it has been in business for more than 30 years. DTH is a subsidiary of Diethelm Keller Holdings, headquartered in Zurich, a […]
Changing Guard
Sept 01, 2008 (LBO) – A former senior general manager of Commercial Bank of Ceylon, Harris Premaratne will head Sampath Bank, with the retirement of the current chief executive, the firm said in a stock exchange filing. Current chief executive Anil Amarasuriya will continue till December 2008 with Premaratne assuming duties as chief executive officer […]
Land Use
Sept 01, 2008 (LBO) – Colombo port could reclaim land in shallow waters near the Sri Lankan capital city for industry and move containers by rail to avoid congestion as it expands the harbour, an expert says.The government has started building or plans several new roads to connect Colombo to other big towns as well […]
‘s EU GSP benefits could to be renewed: trade law expert
Sept 1, 2008 (LBO) – The European Union (EU) could renew Sri Lanka’s GSP+ trade concessions but then put pressure on the government to improve its human rights record, a US trade law expert said Monday. Access to European markets is also important at a time when exports to the US are slowing down. “I’d […]