Category: Industry
Sri Lanka business chamber touts virtues of Indian trade deal
Aug 07, 2008 (LBO) – A Sri Lankan business chamber has said the proposed new trade deal with India would give businesses an opportunity to penetrate the rapidly expanding Indian market and offer protection against trade barriers.The Ceylon Chamber of Commerce said it welcomes the expansion of the current Free Trade Agreement (FTA) with India […]
Domestic Help
KUALA LUMPUR, August 7, 2008 (AFP) – Malaysian women will be encouraged to train as domestic helpers, in a government programme aimed at reducing the country’s dependency on foreign workers, reports said Thursday. Women and Community Development Minister Ng Yen Yen said the course would give instruction in managing the home and caring for children […]
New Money
Aug 07, 2007 (LBO) – Sri Lanka is negotiating additional funds to re-start work on a section of a highway to the island’s south that is now suspended, but the first part is on track for completion by 2010, a top official said.The head of the island’s road development authority R W Pemasiri says negotiations […]
‘s Beijing dream
BEIJING, August 6, 2008 (AFP) – A globe-trotting steel billionaire and two former world champions have ensured India’s sportsmen will not cite lack of funds as an excuse if they fail at the Olympics.In a country where fortune and fame is reserved mainly for cricketers, Olympic hopefuls have blamed the absence of world class training […]
At Sea
Aug 06, 2008 (LBO) – A new International Labour Organisation maritime convention that Sri Lanka is to ratify will improve the safety, efficiency and working conditions of seafarers, officials said. The ILO maritime labour convention, also known as a ‘bill of rights’ for seafarers has an enforcement system that will prevent their exploitation by owners […]
Bubble Deflating?
SINGAPORE, August 5, 2008 (AFP) – World oil prices fell in Asian trade Tuesday as fears about slowing US demand outweighed the increasing likelihood of heightened tensions over Iran’s controversial nuclear programme, dealers said. The storm was not seen as a threat to oil installations but operators in the crucial US petroleum industry hub said […]
Lease Backed
Aug 05, 2008 (LBO) – Sri Lanka’s Assetline Leasing, unit of David Pieris Motor Company has raised 100 million rupees by securitizing vehicle leases, NDB Investment Bank which structured the issue said. Assetline provides leasing, hire purchase and dealer financing and has 13 branches and 8 service centres. It was incorporated in 2003 and had […]
Slow Way
Aug 05, 2008 (LBO) – The government lacks the funds to build part of an expressway in southern Sri Lanka that is scheduled to be completed by 2010, a senior government official said.The southern expressway is meant to link the capital Colombo with the town of Matara in the deep south of the island which […]
16 police killed in attack in China Muslim region: state media
BEIJING, August 4, 2008 (AFP) – Sixteen policemen in China’s Muslim-majority northwest were killed on Monday in a suspected terrorist attack, state media said, raising security fears four days before the Beijing Olympics.In one of the deadliest reported attacks in China in years, two men aimed a lorry at police officers jogging near their barracks […]
Online Books
Aug 04, 2008 (LBO) – A Sri Lankan firm has started selling books by local authors on the internet with soft copies available for download, the company, Z-World said in a statement. The company said copies of books were available in pdf, a popular document compression format developed by the software firm Adobe. Buyers could […]
Money Management
August 4, 2008 (LBO) – Sri Lankan savers, faced with the prospect of the value of their savings being eroded by record inflation, are being advised to save early in life and diversify to spread the risks. Top money management professionals say the public must adapt to financial planning while saving a part of the […]
Bank Trends
Aug 04, 2008 (LBO) – Fitch Ratings has confirmed the ‘AAA(lka)’ national long-term rating of HSBC Sri Lanka with a stable outlook. The ratings agency said in a statement that the bad loans of the bank, the island’s largest foreign bank, had increased but that its asset quality was high by Sri Lankan standards. Fitch […]