Category: Industry
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 […]
‘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 […]
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 […]
Six showdowns not to be missed at Beijing Olympics
PARIS, August 04, 2008 (AFP) – Six potential showdowns that should not be missed at the Aug 8-24 Beijing Olympics:- ATHLETICS Jeremy Wariner v LaShawn Merritt: The 100 metres might be the ‘blue riband’ event but the 400m is a purists dream and the battle between Wariner, the reigning Olympic champion, and his American compatriot […]
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 […]
Risky Waters
Aug 04, 2008 (LBO) – Heavy swells caused by monsoon weather are creating delays at Colombo port, officials at shipping lines calling at the Sri Lankan harbour said. The bad weather sometimes forces vessels to delay entering the port as well as leave after discharging and loading cargo, they said. “At the moment productivity has […]
Sri Lanka rattled by Indian pacemen
GALLE, August 3, 2008 (AFP) – Indian pacemen Ishant Sharma and Zaheer Khan shared three early wickets to boost India’s chances of winning the second Test against Sri Lanka here on Sunday. India earlier failed to cope with Sri Lankan spinners Muttiah Muralitharan and Ajantha Mendis as they were bowled out for 269 after resuming […]