Category: Industry
Bank Trends
July 31, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) said June quarter net profit rose 54 percent to 141 million rupees from a year ago, with a sharp increase in specific provisioning for bad loans. Gross income went up 34 percent to nearly 3.3 billion rupees, the bank said in interim results released […]
Minnows dream of hogging limelight
SINGAPORE, July 31, 2008 (AFP) – Powerhouse nations like China, the United States and Russia might grab all the Olympic gold medal attention but the world’s sporting minnows plan to grab at least some of the limelight. While some nations might whinge about winning dozens of medals, others will be glad of just one — […]
New media turn Beijing into e-Games
HONG KONG, July 30, 2008 (AFP) – When Coroebus of Elis won the first Olympic sprint in 776 BC, the result was scratched on to parchment and read out in market places in the following days and weeks.This year, the Olympic 100 metres champion will be announced immediately, to billions worldwide, via a click of […]
‘s backlash in second Test
GALLE, July 30, 2008 (AFP) – Sri Lanka skipper Mahela Jayawardene says his team is well-prepared for India’s expected fight-back in the second Test starting here on Thursday.The hosts outplayed India in all departments of the game in the opening match of the three-Test series in Colombo, winning by an innings and 239 runs on […]
Sri Lanka Allianz unit enters life insurance market
July 30, 2008 (LBO) – Allianz Lanka, the Sri Lankan unit of Germany’s Allianz SE, said it has got the license to enter the largely untapped life insurance market where it sees much potential. The local subsidiary of Allianz has been increasing customers in both the corporate as well as retail market. The company recently […]
Sri Lanka suspends internal flights for security reasons
July 30, 2008 (LBO) – Sri Lankan authorities plan to suspend domestic flights to northern Jaffna later this week for the duration of a summit of south Asian leaders in Colombo, a senior government official said.Civil Aviation Authority director general Parakrama Dissanayake said flights by domestic carriers between Colombo and Jaffna have been suspended during […]
Medical Perks
July 30, 2008 (LBO) – Sri Lanka’s health minister’s appointment to the World Health Organisation (WHO) could help channel more foreign funds to develop the health sector in the island, the association of private medical practitioners said. Nimal Siripala de Silva, minister of healthcare and nutrition, was appointed as the chairman of the WHO executive […]
Under-achievers India hope to turn the corner
NEW DELHI, July 29, 2008 (AFP) – India travel to the Olympics without their trademark field hockey team, but determined to prove they will not compete at Beijing just to make up the numbers. The hockey stars, India’s flag-bearers at past Olympics despite winning the last of their eight gold medals way back in 1980, […]
”s den
GALLE, July 29, 2008 (AFP) – India’s batting reputation will be at stake when they attempt to solve Sri Lanka’s spin puzzle in the second Test starting here on Thursday.The tourists collapsed twice in the opening match of the three-Test series in Colombo, losing by an innings and 239 runs on Saturday. Sri Lankan spinners […]
Steady State
July 29, 2008 (LBO) – Fitch Sri Lanka has confirmed the ‘AAA(lka)’ long term rating of state-run National Savings Bank with a stable outlook but has said low interest rates offered by the bank are shrinking its market share. Though the bank has been making profits in the last few years by keeping deposit rates […]
Higher Skills
July 29, 2008 (LBO) – The Cranfield School of Management in the UK has offered a Master of Business Administration scholarship to any member of Sri Lanka’s three leading accountancy bodies.Cranfield MBA alumni from Sri Lanka include Hatton National Bank managing director Rajendra Theagarajah, senior vice president of WNS Arul Sivagananathan and Stretchline group financial […]
Better Travel
July 29, 2008 (LBO) – An efficient public transport system will help Sri Lanka reduce its fuel bill and curb environmental pollution, a top official from the National Transport Commission (NTC) said. Nearly 70 percent of the total fuel consumption per year is by private passenger vehicles which carry less than 30 percent of the […]