Category: Industry
True Olympic spirit found in those who come last
PARIS, July 20, 2008 (AFP) – True Olympic spirit is often found away from gold medallists with their agents and sponsorship deals — it is found in its purest sense in those that come last.Swimmer Eric “The Eel” Moussambani and Paula Barila Bolopa may have made a splash in Sydney but only the best memories […]
Call Synergy
July 20, 2008 (LBO) – Sri Lanka Telecom’s mobile subsidiary wants its licensing conditions relaxed so it could combine phone tariffs with its fixed line parent, its chief executive said. This will enable the firm to achieve higher scale advantages to compete in a market where new technology and increased competition are pushing down call […]
Restructuring
July 20, 2008 (LBO) – Sri Lanka’s state radio will shed up to 400 excess employees by giving them a million rupee severance package senior officials said, while the broadcaster was reeling under mounting losses.At the moment it has 1,068 employees and most of the excess is in the transport and security divisions, officials said. […]
Premium Banking
July 20, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) has launched priority banking services for premium customers with higher interest rates and benefits, officials said. Dedicated agents will be present in NTB branches to serve Inner Circle members, Fernando says. The priority service is available all year round in NTB branches of Colombo, […]
IOC will crackdown on drug testing – president Rogge
LAUSANNE, July 20, 2008 (AFP) – International Olympic Committee (IOC) boss Jacques Rogge has promised a drug-testing crackdown at the Beijing Games in a bid to banish memories of cheat Marion Jones. “We had 26 positive tests in Athens, so classic tests work.But if we look at statistics most athletes are tested out of competition.” […]
‘s Kandamby shines against touring India
July 18, 2008 (AFP) – Test hopeful Thilina Kandamby top-scored with 84 to help the Sri Lanka Board XI make 224 against a visiting India on the opening day of their three-day tour match here on Friday.The Sri Lankans were tottering at 82-4 before Kandamby and Chamara Silva rescued them with a 100-run fifth-wicket partnership. […]
USA set to defend Olympic medal supremacy in Beijing
WASHINGTON, July 19, 2008 (AFP) – Americans will attempt to lead the overall medal table for the fourth Summer Olympics in a row next month in Beijing, but hosts China and Russia will challenge for supremacy in golds and total medals.US teams had the greatest medal haul for a record fourth Games in a row […]
‘s half-ton
July 19, 2008 (AFP) – Sachin Tendulkar marked his return from injury with a well-made 69 but the rest of the Indian batsmen struggled in a three-day tour match against a Sri Lanka Board XI here on Saturday. This is the only warm-up game between the sides ahead of the start of the three-Test series […]
Capital Controls
July 19, 2008 (LBO) – Sri Lankan Central Bank Governor Ajith Nivard Cabraal has said its exchange control department had streamlined approvals for overseas investments by local firms.The government wants to encourage big Sri Lankan companies to grow bigger and invest abroad, as a few have already done, he said. “Now the exchange control department […]
Local Lube
July 18, 2008 (LBO) – Sri Lanka’s diversified Laugfs Holdings has introduced lubricants to the local market, working capture 30 percent share in two years, top officials said. The lubricants were launched through the subsidiary of Laugfs Holdings, Laugfs Lubricants Limited. “As a fully Sri Lankan company, we are proud to enter a market which […]
Foreign Tap
July 18, 2008 (LBO) – Sri Lanka’s state-run People’s Bank has started a new foreign exchange deposit scheme after the island’s central bank relaxed rules allowing domestic banking units to accept deposits from abroad. “The aim here is to open up investment opportunities to non residents interested in investing in Sri Lanka, thereby gaining value […]
Downgraded
July 18, 2008 (LBO) – Fitch Ratings Sri Lanka has downgraded Seylan Bank’s national long term credit rating by one notch to ‘BBB+(lka)’ and its subordinated debentures also by a notch to ‘BBB(lka)’. Both ratings are still in the investment grade category. At the new level, Fitch Ratings said the outlook was ‘Stable’. Fitch gave […]