Category: Industry
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 […]
China on brink of becoming dominant sporting power
BEIJING, July 28, 2008 (AFP) – China is on the brink of becoming the most dominant sporting power in the world, with expectations running high that they will bounce the United States from the top of the Olympic medal table.At Athens four years ago, China finished with 32 gold, 17 silver and 14 bronze medals […]
Sri Lanka shifts site of planned second international airport
July 28, 2008 (LBO) – Sri Lanka’s ports and aviation ministry has stopped work on a controversial new international airport in the island’s south and decided to shift it to a new location. Sri Lanka has only one international airport at present and needs a second one under international air safety rules so flights can […]
Combined Entity
July 28, 2008 LBO) – Sri Lanka’s finance ministry plans to bring a proposed new law to amalgamate six regional development banks (RDBs) to parliament early next month, a senior official says. The main stake holders of the banks last week gave the green light to the proposed act which is now being examined by […]
‘s Mendis says he owes it to Murali
July 27, 2008 (AFP) – Sri Lankan spinner Ajantha Mendis said that team-mate Muttiah Muralitharan played a key role in his success against India in his debut Test here. Mendis took eight wickets in the match as Sri Lanka thrashed India by an innings and 239 runs to gain a 1-0 lead in the three-Test […]