Category: Industry
‘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 […]
Lure of gold leaves Olympics prone to doping cheats
LONDON, July 17, 2008 (AFP) – The Beijing Olympics will see the biggest anti-doping effort in history but the omens for a drug-free Games are not good.Alongside steroids and the blood-booster EPO, testers have promised developments in tracing substances such as human growth hormone, which are undetectable with standard testing methods. The chairman of the […]
Sri Lankan industrialists, professionals oppose new trade pact with India
July 17, 2008 (LBO) – Sri Lankan industrialists and professionals have appealed to the government not to sign a new trade pact with neighbouring India, due to fears that their market shares would be cut without reciprocal access being given to the larger country. “We have to be extremely cautious when signing an agreement of […]
Cheap Talk
July 16, 2008 (AFP) – South Asian leaders meeting in Sri Lanka next month should agree to slash telecom tariffs in their countries to promote inter-regional trade, a policy think-tank said Wednesday.Regional policy group LIRNEasia said reducing call costs between members of the South Asian Association for Regional Cooperation (SAARC) would encourage trade and improve […]
My Phone
July 16, 2008 (LBO) – Sri Lanka’s Tigo, a unit of Millicom International Cellular is issuing plastic-card ownership certificate in response to anti-terror rules, which can be piggy-backed to give additional benefits to customers, an official said. The new regulations introduced by the Telecommunications Regulatory Commission of Sri Lanka require mobile customers to give on […]
Peninsular 3G
July 16, 2008 (LBO) – Sri Lanka’s Dialog Telekom, a unit of Telekom Malaysia, said it had launched third generation (3G) mobile services allowing video calling in the island’s northern Jaffna peninsular. Dialog’s video calling comes with a conferencing facility that allows users in six different locations to talk. Dialog says is 3G network now […]
Sri Lanka scrambles to stop Japan travel warning
July 16, 2008 (LBO) – Sri Lanka is scrambling to head off an imminent travel warning from Japan, in a bid to save the struggling tourism industry from a new blow, a top official said.Tourism secretary George Michael said Sri Lanka has learned of an imminent travel warning from Japan and tourism minister Milinda Moragoda […]
Harbour Moves
July 16, 2008 (LBO) – Colombo port plans to order more quay-side gantry cranes, mobile cranes and tractors to boost productivity and cope with increasing cargo flows, a senior official said.Sri Lanka Ports Authority (SLPA) chairman Saliya Wickramasuriya said the new equipment acquisition was part of the ports efforts to improve efficiency and the port’s […]