Category: Industry
Not Correct
HONG KONG, June 18, 2008 (AFP) – China has no plans to try and dominate the shipping lanes of the Indian Ocean, its ambassador to India said in Hong Kong Wednesday. “We don’t have such an intention to establish a chain to encircle India,” said ambassador Zhang Yan at a lunch held by the Asia […]
Cricket Online
June 18, 2008 (LBO) – Sri Lanka’s national cricket team captain Mahela Jayawardena has gone online with information technology company Cryptodyne to communicate with the island’s youth and raise funds for a cancer hospital project. “The most important thing for me was to communicate with younger kids,” Jayawardena told LBO at the inauguration of his […]
Ocean Outlook
June 18, 2008 (LBO) – Sri Lanka’s Chamber of Construction Industry is pressing for the setting up of an institutional and legal framework to exploit the island’s offshore resources. “It appears that our economic survival will depend on our ability to exploit our offshore resources,” said Dakshitha Thalgodapitiya, chief executive of the Chamber of Construction […]
China begins sensitive Xinjiang torch relay leg
URUMQI, June 17, 2008 (AFP) – China Tuesday kicked off the Olympic torch relay’s sensitive leg through Xinjiang, a largely Muslim western region where Beijing acknowledges there are ethnic tensions. Under sunny skies, the regional capital Urumqi was largely shut down with police checkpoints restricting movement throughout the normally bustling city as the relay got […]
Sri Lanka power utility engineers seek ouster of chairman
June 17, 2008 (LBO) – Sri Lanka powerful electricity engineers’ union has started a work-to-rule campaign ahead of a full blown trade union action demanding the ouster of the state-run utility’s chairman, a union official said. The Ceylon Electricity Board Engineers’ Union (CEBEU) had decided to start the work-to-rule campaign at a special general meeting […]
Sri Lanka Janashakthi Insurance gets Rs800mn in subscriptions
June 17, 2008 (LBO) – An initial public offer of Janashakthi Insurance has so far received 5,500 applications worth 800 million rupees, an official said after closing the issue on the opening day yesterday. Ceylinco Insurance, a listed insurance firm, is hoping to raise 1.4 billion rupees through a follow on offer of non-voting shares […]
Leasing Funds
June 17, 2008 (LBO) – Sri Lanka’s People’s Leasing Company (PLC), a unit of state-run People’s Bank, will sell a 200 million rupee 12-month debenture, Fitch Ratings, which gave the issue an ”F1(lka)’ rating, said. A ‘F1(lka)’ national short-term rating indicates the strongest capacity for timely payment of financial commitments relative to other issuers or […]
‘ review system
NEW DELHI, June 16, 2008 (AFP) – An experimental rule allowing players to seek a second opinion on umpiring decisions will be put on trial during India’s upcoming series in Sri Lanka, officials said on Monday. The rule says a batsman or fielding captain may request the review of any decision taken by on-field umpires […]
Sri Lanka exports up on commodity boom
June 16, 2008 (LBO) – Sri Lanka’s exports grew 14.7 percent helped by strong prices for tea, while apparel exports grew by a slow 5.3 percent and the trade deficit expanded 92 percent on higher oil and capital goods imports, official data showed. The Central Bank said April export earnings increased 14.7 percent to 610 […]
Good Behaviour
June 16, 2008 (LBO) – Sri Lanka’s Central Bank said it has prepared a draft code of corporate governance for registered finance companies, based on the directions issued to licensed banks, that will come into effect from January 2009. It said in a statement that the draft took into consideration the views expressed by the […]
Harbour View
June 16, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is getting ready to make commercial use of its vast landholdings around the harbours in the island, some of which are now considered prime property. “We’ve structured a framework agreement by which we can use the land for public-private partnership projects,” SLPA chairman Saliya […]
Cash strapped Sri Lanka Cricket sinks deeper into debt: report
June 15, 2008 (LBO) – Sri Lanka Cricket, the island’s richest sporting body, is currently surviving on a 7.5 million dollar overdraft, a media report said. The triangular series had been due to take place in August 2006 between the hosts, South Africa and India. India stayed to play Sri Lanka, but rain disrupted the […]