Category: Industry
Smoking Out
June 14, 2008 (LBO) – Laugfs Eco Sri, a unit of Sri Lanka’s Laugfs gas distributor, plans to launch a sample testing centre next month to test vehicle exhaust emissions ahead of the imposition of new emission standards. The government has said vehicles that do not meet proposed exhaust emission standards will not be given […]
Jumbo Release
UDAWALAWE, June 14, 2008 (AFP) – Sri Lanka on Saturday released eight orphaned baby elephants into the jungle after rescuing them from near certain death, wildlife officials said.Many of those elephants cared for by the wildlife officials have been injured after being struck by trains or shot by farmers. Others are rescued from pits into […]
Better Rates
June 13, 2008 (LBO) – Sri Lanka’s Sampath Bank is offering a rate of 12.5 percent a year for savings deposits which maintain a balance of more than 50,000 rupees, the bank said. The savings deposit scheme branded ‘Hit Saver’ gives an annual effective rate of 13.24 percent, the bank said in a statement Friday. […]
From Johnson to Munich, scandal and tragedy has marked Olympics
PARIS, June 13, 2008 (AFP) – Planning and staging an Olympics has never been an easy task and the chances are that Beijing 2008 will have its share of problems before it all ends for another four years.However it will have to go some way to surpass several previous Olympics. From the humiliating spectacle of […]
Sri Lanka insurance IPO gets foreign interest
June 13, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance says there is strong foreign interest centered around the Middle Eastern region for their 400 million rupee initial public offering that is opening on Monday. In the year to December 2007, the group posted 525 million rupees in profits and reported revenues of 5.2 billion rupees. […]
Sri Lanka tourist arrivals up 18.5-pct in May
June 13, 2008 (LBO) – Tourist arrivals to Sri Lanka rose a steep 18.5 percent in May against a sharp fall last year but cumulative figures were little changed amidst bad publicity from an internal conflict, the latest official data showed. The number of arrivals increased by 1.2 percent to 196,403 for the first five […]
‘s Dialog celco links with AeroMobile
June 13, 2008 (LBO) – Sri Lankan celco Dialog, a unit of Telekom Malaysia said it had partnered with AeroMobile to provide in-flight mobile communications, becoming the first in the region to do so. “Dialog Telekom has achieved the distinction of being the first operator in the region to partner with AeroMobile..,” the company said […]
Undersea Links
June 12, 2008 (LBO) – Lanka Bell, a Sri Lankan wireless fixed access firm, said its link to a high speed private undersea fibre optic cable operated by India’s Reliance group had gone live, enabling it to offer unrestricted broadband services. The company said in a statement it had already set up the infrastructure for […]
Rail Loan
June 12, 2008 (LBO) – Sri Lanka’s cabinet of ministers had given the nod to borrow 100 million US dollars from India to upgrade a part of the island’s railway system, a senior government minister said. The southern track was also torn up by the 2004 December tsunami. It was quickly repaired by the cash-strapped […]
‘s torch relay becomes a mystery
BEIJING, June 11, 2008 (AFP) – China’s Olympic torch relay has become a mystery tour, with organisers refusing on Wednesday to disclose the dates of a planned journey though Tibet and other potentially sensitive legs.The torch’s trip through Tibet and other regions of western China where recent deadly unrest by Tibetans occurred was originally scheduled […]
Sri Lanka Allianz unit offers title insurance
June 11, 2008 (PBO) “ The Sri Lanka unit of Allianz Insurance said Wednesday it has begun offering title insurance cover for property transactions by individuals and the corporate sector. “Property transactions in Sri Lanka can now have a title insurance cover to fall back on, in case something is wrong with the property’s title,” […]
‘ah Leasing
June 11, 2008 (LBO) – Lanka Orix Leasing Company (LOLC), which introduced Islamic financing in Sri Lanka, says it wants to expand its portfolio to one billion rupees in one year, with growth so far relying on word-of-mouth publicity. “We are on a growth trend and we feel that the turbulence that we are seeing […]