Category: Industry
Launch Date
July 7, 2008 (LBO) – The Sri Lanka unit of India’s Bharti Airtel hopes to launch its services in the island by the end of the year, a media report said. Margins and profits of mobile operators have been coming down in recent years, with intense competition among the island’s operators. In addition to Dialog, […]
Lovable losers – the Olympic ideal or waste of space
MELBOURNE, July 6, 2008 (AFP) – The Olympic movement has a long history of loveable losers but debate rages over whether they embody the spirit of Games or are a distraction unworthy of competing alongside the world’s top athletes.Ski-jumper Eddie “the Eagle” Edwards, swimmer Eric “the Eel” Moussambani and the Jamaican bobsleigh team all caught […]
Sri Lankans tops at Asian cricket awards
KARACHI, July 6, 2008 (AFP) – Off-spinner Muttiah Muralitharan was named best Test bowler of the year and compatriot Kumar Sangakkara the best Test batsman as Sri Lankans dominated the Asian cricket awards at the weekend. Muralitharan, 36, surpassed Australian leg-spinner Shane Warne as the leading wicket-taker in Test cricket last year. He now has […]
Tech Potential
July 06, 2008 (LBO) – A team that was placed second in Australia’s Melbourne Business School’s entrepreneurship competition, led by a Sri Lankan, chose Colombo as the research location since the island has untapped potential, an official said. The team led by Chandika Jayasundara, chief executive officer of Cinergix was placed second in Australia’s entrepreneurship […]
‘s Sangakkara bats for Asian supremacy in cricket
KARACHI, July 5, 2008 (AFP) – Sri Lanka’s wicket-keeper batsman Kumar Sangakkara Saturday said Asia leads international cricket as the financial hub and custodian of the game which has pioneered unprecedented globalisation.“Asia have produced teams that have impacted the game in profound ways and cricketers who have individually shaped the way cricket is played and […]
Sri Lanka pin Cup final hopes on Mendis
KARACHI, July 5, 2008 (AFP) – Sri Lanka will look to their new spinning sensation Ajantha Mendis to defend their Asia Cup title against batting juggernauts India when the two teams meet in the final here on Sunday. The 23-year-old from Moratuwa has bowled impressively in a tournament dominated by batsmen, and after going wicketless […]
Bank Rating
July 4, 2008 (LBO) – Fitch Sri Lanka has today confirmed the BB+(lka) rating of Union Bank of Colombo (UB) saying its asset quality has improved, but more capital was needed to meet minimum requirements. UB’s existing loan book has concentrations to the export-import and wholesale trader segments through overdraft facilities which were 39 percent […]
High hopes for Asia at Beijing
SINGAPORE, July 4, 2008 (AFP) – Asian nations will without doubt bag plenty of medals at the Olympics but what is blindingly clear is that host China will outdo all its regional competitors.At the 2004 Games in Athens 15 Olympic Council of Asia (OCA) nations fought their way onto the medal table. A rampant China […]
Re-pricing
July 04, 2008 (LBO) – Sri Lanka’s Sampath Bank is re-thinking the price of a rights issue and a share placement after market prices fell below the issue price, the bank said in a stock exchange filing.Sampath shares traded at 97 rupees on Friday. Sampath said the market price of the share dropped below the […]
Bank Rating
July 3, 2008 (LBO) – Fitch Ratings Lanka has confirmed Sampath Bank’s local long-term rating of ‘AA-(lka)’ with a stable outlook. It also confirmed the ratings on the bank’s outstanding unsecured debentures of 3.3 billion rupees at ‘A+(lka)’, and the bank’s Individual and Support ratings at ‘D/E’ and ‘5’. “The ratings reflect Sampath Bank’s strong […]
Bond Deal
July 3, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC) is selling a billion rupee 5-year bond to extend the maturity of its short term borrowings, Fitch Ratings which gave the security a ‘BBB+(lka)’ rating said. The leasing company, which is rated ‘A-(lka)’ with a ‘stable’ outlook, is planning to list the subordinated, unsecured […]
Dubai starts budget airline
July 2, 2008 (LBO) – The United Arab Emirates has started a new budget airline branded ‘FlyDubai’, but the carrier would be run separately from the full-service, Emirates, the company said in a statement. “FlyDubai is a simple, yet powerful call to action,” Sheikh Ahmed Saeed Al-Maktoum who also owns Emirates Airlines, said in a […]