Category: Industry
Soft Challenge
May 22, 2008 (LBO) – Search engine giant Google has accepted 24 student projects from Sri Lanka’s University of Moratuwa, for an open-source software development competition, the highest from any university in the world, officials said. The universities 24 acceptances for the Google Summer of Code (GSoC) programme, beat 10 projects from Wroclaw University of […]
Knowledge Essay
May 22, 2008 (LBO) – The deadline for an essay on the knowledge economy targeting Sri Lankan students in higher education has been extended till June 05, the World Bank said. The competition was launched in partnership with LIRNEasia, and the Point Pedro Institute of Development in March 2008. It coincided with the a recent […]
Sri Lankan Airlines produces technicians and engineers
May 21, 2008 (LBO) – Sri Lankan Airlines technical training has completed the training of over 40 foreign and local students in aircraft engineering and maintenance, the airline said. The technician’s course has 1,200 hours of theory and another 1,200 hours of practical training in workshops, base maintenance and line maintenance. A batch of students […]
Higher Rate
May 23, 2008 (LBO) – Sri Lanka’s Commercial Bank says it will pay 12 percent interest a year on a savings account, if it is opened with a minimum balance of 50,000 rupees. Other than maintaining a minimum balance of 50,000 rupees, the account, branded ‘Commercial Bank Super Saver’ has no restrictions on the number […]
‘s southern tourism industry fights hard times
May 20, 2008 (LBO) – The tourism industry in southern Sri Lanka, badly hit by recent unrest, is fighting back by highlighting its best attractions and drawing local visitors, but they also want authorities to lobby harder against foreign travel advisories. Hotelier are desperate to revive an industry that offers plenty of attractions for visitors […]
Afghanistan take first step towards cricket World Cup
KARACHI, May 19, 2008 (AFP) – Burgeoning cricket talent Afghanistan are confident as they prepare for the first step towards the 2011 World Cup, captain Norooz Khan Mangal was quoted as saying Monday. “The tour to Peshawar was a good one in which we won 13 out of 14 40-overs-a-side matches. In our domestic cricket, […]
Good Ideas
May 19, 2008 (LBO) – Two small charities in Sri Lanka have won 40,000 US dollars in grants to work on reducing discrimination and stigma associated with AIDS and HIV, the World Bank said. The grants came from the South Asia Development Marketplace initiative where 26 proposals from the region won grants from a million […]
Inside Sri Lanka M&”’ factory
May 18, 2008 (LBO) – Built on the naturally sloping ground inside the 180-acre Thulhiriya Fabric Park, north of the Sri Lankan capital Colombo, surrounded by patches of greenery and pools of water stands a building. At first glance, the MAS group’s new lingerie factory that manufactures exclusively for Marks and Spencer looks like any […]
Tree Walkers
WASHINGTON, 2008 (AFP) – Scientists have long thought that walking is easier than climbing for primates — explaining why we humans ended up on our feet all the time.But researchers at two US universities have found that, at least for smaller primates like squirrel monkeys and lemurs, climbing is no more difficult and energy-consuming than […]
Takeover Watch
May 17, 2008 (LBO) – Fitch Sri Lanka has placed the ‘A-(lka)’ rated Commercial Leasing Company on credit watch after Lanka Orix Leasing Company (LOLC) gained 67 percent control of the firm. CLC was started in 1988 by Commercial Bank of Ceylon PLC, Chemanex Limited, and Singer (Sri Lanka) Limited (‘A+(lka)’/Negative). It has a network […]
Mortgage Strength
May 16, 2008 (LBO) – A mortgage backed security issued by Sri Lanka’s HDFC Bank retained its enhanced credit, three notches higher than the issuer, as Fitch Ratings Lanka confirmed an ‘AA-(lka)’ rating on the securities. However, loans overdue for 6-months increased marginally to 2.4 percent from 2.0 percent and defaulted loans over 12 months […]
Sri Lanka Allianz unit offers directors and officers liability insurance
May 15, 2008 (LBO) – Allianz Insurance Lanka has launched a business unit to provide directors and officers (D&O) liability insurance to Sri Lanka’s private and public corporates. The insured are indemnified for defense costs and any legal claims, according to a statement by the company, a fully owned subsidiary of Munich headquartered conglomerate Allianz. […]