Category: Industry
Direct Credit
May 23, 2008 (LBO) – Sri Lanka’s People’s Leasing is getting 10 million US dollars from the Asian Development Bank (ADB) which it can start lending within the next 30 days, a top official said. People’s Leasing inked a deal Friday with the ADB to lend to the small and medium enterprises in the island. […]
Sri Lanka trade deficit doubles in March
May 22, 2008 (LBO) – Sri Lanka’s trade deficit doubled in March 2008 to 448 million dollars as imports ratcheted up 32 percent while exports grew only 7.8 percent, government data showed. Exports grew 7.8 percent in March with apparel growing 8.2 percent to 293 million dollars. Agricultural exports grew 29 percent with tea growing […]
Sri Lanka power demand hits new record
May 22, 2008 (LBO) – Sri Lanka’s national grid operated by the Ceylon Electricity Board (CEB) hit a new night peak demand of 1922MegaWatts on May 21, an official of the island’s state run power utility said. The night peak was reached on the first working day after Vesak, a Buddhist religious holiday which is […]
Sri Lanka Brandix to put creations on catwalk
May 22, 2008 (LBO) – Sri Lanka’s apparel giant Brandix says its creations with an emphasis on eco-friendliness will be on display on the second day of a three day exposition in Colombo starting on May 30. On June 01, 60 items of lingerie, loungewear and casual wear designed by Brandix’ creative team will be […]
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 […]
Fuel Mix
May 22, 2008 (LBO) – Indian Oil Corporation’s Sri Lanka unit raised diesel retail prices by 20 rupees to 100 rupees a litre putting pressure on the state-run Ceylon Petroleum Corporation (CPC) which sells more fuel to follow suit. Before the increase, Lanka IOC says it was losing 43 rupees a litre from the sale […]
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 […]