Category: Industry
Sri Lanka rabies puppy in British quarantine bites three
LONDON, April 26, 2008 (AFP) – Three people were bitten by a rabies-infected puppy dog in British quarantine, a Health Protection Agency (HPA) spokeswoman said Saturday. The Department for Environment, Food and Rural Affairs announced that a case of rabies had been confirmed in the puppy. The dog was in quarantine after being brought into […]
Sri Lanka plant blazes green trail for Marks & Spencer
April 25, 2008 (LBO) – UK retailer, Marks & Spencer says a newly re-built eco-friendly apparel factory in Sri Lanka is part of a plan that will see all operations being ‘greened’ by 2012, in response to growing environmental consciousness in its markets. M&S, commissioned a completely re-built ‘green’ casual wear manufacturing plant run by […]
Sri Lankan Airlines Indian flights grounded as pilots go sick
April 25, 2008 (LBO) – Sri Lankan Airlines has canceled several flights to the Indian subcontinent as more than a dozen pilots reported sick, officials said. Sri Lankan airline spokespersons were not available for comment, but the airline had individually informed passengers of flights that had been canceled. The affected destinations are said to include […]
Strong Showing
April 25, 2008 (LBO) – NDB Bank says it has done well with a low cost to income ratio, and having the lowest non-performing loans among local banks while being profitable and having a strong balance sheet. “The bank’s low cost income ratio among local banks also reflects its stability while the growth in its […]
Athletes reject calls for Olympics boycott, protests in Beijing
LAUSANNE, Switzerland, April 24, 2008 (AFP) – Athletes from national Olympic Committees on Thursday rejected any boycott of the Beijing Games and said sport should be kept separate from politics despite China’s poor human rights record.“We are all of the wholehearted belief that boycotts are pointless and senseless — and only hurt the athletes,” the […]
Tri-lingual Alert
April 24, 2008 (LBO) – Sri Lanka’s Tigo, a unit of Millicom International Cellular has started short message service (SMS) alerts in Sinhala and Tamil languages, linking up with text news pioneer JNW, officials said. The service runs with content from JNW News (www.jnw.lk) and software developed by Microimage Mobile Media , a Sri Lanka-based […]
More Time
April 24, 2008 (LBO) – Sri Lanka’s central bank has given more time for founding directors and chairmen of banks to serve on the boards beyond the original nine years specified by the regulator. “These additional transitional provisions give special consideration to the role and contribution of Founding Directors and Incumbent Chairmen to the promotion […]
Confirmed Credit
April 24, 2008 (LBO) – Sri Lanka’s Fitch Ratings has confirmed Commercial Bank of Ceylon’s ‘AA+(lka)’ rating with a stable outlook, citing the bank’s good profitability, asset quality, strong solvency, high capitalization and its standing among local banks. Fitch also confirmed the banks ‘individual rating at ‘D’ and support rating at ‘5’. The ‘AA(lka)’ rating […]
Domino Effect
April 24, 2008 (LBO) – Sri Lanka’s financial regulator Thursday told finance companies to carefully monitor liquidity and be more aware of risks to ensure they survive the current financial markets turmoil. This was because the collapse of one firm could have a domino effect on the whole system, Central Bank governor Ajit Nivard Cabraal […]
Sri Lanka ABC Insurance suspension lifted
April 23, 2008 (LBO) – Sri Lanka’s insurance watchdog said it had lifted a suspension of ABC Insurance after the firm complied with solvency rules. The Insurance Board of Sri Lanka said it had lifted a suspension of its registration after the firm had taken corrective measures to comply with general insurance solvency margin rules. […]
Sri Lanka Ceylinco to push retirement thinking in May
April 23, 2008 (LBO) – Sri Lanka’s Ceylinco Life is lunching a month long campaign in May to promote retirement planning, as knowledge about the process is poor and penetration is low, the company said in a statement. Ceylinco says despite an aging population, Sri Lanka’s penetration level of retirement planning is even lower than […]
Step Up
April 23, 2008 (LBO) – Sri Lanka’s Fitch Ratings has upgraded Sanasa Development Bank’s speculative grade by one notch to BB(lka) with a stable outlook, the rating agency said. “The upgrade reflects the materialisation of SDB’s planned capital program, and is supported by the bank’s good profitability and asset quality, albeit constrained somewhat by the […]