Category: Industry
Payment System
March 27, 2008 (LBO) – The SAARC Payments Initiative (SPI), enabling a more efficient payment mechanism among south Asian countries, is to be launched in Colombo tomorrow, the Sri Lanka Central Bank said Thursday. The initiative will upgrade the region’s payment systems to international standards and help promote trade and investment in south Asia, a […]
Historic win for Sri Lanka over Windies in cricket test
PROVIDENCE, Guyana, March 26, 2008 (AFP) – Chaminda Vaas played a starring role with the ball, as Sri Lanka created a bit of history, when they completed a 121-run victory over West Indies in the opening Test on Wednesday. Vaas captured five wickets for 61 runs from 22.2 overs and Muttiah Muralitharan took three for […]
Jayawardene hails bowlers after Sri Lanka win
PROVIDENCE, Guyana, March 27, 2008 (AFP) – Sri Lanka captain Mahela Jayawardene paid tribute to his bowlers for dismissing West Indies twice on what was widely acknowledged as a docile Guyana National Stadium pitch, and handing the visitors their first Test match win in the Caribbean. The tourists created a bit of history, when they […]
Sri Lanka Janashakthi Insurance to sell 16.5mln shares at Rs12
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance is planning to sell 16.5 million shares priced at 12 rupees a share through an initial public offer to raise 198 million rupees, an official said. . The company has called a special meeting of its existing shareholders this Friday seeking approval to start the public […]
Sri Lanka tourism industry has bounce-back capacity: officials
Mar 27, 2008 (LBO) – Sri Lanka’s tourism industry has the capacity to bounce back, officials who returned from a travel fair in Germany after spreading the message that island is safe for foreign visitors, said. “Right now we are going through a bit of a slow down,” Hiran Cooray, the Managing Director of Jetwing […]
Equity Hedge
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance said it was on track for a public listing after recording profits of 525 million rupees in 2007, with strong results from general insurance and investment income boosting the bottom line. The firm’s total revenue with investment income rose to 5.2 billion rupees from 4.7 billion […]
Sri Lankan vegetable oil exporters warn of impending closure
March 26, 2008 (LBO) – Sri Lanka based makers of vanaspati ghee or hydrogenated vegetable oil who exported to India under a free trade deal said they faced closure after India slashed duty on imported vegetable oils. . India dropped import duty on palm oil on March 20 in a bid to check rising domestic […]
‘s Hambantota in drive to lure more tourists
Mar 26, 2008 (LBO) – Sri Lanka’s southern coastal city to Hambantota has launched a new drive to draw more visitors in, with the area already acquiring a name for wildlife, historical sites and a 150 kilometre stretch of beach. “Our key objective is to promote the Hambantota district as a highly desirable tourist destination […]
Power Loan
Mar 26, 2008 (LBO) – HSBC Sri Lanka said it has arranged 152.2 million euros (230 million US dollars) in debt for a 300 MegaWatt thermal power plant in the island, from US and European export credit agencies. The credit has a 100 percent unconditional guarantee from the government of Sri Lanka. The rates were […]
Extended
Mar 26, 2008 (LBO) – Sri Lanka’s Commercial Bank says it is opening branches with extended hours and is also planning automated teller kiosks that will provide internet banking facilities to customers. The bank opened its 165th branch at Ward Place, Colombo on Wednesday which will stay open till 5.00 pm in the evening. Commercial […]
Equity Hedge
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance said it was on track for a public listing after recording profits of 525 million rupees in 2007, with strong results from general insurance and investment income boosting the bottom line. The firm’s total revenue with investment income rose to 5.2 billion rupees from 4.7 billion […]
Sri Lanka in control of cricket test
PROVIDENCE, Guyana, March 24, 2008 (AFP) – Sri Lanka seized control of the opening Test against West Indies on Monday although their hosts need eight more runs to avoid the follow-on. West Indies, replying to Sri Lanka’s first innings total of 476 for eight declared, reached 269 for nine when stumps were drawn on a […]