Category: Industry
Windies looking to put positive spin on test team after Sri Lanka defeat
PORT OF SPAIN, Trinidad, April 1, 2008 (AFP) – Stories of the ill-treatment of spin bowlers at the hands of the West Indies selectors over the years are notorious.Since Lance Gibbs ended his distinguished career on February 5, 1976, West Indies cricket history is littered with several bowlers plying the slow stuff that have been […]
Emirates airlines hits 100 destinations with Dubai-Cape town service
April 01, 2008 (LBO) – Emirates airlines said it had non-stop services to Cape Town in South Africa from its hub in Dubai, cutting travel time for travellers from the Indian sub-continent and Europe. . “The new service will provide its customers in Europe, Middle East, the Indian-sub continent and Asia-Pacific with direct access to […]
Biggest Deal
April 01, 2008 (LBO) – Malaysia’s Usaha Tegas group bought a 35.2 percent stake in Sri Lanka Telecom for 300 million dollars making it the biggest deal in Sri Lanka’s capital market history and driving valuations to new heights. Usaha Tegas paid 50.50 rupees for 635 million shares of SLT from Japan’s NTT Communications valuing […]
New Partner
April 01, 2008 (LBO) – Malaysia’s Usaha Tegas (UT) group said it was looking to provide management input to Sri Lanka Telecom (SLT) and work with its major shareholder, Sri Lanka’s government, after buying a third stake in the telco. The UT group bought a 35.19 percent stake in SLT through Global Telecommunication Holdings (GTH), […]
Media Trend
April 01, 2008 (LBO) – Fragmented audiences in traditional media like television and radio have made commercial inserts in programs less effective especially to reach urban consumers, marketers in Sri Lanka have said. This was pushing advertisers into emerging new media such as the internet, mobile and to sales points. Conventional advertising on television, radio […]
Sri Lanka expert panel urges action on community-based tourism
April 01, 2008 (LBO) – A growing demand for community-based tourism services from global travelers is creating new opportunities to boost incomes of poorer communities provided their inputs are bought at good prices. “Tourism has undeniable potential for pro-poor economic development in Sri Lanka,” Sri Lanka’s tourism ministry said in a statement. “Community heritage and […]
New Faces
April 01, 2008 (LBO) – RAM Ratings (Lanka) Tuesday announced Siti Norma Yaakob has been elected as the new chairman of the firm and its parent company, RAM Holdings Berhad. It also announced the appointment of three new directors: Zainal Aznam, Syed Md Amin and Yeah Kim Leng. Siti Norma is the former Chief Judge […]
Switched Off
Mar 31, 2008 (LBO) – Sri Lanka has terminated a scheme that gave tax-slashed cars to state workers from today and no new applications would be entertained, the finance ministry said. State workers who have been issued tax slashed import permits but have not opened letters of credit by March 31 would not be able […]
‘s national carrier
March 30, 2008 (AFP) – Dubai’s Emirates Airlines said Sunday it would stop sharing routes with Sri Lanka’s national carrier when its decade-long management contract expires this month.“Code share arrangements between Emirates and SriLankan Airlines will cease from 31st March 2008 with the expiry of the management agreement,” Emirates said in a statement released here. […]
Oil Wealth
March 30, 2008 (LBO) – Sri Lanka has an opportunity to tap capital surpluses of oil-rich Gulf countries like Qatar as well as export professional services for a booming construction industry there, a senior Gulf banker said.R Seetharaman, chief executive of Doha Bank, the largest private commercial bank in the State of Qatar, said the […]
Market Play
Mar 30, 2008 (LBO) – Standard Chartered Bank which won a deal to raise 150 million dollars for the government earlier this month, is well positioned to boost fee based services, a top official said. A top player in foreign exchange markets and hedging products in the island, Standard Chartered Sri Lanka’s after tax profit […]
Plastic Competition
March 30, 2008 (LBO) – The emergence of non-bank entities that issue cards for payment services are a threat to traditional commercial banks, a Sri Lankan central banker said. The payments system is being transformed by new information technology and the integration of financial markets which has led to the emergence of non-bank actors, said […]