Category: Industry
Windies legends demand shake-up after defeat to Sri Lanka
PORT-OF-SPAIN, Trinidad, March 28, 2008 (AFP) – West Indies legends Desmond Haynes and Deryck Murray have called for a major shake-up in the structure of cricket in the Caribbean in order to drag the team out of the doldrums. The comments of former Windies captain and opening batsman Haynes, and former vice-captain and wicketkeeper Murray, […]
New Wavelength
March 29, 2008 (LBO) – Sri Lanka needs transparent telecom regulation and lower costs to encourage the information technology business and become a ‘knowledge economy’, says a new World Bank study. Transparent and consistent regulation was important to encourage private investment in the IT sector which was important for the development of the industry, knowledge […]
Private Equity
March 28, 2008 (LBO) – Trading in Sri Lanka’s Sampath Bank shares was halted briefly Friday after the bank announced it was in talks with an international private equity company about a possible investment. Sampath Bank is holding talks with ShoreCap International Ltd. (SCI) regarding a possible investment by ShoreCap in the bank, Sampath said […]
Risk Cap
Mar 28, 2008 (LBO) – Sri Lanka’s central bank has limited the risk premium of one year deposit rates of finance companies to 2.5 percent above Treasury bills, from an existing rate of 3.0 percent, the regulator said. The benchmark rate applicable is the weighted average T-bill rate of the preceding quarter. In 2005 the […]
Flight problems ground Sri Lanka tour match
SCARBOROUGH, Tobago, March 27, 2008 (AFP) – Sri Lanka’s scheduled three-day tour match against West Indies ‘A’, planned for this weekend, was cancelled on Thursday because of flight problems. The match had been scheduled for Shaw Park from March 29 to 31, but it has become the latest victim of the Caribbean’s erratic airline services. […]
Sri Lankan Airlines to get treasury secretary as new chairman
March 28, 2008 (LBO) – Sri Lanka’s government has appointed treasury secretary P B Jayasundera as chairman of the national carrier SriLankan Airlines, whose management deal with Emirates Airline expires at the end of March. The government which owns 51.05 percent of the airline has also appointed Sunil Wijesinha, present chairman of tableware exporter Dankotuwa […]
Capital Quiz
March 28, 2008 (LBO) — A quiz on capital markets hosted by investment research outsourcing firm Amba Research is on track to have more teams this year with accounting bodies joining universities in the event. “Unlike last year, in addition to universities, we will be opening up this event to ACCA/CIMA institutes as well. We […]
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 […]