Category: Industry
Tele Connect
Mar 10, 2008 (LBO) – The sale of an equity stake in Sri Lanka Telecom held by Japan’s NTT to Malaysia’s Usaha Tegas group could go ahead, the island’s supreme court has ruled, a reporter at the court said. The UT group was initially expected to purchase 25 percent of the stock with NTT keeping […]
Web Eyeballs
Mar 10, 2008 (LBO) – Advertising agencies are struggling to convince clients to use the web as internet penetration increases in Sri Lanka, but poor awareness among clients and users alike, hinder these efforts, officials said.“If you look outward and what kind of business opportunities are out there, then the web can play a very […]
High Flyers
Mar 10, 2008 (LBO) – Emirates Airlines is tripling frequent flying miles to business travellers in March on selected destinations, the airline said. Emirates operates 17 services a week from Colombo to Dubai and four services a week from Colombo to Singapore and Jakarta. First class passengers who fly more than 100 flights across its […]
Travel Time
MANILA, March 10, 2008 (AFP) – The Asian Development Bank said Monday it would double its loan commitment for a major highway project in Sri Lanka to 140 million dollars. A 90 million-dollar loan approved in 1999 would be supplemented by a second loan to ensure the completion of the Colombo-Matara-Galle highway and widen it […]
Gas Play
March 09, 2008 (LBO) – Sri Lanka’s state-owned petroleum utility will enter the liquid petroleum gas (LPG) market by June using fuel dealerships, a top official said, while plans are underway to boost gas production. Ceylon Petroleum Corporation (CPC) now produces about 60 metric tonnes of LPG a day or about 10 percent of the […]
Private Call
March 08, 2008 (LBO) – Sri Lanka Telecom (SLT), the island’s dominant fixed line operator, has invested over 100 billion rupees in the business since it was privatized a decade ago, the company says in its 2007 annual report. The firm has also given more than a million connections since then, with its fixed access […]
Brand Values
Mar 08, 2008 (LBO) – Local brands will have to boost their image to compete against experienced and focused international manufacturers, who now having a larger market share in Sri Lanka, a branding expert has said. International manufactures are well focused and equipped to provide the goods that will have high appeal among consumers. “International […]
Saving Grace
Mar 08, 2008 (LBO) – State-run Sri Lanka Savings Bank, started to take over operations of defunct Pramuka Bank, will get a 1.5 billion rupee government guarantee to meet minimum regulatory capital, officials said. . “The capital requirement is met out of government funds, we are in a comfortable position to offer capital of 1.5 […]
Grease Pal
March 07, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) is looking for a joint venture partner to start a lubricant retailing business, a senior government minister said. Information minister Anura Yapa said the ministry of petroleum has told Sri Lanka’s cabinet of ministers that lubricants would be sold under the brand Ceypetco. […]
Hayden a liar and Gilchrist no saint, says Harbhajan
NEW DELHI, March 7, 2008 (AFP) – Controversial spinner Harbhajan Singh further deepened the animosity between India and Australia on Thursday when he called Matthew Hayden “a big liar” and Adam Gilchrist “no saint.” Harbhajan has been a thorn in Australia’s flesh since 2001 when he claimed 32 wickets in three home Tests to play […]
Architecture Prize
Mar 07, 2008 (LBO) – A bus terminus in rural Sri Lanka, a car showroom in the capital Colombo and a lowland forest visitor centre are vying for a million rupee award given in the name of Sri Lanka’s famed architect Geoffrey Bawa, officials said. The winner will be chosen after an on site technical […]
Equity Gains
March 07, 2008 (LBO) – Lanka Orix Leasing Company (LOLC) December quarter profits were boosted 250 percent with unrealized equity gains, while revenues grew 77 percent, its interim accounts and officials said. Group assets were 32 billion rupees, while LOLC’s own gross assets were 26.5 billion rupees. Group net profits grew to 485 million rupees […]