Category: Industry
Mobile Eye
Feb 29, 2008 (LBO) – Sri Lanka’s Kay Jay Security has tied with Dialog Telekom to provide a closed circuit television (CCTV) monitoring through third generation mobile technology, the company said. “Under the new joint-venture, customers in Sri Lanka will be able to subscribe to a package that includes the installation of CCTV at their […]
Tough Chats
Feb 29, 2008 (LBO) – Higher inflation which reduced the spending power of subscribers and declining security was hurting Sri Lanka’s telecom firms, Fitch Ratings said in an Asia Pacific regional report. . Though the Sri Lankan telecom sector was expected to show “reasonable growth” in 2008, fixed wireless expansion was expected slow with increasing […]
Banking Trend
Feb 29, 2008 (LBO) – Sri Lanka’s Seylan Bank group full year profits grew four percent to 911 million but December quarter profits dipped amid lower loan growth, results released to the Colombo Stock Exchange showed. Fourth quarter net profit was down 58 percent to 89 million rupees compared with the same period last year. […]
Steady Course
Feb 28, 2008 (LBO) – Sri Lanka’s NDB Bank profits grew 17 percent in the December quarter, and full year 2007 profits were also up, when a one-off capital gain in the previous year was discounted, the company said. Group revenues were up 23 percent to 10 billion rupees in the 12-months to December 2007, […]
Pyramid Schemes
Feb 29, 2008 (LBO) – The Central Bank Friday warned that new ‘pyramid schemes’ that have been banned are making an appearance in different parts of the country. Those taking part in such schemes are in danger of losing their money and are also committing an offence under the banking law, it said in a […]
New Journey
Feb 29, 2008 (LBO) – Sri Lanka will call fresh bids for a planned new container terminal in Colombo and is going ahead with a contract to build its breakwater, a senior port official said. The other major port operator which did not bid was Dubai Ports World, which is making huge investments in ports […]
Road Bid
Feb 28, 2008 (LBO) – A joint venture between Sri Lanka’s International Construction Consortium (ICC) and China Harbour has a won 2.4 billion rupee deal to build section of the highway leading to a northeast of the island, a senior minister said. The contract floated by Sri Lanka’s Road Development Authority is funded by an […]
Petrol Performance
Feb 27, 2008 (LBO) – Lanka IOC has made a net profit of 282 million rupees for the December quarter compared with a loss of 327 million rupees in the same period last year. However, the profit was much lower than the 677 million rupees the company, a unit of Indian Oil Corp., earned during […]
Sri Lanka activated carbon maker eyes Asian face mask market
Feb 28, 2008 (LBO) – Sri Lankan coconut-shell-based activated carbon maker Haycarb says it plans to sell face masks in overseas markets in Asia with dense populations and growing air pollution problems. Haycarb managing director Ananda Hettiarachchy said the masks, developed for use by Sri Lankan urban and rural consumers, had become “quite popular” and […]
Sri Lanka air travellers to get online benefits
Feb 28, 2008 (LBO) – Sri Lankan travellers reserving tickets through Emirates’ newly commissioned online booking portal, can win free win tickets until the end of March, the company said. Emirates contest website The promotion which is valid till end of March, requires travellers to book their seats on-line on Emirates operated flights. “We have […]
Education Reform
Feb 28, 2008 (LBO) — Sri Lanka will teach arts and commerce subjects for pre-university students in English from this year, a senior government minister said. Sri Lanka’s cabinet of ministers had approved a proposal by education minister Susil Premajayantha to start English medium instruction at 50 schools this year, information minister Anura Yapa said. […]
Mobile Payments
Feb 28, (LBO) – Sri Lanka’s state-run Bank of Ceylon has tied up with an Indian mobile commerce firm to start a text message based electronic payment system that could overtake credit card transactions, officials said. Bank of Ceylon’s new service allows its six million customers to use pay shops that join the system at […]