Category: Industry
Terminal Disease
Feb 24, 2008 (LBO) — Sri Lanka will cancel a controversial deal for a container terminal at Colombo port and bring new conditions after a consortium led by the Port of Singapore Authority (PSA) won a financial bid, a media report said. The deal hit newspaper headlines with port workers alleging that state-run Sri Lanka […]
Bank Ownership
Feb 24, 2008 (LBO) – Sri Lanka’s DFCC Bank has taken the Central Bank to court in a legal challenge on restrictions on its ownership of another bank in which it is a big shareholder, a newspaper reported. DFCC is resisting a ruling by the Central Bank Monetary Board seeking to reduce its shareholding in […]
Medicine Men
Feb 23, 2008 (LBO) – Sales representatives of Sri Lankan medical firms are to be given identity cards through the pharma industry and given access to government hospitals during specified hours. They would also have to observe a strict code of conduct under a deal worked out between the industry and the health ministry to […]
Credit Crunch
Feb 23, 2008 (LBO) – Loans approved by Sri Lanka’s DFCC Bank in the nine months to December 2007 has plunged to 10 billion rupees from 17 billion a year before, the company told shareholders. DFCC said lower credit demand for capital expenditure, high interest rates and an effort to maintain credit quality slashed loan […]
‘s top order
MELBOURNE, Feb 22, 2008 (AFP) – Australia’s top order woes continued as they made 184 for seven against Sri Lanka in the tri-series one-day match here on Friday.The home side slumped to 54 for four before Michael Clarke and Mike Hussey again came to the rescue to help them build a competitive total. Hussey held […]
Sri Lanka beaten by Australia in rain-shortened match
MELBOURNE, Feb 22, 2008 (AFP) – Sri Lanka’s chances of reaching the tri-series finals were dealt a serious blow when Australia beat them by 24 runs in a rain-shortened one-day match on Friday. The visitors’ gamble to bowl first — expecting the match to be shortened by the weather — looked to have paid off […]
Rebuilding Mobility
Feb 22 2008, (LBO) – A Sri Lankan inventor is setting up a facility to provide customized artificial limbs to thousands who have lost their limbs to war, disease and accidents.. “My aim is to cater to disabled soldiers who have sacrificed so much for us and diabetic patients who are amputees and victims of […]
Aitken Spence India strategy to dwarf Sri Lanka
Feb 22, 2008 (LBO) – Sri Lanka’s Aitken Spence Hotels is on track to control around 1,400 rooms in India within two years, making them overtake domestic operations unless new hotels are built in the island, an official said. The firm has bagged eight management deals in India, some with equity participation, which will see […]
Exploration
Feb 21, 2008 (LBO) – Petroleum minister A H M Fowzie said Sri Lanka would have lost the confidence of global oil firms if it had postponed the bids for offshore exploration and was keen to ensure transparency in the bidding. The government had also appointed a cabinet appointed negotiating committee to negotiate with the […]
ICC panel recommends shorter World Cup
KUALA LUMPUR, Feb 20, 2008 (AFP) – The 2011 World Cup in South Asia should be shorter and with fewer teams, an International Cricket Council (ICC) panel recommended on Wednesday.The 10 chief executives were joined here by ICC chief executive Malcolm Speed, ICC president-elect David Morgan of England and India’s Sunil Gavaskar, who heads the […]
‘s Jayawardene expects no respite from Aussies
MELBOURNE, Feb 21, 2008 (AFP) – Sri Lankan captain Mahela Jayawardene said Thursday he didn’t think Australia would be affected by recent off-field distractions when the two sides meet in their tri-series match on Friday.Sri Lanka must beat Australia to revive their tri-series finals hopes and the home side has had plenty to consider this […]
Bottom Dwellers
Feb 21, 2008 (LBO) – The market for high rise apartments in Sri Lanka has bottomed out and prices are unlikely to fall further, a group of property developers and construction contractors said. Economic analysts have pointed out that Sri Lanka’s recent rise in land and property was an asset price bubble fired loose monetary […]