Category: Industry
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 […]
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 […]
Fuel Pricing
March 07, 2008 (LBO) – Sri Lanka’s state-owned petroleum utility aims to hold retail fuel prices at current levels for the time being despite crude oil prices hitting record highs, its chairman Ashantha de Mel said. Ceylon Petroleum Corporation (CPC) is hoping income from oil futures hedging and its refinery resuming production after a shut […]
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. […]
Tough Times
Mar 06, 2008 (LBO) – Fitch Sri Lanka has downgraded the national long term rating of Sinhaputhra to ‘BB- (lka)’ from ‘BB (lka)’ with a negative outlook, as defaults increased amid tough economic conditions. “The downgrade reflects the significantly weakened asset quality and solvency at the regulatory six-month level,” Fitch Ratings said in a statement. […]
Long Wait
March 06, 2008 (LBO) – Container transporters in Sri Lanka Thursday announced plans for a protest action and work stoppage that could disrupt the flow of cargo to and from Colombo port. The Joint Council of Transporters (JCT) said in a statement their members would commence a protest combined with work stoppage from March 10 […]
Sri Lanka apparel makers struggle to find workers
March 5, 2008 (LBO) – Sri Lanka’s key clothing industry is rolling out a publicity blitz to attract shop floor workers to fill nearly 12,000 vacancies in plants across the island, industry officials said.A 280,000-dollar campaign will hit the local airwaves this week, as a team of recruiters and animators target 150 rural villages to […]
Skating Tower
March 05, 2008 (LBO) – Sri Lanka’s Ceylinco Consolidated has inked an agreement with the country’s investment promotion agency to set up its second shopping and apartment complex in the suburbs of Colombo. The 33 million US dollar project, “Realty Tower”, has 18 floors and will be built in the Colombo suburb of Nawala, on […]