Category: Industry
Sri Lanka glove exporter enters Indian market: report
Feb 18, 2008 (LBO) – Sri Lanka’s rubber gloves exporter Dipped Products Ltd. (DPL) has announced plans to enter the Indian market in partnership with Delhi-based import firm Optimum Marketing Metrics (OMM), news reports said Monday. The company, a unit of the Hayleys conglomerate, hopes to sell industrial and household gloves through big retail chains. […]
Tele Outlook
Feb 18, 2008 (LBO) – Standard & Poor’s said it had cut the outlook on Sri Lanka Telecom (SLT), the island’s largest fixed operator, to ‘negative’ from stable after the country’s sovereign outlook was lowered last week. “SLT continues to benefit from modest debt and positive free cash flow generation from its core businesses,” S&P […]
Low Tones
Feb 18, 2008 (LBO) – Sri Lanka’s Dialog Telekom group December quarter profits fell 35 percent despite revenue climbing 26 percent as losses from its pay TV business and thinner margins on mobile operations took their toll. Group net profits fell to 1.6 billion rupees from 2.5 billion in the December quarter on revenues of […]
Everyone™s Business
Feb 18, 2008 (LBO) – The United Nations office in Sri Lanka will hold a round table conference Tuesday to seek ways of encouraging more people to do volunteer work after a noticeable decline in interest. “The round table conference will talk about how we can make volunteering everyone’s business again,” United Nations Volunteers Programme […]
Slow Lane
Feb 18, 2008 (AFP) – Sri Lanka has further raised taxes on cars to discourage imports and save foreign exchange, officials said Monday, pushing first-time buyers out of the market as economic woes worsen on the island.The new tax, which adds 10-percent import duty on cars and vans, is to be rubber-stamped by parliament this […]
‘s Jayawardene says batsmen must lift
PERTH, Australia, Feb 16, 2008 (AFP) – Sri Lankan captain Mahela Jayawardene said his team needed to play smarter cricket at international level after this week’s 63-run loss to Australia.Sri Lanka blew their chance to go top of the tri-series ladder here Friday when several batsmen threw their wickets away as they were dismissed for […]
Arabian Luxury
Feb 16, 2008 (LBO) – Sri Lanka’s State Engineering Corporation (SEC) has clinched a deal to build a $125mn luxury housing project in Qatar, construction minister Rajitha Senaratne said. . SEC will send 1,600 workers to Qatar to build the 345 urban villas and also ship locally made inputs like wall and floor tiles, electrical […]
Sri Lanka dragonflies draw eco-tourists
Feb 16, 2008 (LBO) – An insect with large multifaceted eyes and two pairs of transparent wings on an extended body is luring tourists to Sri Lanka and helping a specialist eco-travel firm earn big bucks. “We had people coming into Sri Lanka just to see dragonflies,” Jetwing Eco Holiday’s chief executive Gehan de Silva […]
Transition
Feb 17, 2008 (LBO) – Sri Lanka’s NDB Bank has announced that its Deputy Chief Executive Officer Eran Wickramaratne will succeed Nihal Welikala as the Chief Executive from April 1 after the latter’s retirement. Both are former officers of the Citibank NA, Colombo. Wickramaratne joined NDB in April 1999 and has been closely associated with […]
Sri Lanka contain Australia despite Gilchrist heroics
PERTH, Australia, Feb 15, 2008 (AFP) – Local hero Adam Gilchrist scored a fairytale century as Australia made 236 in their tri-series one-day match against Sri Lanka at the WACA here Friday.The 36-year-old left-hander is quitting international cricket at the end of the series and it was his final innings at his home ground. Gilchrist […]
Sri Lanka beaten by Australia
PERTH, Australia, Feb 15, 2008 (AFP) – Local hero Adam Gilchrist scored a fairytale century in a man-of-the-match performance that lifted Australia to victory in their tri-series one-day game against Sri Lanka at the WACA Friday. After his 118 helped the hosts make 236 from 49.4 overs, Sri Lanka blew the chance to go top […]
Negative Outlook
Feb 15, 2008 (LBO) – Sri Lanka’s rating outlook has been lowered to ‘negative’ by Standard and Poor’s (S&P) who warned that the underlying B+ rating rating could also be downgraded if budgets worsened. The rating agency said short term foreign borrowing was rising and an “apparent” fall in national debt was largely coming from […]