Category: Industry
Slow Going
Feb 08, 2008 (LBO) – A multi-million dollar project to build a new container port in Colombo is on track despite lengthy delays, a Sri Lankan government minister has assured the island’s shipping community. The government plans to build a new deep-water port next to Colombo, called the Colombo South Port, as well as build […]
Mobile Finance
Feb 08, 2008 (LBO) – Sri Lanka’s Dialog Telekom, a unit of Telekom Malaysia, said it had raised 30 million US dollars from two banks to buy telecommunications equipment from Sweden. The package was arranged by Standard Chartered Bank in Colombo, Dialog said in a stock exchange filing. It was backed by EKN, Sweden’s export […]
Ranatunga picks new team to head Sri Lanka Cricket
Feb 7, 2008 (AFP) – Two of Sri Lanka’s foremost cricketers, Arjuna Ranatunga and Aravinda de Silva, have joined up to lead the island’s cricket administration, sports minister Gamini Lokuge told AFP on Thursday.Former captain Ranatunga, who already heads Sri Lanka Cricket (SLC), will be assisted by his World Cup winning colleague Aravinda de Silva […]
Sri Lanka suspends school sports after bomb
Feb 7, 2008 (AFP) – All school sports have been suspended in Sri Lanka after a Tamil Tiger suicide bomb attack in the capital killed nine pupils and a baseball coach, the government said Thursday.An eduction ministry spokesman said planned field trips for events marking the island’s 60th anniversary of independence from Britain would also […]
Desert Move
Feb 07, 2008 (LBO) — Sri Lanka’s Aitken Spence, a top leisure group that also runs resorts in the Maldives and India, said it had inked a deal to operate four hotels of Oman Hotels and Tourism Company (OHTC). . Al Falaj and Ruwi Hotels in Muscat, Al Wadi in Sohar and Sur Plaza in […]
Electronic Cash
Feb 07, 2008 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has tied up with financial giant JP Morgan Chase, to offer a foreign exchange card that can replace travellers cheques for people traveling abroad, the bank said. Foreign travellers could store the equivalent of between 500 to 10,000 dollars and use it as to […]
Rohit Sharma fined for dissent in Sri Lanka match
BRISBANE, Australia, Feb 5, 2008 (AFP) – Indian batsman Rohit Sharma was fined for dissent after India’s one-day international cricket wash-out against Sri Lanka at the Gabba here Tuesday. Sharma was fined 10 percent of his match fee for standing his ground after being given out by South African umpire Rudi Koertzen, caught behind off […]
‘s Coke unit in cricket talent search
Feb 6, 2008 (LBO) – Sri Lanka’s Coca Cola unit has teamed up with former cricket star Aravinda de Silva to launch ˜Cricket pathway’, a project to search for cricketing talent in rural areas in the country. “Coca Cola wants to see youngsters blossoming from school champions to world champions with guidance and support from […]
Sri Lanka power costs to rise 30-pct to plug Rs42bn hole
Feb 06, 2008 (LBO) – Sri Lanka’s power ministry is backing a proposal by the state-run Ceylon Electricity Board (CEB) to raise tariffs by around 30 percent to avoid a projected loss of more than 42 billion rupees in 2008. “The suggestion is something like 25 percent and there will be a fuel adjustment rate,” […]
Super Brand
Feb 06, 2008 (LBO) – Sri Lanka’s Chartered Institute of Management Accountants (CIMA) has been awarded Superbrand status which will serve as a benchmark for other business-to-business services to reach for, branding officials said. “It is an indication that the brand has achieved a unique status in the country,” said Sharmila Cassim director marketing of […]
Hotel Loss
Feb 06, 2008 (LBO) – Sri Lanka’s John Keells Hotels suffered a loss of 91 million rupees in the December quarter compared with a profit of 79 million rupees in the same period of last year. The John Keells Hotels PLC share traded flat at 6.75 rupees Wednesday. Revenue for the quarter rose 20 percent […]
Trade Finance
Feb 06, 2008 (LBO) – Sri Lanka’s NDB Bank says it has linked up with US-based TradeCard Inc to provide import and export financing services that will cut transaction costs, especially in the apparel sector. “Partnering with TradeCard enables us to electronically deliver more trade financing options to our customers in Sri Lanka, NDB Bank […]