Category: Industry
New Zealand judge to chair cricketer Singh appeal
DUBAI, Jan 9, 2008 (AFP) – New Zealand judge John Hansen has been appointed as commissioner for the appeal of Indian spinner Harbhajan Singh against the finding that he made racist comments during the second Test against Australia.In the meantime, Harbhajan may continue to play pending the verdcit of the appeal being given.The BCCI announced […]
Sri Lanka gets World Bank push for renewable power
Jan 09, 2008 (LBO) – A new credit line from the World Bank inked Wednesday will help build 50 mega watts of power in rural Sri Lanka, helping light up 60,000 rural homes, officials said. The money would be lent through the DFCC Bank for off-grid renewable energy projects. The World Bank is giving 40 […]
Sri Lankan Airlines in transitional management deal with Emirates
Jan 09, 2007 (LBO) – Sri Lanka was working on a transitional management structure with Emirates for national carrier Sri Lankan Airlines after the Middle Eastern airline decided not to renew its management deal, a senior government official said Wednesday. But the government had not yet decided to buy back the Middle Eastern airline’s 43.6 […]
Forestry Tourism
Jan 09, 2008 (LBO) – A Sri Lankan leisure group is involving tourists in a reforestation project as the country’s main tourism promotion body attempts to position the island as an eco-friendly green destination. The Jetwing group says its ‘Eternal Earth’ project which was kicked off this week at their Hunas Falls Hotel nestled adjacent […]
Cyber Trade
Jan 09, 2007 (LBO) – The Ceylon Chamber of Commerce ‘Trade Point’ electronic commerce gateway has been activated, enabling Sri Lankan small businesses to better access global trade opportunities, the chamber said Wednesday. The chamber was granted operational status as a fully operational trade point and the right to operate as a member of the […]
Retailer Rating
Jan 09, 2008 (LBO) – Rating agency Fitch assigned ‘A (lka)’ long term rating to Abans Private Limited in Sri Lanka with a stable outlook, the agency said Wednesday. Abans, owned by the Pestonjee family, has not put forward a clear succession plan nor introduced independent directors to its board, the ratings agency says. The […]
Sukuk Securities
Jan 09, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC), the island’s top vehicle financier, plans to raise more than 500 million rupees through Shariah compliant asset-backed securities, officials said. “There is tremendous potential for this type of product,” says People’s Leasing chief D P Kumarage. “We have been involved in Shariah compliant products […]
Top Dog
Jan 09, 2007 (LBO) – NDB Investment Bank (NDBIB) said it had helped mobilize 30 billion rupees in debt and equity from Sri Lanka’s capital markets in 2007 through some of the largest deals in the financial history of the island. NDBIB says it had been mandated by several firms to take them public. NDB […]
Qatar Airways plays down Sri Lankan interest: report
Jan 08, 2007 (LBO) – Middle Eastern carrier Qatar Airways has played down its interest in Sri Lankan Airlines after its current managing shareholder Emirates, announced a sell out of its equity stake, reports said. Though suffering a 4.7 billion loss and badly hit by war risk insurance it managed to survive by using Maldives […]
Sri Lankan Airlines to be run by government again: official
Jan 08, 2007 (LBO) – Sri Lanka’s government will take the reigns of SriLankan Airlines after a management agreement with Emirates Airlines ends in March 2008, the head of the island’s investment promotion office said. “The president has decided that the government will run SriLankan Airlines from April,” Board of Investment chief Dhammika Perera told […]
Sri Lanka expects tourism boost from devout visitors
Jan 08, 2008 (LBO) – The arrival of a spiritual leader and his followers for a religious ceremony in Sri Lanka will boost foreign visitors in January, the war ravaged island’s tourism promotion officials said Tuesday. Some 30,000 members of the Bohra community are expected for the 10-day Ashara Mubaraka ceremony starting January 9. His […]
Sri Lankan Airlines less attractive without catering, ground handling: analysts
Jan 07, 2008 (LBO) – Sri Lankan Airlines is not an attractive opportunity for potential investors unless it comes with ground handling and catering, as airline operations alone were not very profitable, analysts said. (US$1=SLR 108.30) The Bloomberg newswire quoting presidential secretary Lalith Weeratunga said a committee may be set up to look into options […]