Category: Industry
Sri Lankan Airlines okayed to train techies by EU
Dec 20, 2007 (LBO) – The aviation safety agency of the European Union has certified Sri Lankan Airlines to train maintenance technicians, the airline said Thursday. “SriLankan Airlines is now one of the few companies in Asia to receive the globally recognized EASA 147 certification from the European Aviation Safety Agency, to provide training in […]
Not Resident
Dec 20, 2007 (LBO) – Sri Lanka’s immigration authorities have informed Sri Lankan airlines Thursday, that its chief executive Peter Hill’s resident visa has been cancelled, an official said. Hill had started his carrier as a trainee at British Airways forerunner British Overseas Airline Corporation in 1961. Hill, a Briton, was appointed by Emirates airlines, […]
Financial Health
Dec 20, 2007 (LBO) – Sri Lanka’s financial sector has so far been resilient in the face of shocks but risks are increasing as the economy heads for tough times, the International Monetary Fund (IMF) has warned. Rising interest rates likely to affect profitability of banks while credit quality is weakening as a result of […]
Air Battle
Dec 19, 2007 (LBO) – Sri Lanka has decided to revoke the work permit of SriLankan Airlines chief executive Peter Hill, an official said.The Board of Investment chief Dhammika Perera said the action was taken was in the public interest after a request from the airline’s main shareholder was turned down. A government spokesman said […]
‘s Jayawardene, Dilshan punish England fumbles
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene was one run away from becoming his country’s leading centurion as England paid dearly for missed chances in the third Test here on Wednesday.Jayawardene was unbeaten on 99 as Sri Lanka took their overnight total of 147-4 to 287-6 by tea on […]
‘s Jayawardene torments England in final Test
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Skipper Mahela Jayawardene became Sri Lanka’s leading century-maker on Wednesday to dampen England’s hopes of a series-levelling win in the third and final Test here. Jayawardene was unbeaten on 149 as Sri Lanka, taking advantage of a butter-fingered English display, carried their overnight score of 147-4 to […]
Sri Lanka power utility looks for savings, amidst political bungling
Dec 19, 2007 (LBO) – Sri Lanka’s state power utility is launching a public campaign to conserve power as it is faced with rising generation costs and controlled tariffs that are driving it towards record losses, officials said. Years of political interference, which delayed the construction of coal plants, has meant that the Ceylon Electricity […]
Sri Lanka urged to go for a deposit insurance scheme
Dec 19, 2007 (LBO) – Sri Lanka should introduce a compulsory deposit insurance scheme to strengthen the banking system and provide a public safety net, the International Monetary Fund has said. “The existing voluntary scheme is not used, and the fact that the one bank to have failed in the past few decades had been […]
Wet grounds delay play in England-Sri Lanka Test
GALLE, Sri Lanka, Dec 18, 2007 (AFP) – Wet ground conditions prevented play before lunch on the opening day of the third and final cricket Test between England and Sri Lanka here on Tuesday.England are seeking a series-levelling win after losing the first Test in Kandy.The second Test in Colombo was drawn last week. Match […]
England opt to field in final Sri Lanka Test
GALLE, Sri Lanka, Dec 18, 2007 (AFP) – England captain Michael Vaughan won the toss and sent Sri Lanka in to bat in the third and final cricket Test at the Galle International Stadium here on Tuesday. The tourists, trailing 1-0 in the series, left out off-spinner Graeme Swann from the 12 announced on Monday […]
Sri Lanka Insurance rating outlook lifted by Fitch
Dec 18, 2007 (LBO) – Fitch Ratings has lifted the outlooks on the AA-(lka) national insurer financial strength rating and A+(lka) credit rating of Sri Lanka Insurance Corporation (SLIC) to positive from stable. “The Positive Outlooks reflect SLIC’s progress in reforming the company since privatisation in 2003,” the rating agency said. “Fitch believes that the […]
Fitch Sri Lanka gives HNB Assurance A(lka) insurance rating
Dec 18, 2007 (LBO) – Fitch Ratings Sri Lanka has given HNB Assurance a national insurer financial strength rating of ‘A(lka)’ and a national long-term rating of ‘A-(lka)’ with stable outlooks. HNB Assurance is 60 percent-owned by Hatton National Bank Ltd (HNB), the second-largest private bank in Sri Lanka, rated ‘AA-‘. Fitch says HNB Assurance’s […]