Category: Industry
Banking Credibility
Dec 29, 2007 (LBO) – The International Monetary Fund (IMF) has raised doubts about the independence of Sri Lanka’s central bank and its ability to regulate banks fairly due to the presence of a Treasury representative which creates a conflict of interest. “¦the Monetary Board’s independence could be potentially constrained by the presence of the […]
Pension Problem
Dec 28, 2007 (LBO) – The International Monetary Fund has criticised delays in reforming Sri Lankan state sector pension schemes and urged government to regulate private pension funds. It also urged the government to allow large pension funds to expand their private securities portfolio in order to develop the securities market, and make them more […]
Mobile Auction
Dec 27, 2007 (LBO) – Sri Lankan fisherman are using mobile phones to ‘auction’ their catch before reaching shore, allowing them to get better prices, backed by better bargaining power, an official said. Once the fishermen land their catch, it has to be sold quickly before the fish starts to spoil. “As soon as they […]
Media Rumpus
Dec 27, 2007 (LBO) – A Sri Lanka minister who was held hostage by angry colleagues inside a television station after he assaulted the news chief of the broadcaster was rescued by commandos, an LBO journalist at the scene said. Chandrasekera’s colleague Lal Mawalage said this was the first time the Rupavahini Corporation had acted […]
Heavenly Alerts
Dec 27, 2007 (LBO) – A digital satellite radio disaster alert system that can be remotely activated which was field tested in Sri Lanka is now ready for use in the region to give early warning of tsunamis, officials said. The Addressable Radio for Emergency Alert (AREA) system can send disaster alerts within seconds of […]
Bridge Building
MATARA, Sri Lanka, Dec 26, 2007 (AFP) – Sri Lanka marked Wednesday the third anniversary of the devastating Asian tsunami by opening a showpiece bridge in the south of the island where 31,000 people died.President Mahinda Rajapakse formally commissioned the 116-metre (383 feet) bridge across the Nilwala river here in this southern coastal town of […]
Australia remain the team to beat
LONDON, Dec 25, 2007 (AFP) – By the end of a year where Australia continued to remain supreme as the leading Test and one-day side it was easy to think little had changed in world cricket.They won a third straight World Cup and, after a run of 14 consecutive Test wins, they were closing in […]
England fined for dawdling against Sri Lanka
LONDON, Dec 24, 2007 (AFP) – England captain Michael Vaughan was on Monday fined 40 percent of his match fee for his team’s slow over rate during the third and final Test against Sri Lanka. The tourists failed in their bid for victory in the match in Galle last week, with the drawn result meaning […]
Satellite Maps
Dec 23, 2007 (LBO) – A mapping programme using satellite pictures will help Sri Lanka’s government do better planning and rebuilding in the tsunami-hit eastern and southern provinces, officials said. The French-funded Geographical Information System (GIS) project using high resolution satellite imagery costs almost a billion rupees. The detailed digital maps that can be prepared […]
England fall to fifth in Test rankings despite Sri Lanka draw
DUBAI, Dec 22, 2007 (AFP) – England might have been scrambled to a rain-affected draw against Sri Lanka on Saturday, but the result could not prevent them from slipping three places to fifth position in the ICC Test Championship table.When time was called on the match in Galle on Saturday, England had battled to 251-6 […]
Emirates braces for worst in Sri Lanka air talks
Dec 22, 2007 (LBO) – Emirates Airlines, managing shareholder of SriLankan Airlines, has indicated that it is preparing for a possible breakdown in contract renewal talks over an ongoing row where its top manager has been ordered out of the island. The chief executive officer of Sri Lankan airlines, Peter Hill, an Emirates appointee has […]
Cook keeps England afloat in Sri Lanka Test
GALLE, Sri Lanka, Dec 21, 2007 (AFP) – Alastair Cook hit an unbeaten half-century as England began a long vigil to avoid defeat in the third and final Test against Sri Lanka here on Friday.The tourists, following on 418 runs behind after being dismissed for a new low of 81 against Sri Lanka in the […]