Category: Industry
Upturn
Dec 13, 2007 (LBO) – Sri Lanka saw more foreign visitors in November with Western Europe, a key generating market rallying 40 percent to drive total arrivals up by 20 percent, the tourism promotion office said. Arrivals from UK grew 53 percent to 7,938, Germany 24 to 4,005 while the Netherlands grew 85 percent to […]
Equity Injection
Dec 13, 2007 (LBO) – Sri Lanka’s Nations Trust Bank is making a one billion rupee cash call sweetened with warrants, giving an option to buy into the bank at a fixed price in 2010 and 2011, the company said Thursday. NTB has 31 branches, 8 leasing centers, 38 teller machines and issues American Express […]
Sri Lanka planning to name stadium after Murali
Dec 12, 2007 (AFP) – The Sri Lankan venue where Muttiah Muralitharan shattered the world bowling record could be re-named after the prolific off-spinner, the country’s sports minister said on Wednesday.Gamini Lokuge said he will ask the authorities that control Kandy’s Asgiriya stadium to re-name the ground after Sri Lanka’s most famous cricketer. “Asgiriya belongs […]
England 48-0 in second Sri Lanka Test
Dec 12, 2007 (AFP) – England, trailing by 197 runs in the first innings, were 48-0 in their second knock at stumps on the fourth day of the second cricket Test here on Wednesday.Alastair Cook was unbeaten on 19 and captain Michael Vaughan was on 28 when bad light stopped play 16 overs early at […]
Sri Lanka Ceylon Cold Stores expands fizzy drinks business
Dec 12, 2007 (LBO) – Ceylon Cold Stores has invested 800 million rupees to expand its carbonated drink making line to increase production and introduce different pack sizes to compete with other producers. The company says its ice cream has also captured half the market share in Maldives while soft drinks are exported to Europe, […]
Favourites
BANGALORE, India, Dec 12, 2007 (AFP) – India remains the top destination for companies moving information-technology services to lower-cost economies, but China, Russia and Brazil are catching up, said a report released Tuesday.Research firm Gartner also said offshore spending will grow 60 percent in Europe and 40 percent in the US next year in a […]
Hurry Call
Dec 12, 2007 (LBO) – Sri Lankan port workers Wednesday urged the government to speed up a new project to expand Colombo port, saying further delays could jeopardise its transhipment business and hub status. Unions representing a wide range of workers in Colombo port said the Colombo south port expansion project was a vital and […]
‘s progress in second Test
Dec 12, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene missed a double century by five runs as England fought back on the fourth morning of the second Test here on Wednesday. Sri Lanka, replying to England’s first innings total of 351, crashed from their overnight score of 379-4 to 439-7 by lunch, a lead […]
Jayawardene, Vandort frustrate England
COLOMBO, Dec 11, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene and Michael Vandort put on 178 for the unbroken third wicket to keep England at bay in the second cricket Test here on Tuesday. Sri Lanka, replying to England’s first innings total of 351, emerged unscathed from the morning session on the third day […]
Sri Lanka Ceylon Glass new plant starts production
Dec 11, 2007 (LBO) – Ceylon Glass Company (CGC) has begun production at its new plant in Horana, south of the capital Colombo, which can meet Sri Lanka’s entire demand for glass containers and export as well. Ceylon Glass chief executive Sanjay Tiwari said the second production line would start next week and that they […]
Top Rating
Dec 11, 2007 (LBO) – Fitch Sri Lanka has confirmed John Keells Holdings (JKH) national ‘AAA (lka)’ rating with a stable outlook, but expressed concern that most of its cash is generated by bunkering and container operations. “JKH’s ratings reflect its strong cash flow generation and increasing earnings diversity,” Fitch said. But the rating agency […]
‘s eight-wicket pair frustrate Sri Lanka in second Test
COLOMBO, Dec 10, 2007 (AFP) – England’s eight-wicket pair of Matthew Prior and Ryan Sidebottom put on 55 undefeated runs to keep Sri Lanka at bay in the second cricket Test here on Monday.England, looking for a series-levelling win after losing the first Test in Kandy last week, took their first innings to 327-7 by […]