Category: Industry
England fume over umpiring errors in second Test
Dec 9, 2007 (AFP) – England captain Michael Vaughan was furious with the umpires after Sri Lanka grabbed four wickets in the final session to scuttle his team’s confident start in the second Test here on Sunday.Fast bowler Lasith Malinga took two wickets off successive balls as England, electing to take first strike in good […]
Streaker halts play in England-Sri Lanka Test
Dec 9, 2007 (AFP) – A male streaker ran on the field on the opening day of the second cricket Test between England and Sri Lanka on Sunday, forcing play to be halted for three minutes.The unidentified man, part of the nearly 3,000-strong band of travelling England supporters, sprinted from the stand next to the […]
Sri Lanka face aggressive England
Dec 8, 2007 (AFP) – England coach Peter Moores wants his team to be streetwise and aggressive as the tourists bid for a series-levelling win in the second Test against Sri Lanka starting on Sunday.England lost the first Test in Kandy by 88 runs despite holding a first innings lead of 93 runs and failed […]
‘s Ranatunga warns of talent drought
Dec 8, 2007 (AFP) – Sri Lanka’s legendary cricketer Arjuna Ranatunga on Saturday expressed concern about the lack of new talent emerging to replace the island’s ageing superstars.“We do not see any top talent coming up to replace great players like Muttiah Muralitharan and Kumar Sangakkara,” Ranatunga said at a ceremony to commend Muralitharan on […]
Sri Lanka tableware exporter goes niche
Dec 07, 2007 (LBO) – Sri Lankan tableware exporters Dankotuwa Porcelain has said it is shifting strategy away from mass production to focus on specialty designs for niche markets. The move is in response to growing competition from cheaper manufacturers in other Asian origins, especially those with access to cheap energy. “It is impossible to […]
Sri Lanka power fails island wide
Dec 07, 2007 (LBO) – Sri Lanka’s national power system failed shortly before dawn Friday, plunging the island in darkness as a thermal generator tripped out of the grid, officials said. A combined cycle thermal power plant at Sri Lanka’s state-owned Ceylon Electricity Board’s (CEB) Kelanitissa thermal generation complex had tripped at 4.48 am local […]
Forewarned
Dec 07, 2007 (LBO) – Sri Lanka’s private sector credit is slowing but lenders should tighten standards and improve risk management as interest rates continue to rise, the Central Bank has warned. In a report on the island’s financial sector stability, the regulator said private sector credit has grown around 24-26 percent in the first […]
Union Outlook
Dec 07, 2007 (LBO) – Fitch Ratings Sri Lanka has lifted Union Bank of Colombo’s outlook on its BB + (lka) rating to ‘positive’ from ‘stable’ citing an asset quality improvement. “The recent equity injections and the benefits expected, specifically to profitability and scalability of the bank’s business is reflected in the revision of the […]
Logistics Nightmare
Dec 07, 2007 (LBO) – Sri Lanka’s logistics industry is calling for action to get a paperless cargo clearing system on track, through a new operator or allowing competition, five years after a part state-owed firm was given the task. Logistics and shipping firms that wanted to cut cost and speed up cargo clearance are […]
Money Trees
Dec 06, 2007 (LBO) – Sri Lanka’s financial and accounting regulators are developing more reliable ways of valuing trees in forestry firms, the Sri Lanka Accounting Auditing Standards Monitoring Board (SLAASMB) said. “When finalized, the guidelines will provide a reliable basis to value biological assets,” the SLAASMB said. “It will provide preparers, auditors and regulators […]
Railway Repair
Dec 06, 2007 (LBO) – Sri Lanka plans to rehabilitate a tsunami-hit coastal railway line at a cost of 167.4 million dollar using an Indian credit line, a minister said. The proposed project that extends the railway line beyond Matara, a town in the southern tip of the island, will be completed within three years, […]
Regional Finance
Dec 05, 2007 (LBO) – Sri Lanka’s Sampath Bank is looking to lend more money in the Maldives with 45 million dollars raised through a syndicated loan arranged by HSBC Bank, officials said. . “We already have a portfolio of about two million dollars in the Maldives,” Samapath Bank chief Anil Amarasuriya said. The bank […]