Category: Industry
Easier Shipments
Dec 21 (LBO) – The threat of higher freight rates on Sri Lankan exports to Europe is easing, former Sri Lanka Shippers’ Council chairman Jayanath Perera said. Exporters were forced to pay high rates six months ago when a surge in Chinese exports led to space shortages for Sri Lankan cargo on ships calling Colombo […]
” England play in Sri Lanka
LONDON, Dec 21, 2007 (AFP) – After a dismal performance at the crease on Thursday in Galle, Sri Lanka, where they were bowled out for just 81 in the final match in the three-Test series, England’s cricketers will not want to eye the British newspapers. Described as “pathetic” and “spineless”, England were blasted in Friday […]
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 […]
Northern Hunt
Dec 20, 2007 (LBO) – Sri Lanka plans to invite oil companies to explore for petroleum deposits in new areas in the north of the island, a senior minister said, where Tamil Tiger rebels are active. The petroleum ministry has been given the government nod to kick off exploration in the Sri Lankan side of […]
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 […]
‘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 […]
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 […]