Category: Industry
Skills Export
Nov 16, 2007 (LBO) – A Sri Lankan construction industry trade mission to the Middle East has managed to secure work in the booming Arabian Gulf construction industry, officials said. The visit to Qatar and Dubai by members of the Chamber of Construction Industries (CCI) was arranged in an effort to export local construction skills […]
Capital Issue
Nov 16, 2007 (LBO) – Sri Lanka’s state-owned Bank of Ceylon (BOC), the main commercial banker to the government, is planning to raise six billion rupees in debt next year to beef up regulatory capital, a top official said. At the rate we are growing the loan book we will have a two billion rupee […]
No Porn
Nov 16, 2007 (LBO) – Sri Lanka’s banks said they would dump customers who paid for child pornography though their services and would also report them to the regulator. The banks said Friday they would have “heightened watchfulness” on credit cards and “other methods of transaction[s] relating to child pornography”. The customers would be reported […]
‘s Union Assurance doubles earnings
Nov 15, 2007 (LBO) – Sri Lanka’s Union Assurance said net profit for the September quarter shot up 107 percent year-on-year to 29.6 million rupees. . General and life insurance premiums for the quarter grew by 17 percent to 1.1 billon rupees from 971 million rupees in 2006, according to interim results announced by the […]
Forging Ahead
Nov 15, 2007 (LBO) – Commercial Bank of Ceylon has reported a net profit growth of 30 percent to 1.1 billion rupees in the quarter ended September 2007 with foreign exchange earnings almost doubling to 519 million rupees. Total revenues grew 56 percent to 9.4 billion rupees, with net interest income also keeping pace at […]
Heavy Pull
Nov 15, 2007 (LBO) – Sri Lanka Shipping has announced its tugs have won contracts to tow international rigs on lengthy voyages. One tug has been deployed in the Middle East while another is underway moving a rig from Kakinada in India to Singapore. “Sri Lanka Shipping Co. was contracted to tow the rig ‘Transocean […]
Car Carriers
Nov 15, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) is planning a multi-storied car park and special tariffs at the Colombo port to encourage vehicle transshipment from India, an official said.Transshipment of vehicles from India, which is positioning itself as a small-car making hub, has been growing through Colombo. “The Port of Colombo […]
Sri Lanka apparel makers design a way up the value chain
Nov 14, 2007 (LBO) – Sri Lanka’s apparel makers are making inroads into design, collaborating closely with international brands to becoming an integral link in the supply chain of a fashionably evolving global industry. Sri Lanka’s top apparel makers stepped into the design stage of garments about five years ago, but are now getting deeper […]
Sri Lanka wildlife park no go zone for Britons
Nov 14, 2007 (LBO) – Britain has advised its citizens not to travel to the popular Yala wildlife park in southern Sri Lanka after a spate of killings and explosions suspected to have been carried out by Tamil Tiger guerrillas. “We advise against all travel to Yala National Park,” a travel advisory issued by Britain’s […]
Bank Number
Nov 14, 2007 (LBO) – Sri Lanka’s National Development Bank (NDB) net profit for the September rose 45 percent to 298 million rupees, with a deferred taxation adjustment helping counter higher provisions for bad loans. Total group income for the quarter increased to 2.6 billion rupees from 1.7 billion rupees, according to interim results filed […]
Fresh Start
Nov 14, 2007 (LBO) – One of the youngest stockbrokering firms in Sri Lanka, which started as a unit of the First Capital Group is now operating as an independent entity as a with the group selling out its stake. First Capital Equities is formally changing its name to First Guardian Equities from today, the […]
Sri Lanka to take action against Marvan after second test
Nov 13, 2007 (LBO) – Sri Lanka would take action against batsman Marvan Atapattu after the second test with Australia, a top official said. Sri Lanka Cricket interim chief Jayantha Dharmadasa told LBO that the decision was taken Monday. Atapattu was quoted by the media as saying that Sri Lanka’s cricket selectors were a “set […]