Category: Industry
Sri Lanka fight back after bad start against Queensland
BRISBANE, Australia, Nov 2, 2007 (AFP) – Sri Lanka fought back after an early innings collapse to claim four Queensland wickets on an eventful opening day of their three-day tour match at Allan Border Field here Friday.The Queenslanders won the toss and had the tourists struggling at 81 for six in the 27th over before […]
Anti-doping sleuths arrive in Sri Lanka for Rugby championship
November 02, 2007 (LBO) — The International Rugby Board’s anti-doping inspectors arrived in the Sri Lanka to kick off the Asian Rugby championship which starts in Colombo later this week, officials said Friday. Tim Ricketts, the board’s anti-doping Manager, will lead the panel during the nine-nation event which runs from November 3-10. “We will do […]
Happy Shopping
Nov 02, 2007 (LBO) – A Sri Lankan media management and marketing services company, has tied up with a UK firm to offer retail design and research to optimize revenues, officials said. Vanguard Management Services has tied up with Shopworks, a UK consultancy which has worked with retailers like Tesco, Carrefour, Wal-Mart as well as […]
Spending Power
Nov 02, 2007 (LBO) – Sri Lankan conglomerate Hemas Holdings has reported a sharp fall in net profit for the September quarter as high inflation erodes consumer spending and high interest rates make borrowing for investments more costly. Group net profits fell 44 percent to 166 million in the second quarter ending September 2007, according […]
Fresh Face
Nov 02, 2007 (LBO) – Sri Lanka’s newest registered finance company, Swarnamahal Financial Services (SFS), kicked off this week offering a range of lending and deposit products. CEO Hafeez Rajudin says the company, a unit of the EAP group, will soon open two branches in Kandy and Colombo. In addition to hire purchase and leases, […]
Too Slow
Nov 02, 2007 (LBO) – Sri Lanka’s motor trade is lobbying the government to discourage used car imports and change import duty to make brand new vehicles more affordable. The Ceylon Motor Traders’ Association (CMTA) says the government has still not responded to repeated proposals to restructure vehicle tax regulations and introduce a method of […]
Broad Highway
Nov 01, 2007 (LBO) – Dialog Broadband Networks, a unit of Dialog Telekom launched broadband services offering high download speeds at competitive prices which can potentially take-over the corporate leased line market for internet, officials said. The firm uses Worldwide Interoperability for Microwave Access (WiMax) to offer download speeds of up to 4Megabits per second […]
Blank Cheque
Nov 01, 2007 (LBO) – Tariff preferences available under European Union market access concessions are a ‘blank cheque’ for Sri Lankan exporters to penetrate sophisticated markets, trade officials said. Director of Commerce Kulatunga Perera said the EU’s Generalised System of Preferences Plus scheme will be reviewed in 2008 and that he was confident Sri Lanka […]
Sri Lanka want Aussies to fight for Warne-Murali Trophy
Oct 31, 2007 (AFP) – Sri Lanka Cricket on Wednesday formally suggested to Australia to mark their upcoming Test series with a trophy named after spin rivals Shane Warne and Muttiah Muralitharan.The country’s governing body said they had written to Cricket Australia that the winner of the two-Test series, opening in Brisbane on November 8, […]
Sri Lanka leisure group buys Maldives resort
Oct 31, 2006 (LBO) – Sri Lankan conglomerate Aitken Spence has announced that it has bought another island resort in the Maldivian archipelago where it is already one of the top leisure operators. Aitken Spence Hotels (International), a subsidiary of Aitken Spence Hotel Holdings, said it had acquired the Vadhoo Island Resort for 13 million […]
Mini Hydro
Oct 30, 2007 (LBO) – Sri Lankan mini hydro power company Vidullanka Tuesday said net profit for the first half ending September 30, 2007 was up nine percent year-on-year to 24.6 million rupees. Group revenue rose 13.5 percent to 83.5 million rupees over the same period, according to interim results sent to the Colombo bourse. […]
Murali likely to miss Test warm-up
BRISBANE, Australia, Oct 30, 2007 (AFP) – Star bowler Muttiah Muralitharan is expected to be rested for Sri Lanka’s final warm-up match ahead of next week’s first cricket Test against Australia at the Gabba here.Captain Mahela Jayawardene indicated the spin wizard would sit out the three-day game with Queensland starting on Friday after his marathon […]