Category: Industry
Big Bank
Oct 20, 2007 (LBO) – Fitch Ratings Lanka has affirmed the National Long-term rating and Individual Rating of Bank of Ceylon (BOC) at ‘AA(lka)’ and ‘D/E’ respectively. It said in a statement the affirmation reflected “the bank’s systemic importance as the largest bank in Sri Lanka with 18.2% of the banking system assets, its relatively […]
Sri Lanka spring Atapattu surprise
Oct 18, 2007 (AFP) – Sri Lanka’s selectors on Thursday named former captain Marvan Atapattu as a surprise late inclusion for the upcoming trip to Australia, nearly two years after his last Test match.The 36-year-old veteran, who has the support of Sri Lanka’s sports minister, was added almost two weeks after the initial 16-man squad […]
‘s Angelo Matthews wins 2006 Prince of Wales cricket trophy
Oct 19, 2007 (LBO) – Sri Lankan schoolboy cricketer Angelo Matthews, named the island’s best player in the 2006 under 19’s world cup, has won the 2006 Prince of Wales trophy, British High Commissioner, Dominick Chilcott announced Friday. Matthews of St Joseph’s College, Colombo, has been a regular member of the Sri Lanka under 19’s […]
Strauss axed for England tour to Sri Lanka
LONDON, Oct 19, 2007 (AFP) – England opener Andrew Strauss has been dropped for his country’s forthcoming Test tour of Sri Lanka.England squad for Test series in Sri Lanka: Michael Vaughan (Yorkshire, capt), James Anderson (Lancashire), Ian Bell (Warwickshire), Ravi Bopara (Essex), Stuart Broad (Nottinghamshire), Paul Collingwood (Durham), Alastair Cook (Essex), Matthew Hoggard (Yorkshire), Philip […]
Offshore Business
Oct 18, 2007 (LBO) – Two of Sri Lanka’s top listed conglomerates, John Keells Holdings and Hayleys are positioning themselves to exploit business opportunities expected to emerge from an anticipated oil strike offshore. The aim of sending the business delegation to Norway was to widen the scope for business collaborations in new sectors with high […]
‘s Ceylon Glass says exports surging
Oct 18, 2007 (LBO) – Ceylon Glass Company Thursday announced net profit for the quarter ended September 30 rose 29 percent to 44.6 million rupees and that exports were doing well. The company’s interim results released to the Colombo bourse showed revenue for the quarter increased to 504 million rupees from 421 million in the […]
Migrant Votes
Oct 18, 2007 (LBO) – Sri Lankan migrant workers who account for as much as 12 percent of voters are still denied the right to vote although they constitute the island’s second biggest foreign exchange earner. Commissioner of elections Dayananda Dissanayake told LBO migrant workers remain without the ability to vote because successive governments remained […]
New Products
Oct 17, 2007 (LBO) – Software and IT educational institute OpenArc released products for business and management sectors of companies in Sri Lanka, following its 15 year anniversary celebrations. ‘Open Arc SkyBank’, is an enhanced web-based solution to enhance efficiency of merchant banks and finance companies which use online real time Integrated General Ledgers, OpenArc […]
High Stakes II
Oct 17, 2007 (LBO) – Sri Lanka’s Aitken Spence conglomerate Wednesday defended its claim to have made the highest bid for Colombo port’s new container terminal in partnership with PSA Corp. An Aitken Spence spokesman said a statement by rival bidder Hutchison Port Holdings (HPH) was misleading and an attempt to change the rules for […]
Poor Health
Oct 17, 2007 (LBO) – Lanka Hospitals Corporation said its net loss for the first quarter of the 2008 financial year ended June 30 shot up 148 percent to 35.5 million rupees from 14.3 million in the same period last year. The Harry Jayawardene controlled company, which owns the Apollo Hospital, said in results reported […]
Sri Lanka tourism slumps throws thousands out of work
Oct 17, 2007 (LBO) – Five thousand experienced hotel workers are out of work due to the tourism downturn, according to the managers of Sri Lanka’s top hotel school who are now training people to find work abroad. Hotels are unable to hire new staff as tourist arrivals have fallen 22 percent in the first […]
Port Bids
Oct 17, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) Wednesday dismissed conflicting claims by rival bidders for a new terminal contract, saying they were inaccurate as bids were still being evaluated. “No one can claim to be the highest bidder,” said Nalin Aponso, deputy chief manager for communication and PR at the SLPA. […]