Category: Industry
Sri Lanka tour operator association refreshes officers
Sept 20, 2007 (LBO) – The Sri Lanka Association of Inbound Tour Operators (SLAITO) has appointed a fresh set of officers, the Ceylon Chamber of Commerce said. SLAITO is made up of destination management companies who service tourists in Sri Lanka. Foreign travel companies and charter operators who are principals of the local members are […]
Capital Boost
Sept 20, 2007 (LBO) –Sri Lanka’s Seylan Bank said it was going ahead with a plan to raise new debt to beef up its capital base and meet Central Bank requirements. A bank statement said it plans to make a public quoted issue of unsecured subordinated redeemable five-year debentures the details of which are to […]
Ship Imports
Sept 20, 2007 (LBO) – Sri Lanka’s ship owners have warned that an unresolved dispute with Customs over a tax on vessels could force them to leave the Sri Lanka flag of registry. This could hurt the island’s prospects of building up its merchant fleet and encouraging foreign owners to register their vessels in the […]
Sri Lanka edge Bangladesh out of T20
JOHANNESBURG, Sept 18, 2007 (AFP) – Bangladesh were dumped out of the World Twenty20 championships on Tuesday after slumping to a 64-run defeat to Sri Lanka whose miserly attack quashed early fears of an upset.Their remaining match is against Pakistan, also in Cape Town on Thursday. Veteran seamer Chaminda Vaas, who took two for 14 […]
Pakistan beat Australia by six wickets
JOHANNESBURG, Sept 18, 2007 (AFP) – Captain Shoaib Malik and Misbah-ul Haq put on a century partnership as Pakistan stunned Australia by six wickets in the Twenty20 world championships here on Tuesday. The pair put on 119 off 78 balls for the unbroken fifth wicket to help their team recover from 46-4 and surpass Australia’s […]
Telco Suit
Sept 19, 2007 (LBO) – Sri Lankan fixed wireless operator Suntel, a unit of Sweden’s Telia, has said net profit for the first half ending June 2007 was up seven percent to 311 million rupees. Revenue rose to 3.6 billion rupees from 3.3 billion rupees in the first half of 2006 In a statement accompanying […]
Cartel Curbs
Sept 18, 2007 (LBO) – India’s Competition Commission is moving against an alliance of shipping lines which control most of the cargo shipped from south Asia, including Sri Lanka, to Europe but which shippers have accused of acting like a cartel. The India-Pakistan-Bangladesh-Ceylon Conference (IPBCC), one of the oldest shipping conferences in the world, controls […]
Global Cover
Sept 19, 2007 (LBO) – Sri Lankans traveling abroad can apply for international health insurance introduced by Aviva Insurance that will cover the cost of medical care abroad, officials said Wednesday. The insurance plans offered by Aviva’s local partner Eagle Insurance go up to two million dollars in annual coverage. They cover health costs whether […]
Travel Services
Sept 19, 2007 (LBO) – Nations Trust Bank said Wednesday it remains the sole issuer of American Express credit cards and other travel services despite the sale of the latter’s international banking subsidiary to Standard Chartered PLC. American Express Company has announced that it has sold its subsidiary, American Express Bank Ltd. (AEB), to Standard […]
Reality Time
Sept 18, 2007 (LBO) – Bad debts in Sri Lanka’s banks are rising and loan to deposit ratios are deteriorating as the lagged effects of a credit bubble driven by loose monetary policy are beginning to be felt, the latest emerging data shows. Loan growth last year was 29 percent and has slowed slightly to […]
Sri Lanka Jayasuriya sets bowling record as Pakistan scores big win
ayasuriya on receiving end as Pakistan crush Sri Lanka by Chris Otton =(PICTURE)= ATTENTION – UPDATES at end of match /// JOHANNESBURG, Sept 17, 2007 (AFP) – Big-hitting Sanath Jayasuriya suffered a taste of his own medicine, brutalised by Pakistan’s batsman as Sri Lanka lost by 33 runs in a World Twenty20 Super Eights match […]
England call up Mustard for Sri Lanka tour
LONDON, Sept 18, 2007 (AFP) – Durham wicket-keeper Phil Mustard has been drafted into England’s one-day squad for the upcoming tour of Sri Lanka as a replacement for the injured Matt Prior.The uncapped 24-year-old got the nod ahead of Tim Ambrose, James Foster and Chris Read on the strength of his recent batting record. He […]