Category: Industry
Peninsular Supply
Sept 11, 2007 (LBO) – Residents in Sri Lanka’s northern Jaffna peninsular are moving beyond basic needs and are now looking for inputs to revive livelihoods, the top official in charge of supplying the area said Tuesday. S.B. Divaratne, Commissioner General of Essential Services (CGES), said regular shipments by sea to Jaffna had ensured the […]
Hedging Game
Sept 11, 2007 (LBO) – Lanka IOC, the Sri Lanka unit of the Indian Oil Corporation, has started to hedge oil imports with positive initial results, an official said. LIOC expects oil prices to ease towards the latter part of the year. “We have started to hedge imports in a cautious manner,” Lanka IOC managing […]
Sri Lanka team wins Spirit of Cricket Award
JOHANNESBURG, Sept 10, 2007 (AFP) – Winners of the International Cricket Council (ICC) awards for 2007 which were presented at the Sandton Convention Centre here on Monday night: Cricketer of the Year: Ricky Ponting (AUS) Other nominees: Shivnarine Chanderpaul (WIS) Kevin Pietersen (ENG) Mohammad Yousuf (PAK) Test Player of the Year: Mohammad Yousuf (PAK) Other […]
Swann and Wright selected for Sri Lanka one-day series
LONDON, Sept 10, 2007 (AFP) – England have selected off-spinner Graeme Swann and all-rounder Luke Wright for their forthcoming one-day international tour of Sri Lanka.Paul Collingwood (Durham, capt), James Anderson (Lancashire), Ian Bell (Warwickshire), Ravi Bopara (Essex), Stuart Broad (Leicestershire), Alastair Cook (Essex), Andrew Flintoff (Lancashire), Dimitri Mascarenhas (Hampshire), Monty Panesar (Northamptonshire), Kevin Pietersen (Hampshire), […]
Support Rating
Sept 10, 2007 (LBO) – Fitch Ratings Lanka has confirmed DFCC Vardhana Bank Limited’s (DVB) National Long-term rating at ‘AA-(lka)’ with a stable outlook.“The principal factor supporting DVB’s rating is the strong implied support assumed to be available from its parent DFCC Bank,” Fitch Rating said. “DVB is envisaged to play an important strategic role […]
Finance Rating
Sept 10, 2007 (LBO) – Lanka Rating Agency (LRA) has lowered the outlook of Ceylinco Investments and Realty’s (CIR) long-term BB1 rating from stable to negative. . “The ratings reflect the Company’s weakening asset quality, frail financial performance and low capitalization,” LRA said. “The negative outlook is premised on LRA’s concerns about the escalating interest-rate-environment, […]
Operating Rules
Sept 10, 2007 (LBO) – Sri Lanka’s Central Bank plans to enforce tough new mandatory rules next year that include provisions to encourage ‘whistleblowers’, linking executive pay to performance and discouraging the practice of inter-locking directorates. The new corporate governance rules seek to separate the functions of the chairman, who must be one of the […]
Hafeez helps Pakistan stun Sri Lanka
JOHANNESBURG, Sept 9, 2007 (AFP) – Pakistan warmed up for the Twenty20 world championships with a five-wicket win over World Cup finalists Sri Lanka in a practice match here on Sunday.The world championships open on Tuesday with hosts South Africa battling the West Indies at the Wanderers here. Mohammad Hafeez led the way with an […]
Home Truths
Sept 09, 2007 (LBO) – Trade analysts say that Sri Lanka should make the most of existing trade deals like the Bay of Bengal Initiative before negotiating more bilateral and multilateral agreements. Japan has played a big role in enhancing Sri Lanka™s infrastructure and is a major investment partner in the services sector. Sri Lanka […]
Changing Fortunes
September 09 (LBO) – Thanuja was orphaned at a very young age. She started to study the art of making coir products at the village Kohu Samithiya, or coir association from the time she was 17 years old. Realizing that she had a knack for it, she decided to strike out on her own. Unbankable […]
Sri Lanka President wants latest cricketer retirement probed
Sept 8, 2007 (AFP) – Sri Lanka President Mahinda Rajapakse has asked the country’s sports minister to investigate all-rounder Upul Chandana’s hasty retirement. “The president asked me to go into the reasons which led Chandana to announce his retirement,” Gamini Lokuge told AFP Saturday. Lokuge said he would invite Sri Lanka Cricket (SLC) officials and […]
Sri Lanka, India to discuss new cricket league
Sept 8, 2007 (AFP) – A top Sri Lankan cricket official will attend a meeting of the Indian Cricket Board next week to discuss a new league being floated to counter a controversial rebel series. “We have been asked to come and I will represent Sri Lanka Cricket,” Sri Lanka Cricket (SLC) President Jayantha Dharmadasa […]