Category: Industry
Eyes Skinned
Sept 05, 2007 (LBO) – Fitch Sri Lanka said it was maintaining a rating watch on six regional banks which was imposed following a government announcement that they would be merged with two other newly created state banks. Fitch put five regional banks on rating watch ‘evolving’ indicating that the rating could be changed after […]
Fast Links
Sept 05, 2007 (LBO) – Sri Lanka Telecom, the island’s dominant fixed phone operator, has increased bandwidth to accommodate rapidly growing high-speed broadband ADSL connections and plans a further expansion by December, an official said. But SLT cannot give telecom service level agreements (SLAs) guaranteeing ADSL performance as many factors determining service quality are beyond […]
Seismic Eye
Sept 05, 2007 (LBO) – Sri Lanka will shortly tender for two-dimensional seismic surveys off the southern tip of the island to look for new oil deposits, officials said. “Then we can get better terms for the remaining blocks,” Fowzie said. Three out of eight off-shore oil exploration blocks in the Northwestern Mannar basin which […]
Murali-less Sri Lanka fancy Twenty20 title
Sept 5, 2007 (AFP) – Sri Lanka have the resources to win the world Twenty20 crown despite the absence of star off-spinner Muttiah Muralitharan, their captain said Wednesday before leaving for South Africa. Skipper Mahela Jayawardena said Sri Lanka, the top limited-overs team in Asia and World Cup finalists in the Caribbean in April, needed […]
‘s Chandana quits in disgust
Sept 5, 2007 (AFP) – All-rounder Upul Chandana, one of Sri Lanka’s 1996 world cup winning team, on Wednesday announced he had quit international cricket and accused the selectors of treating him shabbily.“I was hoping to get selected for the world cup after doing consistently well in domestic cricket. It did not happen and when […]
Sri Lankan cricketer Upul Chandana bows out
Sept 4, 2007 (AFP) – Sri Lankan all-rounder Upul Chandana has retired from international cricket amid speculation he will sign up with the breakaway Indian Cricket League, reports said on Tuesday.Chandana, 35, gave his decision to Sri Lanka Cricket (SLC) chief executive Duleep Mendis in a letter without specifying the reason for his retirement, the […]
Green Buildings
Sept 04, 2007 (LBO) – Cement manufacturer Holcim™s Sri Lanka unit Monday announced that it had begun receiving entries for the company’s second sustainable construction awards competition in which the top prize is 100,000 US dollars. Entries in the competition, designed to promote environmentally friendly construction, can be submitted until February 2008, Edward Schwarz, general […]
Submarine Map
Sept 04, 2007 (LBO) – A Norwegian firm said it has been sub-contracted for two-dimensional seismic surveys of the seabed off Sri Lanka, as the island forges ahead to claim an extended continental shelf under international law. It is listed on the Oslo Stock Exchange. SCAN Geophysical Monday announced that the company has been awarded […]
Cash Cycle
Sept 04, 2007 (LBO) – Sri Lankan companies have invested millions of dollars to develop modern warehousing for tea sold at the Colombo auction, the world’s biggest, slashing lead times to hours or even minutes, an industry official said. They provide real time cataloguing and computerised systems that enable quick transfer of goods from producer […]
Sri Lanka joins hands with Maldives to promote tourism
Sept 4, 2007 (AFP) – Sri Lanka has teamed up with the neighbouring island paradise of the Maldives to woo tourists from China, Russia and the Middle East, officials said Tuesday. Sri Lanka’s 26-billion-dollar economy earned nearly 400 million dollars from tourism last year, the fourth largest foreign currency earner behind tea, clothing and remittances […]
Not Yet
Sept 03, 2007 (LBO) – No decision has yet been made to close the UK visa office in Colombo, though a review is underway, the British High Commission in Colombo said Monday. Press reports had said the visa office may be closed and moved to India. “There is an ongoing review into British visa services […]
Asset Backed
Sept 03, 2007 (LBO) – Fitch Sri Lanka has affirmed the ‘A (lka) national rating given to lease-backed securities of Senkadagala Finance Company, which has a ‘BBB+ (lka)’ rating with a stable outlook. The Lease Backed Trust Certificates (LBTCs) were issued by the special purpose vehicle Senkadagala Finance Trust Three (SFT3) with its credit enhanced […]