Category: Industry
Chip Block
August 11, 2007 (LBO) – HSBC, Sri Lanka’s largest credit card issuer, has announced new technology to combat fraud but said its local acquiring network would be upgraded only in the first quarter of next year.In addition to the standard magnet strip, the new ‘smart’ cards issued from this month would have an embedded micro-processor […]
‘s rebel league
COLOMBO, Aug 10, 2007 (AFP) – Sri Lankan cricket’s governing body on Friday threatened to ban any national player who took part in the breakaway multi-million dollar Indian Cricket League. Ex-Australian stars Shane Warne and Glenn McGrath have dismissed claims by the ICL that they have already signed up but the duo continue to be […]
Sri Lanka apparel industry urged to focus on consumer concerns
August 10, 2007 (LBO) – Sri Lankan apparel exporters have been advised to focus attention on the industry’s impact on the environment or ‘footprint’ and the chemical composition of its products in response to rising European consumer demands. The industry’s decision to specialise in the manufacture of intimate wear, lingerie and underwear is paying off […]
Cyber Tea
August 10 (LBO) – Sri Lanka’s Tea Board has successfully completed the pilot run of an automated export document processing system that can speed up operations and has invited all exporters to get online. The system, designed and implemented by eServices Lanka, allows tea exporters to submit export documents for approval electronically without having to […]
Real Pros
Aug 10, 2007 (LBO) – One of Sri Lanka’s top professionals in the fast-growing telecommunications industry has advised his peers to stay in the island despite problems, saying developing economies have more change and opportunity. “The General System of Preferences (GSP) scheme the state achieved was due to our ethical corporate behavior and very good […]
Banking Gains
August 08, 2007 (LBO) – Sri Lanka’s Hatton National Bank (HNB) group has reported a 35 percent increase in net profit to 682 million rupees for the second quarter ended June 2007 with provision for bad loans also increasing. The HNB group revenues were up 41 percent to 7.78 billion rupees, the bank said in […]
Maritime Fraud
August 09, 2007 (LBO) – Trade finance involving shipment of goods by sea could lend itself to money laundering, a top international maritime fraud investigator has warned Sri Lanka’s shipping community. Companies involved in the transport of goods by sea and related business like banks should take more care in their transactions and know better […]
Skills Boost
August 9, 2007 (LBO) – The United States has completed a program with a Sri Lanka state training institute to improve public sector finance skills of government officers, the US embassy in Colombo said. “U.S. Treasury focused on these objectives because of an urgent need to train young professionals in government service,” the embassy said […]
Sri Lanka faces cricket selector trouble
Aug 9, 2007 (AFP) – A depleted selection panel picked Sri Lanka’s Twenty-20 World Championships team Thursday following a spate of no-shows and resignations from the committee, sports minister Gamini Lokuge told AFP. “But I have told Sri Lanka Cricket that I have no objection if the selectors are given an allowance and other perks […]
Sri Lanka name strong Twenty20 squad
Aug 9, 2007 (AFP) – Mahela Jayawardene will lead a strong Sri Lankan team to the inaugural Twenty20 World Championships to be held in South Africa in September, officials said on Thursday.The 15-man squad shows no surprises, with prolific off-spinner Muttiah Muralitharan confirmed to play after earlier reports suggested that he may be rested from […]
Tele Rating
August 9, 2007 (LBO) – Standard and Poor’s (S&P) has upgraded the outlook on Sri Lanka Telecom (SLT) from negative to stable while affirming its ‘B+’ foreign currency and ‘BB-‘ local currency rating. “The rating on SLT continues to reflect the long-term rating on the sovereign given its government ownership and its exposure to domestic […]