Category:
Lending Risk
SINGAPORE, July 6, 2011 (AFP) – The Asian Development Bank (ADB) and reinsurer Swiss Re announced an agreement Wednesday to boost regional trade by guaranteeing financing risks for exporters and importer in poor countries. The guarantee means banks can be more comfortable lending to these companies, which need short-term funds to pay for their import-export […]
Sri Lank, India ferry opens new route for people, vehicles
July 06, 2011 (LBO) – A new ferry service between India and Sri Lanka offers a cheaper alternative to airlines for tourists, traders and pilgrims and even the ability to drive across, the head of the company running the service said. “Our aim was to keep the price much less than that of airlines which […]
Legal Status
July 6, 2011 (LBO) – Sri Lanka’s recent state land sales to investors have procedural flaws that could result in the contracts being challenged in courts and deemed illegal, opposition lawmakers warned at an economic forum. Sri Lanka had sold two blocks of state land to CATIC, a Chinese defence contractor, and Shangri La, a […]
Sri Lankan shippers warned against forged trade documents
July 06, 2011 (LBO) – Documents used for international trade such as bills of lading are easily forged, a maritime fraud expert has warned Sri Lankan shippers, saying physical verification of cargoes would help reduce risk. “They don’t get resolved quickly and can take years – many banks have been caught in that position. ” […]
Sri Lanka Pakistan CEPA talks in August: report
July 6, 2011 (LBO) – Sri Lanka and Pakistan will have talks on a comprehensive economic partnership agreement (CEPA) to broaden economic links in August in Colombo, a media report in the wake of annual trade talks in Islamabad said. Sri Lanka’s commerce minister Rishad Bathiudeen and Pakistan’s state minister for foreign and economic affairs […]
Sri Lanka skipper in trouble after wowing MCC
July 5, 2011 (AFP) – Former Sri Lanka skipper Kumar Sangakkara is in hot water after his highly acclaimed lecture at Lord’s, where he criticised what he alleged was a corrupt and politicised cricket administration at home. He said power games among cricket administrators, as well as board politics, had triggered rifts, ill feeling and […]
Sri Lanka IT and ITES: Cheap is not enough
July 06, 2011 (LBO) – I moderated a session on IT and BPO industries at the Sri Lanka Economic Summit. True moderation is not time keeping and turn management. It requires preparation. I prepared. I was bothered by a figure that was presented by the government spokesperson, the CEO of the ICT Agency. This placed […]
Sri Lanka stock end up 0.7-pct
July 05, 2011 (LBO) – Sri Lankan stocks recovered Tuesday with gains in index-heavy shares like John Keells Holdings in which there were six crossings or off-market private deals and foreigners being net buyers, brokers said. The All Share Price Index went up by 46.05 points (0.67 percent) to close at 6,862.79 while more sensitive […]
Sri Lanka lifts travel curbs on foreigners to north
July 5, 2011 (LBO) – Sri Lanka has lifted travel curbs on foreigners to the north of the island where a 30-year war ended in 2009, and foreign passport holders could travel without special approval, the government’s information office said. The government’s information office said foreign passport holders would no longer require documents of approval […]
Sri Lanka Shangri La hotel designs being wrapped up: official
July 5, 2011 (LBO) – Hong Kong based Shangri La group’s two hotels in Sri Lanka which are now in the final design stage will cost as much 630 million US dollars to build, chief financial officer Madhu Rao said. The group bought a six acre block of state land in Colombo’s ‘Galle Face’ beach […]
E-treatment
July 05, 2011 (LBO) – eChannelling, a listed Sri Lankan dotcom that enables patients to make appointments with doctors over the internet, has struck a deal with Millennium Information Technologies to enable doctors to treat patients remotely. The two companies will jointly provide remote healthcare services to the local and regional markets, a stock exchange […]
Tech Park
July 05, 2011 (LBO) – Sri Lanka is evaluating two sites to set up an information technology park for firms to quickly set up shop, where two foreign universities are also likely to be located, an official said. Reshan Dewapura, head of the government’s Information Communications Technology Agency said the government evaluating two sites outside […]