Category:
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 […]
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 […]
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 […]
Maldives battles with rising drug abuse among young
VILINGILI ISLAND, Maldives, Sept 4, 2007 (AFP) – The Maldives, known as a holiday haven for the rich and famous, is grappling with a growing drug abuse problem among its young people including pre-teens.Around 20 percent of the island nation’s residents under the age of 15 are using banned substances, according to the National Narcotics […]
Men and women look for different qualities in a mate: study
CHICAGO, Sept 3, 2007 (AFP) – The face of dating may have changed down the years, but the laws of attraction have not changed since the days of the Neanderthals, a study released Monday suggests.The women’s movement and the sexual revolution aside, it seems that men still seek out the most attractive women and women […]
EU commissioner tell governments to keep out of Central Bank decisions
MADRID, Sept 3, 2007 (AFP) – EU Economic and Monetary Affairs Commissioner Joaquin Almunia on Monday called on EU states to respect the independence of the European Central Bank (ECB) over monetary policy and setting interest rates.Also Monday, Almunia said he believed the current crisis in the US subprime mortgage market would not have a […]
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 […]
EU pressures Sri Lanka on rights abuses, Govt says only reacting to terror
Sept 04, 2007 (LBO) – The European Union has told Sri Lanka to ensure there are no more human rights abuses while the government has said its recent military actions were only to defend against Tamil Tiger terrorism. EU Commissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner has told Foreign Minister Rohitha Bogollagama […]
Sri Lanka welcomes Indian Ocean naval drill
PORT BLAIR, India, Sept 4, 2007 (AFP) – A massive naval drill opens in the Indian Ocean on Tuesday with warships from the United States and four other nations flexing their muscle in one of the world’s busiest shipping lanes. Twenty-seven ships and submarines from the United States, Australia, Japan and Singapore will join seven […]
Sri Lanka says reserve money on target, but domestic assets rise
Sep 04, 2007 (LBO) – Sri Lanka’s central bank said Tuesday reserve money growth is on target, but domestic assets in the monetary base continued to rise, indicating a further weakening of international reserve backing for the local currency. However analysts say Central Bank attempts to stabilize the economy has been undermined by a fiscal […]
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 […]
Sri Lanka to tender exploration blocks in October; estimated one billion barrel deposit
September 03, 2007 (LBO) – Sri Lanka is tendering three off-shore oil exploration blocks in October and exploration firms are expected to begin work in 2008, petroleum minister A H M Fowzie said. Sri Lanka has identified eight off-shore exploration blocks in the north eastern Mannar basin of which two had been reserved for China […]