Category:
Deposit Drive
July 28, 2007 (LBO) – People’s Bank is on an aggressive drive to raise deposits this year, with an enhanced target of 30 billion rupees, a top official said. With the re-launch of the bank’s ˜Jayasiri’ low cost mobilisation scheme, People’s Bank is geared to reach the higher target and promote the saving habit in […]
Sri Lanka™s Bogawantalawa Tea Estates loses money but enters export marketing
July 26, 2007 (LBO) – Bogawantalawa Tea Estates Ltd. has reported loss last year but its marketing subsidiary, about whose viability auditors have raised doubts, has made a breakthrough in overseas markets with contracts to pack teas for private labels. Bogawantalawa Tea Estates reported a group net loss of 121.6 million rupees for the year […]
Flu Scare
July 28, 2007 (AFP) – Sri Lanka on Saturday banned imports of live birds and chickens from India following an outbreak of bird flu in the neighbouring country, an official said. “Sri Lanka has banned imports with immediate effect, after we received reports of an outbreak of bird flu in Manipur, India,” said D.D. Wanasinghe, […]
No Papers
RIYADH, July 28, 2007 (AFP) – A Sri Lankan minister on Saturday wrapped up a mission to Saudi Arabia aimed at securing clemency for a teenage maid condemned to death, saying he was confident the visit would “bear fruit.” They are a key source of foreign currency for Sri Lanka. A total of 110 people […]
Open Plan
July 28, 2007 (LBO) – An anti-graft action plan developed with the involvement of civil society and state agencies was presented to representatives of Sri Lanka’s judiciary, government and parliament at conference in Colombo Saturday. The National Anti-Corruption Action Plan prepared with funding from the United States Agency for International Development, proposes actions to be […]
‘s Bajaj in talks with Renault to make small car
NEW DELHI, July 28, 2007 (AFP) – Indian two-wheeler maker Bajaj Auto said Saturday it was in talks with French automaker Renault for a business partnership. The two companies issued a statement follows media reports they were close to concluding a deal for Renault’s proposed plans to manufacture a 3,000-dollar car. In it, they said […]
Toyota to test electric plug-in hybrid Prius cars
SAN FRANCISCO, July 27, 2007 (AFP) – Toyota announced this week a partnership with the University of California to road test two plug-in hybrid cars, a step toward getting the fuel-efficient vehicles to consumers. The study to be launched this fall will be the first time a major automaker puts the experimental cars on US […]
Bruised Wall Street sees more losses as global markets reel
NEW YORK, July 27, 2007 (AFP) – The bruised US stock market slid further Friday as investors retrenched amid fears of a housing slump and a potential credit crunch that led to a massive rout a day earlier. The Dow Jones Industrial Average tumbled 208.10 points (1.54 percent) to close at 13,265.47, a day after […]
Merchant Assets
July 27, 2007 (LBO) – Fitch Ratings Lanka which affirmed People’s Merchant Bank’s (PMB) long-term BBB (lka) rating Friday said its assets grew 44 percent in the last financial year. The outlook on the rating is stable. “PMB’s rating takes into account its modest profitability and satisfactory asset quality,” Fitch said. It also considered the […]
Design Prize
July 27, 2007 (LBO) – A Sri Lankan trust named after renowned architect Geoffrey Bawa has launched a national award with a million-rupee prize to recognize and reward good examples of contemporary island architecture. . Sri Lanka has a lot of young talent in architecture which should be recognized and encouraged, the Geoffrey Bawa trust […]
Flying Gold
July 27, 2007 (LBO) – A SriLankan Airlines advertising campaign developed by Grant McCann Erickson hit the lime light winning the first gold at the Pacific Asia Travel Association (PATA) Gold Awards.The campaign which focused on the theme ˜home away form home™ bagged the award for the best marketing campaign for an airline. The whole […]
Saudi Sword
July 26 (LBO) – The Asian Human Rights Commission (AHRC) has urged the Sri Lankan government to ratify part of an international treaty to help save the life of a young girl facing a death sentence in Saudi Arabia. The called came as it emerged that more Sri Lankans were facing executions in Saudi Arabia. […]