Category: Industry
Driving Growth
Jan 25 (LBO) – Sri Lankan based IFS South Asia, offering supply chain solutions, clinched a million dollar deal with Pakistan’s automobile giant Millat Tractors on Wednesday.Jan 25 (LBO) – Sri Lankan based IFS South Asia, offering supply chain solutions, clinched a million dollar deal with Pakistan’s automobile giant Millat Tractors on Wednesday. This is […]
School Aid
Jan 25 (LBO) – The University Grants Commission is talking to top US colleges for scholarships to send local students abroad for post graduate studies.Representatives of the North Dakota State University (NDSU) are in Colombo to draw up plans on how students enrolled at local universities can transfer to its College in the United States. […]
Steady Grade
Jan. 24 (LBO) ? Sri Lanka’s DFCC Vardhana Bank retained its AA- (sri) rating for its senior unsecured long-term rating from Fitch Ratings Lanka, the agency said Tuesday. Jan. 24 (LBO) ? Sri Lanka’s DFCC Vardhana Bank retained its AA- (sri) rating for its senior unsecured long-term rating from Fitch Ratings Lanka, the agency said […]
Candy Bars
Jan. 24 (LBO) – Sri Lanka’s Board of Investment Tuesday dished out several tax incentives, encouraging investors to set up 300 new factories in rural regions of the country.Jan. 24 (LBO) – Sri Lanka’s Board of Investment Tuesday dished out several tax incentives, encouraging investors to set up 300 new factories in rural regions of […]
Payback
Jan. 24 (LBO) – Lanka IOC, a unit of Indian Oil Corp., picked up a Rs. 500 million cheque from the Sri Lankan government as partial payment towards its seven billion rupees subsidy claim, a top official said.Jan. 24 (LBO) – Lanka IOC, a unit of Indian Oil Corp., picked up a Rs. 500 million […]
Short Cut
Jan 23 (LBO) -Wireless local loop operators Lanka Bell has sought the telco watchdog’s help to up its interconnection into fixed line giant Sri Lanka’s Telecom’s network.Jan 23 (LBO) -Wireless local loop operators Lanka Bell has sought the telco watchdog’s help to up its interconnection into fixed line giant Sri Lanka’s Telecom’s network. Lanka Bell […]
Off Duty Nurse
Jan 23 (LBO) -Nurses in Sri Lanka’s public health service are threatening trade union action, over a salary increase anomaly.Jan 23 (LBO) -Nurses in Sri Lanka’s public health service are threatening trade union action, over a salary increase anomaly. Nurses’ trade unions in government hospitals say salary increases for nurses are well below increase given […]
Sloppy Efforts
NGOs charged that lack of coordination by one central agency was slowing down reconstruction after the tsunami. NGOs charged that lack of coordination by one central agency was slowing down reconstruction after the tsunami. Although government set up TAFREN which is now called RADA to be the main body helping reconstruction it does not maintain […]
LIOC Woes
The Treasury Secretary disputed subsidy claim by Lanka IOC (LIOC), fuel retailer, which is owed over Rs.7 billion despite a bullish report on the company earlier in the week by a stock analyst. The Treasury Secretary disputed subsidy claim by Lanka IOC (LIOC), fuel retailer, which is owed over Rs. 7 billion despite a bullish […]
Rival Bid
Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to have triggered Friday’s unsolicited bid by John Keells Holdings and Carsons for a controlling stake in the small insurance firm, market sources said. Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to […]
Water Boost
Jan 21 (LBO) – Sri Lanka’s power utility is heading into the dry season with its reservoirs full, translating into savings on expensive thermal bills and no power shortages on the cards. Last week, Victoria, the country’s largest reservoir, spilled for the first time in over five years, and water levels are topping 80 percent […]
Borrowing Cheap
Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this year to pay for key infrastructure projects, Treasury Secretary P B Jayasundara said Friday.Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this […]