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Allianz seeks Sri Lankan teens for football camp in Germany
May 04, 2013 (LBO) – Allianz Insurance Lanka said it is on the lookout for two Sri Lankan teenagers to participate in a football camp in Germany and teens between the ages 14 to 16 could apply. The annual Allianz Junior Football camp, from August 7 to 12 will allow them to train with members […]
MegaPlan
May 03, 2013 (LBO) – Sri Lanka is positioned to be one of the pivotal ports of call in Asia with deepwater terminals that can serve mega vessels which are transforming global container shipping, officials said.The so-called mega vessels include CMA CGM’s new ships which can carry 16,000 containers (twenty foot equivalent units), the second […]
Banking
May 03, 2013 (LBO) – Sri Lanka’s Seylan Bank group said net profits for the March 2013 quarter rose 26 percent from year earlier, by both fund and fee based income.The group reported earnings of 1.51 rupees for the quarter. Return (profit before tax) on assets was 1.54 percent and return on equity was 1.54 […]
Sri Lanka electricity rate change to cut revenues by Rs8.0bn: report
May 03, 2013 (LBO) – A change made to an electricity tariff hike from April 2013 will reduce expected revenues by 8.0 billion rupees a year, a media report said.In 2012 the CEB lost 61 billion rupees. This year the loss increased partly due to an increase in furnace oil prices which in turn would […]
” measure
May 03, 2013 (LBO) – Consumer prices in Sri Lanka’s urban areas rose 7.2 percent in April 2013 from a year earlier, according to a price index compiled by citizens down from 12.6 percent in March. CAL Research said it expected inflation to tick up following an electricity price hike this month. Analysts say any […]
Sri Lanka SOE losses hurt investment and jobs: IMF
May 03, 2013 (LBO) – Massive losses at Sri Lanka’s state enterprises have a negative impact on people’s lives that are beyond accounting losses in the balance sheet, which hurts investment and jobs an International Monetary Fund official said.Last year state-run Ceylon Petroleum Corporation and Ceylon Electricity Board lost more than 150 billion rupees. “It […]
Sri Lanka has scope for easing policy: CB Governor
May 03, 2013 (LBO) – Sri Lanka has scope to ease policy, because credit growth is slowing and the Central Bank has been selling down its Treasuries stock, Governor Nivard Cabraal said. When its Treasuries are sold down, through a ‘quantity tightening’ policy can be tight, analysts say, regardless of the actual policy rate. T-bill […]
Japan ready to continue support for Sri Lanka: Finance Minister
Apr 03, 2013 (LBO) – Japan will continue to support Sri Lanka if peace is maintained and with the economy also on a growth path, visiting Japanese deputy prime minister and finance minister Taro Aso said.“Considering that the Sri Lankan economy keeps on the current growth trajectory and given that peace and security would be […]
Terminal
May 2, 2013 (LBO) – Colombo International Container Terminal Plc, (CICT) a unit of China Merchant Holdings (International) will begin discussions with potential customers shortly with the first berth due to open in July, an official said.SLPA’s existing Jaye container terminals and South Asia Gateway Terminals, owned by listed John Keells Holdings are operating at […]
‘s Chinese coal plant giving cheaper power: CEB engineers
May 03, 2013 (LBO) – A Chinese financed and built plant at Sri Lanka’s state-run Ceylon Electricity Board, is generating power at a lower cost and defects are being gradually rectified, officials of the utility’s engineers union said. The coal plant is expected to generate about 1,800 to 1,900GigaWatts of energy this year, out of […]