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Sri Lanka Mihin Lanka losses mount, assets negative
June 10, 2011 (LBO) – Sri Lanka’s state-run Mihin Lanka, a budget carrier, has lost 5.8 billion rupees since it was started in 2007 and it had a 5.6 billion rupee gap in the balance sheet despite capital injections from people’s tax money, official data shows. According to data the state had injected 2. 7 […]
‘s Tharanga
June 8, 2011 (AFP) – The International Cricket Council has initiated action against Sri Lanka’s opening batsman Upul Tharanga after he failed a dope test, the island’s cricket governing body said Wednesday. It said Tharanga had claimed that he was given a steroid by a faith healer in Colombo who also treated other international players. […]
Offshore Support
June 09, 2011 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has begun building the second vessel in a contract for oil platform supply vessels from Greatship Global Offshore Services of Singapore. The vessel is also designed to accommodate 50 people. The keel for the Multipurpose Platform Supply Vessel, scheduled for delivery in the second quarter […]
Nano Cabs
June 09, 2011 (LBO) – A city taxi service using Tata Nano cars has started in Sri Lanka’s capital Colombo, but the firm cannot cope with demand for hires and is awaiting shipments from India to expand the fleet, an official said. But Dharmadasa says the firm can hardly cope with demand from local customers, […]
Labour Position
June 09, 2011 (LBO) – Sri Lanka was elected as a deputy member of the International Labour Organisation™s (ILO) governing body during the 100th International Labour Conference now underway in Geneva, Switzerland. The ILO governing body includes 56 regular and 66 deputy members representing the three groups that make up the ILO™s membership; governments, employers […]
New Era
June 8, 2011 (AFP) – Sri Lanka is to finally scrap its telegraphic service, which has been overtaken by mobile phones and the Internet and handles just 50 telegrams a day, an official said Wednesday. Transmitting telegrams using a network of postal messengers across the country was too expensive, postal ministry secretary Hemasiri Fernando said, […]
Sri Lanka Panasian Power controlling shareholder reduces stake
June 09, 2011 (LBO) – The Malaysian controlling shareholder of Sri Lankan mini hydro firm Panasian Power reduced its control with the sale of a large stake in trades which boosted market turnover on the Colombo bourse Thursday. Power Hub International Sdn Bhd sold 68, 325,100 shares of Panasian Power in three lots at eight […]
Sri Lanka gets IFC funds for wind power
June 09, 2011 (LBO) – The International Finance Corporation, part of the World Bank group, is investing 3.8 million US dollars in Sri Lanka’s SENOK group to support its wind power projects. “IFC’s investment will help develop SENOK’s capacity in renewable energy and support the company’s plans to adopt global environmental and social practices,” a […]
Sri Lanka state textile trader; no accounts
June 9, 2011 (LBO) – Lanka Salusala, a Sri Lankan state textile trading firm has not released audited accounts from 2004, had excess staff, unsettled loans and its performance could not be measured, a finance ministry report said. In a related development Sri Lanka’s Daily FT newspaper reported that the trade ministry has requested the […]
Sri Lanka bill yields steady
June 08, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at this week’s auction with the 3-month yield edging up 01 basis point to 7. 11 percent and the 12-month yield flat at 7.35 percent, the government’s debt office said. The 6-month yield rose 01 basis point to 7. 21 percent. The debt office […]