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Sri Lanka hit by cascading power outage
Nov 28, 2010 (LBO) – Sri Lanka was hit by cascading outage Sunday afternoon after a key transmission line tripped out of the national grid, but officials at the state-run power utility said electricity was restored before nightfall. Power failed in most part of the island after a transmission lines from the Kotmale and Victoria […]
Sri Lankan spinners impress in drawn Windies Test
November 27, 2010 (AFP) – Sri Lanka’s spinners, led by Rangana Herath, put in an impressive performance as the second Test against the West Indies ended in a draw on the fifth and final day on Saturday. Left-armer Herath removed Dwayne Bravo, Sulieman Benn and Carlton Baugh as the West Indies were bowled out for […]
Sri Lanka, India pre-war air, sea links to resume
Nov 27, 2010 (LBO) – Pre-war air and ferry links between south India and northern Sri Lanka should resume to improve contacts between people and strengthen the local economies, Indian foreign minister S M Krishna said. With the end of the 30-year ethnic war in May 2009, both governments want to resume the old ties […]
‘s former war zone
November 27, 2010 (AFP) – India’s foreign minister visited Sri Lanka’s former war zone on Saturday after urging Colombo to share political power with minority Tamils following last year’s end to the ethnic conflict. Analysts have said New Delhi is concerned that a new port funded by Beijing is part of a Chinese policy to […]
India shrugs off Chinese influence in Sri Lanka
November 26, 2010 (AFP) – India has no worries about rival China’s expanding ties with Sri Lanka, India’s foreign minister said on Friday, a week after Colombo unveiled a 1. 5-billion-dollar Chinese-funded port. S.M. Krishna, who met Sri Lankan President Mahinda Rajapakse earlier in the day, said Colombo’s ties with Beijing and other capitals would […]
Sri Lanka, India talks on sharing offshore oil, maritime border
Nov 27, 2010 (LBO) – India and Sri Lanka are to hold talks soon on sharing offshore petroleum resources straddling their maritime boundary and resolving conflicting claims to the continental shelf, an official said. A meeting of officials of the two neighbours is to be convened “at an early date”, said a statement at the […]
Rail Fund
Nov 26, 2010 (LBO) – Sri Lanka and India has inked a deal for a 416 million US dollar credit from India’s export import bank to rebuild railways in the island’s war-torn north, a government statement said. The president’s office said the deal was signed between Nadeem Panketan, managing director of the Indian export import […]
Rating Strength
Nov 26, 2010 (LBO) – Sri Lanka’s HSBC branch’s ‘AAA(lka)’ long term rating has been confirmed with a ‘stable’ outlook backed by the ‘AA’ rating of Hongkong & Shanghai Banking Corporation Limited, Fitch Ratings Lanka said. By end June, the Sri Lanka branch of HSBC had increased its loan book 6.4 percent after contracting 12.4 […]
Sri Lanka gets more Indian aid for coal power plant
Nov 26, 2010 (LBO) – India is giving Sri Lanka a 200 million US dollar soft loan to help its cash-strapped power utility proceed with a joint venture 500 MegaWatt power plant on island’s east coast, a statement said. India is also offering financial support for the equity contribution of the Ceylon Electricity Board (CEB) […]
Sri Lanka Hemas expects govt to honour power deals
Nov 26, 2010 (LBO) – Hemas Holdings group expects Sri Lanka’s government to honour power purchase agreements with investors who set up private power plants and helped ward off power cuts despite talk of renegotiating them, a senior official said. Hemas chief executive Husein Esufally said private power suppliers had not been officially informed the […]