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SriLankan Airlines wins award for fuel saving software
Oct 20, 2010 (LBO) – SriLankan Airlines has won a merit award at the island’s national software awards for its fuel management information system that enabled it to cut fuel costs and aircraft emissions, a statement said. The National Best Quality Software Awards 2010 (NBQSA) honours innovations in information technology and are presented annually by […]
Sri Lanka state power utility to lose less than expected
Oct 20, 2010 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board may lose only half the originally expected 40 billion rupees in 2010 with the utility already covering operation costs in June, July and August, power minister Champika Ranawaka said. A 155 billion rupee loan taken from China Export Import Bank to build a 900 […]
Sri Lanka signs US$82mn hydro power deal with China
Oct 20, 2010 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has awarded a 35MegaWatt 82 million US dollar hydro power plant deal to China, power minister Champika Ranawaka said. Another smaller diversion weir 48 meters long and 19 meters high will be built across the Kehelgamu Oya and water brought through an 850 meter […]
Sri Lankan exporters said not making use of free trade deals
Oct 20, 2010 (LBO) – Sri Lankan exporters are still not making enough use of free trade deals giving duty free or preferential access to big markets, a senior trade official said. “It appears some exporters and importers are paying a few million dollars in duty for which they are entitled to duty free access. […]
Sri Lanka can have growth, low inflation if budget deficit is tamed: IMF
Oct 20, 2010 (LBO) – Sri Lanka’s recently controlled inflation and an economic recovery can be maintained if state deficit spending can be tamed, giving ordinary citizens a chance to engage in growth creating economic activities, the International Monetary Fund has said. The IMF, in a statement issued following the annual ‘Article IV’ consultations with […]
Sri Lankan stocks close up 1.22-pct
Oct 19, 2010 (LBO) – Sri Lankan shares made a comeback Tuesday, boosted by gains from banking sector stocks that weigh heavily on the index, while a big private deal in a hospital boosted turnover past three billion rupees, brokers said. John Keells Holdings, an index heavy conglomerate closed at 310.00 rupees, up 1.00 (0.32 […]
Hospital Strategy
Oct 19, 2010 (LBO) – Sri Lanka™s Asiri Hospital has bought a 10 percent stake in Asiri Surgical Hospital for 500 million rupees increasing its stake to 40 percent, managing director, Ashok Pathirage said. State-run Sri Lanka Insurance Corporation sold the stock for 9.50 rupees a share Tuesday, he said. SLIC had a 22 percent […]
‘s corals hit by mass die-out
SYDNEY, October 19, 2010 (AFP) – Coral reefs in Southeast Asia and the Indian Ocean are dying from the worst bleaching effect in more than a decade, Australian marine scientists said Tuesday. The bleaching, triggered by a large pool of warm water which swept into the Indian Ocean in May, has caused corals from Indonesia […]
Sri Lanka raises defence spending by six percent
October 19, 2010 (AFP) – Sri Lanka announced Tuesday it would raise defence spending by six percent in 2011 — broadly in line with annual hikes announced during the government’s war with Tamil rebels. Sri Lanka’s fiscal deficit shot up to 9.7 percent of gross domestic product in 2009, exceeding the seven percent target set […]
SriLankan Airlines adds flights to India
Oct 19, 2010 (LBO) – SriLankan Airlines plans to improve connections to major Indian cities by adding several flights to Mumbai, Chennai and Bangalore, a statement said. Also, large numbers of Indian travellers transit Colombo to destinations as far as North America, Europe and the Far East, as well as nearer regions such as the […]