Author: lbostgadmin
‘s Lighthouse Hotel net down 29-pct
Apr 25, 2013 (LBO) – Profits at Lighthouse Hotel Plc, a unit of Sri Lanka’s Jetwing group fell 29 percent to 57.1 million rupees in the first quarter of 2013, interim accounts showed. The firm reported earnings of 1.24 rupees for the quarter, in accounts filed with the Colombo Stock Exchange. In the year to […]
Rolling
Apr 25, 2013 (LBO) – A 43 kilometre stretch of Sri Lanka’s Northern Railway line has been re-built to allow trains to be run up to a speed of 120 kilometres, Ircon, an Indian state-run transport engineering firm said.Ircon said the 120 kilometre speed capable track has been laid with pre-stressed concrete sleepers and rail […]
India says aid projects progressing in Sri Lanka
Apr 24, 2013 (LBO) – An Indian foreign ministry committee has evaluated the progress of several projects funded by the country’s tax payer in Sri Lanka mainly in war torn areas in the north.India’s High Commission (embassy) in Colombo said a monitoring committee led by P S Raghavan, special secretary development administration and Bimal Julka, […]
Slipping
Apr 24, 2013 (LBO) – Demand for lubricants fell in the first quarter, on the back of a slowing economy and lower thermal power generation but profits at Sri Lanka’s Chevron Lubricant unit profits rose amid falling expenses, interim accounts showed.Floods had also hurt agriculture and users were moving to longer lasting higher technology lubricants. […]
‘s Hemas buys into Panasian Power
Apr 24, 2013 (LBO) – Sri Lanka’s Hemas Power Plc has bought a 20 percent stake in Panasian Power for 300 million rupees, upping the group stake to 29.3 percent, the company said. The 100 million share stake was bought for 3.00 rupees each from Power Hub International Sdn, Bhd, Malaysia. Hemas Power subsidiaries Okanda […]
Sri Lanka to pay lower charges if expired power plants are renewed
Apr 24, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has been given guidelines to negotiate much lower rates if expired contracts of power plants are extended, a top official said.“The CEB had been given strict guidelines to negotiate much lower charges if they are needed,” power ministry secretary M M C Ferdinando said […]
‘s current and ex-power ministers
Apr 24, 2013 (LBO) – A battle has sparked between Sri Lanka’s current and ex-power ministers following a hike in tariffs which has already drawn fire from opposition parties. Former power minister Champika Ranawaka denied he initiated a tariff hike after media reported that current minister Pavithra Wanniarachchi as saying she only completed the task […]
Sri Lanka Access group to build US$12mn 25-floor office tower
Apr 24, 2013 (LBO) – Sri Lanka’s Access group will build a 12 million US dollar office tower next to an existing building in Colombo’s Union Place, the state investment promotion agency said. Sri Lanka’s Board of Investment which gives tax breaks to investments said the office complex built on a 74-perch block is expected […]
Sri Lankans to apply online for UK visa from May 06
Apr 24, 2013 (LBO) – Sri Lankans visiting the UK should apply online from Monday May 06, the British High Commission in Colombo said.Manually completed applications will no longer be accepted but a printout of the applications and supporting documents should be taken when an applicant visit the visa centre, using an appointment issued online. […]
Sri Lanka rupee held below Rs127.00 to US dollar
Apr 24, 2013 (LBO) – Sri Lanka’s rupee steadied at slightly below 127.00 rupees to the US dollar in the spot market helped by selling from a state bank that usually acts for the monetary authority, dealers said. The spot US dollar was quoted around 126.90/127.00 when a state name entered the market with a […]
Gold prices edge up in Sri Lanka
Apr 23, 2013 (LBO) – Sri Lanka’s gold prices have risen slightly from a week earlier along with a recovery in the international prices, industry players said.On Tuesday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 46,000 rupees for 22 carats, after falling from highs of 54,000 in March, […]
‘s CEB to re-negotiate heat rate of West Coast plant
Apr 23, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board will re-negotiate the heat rate of a controversial 270 MegaWatt power plant, officials said, which was brought in to the grid without competitive bidding.Power ministry secretary M M C Ferdinando, responding to questions at a meeting of media heads with President Mahinda Rajapaksa, Monday […]