Author: lbostgadmin
Sri Lanka plans 500MW coal plant in South West
Mar 21, 2013 (LBO) – Sri Lanka state-run Ceylon Electricity Board is planning a 500 MegaWatt eco-friendly coal plant in Ahuruwella, Induruwa in the southwest coast, the island’s power ministry said. Another two 300MW plants are being built in Puttlama now. A power ministry statement quoted power minister Pavithradevi Wanniarachchi as saying that the plant […]
Road Finance
Mar 21, 2013 (LBO) – Sri Lanka will borrow 150 billion rupees (about 1.2 billion US dollars) from domestic banks to build 716.5 kilometers of roads through domestic contractors, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved the plan to borrow money through Treasury guarantees. Sri Lanka’s Road Development Authority had earlier […]
Colombo Metro
Mar 21, 2013 (LBO) – Japan’s aid agency is preparing a transport master plan for Sri Lanka’s capital and its environs leading to the building of a mass transit system which it could finance, officials said.Tetsuji Iida, senior representative of the Japan International Co-operation Agency told LBO that the transport master plan could come up […]
Merchant Bank of Sri Lanka wraps up debenture
Mar 21, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit state-run Bank of Ceylon said it had raised 2.0 billion rupees from listed debenture which was oversubscribed on the opening day. “The money raised from the issue will be utilized to increase the lending portfolio and for the settlement of short term borrowings […]
Sri Lanka to see focus change in future Japan aid
Mar 20, 2013 (LBO) – Japan may gradually shift its aid to Sri Lanka from basic infrastructure to areas such as disaster management, health and education and per capita income rises in the future, officials said.Japanese aid has been concentrated so far in providing basic infrastructure including roads and bridges, but Sri Lanka’s per capita […]
Sri Lanka to start residency scheme for foreign nationals
Mar 20, 2013 (LBO) – Sri Lanka will introduce a residency scheme for foreign nationals who want to work or start businesses in the island as part of a revamp of a dual citizenship scheme, defence secretary Gothabya Rajapaksa said.He said the draft laws to change Sri Lanka’s dual citizenship process are with the legal […]
DFI Credit
Mar 20, 2013 (LBO) – Sri Lanka’s Sampath Bank has signed up medium term credit facilities from Chinese and French development finance institutions, managing director Aravinda Perera said. The bank grew loans 23.7 percent with the help of foreign finance topping an 18 percent ceiling imposed by the regulator for loans with domestic resources. Officials […]
Sri Lanka Sampath Bank raises US$100mn from syndicated loan
Mar 20, 2013 (LBO) – Sri Lanka’s Sampath Bank Plc, said it had raised 100 million US dollars from loan syndicated by HSBC, with Middle Eastern lenders being among top subscribers.Sampath chief executive Aravinda Perera said lenders mainly came from the Middle Eastern, followed by India and some EU banks. The current loan which was […]
Sri Lanka Treasuries yields up
Mar 20, 2013 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with the 6-month yield rising 10 basis points to 10.25 percent, data from the state debt office said.The 3-month yield rose 6-basis points to 9.22 percent and the 12-month yield rose 6-basis points to 11.26 percent. The debt office which […]
Sri Lanka planned land rights legislation queried
Mar 19, 2013 (LBO) – A law to apparently improve people’s absolute property rights while another declared policy is aimed at taking away existing liberties has raised queries whether the moves are intended to benefit interest persons, a legislator has said. Under feudal rule, land was mostly owned by the king. Citizens held and used […]
Paradise Isle
Mar 19, 2013 (LBO) – Sri Lanka’s media, including banned-but-popular news websites, have evidently avoided reporting on the “princely wages” they have just been awarded by a government keen to win over their support.Buoyed by such compliments, media trade unions are unlikely to join the Organisation of Professional Associations (OPA). The Working Journalists’ Association, which […]
Sri Lanka carrier halves Chennai flights after attack on monks
Mar 18, 2013 (LBO) – State-run SriLankan Airlines said it was halving flight to Chennai to 14 a week from 28 from Thursday March 21 following an attack on a visiting Buddhist monk by Tamil groups.“SriLankan Airlines has observed a drop in traffic between Chennai and Colombo due to recent developments in Tamil Nadu, hence […]