Author: lbostgadmin
Yamaha to set up 3rd plant in India; to enter scooter segment
NEW DELHI, (Asia Pulse) – Motorcycle maker India Yamaha Motor plans to set up its third plant in the country, for which it has started scouting for land in Karnataka and Tamil Nadu. The company, which plans to invest Rs 800 crore in the next two years, on capacity enhancement, said it expects to sell […]
Cargo Handling
Jan 07, 2012 (LBO) – The Sri Lanka Ports Authority has acquired the last consignment of tractors under an equipment upgrade for its container terminal in Colombo port that will replace aging assets and improve efficiency. The SLPA has taken delivery of 50 yard tractors under its 100 million US dollar equipment upgrade with previous […]
Sri Lanka gets more apparel plants
Jan 06, 2012 (LBO) – Apparel exporters Timex and Fergasam Group will build two factories at a cost of five million US dollars in Sri Lanka’s north-western Mannar, part of the former war zone, the ministry of industry and commerce said. Timex and Fergasam currently employs more than 8,000 across its 16 manufacturing facilities with […]
Mercedes launches luxury SUV, open top roadster in India
NEW DELHI, Jan 6 (AsiaPulse) – Premium car maker Mercedes-Benz on Thursday launched a luxury SUV, M-Class, which is priced at Rs 58-60 lakh, and an open top vehicle, SLS AMG Roadster, that comes for about Rs 3 crore (US$568,830). The German auto major also showcased the future design cues through Concept A-Class and fuel […]
Sri Lanka tourist arrivals up 31-pct in 2011
Jan 06, 2012 (LBO) – Sri Lanka’s tourist arrivals in 2011 jumped 30.8 percent to a record 855,975 from a year ago with the peak season month of December also at a new high, the tourism office said. The South Asia region accounted for the second biggest increase in arrivals which shot up 35. 3 […]
Parental Support
Jan 06, 2012 (LBO) – Fitch Ratings Lanka has upgraded People’s Leasing Company’s (PLC) National Long-Term rating to ‘A+(lka)’ from ‘A(lka)’ and People’s Finance’s (PF) to ‘A-(lka)’ from ‘BBB(lka)’. The outlooks on both ratings are stable, the rating agency said in a statement. PLC’s outstanding 1,155 million rupee senior unsecured redeemable debentures have also been […]
Road Plan
Jan 06, 2012 (LBO) – Sri Lanka has started a study to plan new roads to ease congestion in the capital Colombo and provide fast connections to expressways, the head of the island’s Road Development Authority said. RDA chairman R W Pemasiri said heavy congestion is seen on High Level Road, Baseline Road and from […]
Sri Lanka stocks close 0.2-pct weaker
Jan 06, 2012 (LBO) – Sri Lankan stocks closed weaker Friday for the fourth day running with a private deal in a bank where foreigners have been selling out bolstering the thin turnover, brokers said. Environmental Resources Investments shares and warrants were heavily traded with the firm announcing it plans to delay conversion of warrants […]
Sri Lanka pension fund should publish annual report: legislator
Jan 06, 2012 (LBO) – Sri Lanka’s main opposition has called for the immediate publication an annual report of the island’s largest pension fund also questioned state plans for a 30-storey building using private citizens’ pension money. A pension (which involves a monthly annuity) will allow the state and rulers to control the private sector […]
Sri Lanka gold imports surge to U$600mn in 2011
Jan 05, 2012 (LBO) – Sri Lankans have spent a record 600 million dollars of gold in 2011 up more than seven times from the 82 million US dollars a year, the central bank said, as demand and prices for the precious metal rose. Before the creation of the Federal Reserve Bank gold was just […]
Sri Lanka village producers helped by Japanese volunteers
Jan 05, 2012 (LBO) – A team of Japanese volunteers had helped village level producers to develop new products and upgrade designs to get higher prices, the Japan International Co-operation agency said. Three volunteers had worked with the island’s Samurdhi Authority, a poverty alleviation agency, to help families in several areas. These volunteers had helped […]
Japanese deputy premier tours Sri Lankan hydro power plant
May 5, 2012 (LBO) – Japan’s Deputy Prime Minister Katsuya Okada, began his second day in Sri Lanka on Saturday touring the island’s last hydro power plant that is being built with Japanese assistance. The underground Upper Kotmale tunnel, is also Sri Lanka’s longest tunnel, with a distance of 12.9 kilometers. The tunnel was finished […]