Category:
Road Finance
Feb 22, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a 3.2 billion rupee long-term loan to the state to finance the rebuilding of 37.5 kilometres of priority roads in the central part of the island, the state information office said.The loan will be used to re-build road sections of 33.50 to 44.0 […]
Management Ideas
Feb 22, 2013 (LBO) – The faculty of management studies and commerce of the University of Sri Jayewardenepura is holding an international conference with papers to be presented by participants from Malaysia, Poland, France and India in addition to Sri Lanka.The ‘International Conference on Business Management’ will be held on February 28 and March 01 […]
Sri Lanka and Korea air links to expand
Feb 22, 2013 (LBO) – Sri Lanka and Korea has liberalized an air services agreement allowing traffic rights to third countries which is expanding air links between the capitals of the two countries, the foreign ministry said.A new air services agreement had been signed on February 20 allowing Korean Air to fly to Maldives and […]
Sri Lanka medical officers to get Allianz cover
Feb 22, 2013 (LBO) – Members of Sri Lanka’s Government Medical Officers’ Association (GMOA) will be able to get motor insurance with professional liability cover, insurer Allianz Lanka said.Under an agreement signed with GMOA, its member will get motor insurance with free flood and natural disaster cover, with professional liability. “We are sure this will […]
Sri Lanka power regulator trims proposed expenses
Feb 22, 2013 (LBO) – Sri Lanka’s power regulator has trimmed 33 billion rupees or about 12 percent of expenses proposed by the state-run Ceylon Electricity Board in the second step to revising power tariffs.Large volumes of bank loans taken to subsidize energy from mid 2011, which were ultimately accommodated with central bank credit (printed […]
‘s NTPC may drop Sri Lanka coal power project: report
Feb 22, 2013 (LBO) – India’s state-run National Thermal Power Corporation (NTPC) may pullout of a 500 MegaWatt coal power plant joint venture with Sri Lanka’s state-run Ceylon Electricity Board, a media report said. India’s Financial Express newspaper in an online report said NTPC had sought permission from Indian authorities to withdraw two of its […]
Sri Lanka forum highlights risks to ocean resources
Feb 22, 2013 (LBO) – Sri Lanka’s future lies in the vast resources to be found in the ocean surrounding the island but this wealth is at risk from pollution and illegal practices, experts said. The country is on the verge of discovering oil and gas in offshore waters and its location makes it well-placed […]
Difficult Terrain
Feb 21, 2013 (LBO) – United Motors Plc, agents for Mitsubishi in Sri Lanka launched a 1.2 litre engined Mirage car into an auto market that has been dented by a tax-hike, high interest rates and currency depreciation. “We are not very ambitious with the current taxation and where the yen is,” managing director Chanaka […]
Bridge Financing
Feb 21, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a loan of 6.779 million sterling pounds equivalent in dollars as part financing to construct 210 steel bridges, the state information office said.The cabinet of ministers had given the nod to enter into the loan contract at the rate of 6.0 percent above […]
Sri Lanka textile mill boosts revenue, profits
Feb 20, 2013 (LBO) – Sri Lanka’s Kuruwita Textiles said boosted revenues 31 percent in the December 2012 quarter from a year earlier and profits rose 20 percent to 15.9 million rupees, despite narrower margins interim accounts showed. He said the company was working on new customers and strengthening existing relationships and was also working […]
Sri Lanka urban index finds prices rising 20-pct over year
Feb 21, 2013 (LBO) – An index that tracks key essential expenses of urban middle class households in Sri Lanka has found that prices rose more than 20 percent over the past year, about double that of a widely watched official index.The Capital Alliance index will maintain a fixed basket using a Laspeyres formula, named […]
Sri Lanka Treasuries yield frozen
Feb 20, 2012 (LBO) – Sri Lanka’s Treasuries yields were kept flat Wednesday’s auction with only 14.9 billion rupees in bids for 20 billion rupees of bills being offered at the auction being accepted, data from the state debt office showed. The debt office which is a unit of the Central Bank said 926 million […]