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Sri Lanka power firm finances could improve in May: official
April 29, 2009 (LBO) – The finances of Sri Lanka’s cash-strapped state-run power utility, Ceylon Electricity Board (CEB), could improve in May, a top official said, as dry weather forced it to buy expensive thermal energy, running up debts. The CEB can store 1,200 million units (GigaWatt_hours) worth of water at its reservoirs but it […]
Sri Lanka focuses on clean, low-cost lighting
April 29, 2009 (LBO) – Sri Lanka has set up an energy efficient lighting centre with United States support aimed at promoting clean and low-cost lighting technologies in the south Asian region. “Providing access to electricity is a critical factor in supporting economic development throughout the region,” James Moore, U.S. Embassy Charge d’Affaires, was quoted […]
British, French FMs arrive in Sri Lanka
April 29, 2009 (AFP) – The foreign ministers of Britain and France, David Miliband and Bernard Kouchner, arrived Wednesday in Sri Lanka, officials said, looking to negotiate a humanitarian ceasefire in the island’s civil war. Amid mounting international concern about the plight of civilians caught up in the fighting between government troops and Tamil Tiger […]
US airs concern on Sri Lanka, mum on Swedish row
WASHINGTON, April 28, 2009 (AFP) – The United States voiced concern Tuesday about reports of continued heavy shelling in Sri Lanka but stayed out of a row over the Swedish foreign minister’s failure to receive a visa for the island. “I’m not familiar with the circumstances surrounding this visa issue, and have to refer you […]
Rail Freight
April 28, 2009 (LBO) – Sri Lanka’s state-run railway service has started a goods wagon repair workshop aimed at improving maintenance and more carriage of freight in order to increase revenues, senior officials said.Transport Minister Dallas Alahapperuma said the government wants to reverse years of neglect of the railway that has reduced it to making […]
Merchant Deal
April 28, 2009 (LBO) – Merchant Bank of Sri Lanka (MBSL) said it had almost completed a deal to take control of Ceylinco Savings Bank, a member of the troubled Ceylinco group, for 100 million rupees.MBSL, a unit of state-run Bank of Ceylon, had been in talks with the banking regulator, the Central Bank, to […]
” by Sri Lanka to deny Swedish FM visa: EU
LUXEMBOURG, April 28, 2009 (AFP) – The European Union lashed out on Tuesday at Sri Lanka’s decision to deny a visa to Swedish Foreign Minister Carl Bildt, describing the move as a “grave mistake” and warning Colombo of repercussions.“It is lamentable that the Sri Lankan government denied him a visa,” Czech Foreign Minister Karel Schwarzenberg, […]
Sri Lanka on alert for swine flu
April 28, 2009 (AFP) – Sri Lanka’s airports and hospitals have been put on alert for swine flu, a health official said Tuesday. “The country has been put on alert for a possible outbreak of swine influenza,” said Paba Palihawadana, the chief epidemiologist at the state-run epidemiology unit. Surgical masks and medicines have been distributed […]
Sri Lanka stocks open up, rupee steady
April 27, 2009 (LBO) – The Sri Lanka rupee opened at 120.10/40 against the spot dollar Monday dealers said, while stocks opened 0.46 percent up, following week of strong gains. Seylan Bank, of which 33 percent is being sold to a strategic partner by the Central Bank opened up 1.00 rupees at 39.75. Sampath opened […]
Sri Lankan stocks dip, rupee steady against dollar
Apr 27, 2009 (LBO) – Sri Lanka shares shed some of last week’s gains to close down across the board Monday due to profit taking, as the rupee remained steady against the dollar, brokers and traders said. Conglomerate John Keells Holdings, which has interests in transport, finance, property development, retail and food processing sectors, gained […]
Asset Sale
April 27, 2009 (LBO) – Sri Lanka’s Ceylinco Finance said it has decided to sell some of its assets to raise funds to improve its liquidity position.“The company made a decision to divest certain selected businesses and assets including property in Colombo, and land and buildings in suburban areas,” the company said in a stock […]
Top Marks
April 27, 2009 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said its Bangladesh operations have been given an ‘A’ rating by the banking regulator in that country. Last year, the Commercial Bank’s operations in Bangladesh was awarded a rating of AA+ for long term credit, an upgrade from the previous rating of AA, by […]