Category: Industry
‘s cricket
July 14, 2006 (AFP) – Sri Lanka’s only World Cup winning captain Arjuna Ranatunga is among four cricketers recommended by ex-players to run the sport in the island nation, sources told AFP on Friday.Elections to Sri Lanka Cricket (SLC), scheduled to be held on Saturday, were cancelled on the advice of the country’s President Mahinda […]
Southern Tip
July 13, 2006 (LBO) – Emirates based Star Petro Energy LLC, has secured Sri Lankan government consent to build the country’s second oil refinery in the south of the island, the government said Thursday. Built at a cost of around 1.5 billion dollars, the refinery’s entire output will be shipped to overseas markets, Media Minister […]
New Lease
July 13, 2006 (LBO) – Ceylon Petroleum Corporation has temporarily shelved plans to get back into the gas business, extending a five year agreement with Laugfs Gas that ends in October this year. The two sides have been in talks, with the supply agreement to be extended by another two years from October, a top […]
Sri Lanka President orders cricket elections to be put off
July 13, 2006 (AFP) – Sri Lanka’s President Mahinda Rajapakse has ordered that elections to the country’s cricket body be cancelled and asked former players to run the game, the sports minister said on Thursday. Rajapakse intervened to end bitter infighting in Sri Lanka Cricket (SLC) after a meeting with 11 former cricketers, including World […]
Island TV
July 13, 2006 (LBO) – A new Sri Lankan satellite channel took wing Thursday, with plans to tap into a captive market of customers who lost out to the recent shut down of local cable operators. The first test transmission is to take place before the end of July, after which it will be rolled […]
Trade Block
July 11 (LBO) – A tariff cut of up to 70 percent on goods like cement imported under the Indo-Lanka free trade deal, has been pushed back to September due to procedural delays. This will come into effect by September this year, that is our expectation and we are trying to speed it up, N […]
Lost & Found
COLOMBO, July 12, 2006 (AFP) – Sri Lanka announced Wednesday it would seize an estimated 30 million dollars in dormant bank accounts as part of a drive to clean up commercial bank books. Monetary authorities will use a provision under the Banking Act relating to “abandoned property” to access the dormant funds, Upali de Silva, […]
In Control
KUALA LUMPUR, July 12, 2006 (AFP) – Tony Fernandes, head of budget carrier AirAsia, will ensure the airline remains Malaysian owned and not sell shares to Singapore state investment arm Temasek Holdings, a report said Wednesday. Fernandes, who has a majority stake in Tune Air which in turn owns 40 percent in Asia’s pioneering low […]
Fuelling Wars
July 11 (LBO) – Sri Lanka’s energy minister wants nine billion rupees from the Treasury to settle Ceylon Petroleum Corp’s subsidy bill, as the Treasury tries to free up pricing. We will not raise prices, but we have asked the Treasury for nine billion rupees from January to date to settle CPC’s subsidy bill, or […]
Winning Words
July 11 (LBO) – Sri Lanka™s Editors Guild will honour print journalists Tuesday evening at its annual awards ceremony for journalistic excellence in 2005. Krishni Ifham Virakesari D B Dhanapala Best Journalist of the Year Tamil Sonali Samarasingha The Sunday Leader Mervyn de Silva Journalist of the Year Special Awards for the best students of […]
Quick Sand
July 9, 2006 (LBO) – Sri Lanka will continue to subsidise retail fuel prices in the absence of a new pricing formula, as Colombo threatened to takeover Indian Oil Corp’s local unit if they fail to resume gasoline sales, officials said Sunday. Sri Lanka is a net oil importer, with fuel shipments doubling to 1.6 […]
Oil Conundrum
July 9, 2006 (LBO) – Sri Lanka’s main opposition charged that weak economic management was the cause of galloping inflation in the country and not oil prices.“The government is hiding behind the bunker of oil price rises and driving up inflation by printing money and banks borrowings,” United National Parliamentarian and former Deputy Finance Minister […]