Category: Industry
Terminal Appeal
Apr.06 (LBO) – Engineers of the Colombo Port are urging the president to speed up a project to modernise the port’s computer system, which will improve efficiency and maintain its position as a hub port.The Sri Lanka Ports Authority Engineers Union has appealed to President Mahinda Rajapakse to fast track the process of commissioning a […]
Backward Integration
Apr.05 (LBO) — Cellular operator Mobitel (Pvt) Ltd hopes to double subscriber growth and plans to start test runs for third generation network next month, its chief executive said Wednesday. A fully owned subsidiary of Sri Lanka Telecom, the island’s largest fixed-line operator, Mobitel is on target to complete their US$ 140 to 150 million […]
Oily Row
Apr. 05 (LBO) – India has slapped a countervailing duty of between US$28-32 per metric tonne on vanaspati oil shipments from Sri Lanka, raising the stakes in a trade dispute that has been simmering for several months. -Mel Gunasekera: mel@ Imposed through the recent Indian budget, the levy comes at a crucial time, as both […]
‘s Test career ends in pain
KANDY, Apr.04 (AFP) – Former Sri Lankan captain Sanath Jayasuriya ended his Test career on a painful note on Tuesday when he suffered a thumb injury during the second Test against Pakistan here. Jayasuriya, 36, needed several stitches on his right thumb that was split while catching Pakistani opener Imran Farhat in the gully region […]
Little Treat
Apr.04 (LBO) – Sri Lanka Tuesday formalised an US$8.5 million grant on top of an already pledged US$7.0 million by Switzerland towards tsunami rebuilding work, the finance ministry said. The additional funds will be used to build owner driven housing programme in Matara and Trincomalee districts. Todate, a total of 8,617 houses have been rebuilt […]
Switching Gears
Apr.04 (LBO) – Sri Lanka’s Associated Motorways Ltd said Tuesday that they had invested Rs. 100 million to start a fully owned leasing company. AMW Capital Leasing Ltd was incorporated on February 23, and the firm is awaiting Central Bank’s approval to start business, AMW’s Company Secretary D Kumarasinghe said in a statement. -LBO Newsdesk: […]
Pakistan Tie
Apr.03 (LBO) – Sri Lanka has asked the Pakistan government to start a Colombo-Karachi ferry service and liberalise air services during President Mahinda Rajapakse’s recent state visit to the neighboring country, a senior government minister said. -Jayantha Kovilagodage: jayantha@ “At the moment there are three flights a week to Pakistan from Sri Lanka, and two […]
Jayasuriya’s Test career ends in pain
KANDY, Apr.04 (AFP) – Former Sri Lankan captain Sanath Jayasuriya ended his Test career on a painful note on Tuesday when he suffered a thumb injury during the second Test against Pakistan here. Jayasuriya, 36, needed several stitches on his right thumb that was split while catching Pakistani opener Imran Farhat in the gully region […]
Quick Chat
Apr. 03 (LBO) – Sri Lanka will take up thorny issues like shipments of pepper and vanaspati oil to India, when both sides meet for trade talks in Colombo this month, an official said Monday. Four days of trade talks between the two nations under the Comprehensive Economic Partnership Agreement or CEPA are due to […]
New Feather
Apr.03 (LBO) – Sri Lanka’s Hemas Holdings Ltd Monday announced the appointment of Lalith de Mel as the group’s chairman. Husein Esufally will continue to lead as Chief Executive Officer of the family owned conglomerate. De Mel has served on the Hemas Board since 2003 and has been closely involved in its transformation as a […]
Sugar Power
April 03 (LBO) — Pelwatte Sugar has applied to the Ceylon Electricity Board to build a 25MegaWatt power plant fired by sugar cane waste, making it the largest dendro power plant proposed in Sri Lanka up to now.The company submitted the application after a recent cabinet decision raised the limit for buying power from dendro […]
Wired World
Apr. 03 (LBO) – Computer sales in Sri Lanka are forecasted to grow 11 percent by 2011, largely driven by demand from public sector, telecom and financial sectors, an IT study released Monday said. In 2005, sales of new computers rose 11 percent to 102,208 in Sri Lanka, despite risky peace talks and the after […]