Category: Industry
Patriotic Bonds
Feb. 01 (LBO) – Sri Lanka plans to issue a US$ 25 million sovereign bond to expatriate countrymen this week, to fund the island’s rebuilding efforts, officials said Wednesday. The small issue will not use the country’s credit rating as a marketing tool, but the government is keen to accept any extra bids over an […]
Raising Stakes
Jan 31 (LBO) – Aitken Spence upped its stake in Ace Power Embilipitiya (Private) Ltd.from 50 percent to 74 percent, the Colombo Stock Exchange said Tuesday. Jan 31 (LBO) – Aitken Spence upped its stake in Ace Power Embilipitiya (Private) Ltd. from 50 percent to 74 percent, the Colombo Stock Exchange said Tuesday. Ace Power […]
Big Step
Jan. 31 (LBO) ? Sri Lanka’s leasing industry is asking authorities to allow them to raise public deposits in return for infusing higher capital into the business, industry officials said.Jan. 31 (LBO) ? Sri Lanka’s leasing industry is asking authorities to allow them to raise public deposits in return for infusing higher capital into the […]
Quick Exit
Jan 30(LBO) -Sri Lanka’s Department of Immigration and Emigration is trying to reduce the queue up for passports. Jan 30(LBO) -Sri Lanka’s Department of Immigration and Emigration is trying to reduce the queue up for passports. The national body issuing passports for Sri Lankans to legally leave the island said on Monday, that it will […]
Indian Presence
Jan. 29 (LBO) – Mumbai based UTI Bank has sought a license to set up a commercial bank in Sri Lanka, soon after ICICI bank was given the go ahead to start operations by the Central Bank of Sri Lanka.Pending the license, UTI Bank has tied with Asia Capital, the parent company of Asia Securities, […]
Big Mama
Jan. 30 (LBO) ? Sri Lanka’s state-run Bank of Ceylon said Monday, that a generally upbeat sentiment in business helped its profits swell by 13 percent for the past year.Jan. 30 (LBO) ? Sri Lanka’s state-run Bank of Ceylon said Monday, that a generally upbeat sentiment in business helped its profits swell by 13 percent […]
Capital Building
Sri Lankan venture capital firm, V Capital will invest in the luxury homes business, after exiting all its earlier investments.Sri Lankan venture capital firm, V Capital will invest in the luxury homes business, after exiting all its earlier investments. Formally knows as C F Ventures, V Capital recently restructured under a new, Malaysia based majority […]
Anchors Away
The conditions of a US$ 150 million Asian Development Bank (ADB) loan to part fund Colombo’s long over due port expansion, will be finalized by early February.The conditions of a US$ 150 million Asian Development Bank (ADB) loan to part fund Colombo’s long over due port expansion, will be finalized by early February. A visiting […]
High Power
Jan. 29 (LBR) – Electricity generation costs are likely to jump by 20 percent to around Rs.11.00 a unit once an expensive diesel plant comes on line next year to shore up the crisis riddled energy sector according to an expert.Jan. 29 (LBR) – Electricity generation costs are likely to jump by 20 percent to […]
Garbage In
Jan. 29 (LBR) – Municipal councils are inconsiderate and residents are dumping garbage as the city struggles with managing large amounts of waste. Jan. 29 (LBR) – Municipal councils are inconsiderate and residents are dumping garbage as the city struggles with managing large amounts of waste. Dumping in wetlands and open fields has not only […]
Warning from the sky
Jan. 29 (LBR) – A Sri Lankan research organisation is deploying a satellite dependent early warning system to warn people about natural disasters like tsunamis and cyclones. Jan. 29 (LBR) – A Sri Lankan research organisation is deploying a satellite dependent early warning system to warn people about natural disasters like tsunamis and cyclones. Once […]
Social Constraints
Sri Lankan architects say post-tsunami reconstruction has ignored the coastal community’s social makeup and small neighbourhood lifestyles.Sri Lanka Institute of Architects President Rukshan Widyalankara says the island’s population live in a small neighbourhood setup, with each household establishing its “status” through the size, structure and contents of their homes. “Neighbourhoods thrive on the concept of […]