Category: Industry
Sri Lanka aims for wind power farm in Mannar
Sept 16, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board envisages installation of 375 megawatts in a wind power in Mannar between 2018 and 2025 as part of a drive to increase power generation from non-conventional renewable energy (NCRE) sources.After the first commercial wind power plants established in 2010, total capacity from wind power increased […]
CEB announces new off peak tariff to charge electric vehicles
Sep 16, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board (CEB) is offering off peak power at 13.00 rupees a unit to charge electric cars at home, a statement said. “In order to facilitate electric vehicle charging, a low off peak tariff of Rs 13 per unit kWh has been offered for seven hours starting […]
Hewlett-Packard to cut 30,000 jobs after split
Sep 16, 2015 (LBO) – Hewlett-Packard on Tuesday officially announced that 30,000 people will have to leave their newly forming company, a separate business primarily associated with enterprise services. HP has presented a plan to deliver 2.7 billion US dollars in ongoing annual cost reductions with the new separation plan. Releasing a statement Hewlett-Packard said […]
Asian stocks up helped by Wall Street rally
Sep 16, 2015 (LBO) – Asian markets opened positive on Wednesday following a day of positive trading in the US markets on Tuesday, foreign media reported. The US markets showed gains of over one percent as investors anticipated a positive two day Federal Reserve meeting that kicks off on Wednesday. However, analysts are still divided […]
Sri Lanka and India to sign a new trade agreement in 2016
Sep 15, 2015 (LBO) – Prime Ministers of India and Sri Lanka on Tuesday pledged to strengthen rapid economic development in both countries through a new agreement based on trade, economy, investment and technology. The statement issued by the Sri Lankan Prime Minister’s office said the draft agreement will be prepared in December this year […]
Section of Colombo Outer Circular Expressway to open Sept 17: JICA
Sept 15, 2015 (LBO) – Sri Lanka’s Kaduwela to Kadawatha section of the Colombo outer circular expressway (E02) will be declared open on September 17, Japan’s development agency JICA said. Lakshman Kiriella, the minister for highways, Kenichi Suganuma, ambassador of Japan to Sri Lanka, and Hiroyuki Abe, senior representative of JICA, will attend the event. […]
Sri Lanka export financing can drive export growth: Verité Research
Sep 15, 2015 (LBO) – Sri Lanka should recognize the importance of export financing especially with regard to the small and medium scale sector to expand existing exports to the world, Verité Research said.Sri Lanka’s share of exports to GDP was 15 percent last year and has been on a declining trend since 2000.The research […]
High number of Sri Lanka vehicle registrations continue: JB Securities
Sept 14, 2015 (LBO) – Vehicle registration momentum continued into August although in most categories the numbers were lower than the all-time records set in July, JB Securities said in a research note. Total registrations were 50,555 in August lower than 62,221 recorded in July – the main contributor to the slowdown was a fall […]
Sri Lanka stocks close up 0.13-pct: JKH warrant 22 hits new low
Sep 14, 2015 (LBO) – Sri Lankan stocks closed up 0.13 percent on Monday following Foreign Minister Mangala Samaraweera’s statement at UN Human Rights Council session with some banks and high cap stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 8.95 points at 7,162.44 higher 0.13 percent. S&P SL20 closed […]
CEB includes nuclear power in generation plan
Sept 14, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board has included a 600 megawatt nuclear power plant as an option for power generation from 2030 onwards, in its long-term generation plan, now open for public discussion.“From a technical point of view, the capacity of the present system is considerably small to accommodate a nuclear […]
Asian stocks mixed amid new Chinese data and Fed uncertainty
Sep 14, 2015 (LBO) – Asian stocks were showed mixed sentiment in cautious trade on Monday, according to foreign media reports as investors grew cautious over new Chinese data released Sunday and an expected Federal Reserve’s policy meeting later this week. Japan shares fell and Chinese markets wavered Monday, after economic data over the weekend […]
Gas not included in Sri Lanka’s power generation plan
Sep 12, 2015 (LBO) – Gas found in the Mannar basin has not been included in Sri Lanka’s long-term power generation plans as discovery of the natural gas resources is still at very early stages, a Ceylon Electricity Board report says. The gas quantities have not been quantified with reasonable accuracy, the report adds, even […]