Category: Industry
Sri Lanka CEB sees USD13 bn investment in power plants over next 20 years
Sep 11, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board says the total estimated cost to implement the 2015-2034 long-term electricity generation plan is approximately 13 billion US dollars. The generation plan says: “The total investment required for implementing the Base Case Plan 2015-2034 in the next 20 years is approximately USD 12.96 Billion without […]
Sri Lanka stocks close down 0.09-pct
Sep 11, 2015 (LBO) – Sri Lankan stocks closed down 0.09 percent on Friday mainly on concerns of exchange rate and balance of payment issues with some telecom and banking sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 6.45 points at 7,153.49 lower 0.09 percent. S&P SL20 closed […]
Fitch affirms Citibank Colombo branch at AAA
Sep 11, 2015 (LBO) – Fitch Ratings Lanka has affirmed Citibank Colombo Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS NATIONAL RATINGS CitiSL’s rating is the highest on the National Rating scale and reflects the credit profile and financial strength of Citibank, N.A. (A+/Stable). Citibank, N.A.’s rating is higher than Sri […]
Sri Lanka’s foreign affairs deputy Harsha de Silva says “This is where the game is”
Sep 11, 2015 (LBO) – Sri Lanka’s new Deputy Minister of Foreign Affairs Harsha de Silva told Lanka Business Online that discussions are on to develop a foreign policy towards achieving the island’s economic goals through diplomacy, and he is excited about the new task given. “This is a good opportunity,” de Silva said. “We […]
Laugfs to set up solar power plant in Hambantota
Sept 11, 2015 (LBO) – Laugfs Holdings Ltd. has acquired two solar panel projects with a plan to set up the largest solar power generator in the island. Laugfs Power, which is a unit of Laugfs Gas PLC, has acquired Anorchi Lanka Ltd, and Irish Eco Power Lanka Ltd, which have rights to build two […]
SriLankan Airlines appoints new CEO
Sep 10, 2015 (LBO) – SriLankan Airlines has appointed Captain Suren Ratwatte as the new chief executive officer of the airline with effect from October 2015.The airline said in a statement that Captain Ratwatte is an airline pilot with over 30 years of experience in the field whose first appointment was with SriLankan’s predecessor, Air […]
Youth unemployment can be addressed through technical training: Susil
Sep 10, 2015 (LBO) – Sri Lanka can overcome its youth unemployment issue by developing technical education, the newly appointed minister for technology says.“Although unemployment as a whole is six percent, in the age group between 18 – 30 it is over 20 percent,” Susil Premajayantha, the new minister of technology, technical education and employment […]
Reforms needed for better Sri Lanka female labor force participation: World Bank
Sep 10, 2015 (LBO) – Legal discrimination, which can affect female labor force participation, is prevalent in Sri Lanka, a new World Bank report says. “Women are prohibited from working in the mining sector and restricted from certain tasks/functions in factories,” the World Banks group’s Women, Business and the Law 2016 report, released Wednesday said. “Moreover, there […]
Sri Lanka’s Hambantota port to be developed with dockyard facility
Sep 09, 2015 (LBO) – Sri Lanka’s Hambantota Port is to be developed with dockyard facilities at the port at an estimated cost of two billion rupees, media reports said.A Chinese company has responded positively to Ports and Shipping Minister Arjuna Ranatunga’s call for expression of interests from potential investors to build dockyard facilities at […]
Sri Lanka fruit exports up 51 pct, vegetables up 25 pct in 2014: CCC
Sep 09, 2015 (LBO) – Sri Lanka’s earnings from exports of fruits and vegetables during the year 2014 has increased compared to the previous year, the Ceylon Chamber of Commerce said. Referring to a study conducted by them, the chamber said earnings from fruit exports has seen the biggest jump, accounting for a 51 percent […]
Netflix to enter Asia in 2016
Sep 09, 2015 (LBO) – Netflix, an on-demand internet and video streaming pioneer, with a subscriber base of 65 million in 50 countries will enter Hong Kong, Taiwan, Singapore and South Korea early next year, foreign media reports said. According to a press release that was posted in Chinese on its website and taken down, the […]
Sri Lanka should reduce oil prices: Gammanpila
Sep 09, 2015 (LBO) – Sri Lanka should pass the benefit of falling crude oil prices to consumers, Parliamentarian Udaya Gammanpila said. Speaking at a press briefing Gammanpila asked the government to reveal the reason as to why the reduction is being delayed. The benchmark US crude oil price has hit a six-year low recently […]