Category: Industry
Sri Lanka 30MW hydro plant financed by ADB; protection for endangered fish
July 21, 2014 (LBO) – Asian Development Bank is financing a 30MegaWatt hydro plant with a 150 million US dollar credit, and the project will have measures to protect an endangered fish in the river.The Moragolla hydro power plant is estimated to generate 97.7 GigaWatt hours (millions of units of electricity) of energy a year, […]
Cricket: Steyn stars in big South Africa win
GALLE, July 20, 2014 (AFP) – Dale Steyn grabbed a match haul of 9-99 as South Africa thrashed Sri Lanka by 153 runs on the fifth and final day of the first Test on Sunday.Sangakkara was dropped on 65 but failed to take advantage of the reprieve, pulling Duminy to short midwicket where Amla took […]
Cricket: Sangakkara keeps alive Sri Lanka victory dream
GALLE, July 19, 2014 (AFP) – Kumar Sangakkara smashed his 49th half-century as Sri Lanka launched a stunning fightback on the fourth day of the first Test against South Africa on Saturday. De Kock fell on the last ball before the break, lobbing an easy return catch to Perera. Opener Dean Elgar, who made 103 […]
‘s 50
GALLE, July 17, 2014 (AFP) – Rookie batsman Quinton de Kock hit a maiden half-century as South Africa moved to 331-7 at lunch on the second day of the first Test against Sri Lanka on Thursday. De Kock, playing his second Test after making his debut in February, hit six fours in his promising 90-ball […]
Consolidation
July 17, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it will acquire Indra Finance, a finance company linked to a top vehicle retailer for 870 million rupees. Indra Finance had 507 million rupees in equity 73 million rupees in profits and 2.0 billion rupees in assets according to the last balance sheet […]
Pawning Loans
July 17, 2014 (LBO) – Benefits from a state guarantee for gold-backed loans (pawning) will be temporary, a report by Standard & Poor’s, a rating agency said. “The credit guarantee for pawning loans will provide only brief respite to Sri Lanka’s banking industry, which is still struggling to overcome the effects of declining gold prices,” […]
Merger Consultants
June 17, 2014 (LBO) – Sri Lanka’s National Development Bank and DFCC Bank has engaged Boston Consulting Group (India) Pvt Ltd, to advice on a planned merger. The banks said in a joint stock exchange filing that no final decision has been made on the merger. The two banks are merging under a regulatory move […]
Sri Lanka to re-start oil refinery
July 16, 2014 (LBO) – Sri Lanka has repaired an offshore unloading buoy allowing state-run Ceylon Petroleum Corporation to re-start its refinery which was closed due to lack of crude stocks, the petroleum ministry said.The buoy was repaired on July 15 and 50,000 barrels were unloaded yesterday, the ministry said, allowing the refinery to start […]
Top Appointment
July 16, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said Sivakrishnarajah Renganathan, the Bank’s Deputy General Manager Personal Banking has been appointed Chief Operating Officer and Executive Director. The appointment takes effect on July 17. He has been with Commercial Bank for 34 years. In July 2003, he was appointed country manager Bangladesh, […]
Cricket: Sri Lanka plan memorable farewell for Jayawardene
GALLE, July 15, 2014 (AFP) – Sri Lanka are planning to give star batsman Mahela Jayawardene a fitting farewell by winning his remaining matches, captain Angelo Mathews said ahead of the first Test against South Africa starting Wednesday. “They’ve still got these very good players in the team and they are a very strong team […]
Netherlands sees expanding trade and investments with Sri Lanka
Aug 15, 2014 (LBO) – Netherlands is seeking more trade and investment links with Sri Lanka in agriculture, water and health seen as growth areas, with funding also available, officials said. “We are actively looking for new trading partners around the world,” visiting Dutch Vice-Minister for Foreign Trade Simon Mits, who led a trade mission […]
Football: World Cup history for Germany as Goetze sinks Argentina
RIO DE JANEIRO, July 14, 2014 (AFP) – Mario Goetze scored a superb extra-time winner as Germany beat Argentina 1-0 to become the first European team to win a World Cup held in South America on Sunday.Germany’s Neuer won the Golden Glove award for the tournament’s best goalkeeper. The 28-year-old Bayern Munich player was presented […]