Category: Industry
Vehicle Trend
Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed.More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent a […]
Private Equity
Apr 21, 2014 (LBO) – Sri Lanka needs private equity to play a bigger role in financing business which will help them grow faster with less leverage and become world beating firms, the Central Bank said. Financial sector professionals have attributed it to lack of skills of those who were taken to manage them, some […]
Cash Drawdown
Apr 21, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said customers withdrew a record 2.05 billion rupees from teller machines on Friday April 11, a new daily high in the run up to a traditional New Year holiday. The number transactions processed was 245,000 lower than a previous record of 325,000 which the […]
Tax Charge
Apr 21, 2014 (LBO) – A 10 percent transfer tax will be imposed when a vehicle bought on a duty-slashed permit given to Sri Lanka state workers are transferred to a private citizen, a media report said.Sri Lanka The Sunday Times newspaper citing a circular by the Ministry of Finance said a vehicle that is […]
Take Home
COPENHAGEN, April 20, 2014 (AFP) – A Danish website is turning private homes into take-away restaurants by letting users advertise what they are cooking, when and for what price.“Sometimes I only put one serving up for sale, sometimes up to 20. It depends on what I’m making and how much time I have,” said Ana […]
Precision Persistence
Apr 18, 2014 (LBO) – The founder of a 40 million US dollar Sri Lanka based precision tech company whose entry in to the automotive supply chain epitomizes persistence said he was helped by cultural interaction and trust.He said his knowledge of the Japanese language and culture also helped him break into the automotive supply […]
Sri Lanka air passenger handling up 3.3-pct in 2013
Apr 17, 2014 (LBO) – Sri Lanka main international airport has handled 7.3 million passengers, including transit travellers, up 3.3 percent from a year earlier, while aircraft movements rose 5 percent to 50,802. During the year British Airways, Korean Airlines, Air Asia X and Turkish Airlines had started flying to to Sri Lanka from London, […]
Fuel Sales
Apr 16, 2014 (LBO) – Losses at Sri Lanka’s state-run Ceylon Petroleum Corporation fell to 7.7 billion rupees in 2013 from 89.6 billion rupees a year earlier, but bank debt was still high, official data showed.The Central Bank in its annual report said other state enterprises owed the CPC 75.1 billion rupees and CPC in […]
Sri Lanka cautioned on rising renewable energy costs
Apr 14, 2014 (LBO) – Sri Lanka’s central bank has sounded a note of caution of caution over the rising burden of renewable power on consumers as the proportion of non-conventional renewable power (NCRE) increases in the grid.Mini-hydro feed in tariffs are among the cheapest.Almost all sources non-conventional of renewable power except waste heat are […]
‘s English county stint
LAHORE, April 12, 2014 (AFP) – Pakistan off-spinner Saeed Ajmal’s stint with English county Worcestershire may be set for a shorter duration to compensate for his country’s hastily-arranged Test and one-day series against Sri Lanka. “We are still discussing how much time he (Ajmal) can be away as we now have a scheduled series in […]
Private Equity
Apr 12, 2014 (LBO) – International Finance Corporation, a World Bank arm said it will invest 10 million US dollars in Emerald Sri Lanka Fund I, a 50 million US dollar private equity fund focused on the island.The fund will be run NDB Zephyr Partners, a joint venture between by New York based Zephyr Management […]
Settlement
Apr 12, 2014 (LBO) – Sri Lanka Telecom Plc, said it will pay Just In Time Holdings (Pvt) Ltd, which had supplied IPTV equipment, 673 million rupees, which includes legal costs and 171 million rupees in interest.Sri Lanka Telecom will make an immediate payment of 502 million rupees for set top boxes and legal costs, […]