Category: Industry
Sri Lanka and India ink deal for 500MW coal plant
Oct 08, 2013 (LBO) – Sri Lanka and India has inked a deal to build a 500MegaWatt joint venture coal power plant, in the island’s North Eastern coast which is expected to come on stream by 2018.Sri Lanka’s power ministry secretary MMC Ferdinando, chairman of state-run Ceylon Electricity Board WB Ganegala and NTPC chairman Arup […]
Sri Lanka JKH resort goes to Korean builders: report
Oct 08, 2013 (LBO) – Sri Lanka’s John Keells Holdings has awarded a consortium led by South Korea’s Korea’s Hyundai Engineering and Construction, a 522 million US dollar contract to build an integrated resort, a media report said. Hyundai E&C has a 65 percent stake in the construction consortium (339 million US dollars), Keangnam Enterprises, […]
Talent Forum
Oct 08, 2013 (LBO) – Sri Lanka’s information technology and outsourcing industry chamber said it is holding a forum on human resources to help over challenges faced by the sector. Among the panellists are, chief executive ACCA, Ajantha Dharmasiri, senior faculty member, Postgraduate Institute of Management, Niroshan Silva, managing director Training Consortium and Dananjaya Hettiarachchi, […]
Sri Lankan Airlines leases three A350-900s
Oct 09, 2013 (LBO) – State-run SriLankan Airlines said it had leased three Airbus A350-900 aircraft from US-based International Lease Finance Corporation (ILFC), as part of a re-fleeting program where another four will be bought directly from the manufacturer. “…[W]e believe that this new generation, fuel-efficient aircraft will play a leading role in the airline’s […]
Babel
Oct 07, 2013 (LBO) – Sri Lanka’s Sinhala speakers would soon be able to use Google translate, a tool that allows readers to translation languages into one another, an official said.“The development is being done as we speak,” Rohan Jayaweera, country consultant for US-based Google Inc told an LBR-LBO Summit forum. “I am sitting in […]
Marketing Award
Oct 07, 2013 (LBO) – Indunil Liyanage, chief marketing officer of state-run Bank of Ceylon has been named among the ’50 most talented CMOs’ at Golden Globe Tiger Awards 2013 in Malaysia.The awards were held at the World Marketing Summit in Kuala Lumpur on September 30, an event associated with Philip Kotler, distinguished Professor of […]
Steady State
Oct 07, 2013 (LBO) – Fitch Ratings said it had confirmed an ‘AA-(lka)’ rating of Sri Lanka’s Sampath Bank (SB) with a stable outlook.“Fitch believes that SB’s asset quality may weaken in 2013, in line with its expectation for the sector, but would continue to compare well against most ‘AA(lka)’ category-rated private bank peers,” the […]
Rating Report
Oct 05, 2013 (LBO) – Fitch Ratings has confirmed an ‘A-(lka)’ rating by Seylan Bank Plc, with a ‘stable’ outlook.An upgrade of Seylan’s rating would be contingent upon its standalone rating moving above the support-driven rating, by way of significant and sustained improvement in asset quality and provisioning while maintaining other credit metrics in line […]
Afghanistan qualify for Cricket World Cup
SHARJAH, October 4, 2013 (AFP) – Afghanistan booked their place in the World Cup for the first time on Friday when they swept past Kenya by seven wickets in their final qualifying match.Set a modest 94 to win, Afghanistan, who were playing in the fifth tier of international cricket just five years ago, reached their […]
‘s Brandix gets trade credit line from IFC
Oct 03, 2013 (LBO) – Brandix, a Sri Lanka based apparel group will get a trade finance facility from International Finance Corporation, a world bank arm, which the lender says is the first in South Asia. Brandix will get funding against credit given to selected international buyers which can be used for working capital. IFC […]
Sri Lanka to set standards for LED lighting
Oct 03, 2013 (LBO) – Sri Lanka will set standards for energy saving light emitting diode (LED) bulbs, paving the way to end high taxes on the product, an official said. Wickramasinghe said buyers can look at the star rating and compare prices and brands. “A light with higher star rating may be a better […]
Labour Standard
Oct 03, 2013 (LBO) – The first of seven Sri Lankan flagged ships plying international waters recently received International Labour Organisation certification for meeting the requirements of the Maritime Labour Convention of 2006.It is on charter to Safmarine, a company in the AP Moller-Maersk group and trades on the EURWAF service from Europe to West […]