Category: Industry
Lube Slip
Oct 25, 2013 (LBO) – Sri Lanka’s Chevron Lubricants reported higher profits with falling base oil prices but said the lubricant market was contracting. Revenues in the September 2013 quarter fell 7 percent to 2.7 billion rupees from a year earlier, with cost of sales falling at a faster 15 percent to 1.75 billion rupees, […]
Oil Field
Oct 24, 2013 (LBO) – Cairn Lanka, a unit of Cairn India, which has found natural gas in its off-shore block in Sri Lanka could begin field development by 2015 if ongoing talks over pricing is concluded, an official said. Cairn Lanka is now in talks with Sri Lanka’s government over gas pricing and is […]
Connection
Oct 24, 2013 (LBO) – Sri Lanka Telecom said it has been chosen to be the information communications technology provider to Commonwealth Heads of Government Meeting (CHOGM) to be held in November.SLT will serve the needs of government delegations, businessmen and journalists. SLT said it will connect multiple locations through its ‘SLT Intelligent Solutions’ integrated […]
Bank Rating
Oct 24, 2013 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating Standard Chartered Bank’s Sri Lanka with a stable outlook. Fitch said SCB Sri Lanka’s loan book had contracted 7 percent in the first half of 2013 after expanding 18 percent in 2012 in line with a drop in lending seen in Sri Lankan […]
Academic Backup
Oct 23, 2013 (LBO) – Sri Lanka’s petroleum exploration office and the university system are looking to expand petroleum related courses as the country’s oil and gas industry is beginning to taking off, officials said. Cairn which, is in talks with the government over monetizing hydrocarbon deposits has brought in Robertson CGG, an oil and […]
Sri Lanka Seychelles budget flights from November
Oct 23, 2013 (LBO) – State-run Mihin Lanka will operate twice weekly flights, code-sharing with sister full service carrier, SriLankan Airlines.The flight will start from next month, SriLankan Airlines said. Nishantha Wickremasinghe who is chairman of both airlines said the flights will connect not only Seychelles but the African continent as well. Chief Executive Kapila […]
Medical Facilities
Oct 23, 2013 (LBO) – Sri Lanka’s Ceylinco Healthcare Services said it had commissioned a 500 million rupee facility which can provide precise radiation treatment, targeting cancer patients in the country and the region.TomoTherapy machines deliver treatment guided by computerized tomography (CT) where the size of the cancer can be seen and precisely targeted with […]
Sri Lanka JKH says project has not changed amid approval delay
Oct 22, 2013 (LBO) – Sri Lanka’s John Keells Holdings says the size and scope of a 650 million US dollar plus project which also involves a casino has not changed as investment approvals appeared to be taking longer.Tax breaks for two casino resorts, the second to be built by Australia’s Crown group were due […]
Sri Lanka to amended approvals to casino resorts
Oct 22, 2013 (LBO) – Sri Lanka will issue new gazettes clarifying tax breaks offered to two casino resorts, and is also looking to come up with rules to address concerns raised, investment promotions minister Lakshman Abeywardene said.Two gazette notices giving tax breaks to large integrated resorts involving casinos to be built by Sri Lanka’s […]
Online Banking
Oct 21, 2013 (LBO) – Sri Lanka-based Commercial Bank of Ceylon, the island’s largest private lender by assets, said its unit in Bangladesh has launched an internet banking service. Commercial Bank customers in Bangladesh will be able to pay Grameen Phone Company bills and school fees. “Bangladesh has a rapidly growing customer segment that will […]
Sri Lanka exports up 10.7-pct in August, imports down
Oct 21, 2013 (LBO) – Sri Lanka’s exports rose 10.7 percent to 917.8 million US dollars in August 2013 from a year earlier, and import dropped 7.7 percent to 1.6 billion US dollars, the Central Bank said.Export earnings from tea grew 49.3 percent to 142.8 million US dollars and apparel exports barely grew 2.1 percent […]
Sri Lanka Crown casino resort fields cricket ambassadors
Oct 21, 2013 (LBO) – A proposed casino resort in Sri Lanka by James Packer’s Crown group has appointed as its ambassadors, Australian cricket captain Micheal Clarke and Vivien Greig, whose husband Tony is a household name in the island. Crown group is building what it calls a landmark iconic resort by the side of […]