Category: Industry
Cricket: Duminy rescues South Africa against Sri Lanka
COLOMBO, August 2, 2013 (AFP) – JP Duminy hit 51 off 52 balls as spin-wary South Africa recovered from a poor start to post 115-6 in the first Twenty20 international against Sri Lanka in Colombo on Friday. Duminy hit three boundaries and a six before he was dismissed in the penultimate over, caught in the […]
Sri Lanka-born top international designer Balmond in JKH resort
Aug 02, 2013 (LBO) – Balmond Studio Limited, a UK-based firm founded by Sri Lanka-born Cecil Balmond has designed John Keells Holding’s 820 million dollar casino resort development, the company said.The second phase involves a 200 unit apartment block and a 400,000 square feet office tower. JKH said its integrated resort will cater to the […]
Sri Lanka JKH hotel unit in the red
Aug 02, 2013 (LBO) – Top Sri Lankan hotel operator, John Keells Hotels Plc, slipped into the red in the June 2013 quarter amid a tourism boom losing 102 million rupees, interim accounts showed.The firm reported losses of 7 cents per share for the quarter, compared to earnings of 03 cents on total profits of […]
Sri Lanka JKH to raise equity, foreign debt for casino resort
Aug 02, 2013 (LBO) – Sri Lanka’s John Keells Holdings said an 800 million US dollar casino resort project will raise foreign debt and the parent may also make a cash call to invest 240 million US dollars in equity.The project involves an 800 room up market hotel, a convention centre that can hold 2,500 […]
German envoy meets Allianz junior footballers
Aug 01, 2013 (LBO) – Isuru Weerasinghe and Roshen Subash, two Sri Lankan youngsters who will attend a football camp in Munich backed by Allianz Lanka, an insurer has met the German envoy in Colombo before their departure.Isuru from Central College in Badulla and Roshen from Holy Cross College in Kalutara shared their personal stories […]
Cricket: Dilshan stars as Sri Lanka thrash South Africa
COLOMBO, July 31, 2013 (AFP) – Tillakaratne Dilshan narrowly missed a second successive century as Sri Lanka whipped South Africa by 128 runs in Colombo on Wednesday to wrap up the one-day series 4-1.The hosts, already holding a decisive 3-1 lead, piled up 307-4 after electing to take first strike and then shot the Proteas […]
Sri Lanka close to signing power purchase deal with India JV
Aug 01, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is close to signing a power purchase deal with an Indian joint venture coal plant, a top official said. The CEB and India’s National Thermal Power Corporation is to build a 500 MegaWatt coal plant in Trincomalee but signing its power purchase agreement was […]
Liquidity
Aug 01, 2013 (LBO) – Sri Lanka’s central bank has bought Treasury Bills to meet government cash flow needs but is draining the liquidity though open market operations to counter any inflationary impact, Governor Nivard Cabraal said. Governor Cabraal has said earlier that Sri Lanka has enough foreign reserves to pay investors if they wanted […]
Even Road
Aug 01, 2013 (LBO) – Sri Lanka has cleared a tax anomaly which can make single cab trucks, especially some Indian brands, cheaper, Deputy Treasury Secretary S R Attygalle said.Until now imported single cab trucks were charged two rates of taxes based on whether the engine was protruding forward or not which had made some […]
Gas Plan
July 31, 2013 (LBO) – Sri Lanka’s state-run ports agency is planning a liquid natural gas terminal in its southern port in Hambantota for power generation and LNG bunkeringis also on the cards, in a strategic plan running up to 2020.SLPA chairman Priyath Wickrema said the strategic plan ‘Vision2020’ will enable Sri Lanka to be […]
Sri Lanka creates free zones for entrepot trade, off-shore business
July 31, 2013 (LBO) – Sri Lanka has declared two seaports as ‘free ports’ and an airport and two export processing zones as bonded areas, for entrepot trade and off-shore business.Colombo and Hambantota ports have been declared as free ports. Export processing zones in Katunayake by the main international airport and Koggala and the second […]
Platform Sale
July 31, 2013 (LBO) – Sri Lanka-based MillenniumIT, a unit of London Stock Exchange group said it had won deal to sell its securities trading platform to Argentina. MillenniumIT software is running in around 30 locations around the world. Recast The London Stock Exchange group said Wednesday it had been selected as technology partner for […]