Category: Industry
Expansion Plan
July 31, 2013 (LBO) – State-run Sri Lanka Ports Authority (SLPA) expects to invest in foreign ports and look for opportunities in terminal management, a strategic plan running up to 2020 said.SLPA already has a 15 percent stake in Colombo International Container Terminal, where China Merchant (International) is the majority partner. “..SLPA will jointly explore […]
Sri Lanka studying fresh locations for super-critical coal plant
July 30, 2013 (LBO) – Sri Lanka is studying locations to site a high tech coal plant for which funding is expected from Japan, after concerns over the initial location, a top official said. The 500 MegaWatt coal plant was to be built at Athuruwella in the South West coast of the island. Power ministry […]
’s boatpeople face return to island or transfer to PNG: Australia
July 30, 2013 (LBO) – Sri Lanka’s boatpeople face return to island or transfer to Papua New Guinea, an island off the Australian coast as 68 Lankans are shortly to be put through an enhanced screening processes, the country said. Almost 1300 Sri Lankans have been sent home since August 2012, 1100 of them involuntarily. […]
Rate Effect
July 30, 2013 (LBO) – Profits at Sri Lanka’s Seylan Bank fell 13 percent to 484 million rupees in the March 2013 quarter amid rising interest costs, interim accounts showed. The gross non-performing loan ratio (net of interest in suspense) fell to 11.15 percent from 12.99 percent at bank level during the period. The interest […]
Cricket: Sri Lanka, South Africa want to light up dead rubber
COLOMBO, July 30, 2013 (AFP) – Sri Lanka and South Africa will not let the intensity slip in Wednesday’s fifth and final one-day international in Colombo even though the hosts have already wrapped up the series.“We might make one or two changes, but we certainly don’t want 11 freshers coming in.In our line-up, we have […]
Cricket: Dilshan, Sangakkara lift Sri Lanka to series win
PALLEKELE, July 28, 2013 (AFP) – Tillakaratne Dilshan and Kumar Sangakkara pulverised South Africa’s bowling as Sri Lanka took a decisive 3-1 lead in the one-day series with an eight-wicket victory in Pallekele on Sunday.Amla, batting for the first time in the series after being injured while fielding in the only other game he played, […]
Tele Investments
July 29, 2013 (LBO) – Investments in Sri Lanka’s by Dialog Axiata group, a unit of Malaysia’s Axiata is reaching 1.5 billion US dollars with a 150 million US dollar network and fibre optic capacity, officials said. The latest investment agreement inked with the Board of Investment of Sri Lanka for 150 million dollars will […]
Myanmar monasteries offer bootcamp for the spirit
YANGON, July 29, 2013 (AFP) – Pre-dawn wake-up calls, days of silence and hunger may not be everyone’s idea of a holiday, but for tourists seeking spiritual sustenance Myanmar’s monasteries offer help on the path to Buddhist nirvana.The search for inner peace is unlikely to appeal to those who take a more hedonistic approach to […]
Credit Board
July 29, 2013 (LBO) – Sri Lanka’s industry and commerce ministry said it had appointed a four person body to approve credit agencies under powers of Sri Lanka’s mortgage and trust receipt laws. Commercial minister Rishad Bathiudeen had appointed, Sujeewa Rajapaksa (President of ICASL), Anura Meddagoda (Attorney at Law) and VM Weerasinghe (Chief Accountant, Ministry […]
Credit Trend
July 29, 2013 (LBO) – Sri Lanka’s loans to private business picked up in May as credit to both state enterprises and the central government from banks dropped in May, official data showed.Total credit to the state dropped 6.2 billion rupees to 1555.6 billion rupees in May from a month earlier, which included an increase […]
Personal Travel
July 28, 2013 (LBO) – Scooters are becoming more popular in Sri Lanka making up about a third of all two-wheelers sold in the country now, the agents for India’s Mahindra group said at the launch of new models.Sri Lankan citizens who could not afford a car were buying up to 24,000 two-wheelers a month […]
South Africa win to stay alive in Sri Lanka cricket series
PALLEKELE, July 26, 2013 (AFP) – David Miller and Lonwabo Tsotsobe played key roles as South Africa stunned hosts Sri Lanka by 56 runs in the third one-dayer in Pallekele on Friday to stay afloat in the five-match series.Miller plundered a robust 85 not out off 72 balls to steer South Africa to 223-7 after […]