Category: Industry
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 […]
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 […]
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 […]