Category: Industry
Micro Oversight
July 18, 2013 (LBO) – Sri Lanka will begin regulating micro financing institutions with large entities coming directly under the central bank information minister Keheliya Rambukwelle said.A third category coming under the Commissioner of Co-operative Development and Registrar of Co-operative Societies, Divineguma Department will be exempted from Central Bank regulations. They will come under existing […]
Port Road
July 18, 2013 (LBO) – A 260 million dollar circular highway around Sri Lanka’s Northeastern port city of Trincomalee will be built by a Chinese contractor with financing from the Industrial and Commercial Bank of China, a minister said.Information minister Keheliya Rambukwelle said the cabinet of ministers had awarded the building contract to Hunan Road […]
Sri Lanka mulls scrapping cricket T20 league
July 17, 2013 (AFP) – Sri Lanka’s cricket authorities will decide later Wednesday whether to scrap their Twenty20 league after all franchise holders defaulted on payments for the tournament, officials said.He said the franchise holders had also failed to come up with bank guarantees to underwrite match fees for players.Sri Lanka played its inaugural Twenty20 […]
Sri Lanka cement demand to pick up: Tokyo Cement
July 17, 2013 (LBO) – Sri Lanka’s Tokyo Cement said demand is expected to recover from a contraction in the first quarter of 2013 and medium term growth is estimated at 10 percent a year.Tokyo Cement, a joint venture with Japan’s Nippon Coke and Engineering Company Ltd, operates grinding plants in Trincomalee port in northeastern […]
Krrish given more time to pay for Sri Lanka land: report
July 17, 2013 (LBO) – Sri Lanka has given another extension to pay for state land in the capital Colombo for a proposed real estate project by India’s Krrish group, a media report said. Sri Lanka’s The Island newspaper said the firm had been given till July 31 to pay up the balance due for […]
‘s Piramal Glass unit sells more land
July 17, 2013 (LBO) – Sri Lanka’s Piramal Glass Ceylon Plc, a unit of India’s Piramal group said it was selling a second tranche of its former factory premises in a Colombo suburb for 415 million rupees.The company said in a stock exchange filing that the land had been sold to Ideal Motors (Pvt) Ltd. […]
SriLankan Airlines feted for services to Indian Ocean tourism
July 17, 2013 (LBO) – Sri Lanka’s state-run SriLankan airlines has been given an award for special services to tourism in the Indian Ocean at a regional hospitality event of a global tourism award scheme. The World Travel Awards held its Indian Ocean ceremony in Maldives earlier this week where SriLankan received the new award. […]
Sri Lanka tourist arrivals up 12.8-pct in June
July 17, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 12.8 percent to 73,628 in June 2013 from a year earlier, with half year arrivals up 13.1 percent to 512,281, data from the state tourism promotion office showed. South Asian visitors were up 9.6 percent to 21,915 with Maldives up 29.4 percent to 5,454, Pakistan […]
Fleet Expansion
July 17, 2013 (LBO) – Sri Lanka’s Tokyo Cement group said it planned to buy two more vessels in the next three years, as the firm expanded.“Therefore, sudden spikes in freight costs have significant and unavoidable negative impacts on the company’s balance sheet. “Our decision to invest in our own fleet of vessels therefore, has […]
Mobile Drive
July 16, 2013 (LBO) – Sri Lanka’s car owners will be able to renew and pay for annual revenue licenses through their mobile phones, an official said as part of efforts to boost government service delivery, officials said. Sri Lanka’s Information and Communication Technology Agency (ICTA) said car owners in the Western Province would be […]
Higher Gear
July 16, 2013 (LBO) – Sri Lanka’s re-conditioned or imported used automobile registrations hit a 19 month high in June 2012 with Japanese made Toyota and Honda brands in pole position, an analysis by an equities research house shows.Imported used vehicles rose to 1,327 in June 2013, the highest since 1,205 hit in June 2011 […]
Cricket: Review system in spotlight after Ashes thriller
NOTTINGHAM, July 15, 2013 (AFP) – If ever confirmation was needed the umpire’s decision is no longer final, at least at international level, the first Test between England and Australia at Trent Bridge provided the proof.An enthralling match, which England won by 14 runs, was beset by controversies over the use of the Decision Review […]