Category: Industry
Sri Lanka state airline to get Rs25bn bailout: report
July 15, 2013 (LBO) – State-run SriLankan Airlines will get a 25 billion rupee tax-payer bailout, through a Treasury bond to settle fuel bills, a media report said.Sri Lanka’s The Sunday Times newspaper quoted civil aviation minister Priyankara Jayaratne as saying that the Treasury has agreed to pay 25 billion rupees owed to state-run fuel […]
Policy Training
July 15, 2013 (LBO) – Sri Lanka™s Postgraduate Institute of Management (PIM), provider of management education said it will conduct a short course on public policy for business leaders, academics, researchers and government officials. The closing date for registration is July 15 and the program has openings for only 40 participants, who will be accommodated […]
Consolidation
July 14, 2013 (LBO) – Sri Lanka is looking to be flexible on banks share ownership limits to make it easier to merge and allow sector consolidation, a top regulatory official said.However analysts say financial institutions play in different risk categories. Non bank financial institutions generally play in the more risky categories not accessed by […]
Piracy
MOGADISHU, July 13, 2013 (AFP) – At least three, and perhaps all, of the 15-man crew of a merchant vessel that sank last week while being held by Somali pirates are alive, their families said Saturday.The Malaysian-flagged MV Albedo container ship, seized by Somali pirates in November 2010, sank last week in rough seas a […]
Petro Search
July 13, 2013 (LBO) – Sri Lanka is revamping its petroleum exploration law to provide better investor protection and to clearly separate regulatory and upstream activities, a top official said.Wickramasuriya told a business forum ahead of a bidding round that is to close in November that since the existing law which was drafted in 2003 […]
Sri Lanka plans export trade fair for 2014 August
July 12, 2013 (LBO) – Sri Lanka is planning an export fair to showcase its products and services to the world in August 2014, and has appointed a high level panel to take it forward, the ministry of industry and commerce said. The fair will target buyers outside traditional market in EU and North America. […]
‘s hotels overcharging for rooms: minister
July 11, 2013 (AFP) – Sri Lanka’s hotels are overcharging for rooms in an attempt to cash in on growing visitor numbers after a decades-long war, a minister said Thursday.Investment Promotion Minister Lakshman Yapa Abeywardena said some hotels had hiked up room rates 10-fold since the end of the war in 2009 without improving service. […]
Express Deal
July 12, 2013 (LBO) – A top Chinese toll road company has landed deal to build and run a 1.5 billion US dollar expressway from the capital to central Sri Lanka, which could be the island’s largest single foreign investment to date.Hua Jian Highway Investment Company manages 6,900 kilometres of toll roads, bridges and tunnels […]
India defeats Sri Lanka in one wicket victory
PORT OF SPAIN, July 12, 2013 (AFP) – India captain Mahendra Singh Dhoni dragged his side to a pulsating one-wicket victory over Sri Lanka in the final of the Tri-Nation Series at Queen’s Park Oval on Thursday.Returning to the team after seeming to be ruled out from the rest of the tournament with a hamstring […]
Oil Services
July 11, 2013 (LBO) – Sri Lanka’s Hayleys Energy Services, a unit of listed Hayleys Plc said it has started providing services to international oil firms through a business process outsourcing arm.Already ConocPhillips and TAQA were clients of its BPO service, chief executive Chas Charles told an oil and gas exploration conference in Colombo. He […]
Sri Lanka has opportunities in export food processing: economist
July 11, 2013 (LBO) – Sri Lanka has to build capacity opportunities to be a processed food exporter, taking a cue from developments that occurred in East Asian nations such as Thailand and Vietnam, an Australia-based economist said. Prema-chandra Athukorale, professor of economics at Australian National University said in Thailand 23 percent of non-oil exports […]
India beat Sri Lanka to join them in Tri-nations final
PORT OF SPAIN, July 9, 2013 (AFP) – India overcame Sri Lanka and the almost continuous threat of inclement weather on Tuesday at Queen’s Park Oval to advance to the final of the Tri-Nation Series two days later against the same opponents.In yet another match in Trinidad severely affected by rain, the World Cup and […]