Category: Industry
Sri Lanka urban housing eyed by UAE firm: industries ministry
July 05, 2013 (LBO) – Midein Holding Llc, an Abu Dhabi based firm is looking at urban housing development in Sri Lanka, the ministry of industry and commerce said.Omair S Al Dhaheri, chairman of Midein Holding had visited Colombo and has had talks with deputy investment promotion minister Faiser Mustapha and chairman of the state […]
‘s boom time condos fail building rules
July 04, 2013 (LBO) – Over 71 condominiums, especially some built during a boom that ended in 2009 have failed to conform to building regulations, leaving those who bought them without deeds of transfer, an official said.But a number of apartments in Colombo have failed to conform to building standards and are yet to be […]
Cricket: Tharanga on Caribbean ODI high for Sri Lanka
KINGSTON, July 2, 2013 (AFP) – Upul Tharanga plundered the highest individual score in a One-Day International in the Caribbean as Sri Lanka amassed 348 for one batting first against India in the third match of the Tri-Nation Series at Sabina Park on Tuesday.India did not help their cause in the field.Jayawardene was missed at […]
Tank Test
July 03, 2013 (LBO) – Sri Lanka’s state-run ports agency said it had begun testing a bunkering tank farm in at its newly built Hambantota port with a cargo of marine gas oil being unloaded.The tank farm has 08 tanks for marine fuel ranging from 3,000 cubic metres (two), 5,000 cubic metres (three) and 10,000 […]
India, Sri Lanka enter tri-nations fray
KINGSTON, July 1, 2013 (AFP) – India and Sri Lanka go in search of their first points of the Tri-Nation Series when they meet on Tuesday at Sabina Park as the preliminary phase of the competition reaches the halfway point.With the West Indies completing contrasting victories over the other two teams and already on their […]
Cash Levels
July 02, 2013 (LBO) – Sri Lanka’s money markets were flooded with 35 billion rupees in excess cash after a cut in the statutory reserve ratio despite pre-emptive moves by the Central Bank to kill some liquidity.“But often liquidity is generated when the Central Bank buys dollar especially capital inflows to the government,” says fuss-budget. […]
Credit Rating
July 02, 2013 (LBO) – Fitch Ratings said it had given Sri Lanka’s National Development Bank a ‘B+’ international rating with a stable outlook. The SR and SRF are sensitive to the sovereign’s ability and propensity to provide timely support, particularly if the sovereign rating were to change. The SRF could be upgraded if NDB’s […]
Sri Lanka businesses looks for ways to cut power use
July 01, 2013 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding an expert forum for businesses looking for ways to cut power use after a recent hike. “The recent escalation in electricity tariffs was estimated to increase the electricity bills of most industrial, hotel and commercial enterprises by about 20 30 […]
Sri Lanka and Seychelles ink air services, defence pacts
July 01, 2013 (LBO) – Sri Lanka and Seychelles have bilateral pacts on defence co-operation and air services following a visit to the island by President Mahinda Rajapaksa, his office in Colombo said.Sri Lanka’s state-run Bank of Ceylon will open a branch in the Seychelles and the air services deal paves the way for the […]
Settlement
July 1, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation had settled a claim over an oil derivative for 60 million US dollars, a media report said.State-run CPC refused to pay on a complex options position which went against it after oil prices collapsed in later 2008 as the US monetary system de-leveraged, amid […]
White Knight
July 01, 2013 (LBO) – Sri Lanka’s Central Bank said People’s Leasing and Finance Plc, the island’s largest non-bank lender has been appointed managing agent for Central Investments and Finance Plc, which had seen liquidity issues.. “The Managing Agent will be expected to improve the financial status of CIFL within a reasonable period of time, […]
Cargo Service
July 01, 2013 (LBO) – Sri Lanka’s Hemas group, which has interests in consumer goods, leisure power and logistics said it has started building a container yard and warehouse in Welisara, north of the capital Colombo.It will handle and store empty and laden containers. The firm will also provide warehousing facilities to exporters, mainly aimed […]