Category: Industry
Ahoy
May 07, 2013 (LBO) – State-run Dredging Corporation of India has dredged Sri Lanka’s Kankasanthurai Habhour in the northern Jaffna peninsular, in a two week operation, India’s High Commission (embassy) in Colombo said.A ‘trailer suction hopper dredger’ had arrived at KKS Harbhour on April 19 and had completed the task by May 03 in a […]
‘s Textured Jersey net up 47-pct
May 06, 2013 (LBO) – Sri Lanka’s Textured Jersey Limited, a knit fabric maker, said net profits for the March 2013 quarter rose 47 percent to 321 million rupees, helped by tighter cost controls and net finance income. “Looking towards the future, TJL continues to carry a strong order book with new product lines and […]
PPP
May 06, 2013 (LBO) –Sri Lanka is seeking private investments to build an expressway and port related services as the government gears to develop the next raft of infrastructure projects, officials said. “Public private partnership, is high on the government’s agenda,” Ranjith Pemasiri, Ports and highways ministry secretary told a ports and logistics forum in […]
SriLankan Airlines says online bookings faster, safer with new gateway
May 05, 2013 (LBO) – State-run SriLankan Airilines said it had signed up Wirecard, a German payment gateway operator which will make online bookings faster and safer, as part of moves to join oneoworld, a global alliance of carriers. Wirecard provides payment processing, card issuing and risk management services to more than 10,000 companies worldwide. […]
Allianz seeks Sri Lankan teens for football camp in Germany
May 04, 2013 (LBO) – Allianz Insurance Lanka said it is on the lookout for two Sri Lankan teenagers to participate in a football camp in Germany and teens between the ages 14 to 16 could apply. The annual Allianz Junior Football camp, from August 7 to 12 will allow them to train with members […]
Sri Lanka electricity rate change to cut revenues by Rs8.0bn: report
May 03, 2013 (LBO) – A change made to an electricity tariff hike from April 2013 will reduce expected revenues by 8.0 billion rupees a year, a media report said.In 2012 the CEB lost 61 billion rupees. This year the loss increased partly due to an increase in furnace oil prices which in turn would […]
Banking
May 03, 2013 (LBO) – Sri Lanka’s Seylan Bank group said net profits for the March 2013 quarter rose 26 percent from year earlier, by both fund and fee based income.The group reported earnings of 1.51 rupees for the quarter. Return (profit before tax) on assets was 1.54 percent and return on equity was 1.54 […]
MegaPlan
May 03, 2013 (LBO) – Sri Lanka is positioned to be one of the pivotal ports of call in Asia with deepwater terminals that can serve mega vessels which are transforming global container shipping, officials said.The so-called mega vessels include CMA CGM’s new ships which can carry 16,000 containers (twenty foot equivalent units), the second […]
‘s exports, trade gap down in Feb, apparel up
May 02, 2013 (LBO) – Sri Lanka’s exports fell 2.9 percent to 797.5 million rupees in February 2013 from a year earlier but apparel exports rose 8.8 percent to 371.6 million US dollars, the Central Bank said. Rubber product exports were down 12 percent to 66.1 million US dollars and agricultural exports were down 5.9 […]
‘s Chinese coal plant giving cheaper power: CEB engineers
May 03, 2013 (LBO) – A Chinese financed and built plant at Sri Lanka’s state-run Ceylon Electricity Board, is generating power at a lower cost and defects are being gradually rectified, officials of the utility’s engineers union said. The coal plant is expected to generate about 1,800 to 1,900GigaWatts of energy this year, out of […]
Terminal
May 2, 2013 (LBO) – Colombo International Container Terminal Plc, (CICT) a unit of China Merchant Holdings (International) will begin discussions with potential customers shortly with the first berth due to open in July, an official said.SLPA’s existing Jaye container terminals and South Asia Gateway Terminals, owned by listed John Keells Holdings are operating at […]
Sri Lanka hiked electricity tariffs not to apply to low users
May 01, 2013 (LBO) – An electricity tariff hike from April will not apply to users below 60 units and users up to 180 units will get a lower increase than determined earlier, President Mahinda Rajapaksa has told a May Day rally in Colombo. Sri Lanka raised power tariffs from April 2012 with users up […]