Category: Industry
Credit Line
Mar 22, 2013 (LBO) – The European Investment Bank will loan 90 million Euros to Sri Lanka which will be used to finance for renewable energy projects and small and medium enterprises, minister Keheliya Rambukwelle said.The balance will be given at averaged weighted deposit rate (6-months) for15 years with 3 year grace. DFCC Bank, Commercial […]
Knowledge Cluster
Mar 21, 2013 (LBO) – Sri Lanka Urban Development Authority and the military is building a ‘knowledge park’ in the capital Colombo at the cost of about seven million US dollars which will be ready by the year-end, officials said.Defence secretary Gotabaya Rajapaksa told business forum of Sri Lanka’s software and business process outsourcing chamber […]
Road Finance
Mar 21, 2013 (LBO) – Sri Lanka will borrow 150 billion rupees (about 1.2 billion US dollars) from domestic banks to build 716.5 kilometers of roads through domestic contractors, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved the plan to borrow money through Treasury guarantees. Sri Lanka’s Road Development Authority had earlier […]
Colombo Metro
Mar 21, 2013 (LBO) – Japan’s aid agency is preparing a transport master plan for Sri Lanka’s capital and its environs leading to the building of a mass transit system which it could finance, officials said.Tetsuji Iida, senior representative of the Japan International Co-operation Agency told LBO that the transport master plan could come up […]
Tank Tug
May 21, 2013 (LBO) – Sri Lanka will negotiate with Lanka IOC, a unit of Indian Oil Corporation. to take back unused oil tanks it had been given in the Eastern port of Trincomalee, Minister Keheliya Rambukwelle said. Sri Lanka recently expropriated several privatized businesses through controversial legislation. Update II “If they are not using, […]
Sri Lanka plans 500MW coal plant in South West
Mar 21, 2013 (LBO) – Sri Lanka state-run Ceylon Electricity Board is planning a 500 MegaWatt eco-friendly coal plant in Ahuruwella, Induruwa in the southwest coast, the island’s power ministry said. Another two 300MW plants are being built in Puttlama now. A power ministry statement quoted power minister Pavithradevi Wanniarachchi as saying that the plant […]
DFI Credit
Mar 20, 2013 (LBO) – Sri Lanka’s Sampath Bank has signed up medium term credit facilities from Chinese and French development finance institutions, managing director Aravinda Perera said. The bank grew loans 23.7 percent with the help of foreign finance topping an 18 percent ceiling imposed by the regulator for loans with domestic resources. Officials […]
Paradise Isle
Mar 19, 2013 (LBO) – Sri Lanka’s media, including banned-but-popular news websites, have evidently avoided reporting on the “princely wages” they have just been awarded by a government keen to win over their support.Buoyed by such compliments, media trade unions are unlikely to join the Organisation of Professional Associations (OPA). The Working Journalists’ Association, which […]
Sri Lanka carrier halves Chennai flights after attack on monks
Mar 18, 2013 (LBO) – State-run SriLankan Airlines said it was halving flight to Chennai to 14 a week from 28 from Thursday March 21 following an attack on a visiting Buddhist monk by Tamil groups.“SriLankan Airlines has observed a drop in traffic between Chennai and Colombo due to recent developments in Tamil Nadu, hence […]
Sri cautions tourists to Tamil Nadu; India says attackers prosecuted
Mar 18, 2013 (LBO) – Sri Lanka has called upon citizens travelling to “exercise caution” following attacks by suspected Tamil groups on tourists including Buddhist monks, while India said action has been taken to find and prosecute those involved in assaults.Sri Lanka’s foreign ministry said it had “lodged strong protests with the Indian Government” through […]
Sri Lanka opens second international airport
Mar 18, 2013 (LBO) – Sri Lanka President Mahinda Rajapaksa inaugurated the island’s second international airport in Mattala, Hambantota after arriving in a state-run SriLankan Airlines aircraft Monday.The Chinese financed Mattala Rajapaksa International Airport, named after the president, can handle a million passengers and 45,000 tonnes cargo annually. Air Arabia, a UAE based budget carrier, […]
Sri Lanka second airport to support aviation hub strategy: President
Mar 18, 2013 (LBO) – The opening of a second international airport in Mattala in Hambantota on March 18, strengthens Sri Lanka’s strategy to become an aviation hub, President Mahinda Rajapaksa said. The airport has a 3,500 meter ‘code F’ runway capable of handling Airbus A380 aircraft. He declared March 18 as the civil aviation […]