Category: Industry
Capital Costs
Feb 24, 2013 (LBO) – An upgrade to Sri Lanka’s 50,000 barrels refinery a day involving doubling of is capacity and boosting light distillate yields could cost up to 1.5 billion US dollars, officials said. Petroleum minister Anura Yapa told reporters Saturday that feasibility and front-end-engineering-design (FEED) has already been completed for the project. Sri […]
Fuel Hike
Feb 23, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said. Sri Lanka’s power regulator, the Public Utilities Commission of Sri Lanka has […]
‘s NTPC may drop Sri Lanka coal power project: report
Feb 22, 2013 (LBO) – India’s state-run National Thermal Power Corporation (NTPC) may pullout of a 500 MegaWatt coal power plant joint venture with Sri Lanka’s state-run Ceylon Electricity Board, a media report said. India’s Financial Express newspaper in an online report said NTPC had sought permission from Indian authorities to withdraw two of its […]
Sri Lanka power regulator trims proposed expenses
Feb 22, 2013 (LBO) – Sri Lanka’s power regulator has trimmed 33 billion rupees or about 12 percent of expenses proposed by the state-run Ceylon Electricity Board in the second step to revising power tariffs.Large volumes of bank loans taken to subsidize energy from mid 2011, which were ultimately accommodated with central bank credit (printed […]
Sri Lanka medical officers to get Allianz cover
Feb 22, 2013 (LBO) – Members of Sri Lanka’s Government Medical Officers’ Association (GMOA) will be able to get motor insurance with professional liability cover, insurer Allianz Lanka said.Under an agreement signed with GMOA, its member will get motor insurance with free flood and natural disaster cover, with professional liability. “We are sure this will […]
Sri Lanka and Korea air links to expand
Feb 22, 2013 (LBO) – Sri Lanka and Korea has liberalized an air services agreement allowing traffic rights to third countries which is expanding air links between the capitals of the two countries, the foreign ministry said.A new air services agreement had been signed on February 20 allowing Korean Air to fly to Maldives and […]
Management Ideas
Feb 22, 2013 (LBO) – The faculty of management studies and commerce of the University of Sri Jayewardenepura is holding an international conference with papers to be presented by participants from Malaysia, Poland, France and India in addition to Sri Lanka.The ‘International Conference on Business Management’ will be held on February 28 and March 01 […]
Road Finance
Feb 22, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a 3.2 billion rupee long-term loan to the state to finance the rebuilding of 37.5 kilometres of priority roads in the central part of the island, the state information office said.The loan will be used to re-build road sections of 33.50 to 44.0 […]
Share Limits
Feb 22, 2013 (LBO) – Sri Lanka’s central bank will look at “the need for raising” shareholder ceilings imposed on banks, a media report said, quoting Central Bank Governor Nivard Cabraal.Several state entities have also bought stock in private banks, exceeding the limit. Reuters, a news agency quoted Cabraal as saying on the sidelines of […]
Sri Lanka textile mill boosts revenue, profits
Feb 20, 2013 (LBO) – Sri Lanka’s Kuruwita Textiles said boosted revenues 31 percent in the December 2012 quarter from a year earlier and profits rose 20 percent to 15.9 million rupees, despite narrower margins interim accounts showed. He said the company was working on new customers and strengthening existing relationships and was also working […]
Bridge Financing
Feb 21, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a loan of 6.779 million sterling pounds equivalent in dollars as part financing to construct 210 steel bridges, the state information office said.The cabinet of ministers had given the nod to enter into the loan contract at the rate of 6.0 percent above […]
Difficult Terrain
Feb 21, 2013 (LBO) – United Motors Plc, agents for Mitsubishi in Sri Lanka launched a 1.2 litre engined Mirage car into an auto market that has been dented by a tax-hike, high interest rates and currency depreciation. “We are not very ambitious with the current taxation and where the yen is,” managing director Chanaka […]