Category: Industry
Sri Lanka tourist arrivals up 21-pct in June
July 15, 2012 (LBO) – Tourist arrivals to Sri Lanka rose 21.6 percent to 65,245 in June 2012 from a year earlier, with arrivals up to June rising 18.7 percent to 452,867, data from the state tourism promotion office showed. In the first half of 2012, the top generating market was India, with 85,426 up […]
Debate brewing over Sri Lanka tea blending plans
COLOMBO, July 15, 2012 (AFP) – Sri Lanka’s tea industry is deeply divided over plans to boost earnings by importing cheaper leaves for blending and re-export, over fears the changes could water down the “Pure Ceylon” brand Pure Ceylon — using the country’s colonial-era name — is to tea what single malt is to whisky, […]
Sri Lanka suggests single clearance document for regional trade
July 14, 2012 (LBO) – A single document that harmonises different regulations of South Asian countries for clearing cargo would help boost regional trade, Sri Lanka’s external affairs minister Gamini Lakshman Peiris said. Trade among countries of the South Asian region was far below its potential and simplified procedures were needed to increase volumes, he […]
Securitization
July 13, 2012 (LBO) – Sri Lanka’s Multi Finance Plc, a registered finance company said it had raised 350 million rupees from the sale of asset-backed securities to fund hire purchase loans. The tenor of the securitization was not mentioned by most vehicle purchase loans in Sri Lanka are for four years. Sri Lanka’s interest […]
Offshore Support
July 13, 2012 (LBO) – Colombo Dockyard has delivered the first of a series three vessels to support offshore oil and gas fields for Greatship Global Offshore Services of Singapore. The Multipurpose Platform Supply Vessel (MPSV), delivered Wednesday, is designed by Seatech Solutions International (S) of Singapore, and is the latest new build by the […]
Running Ships
July 12, 2012 (LBO) – Sri Lanka can get into maritime businesses like ship management as it improves its position as a shipping hub in south Asia with the construction of two big deep-water ports, an official said. The island has a lot of potential in supply chain management and logistics from a ship management […]
Sri Lanka Marriott hotel with East West to open in 2014
July 11, 2012 (LBO) – US based Marriott International said it has signed up with Sri Lanka’s East West Properties Plc, to open a 200-room hotel in Weligma, on the island’s Southern coast in 2014. The 11-storey Weligama Bay Marriott Resort & Spa, will be operated under Marriott’s flagship Marriott Hotels & Resorts brand. “Sri […]
Wave Tech
July 11, 2012 (LBO) – A 5.4 kilometre new breakwater at Sri Lanka’s Colombo port is armoured with 20 tonne patented concrete blocks to withstand the worst monsoons in 200 years, an official said. Three new container terminals which are schedule to be built up to 2020 are coming up within a new 375 million […]
Human Capital
July 11, 2012 (LBO) – Sri Lanka’s shipping industry will need more trained workers specializing in key areas of the shipping business as the island treads a path to become a regional logistics hub, an industry official said. The new Colombo port is expected to increase annual capacity to 13 million containers from the current […]
Sri Lanka hydro power gets brief boost
July 10, 2012 (LBO) – Sri Lanka’s hydro storage rose 30.4 GigaWatt hours to 319.1 GWh after strong showers on July 09 brought inflows mostly into small ponds in the Kelani River complex. According Sri Lanka’s state-run Ceylon Electricity Board data total hyrdo storage slipped to 288.7 GWh (millions of units) on Sunday, after slipping […]
Credit View
July 10, 2012 (LBO) – Ram Ratings Lanka has downgraded the Bimputh Lanka Investments Plc, from ‘BB’ to ‘BB-‘ after a related sugar mill was expropriated by the state last year. “The downgrade reflects the loss of financial and operational synergies derived from Sevanagala Sugar Industries (Pvt) Ltd, previously one of Bimputh’s significant counterparties.,” RAM […]
Pow Wow
July 09, 2012 (LBO) – A two day sea trade conference aimed at examining Sri Lankan’s maritime infrastructure and positioning the island as a transshipment logistic hub will kicks off Tuesday in Colombo. Sessions will also analyze and review major maritime development projects in Sri Lanka, look at attracting investments for maritime projects and oil […]