Category: Industry
Port City
July 10, 2012 (LBO) – Sri Lanka is expecting 15 billion US dollars of investments to pour into a ‘port city’ on reclaimed beachfront land bordering the island’s main port in Colombo, during the next 10 years, an official said. Reclamation of the 243 acre site is set to begin in October and is expected […]
Port Industries
July 10, 2012 (LBO) – Sri Lanka’s state-run ports agency is targeting a billion US dollars of investment at the southern Hambantota Port in a request for proposals that is closing in August 2012, an official said. The Chinese finance port is positioned as an industrial port with transshipping via roll-on-roll off vessels, entrepot trade […]
Trinco Projects
July 10, 2012 (LBO) – Sri Lanka’s state-run ports agency is evaluating nine proposals from nine investors to build industries near the northeastern port of Trincomalee, chairman Priyath Wickrema said. Sri Lanka’s Hambantota port has already received about 800 million US dollars of investments and a second investment round where bids are closing on August […]
Credit Trend
July 09, 2012 (LBO) – Credit to the state from Sri Lanka’s banking system eased in May 2012 and loans to business were back at levels seen before the Central Bank began to sterilize foreign exchange sales last year, official data show. Credit to private sector rose 36.1 billion rupees in May 2012 to 2,215 […]
Sri Lanka state airlines get Rs2.38bn handout
July 08, 2012 (LBO) – Sri Lanka’s loss-making state-run airlines have been given 2. 28 billion rupees in tax payer money during the first half of 2012, a mid -year fiscal report has revealed. Mihin Lanka on the other hand had made a net profit before interest of 2. 0 billion rupees and had finance […]
‘s ITC hotel
July 8, 2012 (LBO) – A mixed property project including a hotel in Sri Lanka’s capital Colombo by India’s ITC has been given sweeping tax breaks under the island’s strategic investment law, a government notice said. Welcome Hotels Lanka (Pvt) Ltd, a newly incorporated ITC unit in Sri Lanka has already paid 73. 5 million […]
Sri Lanka on business traveller map says Colombo hotel
July 07, 2012 (LBO) – Cinnamon Lakeside, a hotel in Sri Lanka’s John Keells group had won an award from a UK-based business travel publication, giving international recognition to high industry standards, officials said. ‘Business Destinations’, a magazine targeted at corporate buyers and travel professionals, had named Cinnamon Lakeside the best luxury hotel in Sri […]
Logistics
July 07, 2012 (LBO) – Sri Lanka has moved up 56 places to 81 in a World Bank logistics performance index for 2012, as a result of improvements in infrastructure and quality of logistics services, a business chamber has said. To compile the index, nearly a thousand international freight forwarders have been surveyed on areas […]
’s Jayasuriya among top picks for premier league
July 06, 2012 (LBO) – Veteran Sri Lankan cricketer turned politician Sanath Jayasuriya, Rangana Herath and Thisara Perera were among the six local players to be valued at a maximum price of 35,000 dollars for the draft of the maiden Sri Lanka Premier League. Uva: Andrew McDonald — 35,000 dollars Umar Gul — 25,000 dollars […]
Sri Lanka power utility losing Rs200mn a day: minister
July 06, 2012 (LBO) – Ceylon Electricity Board, Sri Lanka’s state-run power utility is losing 200 million rupees a day, and a ministerial committee is making proposals to fix the energy sector, power minister Champika Ranawaka said. Ministers John Seneviratne (an former power minister), A H M Fowzie (a former petroleum minister) Nimal Siripala de […]
Sri Lanka in final talks over India coal joint venture: official
July 6, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is in the final stage of discussions with India’s National Thermal Power Corporation to build a 500 MegaWatt coal plant, an official said. “We are in final stage of discussion,” deputy chairman of Sri Lanka’s Ceylon Electricity Board Anura Senaka Wijayapala said. “We hope […]
Bank Upgrade
July 6, 2012 (LBO) – Sri Lanka’s state-run People’s Bank has been upgraded to ‘AA+(lka)’ from ‘AA(lka)’ on strengthening links with the state, while the ratings of its subsidiaries have also been upped. Subsidiaries People’s Leasing Company has been upgraded to ‘AA-(lka)’ from ‘A+(lka) and People’s Finance has been upgraded to ‘A(lka)’ from ‘A-(lka)’. People’s […]