Category: Industry
Price Cuts
July 06, 2012 (LBO) – India’s Bajaj Auto has cut prices for Sri Lanka between 5 to 14 percent after an excise duty hike in the island slashed sales, which was 17 percent of its total exports, a media report said. India’s Economic Times said Sri Lanka accounted for 5-7 percent of total sales and […]
Sri Lanka power users asked to conserve energy
July 05, 2012 (LBO) – Sri Lanka’s power users should cut energy use by 10 percent to help avoid power cuts until more rain comes in the inter monsoonal period, power minister Champika Ranawaka said. “We will keep providing power. But if energy is conserved by another 5 percent, it will make it easier for […]
Sky Data
July 05, 2012 (LBO) –Sri Lankan firms engaging in large scale data operations could switch to storing information on remote centres over the internet, that could trim costs by up to 70 percent, IT officials said.
Merchant Rating
July 05, 2012 (LBO) – RAM Ratings Lanka has confirmed an ‘AA-‘ domestic long term rating of Merchant Bank of Sri Lanka and ‘P1’ short term rating of the company and a proposed billion rupee commercial paper. The full statement RAM Ratings Lanka reaffirms MBSL’s ratings at AA-/P1 RAM Ratings Lanka has reaffirmed Merchant Bank […]
Fast Trades
July 05, 2012 (LBO) – South Africa’s Johannesburg Stock Exchange (JSE) has started to use trading software by Sri Lanka based MillenniumIT, a unit of the London Stock Exchange group from July 02. The software is running live in 14 installations excluding JSE, the company said. The trading engine of the stock exchange has also […]
Afridi, Gayle among star-studded icons for Sri Lanka Cricket premier league
July 03, 2012 (LBO) – Pakistani allrounder Shahid Afridi and West Indies opener Chris Gayle have been named the two international iconic players for the inaugural Sri Lanka Twenty20 premier league, Sri Lanka Cricket said. The August 10-31 tournament will also feature Sri Lankan skipper Mahela Jayawardene and former skippers Kumar Sangakkara and Tilakaratne Dilshan […]
Power Brakes
July 03, 2012 (LBO) – New vehicle registrations in Sri Lanka may drop up to 40 percent in 2012 and dreams of motor bike owners to move on to small cars will be shattered, industry officials said. In 2011, 525,421 new vehicles including 253,331 motor bikes and 57,886 motor cars were registered, up 46 percent […]
Sri Lanka dendro power plants may face higher costs: official
July 01, 2012 (LBO) – Dendro power plants in Sri Lanka may be unviable if too many are licensed to operate close to each other because competition may drive up firewood prices to high levels, an industry official has warned. Tokyo Power, a unit of Sri Lanka’s Tokyo Cement group is building a 5 MegaWatt […]
Sri Lanka to keep getting US, GSP trade benefits
June 30, 2012 (LBO) – Sri Lanka will continue to receive preferential trade concessions after ‘noteworthy efforts’ were made by the state to address worker rights issue, US Trade Representative Ron Kirk has said. Sri Lanka gets duty free export rights to 5,000 odd items including tires, activated carbon, rubber gloves, plastic products, and kitchenware […]
Shipping Hub
June 30, 2012 (LBO) – Hadi Hamad Al-Hammam group, a Saudi Arabia based firm, will invest 44 million US dollars in Seagulf Shipyard (Pvt) Ltd, a boat repair centre in Sri Lanka’s Galle port, the state investment promotion agency said. “The project will also create employment for marine engineers and maintenance in ship repair and […]
Sri Lanka hospitality school hopes to fill skills void
June 27, 2012 (LBO) – A leisure industry school linked to a UK-based professional body said it is stepping to fill a growing need for leisure sector executives as the island sees a tourism boom after the end of a three decades long war. Sri Lanka’s tourism sector is booming after the end of a […]
Warehouse Land
June 28, 2012 (LBO) – Sri Lanka’s ports agency will lease land to three companies to build warehouses at a new industrial port in Hambantota in the island’s south, minister Keheliya Rambukwelle said. McLarens Holdings Ltd, will invest 4.0 million US dollars on a 2.5 hectare block, Ace Distripartks (Pvt) Ltd, will invest 3. 0 […]