Category: Industry
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 […]
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 […]