Category: Industry
Sri Lanka thermal power generation up
June 20, 2012 (LBO) – Sri Lanka’s thermal power generation had picked up sharply in the first quarter of 2012 with total generation up 8.8 percent from a year earlier while hydro generation fell steeply, official data shows. Total generation rose 8.8 percent to 2,956 GigaWatt hours (millions of units) indicating strong demand in the […]
” apparel plants in former war-zone
June 20, 2012 (LBO) – Sri Lanka’s Timex and Fergasam group, will begin construction of two energy efficient ‘green’ apparel factories in the northeastern Mannar region this month, the state investment promotion agency said. “Sri Lanka has the advantage of having high environmental standards. Already a number of companies that operate under the BOI regime […]
’s Faithful
June 20, 2012 (LBO) – Sri Lanka’s amateur radio operators have renewed their call to be included in communication work during national disasters, after the defence authorities relaxed rules on clearing equipment. “When everything goes down, short wave remains alive,” an enthusiastic Goonetilleke said. Their valuable role was acknowledged by the late Sir Arthur C […]
Full Service
June 20, 2012 (LBO) – Sri Lanka’s Logiventures, a unit of conglomerate Hayleys PLC, is expanding its fleet of car carriers to meet the growing demand to transport vehicles being cleared from the southern port of Hambantota. Logiventures is also investing in a vehicle transit facility close to the Hambantota port, to facilitate clearing, inspection […]
SriLankan Airlines raises US$175mn from Islamic loan
June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines […]
Finance Awards
June 19, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon and Bank of America Merrill Lynch had clinched awards for the best bank and best foreign investment bank for Sri Lanka given by Finance Asia, a financial magazine. It also did a large equity investment banking deal arranging the sale of a stake worth […]
Banking Risks
June 19, 2012 (LBO) – Sri Lanka’s banking industry faces ‘very high’ economic and credit risk and the industry itself faces “very high risk” in its institutional framework amid regulatory conflicts, a rating agency has said. Standard & Poor’s, a rating agency gave Sri Lanka a score of ‘8’ on a scale where the highest […]
Sri Lanka hosts India for one-day, Twenty20 cricket series in July
June 19, 2012 (LBO) – Sri Lanka will host neighbouring India for a one-day series and a Twenty20 cricket match from July, the island’s governing body said. The teams will play five one-day games across in Hambantota, Colombo and Pallekelle. The sole T20 game will be played at Pallekele, Sri Lanka Cricket said Tuesday. The […]
Sri Lanka recall Kulasekera, Perera for first Test
June 19, 2012 (LBO) – Sri Lanka Cricket have recalled fast bowler Nuwan Kulasekera for the first Test against Pakistan that begins on Friday, a statement said. Selectors led by Asantha de Mel also picked allrounder Jeevan Mendis, left-arm fast bowler Chanaka Welegedara and bowler Nuwan Pradeep for the 15-man squad, Sri Lanka Cricket said […]
ICC suspends Pakistani skipper Misbah from Galle Test
June 19, 2012 (LBO) – Pakistani captain Misbah-ul-Haq will miss the first Test against Sri Lanka in Galle, after his side was found guilty of bowling less overs, the International Cricket Council said. In March, Pakistan was also fined for a slow over-rate in the opening ODI of the Asia Cup against Bangladesh in Dhaka. […]
Sri Lanka allows private helicopter operations in Colombo
May 22, 2012 (LBO) – Sri Lanka’s Deccan Aviation said it had established a privately run helipad in Colombo city after authorities relaxed rules that prevented civil aircraft approaching within 10 miles of the capital. Deccan Aviation said Sri Lanka’s Civil Aviation Authority and the Ministry of Defence have allowed private operators to establish eight […]
Singlish Award
June 18, 2012 (LBO) – A British national living in Sri Lanka who is a part-time teacher and writer has been honored by Queen Elizabeth for his work on ‘Sri Lankan English’ which has its own peculiarities. He is now working on a trilingual learners’ dictionary of colloquial Sinhala, English and Tamil. Michael Meyler has […]