Category: Industry
Bacteria Battle
Jan 23, 2012 (LBO) – Sri Lanka has completed the first phase of a four-year project to study microbial resistance to antibiotics, which is a serious problem worldwide and puts a strain on healthcare systems. The first report of the surveillance of microbial sensitivity to antibiotics, initiated by the Sri Lanka College of Microbiologists (SLCM) […]
Retail Strength
Jan 23, 2012 (LBO) – Fitch Ratings Lanka has assigned Abans (Private) Limited’s proposed senior unsecured debenture issue of up to 500 million rupees a national long-term rating of ‘A-(lka)’. The debenture will rank equally with other senior debt of Abans, a statement from the rating agency said. “The rating reflects Abans’ strong market position […]
Fancy Finance
Jan 23, 2012 (LBO0 – Sri Lanka’s Senkadagala Finance said net profit rose 106 percent to 146 million rupees in the December 2011 quarter from a year ago. Total assets of the company were 10 billion rupees as at December 31, 2011, up from 6. 9 billion rupees as at March 31, 2011. Since getting […]
Sri Lanka private carrier resumes flights to north
Jan 22, 2012 (LBO) – Sri Lanka’s Expo Aviation will recommence twice daily flights to Jaffna in Sri Lanka’s north using a 12-seater Cessna Grand Caravan aircraft, a media report said. Sri Lanka’s The Sunday Times newspaper quoted Expo Aviation managing director Seraj Mohammed as saying that demand is seen picking up. The firm was […]
Recycling Venture
Jan 20, 2012 (LBO) – Sri Lanka’s Kalhari Group has tied up with Epsi Computers for safe disposal of electronic waste which will be exported for recycling, a statement said. œElectronic waste is a new area for us,” Rajapaksa said. “We expect to provide Sri Lankans the facility to easily dispose of their electronic waste […]
Sri Lanka Richard Pieris mulls hotel venture
Jan 20, 2012 (LBO) – Sri Lanka’s Richard Pieris & Company group plans to invest in the hotel sector as part of its diversification strategy amid a boom in tourists arrivals, an official said. The company is scouting for a suitable land to build a hotel, the group’s operations director Ravi Liyanage told Vimasuma.com, our […]
Merger Watch
Jan 20, 2012 (LBO) – Fitch Ratings Lanka said it has maintained Ceylease Financial Services’ ‘BB+(lka)’ National Long-Term rating on Rating Watch Evolving (RWE). Two state-owned banks control Ceylease with Bank of Ceylon owing a 55 percent stake and a 72 percent stake held by Merchant Bank of Sri Lanka (MBSL). Fitch said in a […]
Phishing Attacks
Jan 20, 2012 (LBO) – Sri Lanka’s cyber security agency has warned bank customers using internet banking services to beware of fake sites that have stolen passwords of several users. The Sri Lanka Computer Emergency Response Team Coordination Centre, the centre for cyber security in the island, said they have got about 10 complaints so […]
Sri Lanka trade mission to Vietnam in March
Jan 19, 2012 (LBO) – A business delegation from Sri Lanka will visit Vietnam in March to expand trade, investment and tourism, the Ceylon Chamber of Commerce said. The Sri Lanka-Vietnam Business Council of the Ceylon Chamber is leading a trade and investment delegation to Vietnam’s capital Hanoi and Ho Chi Minh City, the economic […]
Sri Lanka coal power plant to get tax breaks
Jan 19, 2012 (LBO) – A 500 mega watt capacity coal plant to be built in eastern Sri Lanka with Indian aid is to get a range of tax exemptions and priority in approvals, the island’s Cabinet of ministers has decided. Recognition of projects under the ‘Strategic Development Project’ law entitles them to a range […]
Sri Lanka power projects eyed by Marubeni
Jan 19, 2012 (LBO) – Japan’s Marubeni Corporation plans to return to Sri Lanka and is keen on investing in power projects including supplying liquefied natural gas, the Ministry of Industry and Commerce said in a statement. Marubeni is a diversified multinational conglomerate engaged in diversified trading activities like imports and exports of food materials, […]
Load Level
Jan 19, 2012 (LBO) – Sri Lanka’s road development agency has allowed heavy vehicles to use the island’s first expressway opened late last year linking the capital Colombo with the southern town of Galle. Trucks with containers and other goods will be allowed to use the southern expressway along with buses, Road Development Authority director […]