Category: Industry
Sri Lanka hotel planned by China Harbour: report
Nov 22, 2011 (LBO) – China Harbour Engineering Company (CHEC) a firm active in several Chinese financed project in Sri Lanka is looking to build a hotel in Hambatota in the south of the island, a media report said. Sri Lanka’s Ceylon Today newspaper said CHEC had also looked at lakefront land in Colombo. “They […]
Vietnam welcomes Sri Lankan businesses
HANOI, Nov 21 (AsiaPulse) – The Vietnamese Government will create the possible best conditions for Sri Lankan and Vietnamese businesses to approach investment and trade opportunities. State President Truong Tan Sang made this affirmation at a reception for Asoka Hettigoda, President of the National Chamber of Commerce of Sri Lanka, in Hanoi. He said he […]
‘l flights
CANBERRA, Nov 21 (AsiaPulse) – Australian international air passengers will soon no longer be banned from carrying liquids in their carry-on luggage. The federal government has announced that new advanced explosive detection equipment will be installed at Australia’s international airports by 2013. Currently, Australians booked on flights overseas are not permitted to carry any containers […]
Sri Lanka to cut taxes on vehicles for tourism
Nov 21, 2011 (LBO) – Buses imported for tourism will be freed from value added tax and duties on vehicles imported for airport taxi services will be halved, President Mahinda Rajapaksa told parliament. Tourism is one of the most profitable sectors after a war ended in May 2009. Presenting the 2012 budget, Rajapaksa said airport […]
Mortgage Profits
Nov 20, 2011 (LBO) – Profits at Sri Lanka’s HDBC Bank, a mortgage lender fell 52 percent to 8. 1 million rupees in the September 2011 quarter from a year earlier, despite better margins, due to lower fee income, interim accounts showed. The firm reported earnings of 1.27 rupees per share for the quarter. It […]
Finance Growth
Nov 19, 2011 (LBO) – Profits at Sri Lanka’s Vallibel Finance, rose 157 percent to 60.1 million rupees in the September 2011 quarter from a year earlier, helped by strong loan growth and other income, interim accounts showed. Lost loss provisions rose 42 percent to 2.8 million rupees. Other income rose 195 percent to 25. […]
Rail Link
Nov 18, 2011 (LBO) – Sri Lanka has signed a deal with India to restore part of a northern railway line that was damaged during the ethnic war under project funded by soft loans from New Delhi. The agreement between Sri Lanka Railways and the Indian government owned IRCON was for the restoration of the […]
” for Aussies as South Africa collapse
JOHANNESBURG, November 17, 2011 (AFP) – Teenage debutant Pat Cummins celebrated a “brilliant day” after Australia sent South Africa tumbling to 266 all out on the first day of the second and final Test at the Wanderers on Thursday. Cummins only took one wicket but generated impressive pace after becoming the second youngest Australian to […]
Sri Lanka eastern villages lit up by China
Nov 18, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board will light up 268 villages in the former war zones in the island’s East with Chinese funding, a senior minister said. The expansion will cover villages in Batticaloa and Trincomalee which emerged from a 30 year war. The project will have a domestic finance […]
Shipping Cycle
Nov 18, 2011 (LBO) – Sri Lanka’s Colombo Dockyard said September 2011 quarter net profit fell 43 percent to 455 million rupees from a year ago as revenue from both ship building and repair came down. Sales of the yard, 51 percent owned by Japan’s Onomichi Dockyard Company, fell 27.7 percent to 3.5 billion rupees […]
Safety Questions
Nov 18, 2011 (LBO) – Sri Lanka’s first expressway has serious flaws that make 100 kilometres an hour travel unsafe, an organisation of transport professionals has warned, questioning whether safety features were compromised in cost cutting. The southern expressway linking the capital Colombo with the south is to be formally opened on November 27 and […]
Cargo Lift
Nov 18, 2011 (LBO) – Container terminals at Colombo port run by state-owned Sri Lanka Ports Authority (SLPA) have received a second batch of new cranes to replace aging equipment, a statement said. Three gantry cranes and eleven rubber tired yard gantry cranes to transfer cargo were delivered this week by Chinese manufacturer ZPMC. They […]