Category: Industry
Sri Lanka Pakistan CEPA talks in August: report
July 6, 2011 (LBO) – Sri Lanka and Pakistan will have talks on a comprehensive economic partnership agreement (CEPA) to broaden economic links in August in Colombo, a media report in the wake of annual trade talks in Islamabad said. Sri Lanka’s commerce minister Rishad Bathiudeen and Pakistan’s state minister for foreign and economic affairs […]
Sri Lankan shippers warned against forged trade documents
July 06, 2011 (LBO) – Documents used for international trade such as bills of lading are easily forged, a maritime fraud expert has warned Sri Lankan shippers, saying physical verification of cargoes would help reduce risk. “They don’t get resolved quickly and can take years – many banks have been caught in that position. ” […]
Sri Lank, India ferry opens new route for people, vehicles
July 06, 2011 (LBO) – A new ferry service between India and Sri Lanka offers a cheaper alternative to airlines for tourists, traders and pilgrims and even the ability to drive across, the head of the company running the service said. “Our aim was to keep the price much less than that of airlines which […]
Lending Risk
SINGAPORE, July 6, 2011 (AFP) – The Asian Development Bank (ADB) and reinsurer Swiss Re announced an agreement Wednesday to boost regional trade by guaranteeing financing risks for exporters and importer in poor countries. The guarantee means banks can be more comfortable lending to these companies, which need short-term funds to pay for their import-export […]
Port Prospects
July 06, 2011 (LBO) – A new deep-water terminal in Colombo port will help Sri Lanka take advantage of increasing Indian cargo volumes, said the head of a local firm doing the project in a joint venture with a Chinese company. Parakrama Dissanayake, chairman of Aitken Spence Maritime, said Indian efforts to modernise its own […]
Sangakkara wants politics out of Sri Lankan cricket
LONDON, July 4, 2011 (AFP) – Sri Lanka star Kumar Sangakkara has welcomed the International Cricket Council (ICC) directive requiring all national boards to be elected without political interference. His call came just days after Sri Lanka’s sports minister said he had forced the national cricket board committee to step down following allegations of financial […]
Sri Lanka to scale down T20 league
July 5, 2011 (AFP) – Sri Lanka’s cash-strapped cricket governing body is likely to scale down its inaugural Twenty20 league and go ahead without foreign players, a source close to the process said Tuesday. The Sri Lanka Premier League (SLPL) was scheduled to kick off on July 19 with players from Australia, India, New Zealand, […]
Sri Lanka appeals for power saving as reservoirs run dry
July 05, 2011 (LBO) – Sri Lanka has appealed to the public to reduce consumption during peak hours, saying hydro-power reservoirs were running dry and several thermal plants had broken down but no power cuts will be imposed. The power ministry said in a statement no power cuts will be imposed despite reports of unofficial […]
Sri Lanka carrier seeks Boeing long-haul aircraft
July 5, 2011 (LBO) – Sri Lanka’s state-run national carrier SriLankan Airlines has sought a quote from US-based Boeing aircraft to replace its ageing long-haul Airbus fleet, but the European aircraft maker is also in the running, an official said. SriLankan Airlines chairman Nishantha Wickremasinghe said the supplier of its new long haul fleet will […]
Sri Lanka carrier takes delivery of A340 aircraft
July 05, 2011 (LBO) – Sri Lanka’s national carrier, SriLankan Airlines has taken delivery of a 243 seat Airbus A340 aircraft with flatbeds, the airline said. SriLankan chairman Nishantha Wickremasinghe said the airline had asked for quotes to acquire Boeing 777 aircraft to retire older A340s. The latest aircraft has increased the airline’s A340 fleet […]
Moving Out
July 5, 2011 (LBO) – Sri Lanka’s information technology and business process outsourcing firms have started to expand out of the capital, to lower costs and also be closer to the residents of potential workers, officials said. Dinesh Saparamadu, head of HSenid, a software developer said his firm had set up a research and development […]
Tech Park
July 05, 2011 (LBO) – Sri Lanka is evaluating two sites to set up an information technology park for firms to quickly set up shop, where two foreign universities are also likely to be located, an official said. Reshan Dewapura, head of the government’s Information Communications Technology Agency said the government evaluating two sites outside […]