Category: Industry
Network Opportunity
June 18, 2011 (LBO) – Sri Lanka’s bourse could become one of the partners of London Stock Exchange’s ‘international board’ project where foreign stock exchanges are allowed access to its market participants and liquidity, an official said. Weerasinghe said the international board will give a less costly way for participants in the London Stock Exchange […]
Sri Lanka Aitken Spence plans eastern resort
June 18, 2011 (LBO) – Sri Lanka’s Aitken Spence group, which runs resorts in Maldives, India and Oman is in talks with two international chains to find a joint venture partner to build a 100 million dollar leisure complex in the island’s east coast, an official said. The complex will be made up of two […]
Stranded
MUMBAI, June 17, 2011 (AFP) – Efforts to refloat a stranded cargo ship that ran aground off one of Mumbai’s most popular beaches last weekend failed on Friday, officials said. The MV Wisdom has been stranded at Juhu beach since last Saturday after it slipped its moorings to a tug that was towing it to […]
Sailing Free
CAIRO, June 17, 2011 (AFP) – An Egyptian boat seized with its 22-member crew by pirates off the coast of Somalia in August 2010 has been freed, an Egyptian foreign ministry official said on Friday. Abdel Hakam did not elaborate or give details on the health of the crew — 11 Egyptians, six Indians, four […]
Express Bus
June 17, 2011 (LBO) – Sri Lanka’s government has invited private bus operators to start services on the island’s first expressway set to open by end-July with a terminal to connect other routes planned close to the capital. Private transport services minister C B Ratnayake said the government expects to have 10 air-conditioned luxury buses […]
Ship Safety
June 17, 2011 (LBO) – Japan’s ClassNK, the world’s largest ship classification society in gross tonnage terms, has opened an office in Sri Lanka as shipping traffic grows at Colombo port. The 111-year-old ClassNK has some 7,347 ships over 180 million gross tonnes or about 20 percent of the world’s commercial fleet on its registry […]
Aging Fleet
June 17, 2011 (LBO) – Sri Lanka’s government plans to arrange low-cost leases for private operators to help them replace aging fleets of buses with new ones, private transport services minister C B Ratnayake said. A large number of buses plying on the island’s roads were 15-20 years old and should be removed, he told […]
England uproot Sri Lanka top order
SOUTHAMPTON, June 16, 2011 (AFP) – Sri Lanka were reduced to 81 for four against England on a rain-marred first day of the third and final Test at the Rose Bowl here on Thursday. Only 38 overs out of a scheduled 90 were possible on the opening day of what was the first Test ever […]
Sri Lanka state-backed insurance plans under funded
June 17, 2011 (LBO) – Two Sri Lankan state-backed insurance schemes for state workers and agriculture have been topped up with taxes extracted from the people, as premium payments were not enough to cover claims, official data showed. ‘Agrahara’ a medical insurance plan for state workers with 650,000 holders had claims of 1,138 million rupees […]
SriLankan Airlines in wage deal with aircraft engineers
June 17, 2011 (LBO) – SriLankan Airlines has signed a long-term collective agreement with its aircraft engineers’ union, giving a pay rise that it said would help maintain worker harmony at a time maintenance business was growing. An airline statement said its engineering business was a key growth sector for the group and also help […]
Equal Footing
June 17, 2011 (LBO) – Fitch Ratings Lanka has assigned People’s Leasing Company’s (PLC) proposed senior debentures of up to 750 million rupees a National Long-Term rating of ‘A(lka)’. “The issue is rated at the same level as PLC’s National Long-Term rating of ‘A(lka)’ which has a stable outlook,” the rating agency said in a […]
Travel Cost
June 17, 2011 (LBO) – Sri Lanka’s government is to allow private bus operators to raise fares, private transport services minister C B Ratnayake said. Government authorities were making preparations for the fare hike, he told a forum on transport, without saying by how much fares would rise. “We are preparing a revision of bus […]