Category: Industry
Sri Lanka power demand hits new peak
Mar 23, 2011 (LBO) – Sri Lanka’s night power demand hit a new peak load of 2,000 MegaWatts on Tuesday amid hot seasonal weather and growing usage, in a day that the utility officially commissioned a new 300 MegaWatt coal plant. Power demand hit a peak of 1,999 MegaWatts at 7. 30 in the evening […]
Sri Lanka insurers need skills to manage forex risk: rating agency
Mar 23, 2011 (LBO) – Sri Lanka’s insurers will need skills and rules to manage foreign exchange risk after the regulators allowed up to 20 percent of their reserves to be invested abroad, a rating agency has said. Meanwhile life premium had risen 16 percent in the first half of 2010. RAM Ratings Lanka said […]
International Board
MADRID, March 22, 2011 (AFP) – The London Stock Exchange on Tuesday announced plans to create an unprecedented trading network that will allow blue-chip stocks to be traded in up to six countries. The planned partnership follows news of a planned merger between the London and Toronto stock exchanges, illustrating once again the move towards […]
Restricted Entry
Mar 23, 2011 (LBO) – A new British student visa scheme will restrict immigration, with a higher English standard, no right to work and a time limit to study for degrees while encouraging student entrepreneurs. A British High Commission statement said the new scheme is meant to prevent abuse of the system while making it […]
Sri Lanka sees interest from Marriot, Hyatt
Mar 23, 2011 (LBO) – International hotel chains Marriot and Hyatt have shown interest in Sri Lanka’s southern Hambantota city, which is bidding for the 2018 Commonwealth Games, an official said. Sri Lanka’s tourist development authority chief Nalaka Godahewa said Marriot and Hyatt have looked for land in Hambantota to build hotels, though no applications […]
Sri Lanka to add a thousand rooms for tourists this year
Mar 22, 2011 (LBO) – Sri Lanka’s tourism authority says another one thousand rooms will be added to the current tourist accommodation by the end of the year to cater to booming demand. “One thousand rooms will be added and they will be in different categories,” Nalaka Godahewa, Chairman, Sri Lanka Tourism said. “Our statistics […]
Regulated Listing
Mar 22, 2011 (LBO) – Senkadagala Finance, a closely-held registered finance company, was allowed to trade on Colombo’s Stock Exchange on March 22, but there were no deals despite offers going up to ten times its net asset value, dealers said. The CSE is shortly to bring minimum ‘free float’ limits for listed companies to […]
Aravinda De Silva hits out at Sri Lanka soft centre
March 22, 2011 (AFP) – World Cup winner Aravinda de Silva believes Sri Lanka’s misfiring middle order could be the weakest link in Saturday’s quarter-final clash against England. De Silva, who is now the team’s chief selector, also said the day-night match at the R. Premadasa stadium will be “tough”, with the toss playing a […]
Sri Lanka exports to get easier China customs clearance
Mar 22, 2011 (LBO) – China plans to make it easier for Sri Lankan exports to the country to clear customs and be distributed to local markets, according to the island’s Ministry of Industry and Commerce. “China is planning to provide favourable policies for custom clearance and inland transportation for exports coming from Sri Lanka,” […]
Sri Lanka to add 600MW of power by 2014: president
Mar 22, 2011 (LBO) – Sri Lanka will add another 600 MegaWatts of capacity to the national grid by 2014, ensuring uninterrupted 24-hour power supply, President Mahinda Rajapaksa said while commissioning the country’s first coal power plant. The country is also seriously looking at alternative, clean sources of energy, not wanting to depend on a […]
Sri Lanka apparel maker deepens lingerie focus
Mar 22, 2011 (LBO) – Sri Lanka’s Brandix, a top apparel exporter, is expanding its lingerie business by launching a separate division, after getting full control of two joint venture factories and buying a third facility, the group said. The lingerie business now employs 2,600 people and there were plans to increase workers by 20 […]
Sri Lanka UN tourism confab to debate media
Mar 22, 2011 (LBO) – Sri Lanka will host a United Nations backed tourism conference covering Asia Pacific which will also debate the role of media in tourism, an official said. The sessions include a one day seminar on “Mainstreaming tourism in the media” which will see the participation of international media and marketing experts. […]