Category: Industry
Sri Lanka seal World Cup quarters berth
NEW DELHI, March 10, 2011 (AFP) – Sri Lanka became the first team to qualify for the World Cup quarter-finals on Thursday after an emphatic victory over Zimbabwe that virtually ensures last eight spots for New Zealand and Pakistan. The joint hosts now have seven points from five games in Group A, one clear of […]
Sri Lanka in talks for a 30MW municipal waste plant
Mar 11, 2011 (LBO) – Sri Lanka’s state -run Ceylon Electricity Board is in talks with a private developer to buy power from a 30MegaWatt municipal waste burning plant, a government minister said. Minister Ranawaka said there are about proposals to start 15 waste-burning plants. Sri Lanka’s power regulator’s latest tariffs offer 22. 02 rupees […]
Affordable Access
Mar 11, 2011 (LBO) – Sri Lanka will seek to negotiate with international software vendors to try to bring down prices by up to half in its drive to promote information and communication technology business, a report said. Sri Lanka has recently been cracking down on software piracy after being ranked the second worst offender […]
Banking Rules
Mar 10, 2011 (LBO) – Sri Lanka’s banking regulator is examining bonuses and compensation packages of bankers to see if they are excessive with the aim of limiting them if necessary, a central bank report said. “Directions on integrated risk management and Pillar II of Basel II which relate to additional prudential requirements following the […]
Spreading Out
Mar 10, 2011 (LBO) – Sri Lanka’s Sampath Bank said it plans to set up 40 branches this year, including some in the former north-east war zone, hire more staff and look for mergers as margins get thinner. Sampath Bank chairman I W Senanayake said they opened 40 new branches in 2010 alone, adding to […]
Buck Stops
Mar 10, 2011 (LBO) – Most of the loss of Ceylon Petroleum Corporation, Sri Lanka’s state-run petroleum retailer is due to subsidized sale of furnace oil to a state power utility, the island’s oil minister has said. Furnace oil which cost the CPC 81 rupees a liter is sold to the Ceylon Electricity Board (CEB) […]
‘s power utility in profits, cashflow positive: minister
Mar 10, 2011 (LBO) – Sri Lanka’s Ceylon Electricity Board, the island’s state-run power utility ended 2010 in profits and is also cash positive being able to settle is payments on time, power minister Patali Ranawaka said. The CEB had sold 121.86 billion rupees of power including 2.6 billion rupees worth energy for street lighting […]
Sri Lanka buys new short wave transmitters for air traffic
Mar 10, 2011 (LBO) – Sri Lanka will buy new equipment to replace 24 year old shortwave transmitters for the regional air traffic control centre at Ratmalana Airport, a government minister said. The Colombo flight information region (FIR) controlled from Ratmalana covers a large part of the Indian Ocean. Minister Anura Yapa said the cabinet […]
Lubricant Shift
Mar 09, 2011 (LBO) – Sri Lanka’s Nawaloka ABC Petroleum, which entered the lubricant market recently, says the price-driven lubricant market is shifting towards quality and growing after a slowdown. With the increase of vehicles in the local market due to tax cuts we see that consumers are more into performance and quality-based product, said […]
Lofty Monitor
Mar 09, 2011 (LBO) – Sri Lanka plans to use satellite technology to monitor distribution of petroleum products to fuel retail stations from storage terminals to prevent theft and contamination, a statement said. Petroleum industries ministry secretary Titus Jayawardena said the bowser drivers will not be allowed to deviate from official routes during distribution nor […]
Connectivity Cost
Mar 09, 2011 (LBO) – Sri Lanka’s new information and communication technology plan for 2011-1016 advocates further cuts in high-speed broadband communication costs with the aim of increasing ICT business and creating more jobs. Present broadband charges which are higher than competitor countries are deterring foreign ICT and business process outsourcing (BPO) firms from setting […]
Devastated Pietersen adds to World Cup injury woes
NEW DELHI, March 7, 2011 (AFP) – England star Kevin Pietersen became the injury-cursed World Cup’s latest victim on Monday, his high-profile departure predictably dwarfing Canada’s low-key win over fellow no-hopers Kenya. Pietersen will head home to undergo a hernia operation that he had been hoping to postpone until after the competition. But after looking […]