Category: Industry
Currency Effect
Mar 07, 2011 (LBO) – Colombo Dockyard has warned that a stronger rupee could hit profitability at the yard which last year saw profits dip owing to stiff competition and a downturn in its main tanker repair business. Ship repair, its main business. contributed only 30 percent of the total revenue volume of Sri Lanka’s […]
Land Strip
Mar 07, 2011 (LBO) – The Sri Lankan state will acquire a one metre strip of land on either side of roads for utilities to avoid the need for digging up roadways, a senior official said. Pemasiri said the high cost of acquiring land has deterred the state electricity utility from going underground with most […]
Sri Lanka flight caterer expects more business
Mar 07, 2011 (LBO) – Sri Lanka’s sole inflight caterer says it is experiencing a surge in demand as the end of a war is drawing more tourists to the country and is also actively chasing and winning new business from airlines which did not buy from Colombo. Though SriLankan Catering, a unit of the […]
Telco Investment
Mar 07, 2011 (LBO) – Sri Lanka Telecom, the country’s largest fixed access provider said it is increasing capital expenditure which had flagged during a recent downturn to modernize its network, build broadband capacity and expand into former war torn areas. The firm is also selling wholesale capacity to other operators. The firm had a […]
Sri Lanka Galadari unit in profit for second successive quarter
Mar 07, 2011 (LBO) – Sri Lanka’s Galadari Hotels said profits rose 49 percent in the December 2010 quarter to 320 million rupees from a year ago, helped by forex gains, its second successive quarterly profit after a string of losses. The Employees Provident Fund (EPF), a pension fund of private citizens managed by the […]
Sri Lanka-Aussies washed out, Dhaka in security row
NEW DELHI, March 5, 2011 (AFP) – Torrential rain washed away defending champions Australia’s World Cup clash with Sri Lanka on Saturday, just as the eagerly awaited encounter between the fierce rivals was coming to the boil. Sri Lanka had made 146-3, with skipper Kumar Sangakkara hitting an unbeaten 73, when Colombo’s R. Premadasa stadium, […]
Angry Bangladesh fans stone West Indies team bus
DHAKA, March 4, 2011 (AFP) – Angry Bangladesh fans stoned the West Indies bus on Friday after the home team crashed to a humiliating nine-wicket defeat in the cricket World Cup. Two windows of the bus were smashed as it was leaving the Sher-e-Bangla stadium after the match in what police claimed was a case […]
Hair still has doubts about Murali
SYDNEY, March 5, 2011 (AFP) – Former Australian Test umpire Darrell Hair still has doubts about Sri Lankan star Muttiah Muralitharan’s bowling action, more than a decade after he called him for chucking, a report said Saturday. Hair, who called Muralitharan for throwing in 1995, said he felt that some of the Sri Lankan legend’s […]
Sri Lanka December exports, imports hit new high
Mar 05, 2011 (LBO) – Sri Lanka’s exports and imports hit new monthly highs in December 2010 with shipments of apparel, the main industrial export, rising sharply despite the loss of duty free access to Europe. Expenditure on non food consumer import category also increased mainly due to higher imports of motor vehicles. All categories […]
Job Market
Mar 05, 2011 (LBO) – A Sri Lankan employment network is encouraging businesses to give jobs to over 15,000 youth in the former northern war zone who are seeking work and help improve ethnic relations in the country. “Access to the job market will renew hope in the community in the resettled area as well […]
Jet Fuel
Mar 04, 2011 (LBO) – Sri Lanka is to expand to three million litres storage capacity at an aircraft refuelling facility in a new international airport being built in the south, a petroleum ministry statement said. The state-owned refiner, Ceylon Petroleum Corporation, is to design and fund the aircraft hydrant refuelling system at the Maththala […]
Gas Share
Mar 04, 2011 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is to lose exclusive rights to buy the entire LPG production of the state oil refiner Ceylon Petroleum Corporation, a government statement said. The supply deal with the CPC is also under an order of the Supreme Court and Laugfs also relies […]