Category: Industry
Sri Lanka export financing can drive export growth: Verité Research
Sep 15, 2015 (LBO) – Sri Lanka should recognize the importance of export financing especially with regard to the small and medium scale sector to expand existing exports to the world, Verité Research said.Sri Lanka’s share of exports to GDP was 15 percent last year and has been on a declining trend since 2000.The research […]
High number of Sri Lanka vehicle registrations continue: JB Securities
Sept 14, 2015 (LBO) – Vehicle registration momentum continued into August although in most categories the numbers were lower than the all-time records set in July, JB Securities said in a research note. Total registrations were 50,555 in August lower than 62,221 recorded in July – the main contributor to the slowdown was a fall […]
Sri Lanka stocks close up 0.13-pct: JKH warrant 22 hits new low
Sep 14, 2015 (LBO) – Sri Lankan stocks closed up 0.13 percent on Monday following Foreign Minister Mangala Samaraweera’s statement at UN Human Rights Council session with some banks and high cap stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 8.95 points at 7,162.44 higher 0.13 percent. S&P SL20 closed […]
CEB includes nuclear power in generation plan
Sept 14, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board has included a 600 megawatt nuclear power plant as an option for power generation from 2030 onwards, in its long-term generation plan, now open for public discussion.“From a technical point of view, the capacity of the present system is considerably small to accommodate a nuclear […]
Asian stocks mixed amid new Chinese data and Fed uncertainty
Sep 14, 2015 (LBO) – Asian stocks were showed mixed sentiment in cautious trade on Monday, according to foreign media reports as investors grew cautious over new Chinese data released Sunday and an expected Federal Reserve’s policy meeting later this week. Japan shares fell and Chinese markets wavered Monday, after economic data over the weekend […]
Gas not included in Sri Lanka’s power generation plan
Sep 12, 2015 (LBO) – Gas found in the Mannar basin has not been included in Sri Lanka’s long-term power generation plans as discovery of the natural gas resources is still at very early stages, a Ceylon Electricity Board report says. The gas quantities have not been quantified with reasonable accuracy, the report adds, even […]
Sri Lanka CEB sees USD13 bn investment in power plants over next 20 years
Sep 11, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board says the total estimated cost to implement the 2015-2034 long-term electricity generation plan is approximately 13 billion US dollars. The generation plan says: “The total investment required for implementing the Base Case Plan 2015-2034 in the next 20 years is approximately USD 12.96 Billion without […]
Sri Lanka stocks close down 0.09-pct
Sep 11, 2015 (LBO) – Sri Lankan stocks closed down 0.09 percent on Friday mainly on concerns of exchange rate and balance of payment issues with some telecom and banking sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 6.45 points at 7,153.49 lower 0.09 percent. S&P SL20 closed […]
Fitch affirms Citibank Colombo branch at AAA
Sep 11, 2015 (LBO) – Fitch Ratings Lanka has affirmed Citibank Colombo Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS NATIONAL RATINGS CitiSL’s rating is the highest on the National Rating scale and reflects the credit profile and financial strength of Citibank, N.A. (A+/Stable). Citibank, N.A.’s rating is higher than Sri […]
Sri Lanka’s foreign affairs deputy Harsha de Silva says “This is where the game is”
Sep 11, 2015 (LBO) – Sri Lanka’s new Deputy Minister of Foreign Affairs Harsha de Silva told Lanka Business Online that discussions are on to develop a foreign policy towards achieving the island’s economic goals through diplomacy, and he is excited about the new task given. “This is a good opportunity,” de Silva said. “We […]
Laugfs to set up solar power plant in Hambantota
Sept 11, 2015 (LBO) – Laugfs Holdings Ltd. has acquired two solar panel projects with a plan to set up the largest solar power generator in the island. Laugfs Power, which is a unit of Laugfs Gas PLC, has acquired Anorchi Lanka Ltd, and Irish Eco Power Lanka Ltd, which have rights to build two […]
SriLankan Airlines appoints new CEO
Sep 10, 2015 (LBO) – SriLankan Airlines has appointed Captain Suren Ratwatte as the new chief executive officer of the airline with effect from October 2015.The airline said in a statement that Captain Ratwatte is an airline pilot with over 30 years of experience in the field whose first appointment was with SriLankan’s predecessor, Air […]