Industry – Page 712 – Lanka Business Online

Consumer Finance

Dec 02, 2010 (LBO) – Singer Finance (Lanka), a subsidiary of the Sri Lankan unit of the Singer multinational, plans to raise 400 million rupees by offering 26. 66 million shares at 15 rupees each, officials said. The Colombo stock market has been on a bull run this year, hitting record highs, although prices have […]

Credit Upturn

Dec 02, 2010 (LBO) – Sri Lanka’s HSBC unit is seeing a steep increase in corporate lending as the island recovers from a 30-year war and the country is re-building infrastructure, an official said. “Corporate banking has grown 30 percent from January to October,” HSBC chief executive Nick Nicolaou said. “Though people say banks aren’t […]

Piracy Business

KUALA LUMPUR, December 2, 2010 (AFP) – Malaysia says it is taking steps to secure the release of a Malaysian-flagged cargo ship and its 23 crew seized by Somali pirates last week in the Indian Ocean. The MV Albedo container vessel was en route from the United Arab Emirates to Kenya when it was hijacked […]

Tech Tour

Dec 01, 2010 (LBO) – Computer students from Sri Lanka’s northern Jaffna University an area that was caught up in a three decade war has visited software and outsourcing firms in the island’s capital, for the first time in 20 years. Two lecturers had also accompanied the students. One lecturer had said that it was […]

Sri Lanka gets 30 proposals for reservoir tourism: minister

Dec 01, 2010 (LBO) – Thirty parties have responded to a call for proposals to operate boat and leisure services at major reservoirs in Sri Lanka, irrigation minister Nimal Siripala de Silva said. Once the proposals are accepted the government was planning to kick off the services in January starting with the Victoria and Polgolla […]

Sri Lanka water minister to clamp down on mini-hydros: report

Dec 01, 2010 (LBO) – Sri Lanka’s irrigation ministry is planning to restrict future hydro power development on small river systems in the country in a bid to address environmental concerns, a media report said. Most of the best locations involving high rainfall and low capital costs have already been developed. Mini-hydro are cheaper than […]

Sri Lanka hires Chime group for Games bid

Nov 30, 2010 (LBO) – Sri Lanka has hired public relations firm Bell Pottinger and other units of Chime Communications marketing group as advisors in its bid to host the 2018 Commonwealth Games, a statement said. PwC firms provide industry-focused assurance, tax and advisory services. The team is led by pmplegacy, a global sporting events […]

Sri Lanka trade needs more govt co-ordination: official

Nov 30, 2010 (LBO) – Sri Lanka’s government agencies involved in exports and imports need to co-ordinate better to minimise delays and smoothen trade, said Sarath Jayatilake, former Director General of Sri Lanka Customs. Export consignments already checked by one agency are sometimes inspected again by a different agency, he told a stakeholders meeting on […]

Sri Lanka Malaysia hydro firm in Rs600mn IPO

Nov 30, 2010 (LBO) – Panasian Power Limited, a unit of Malaysian based Majulia group is selling 200 million shares to raise 600 million rupees in an initial public offering which will open on December 07, officials said. Majulia owns the firm through its energy unit, Power Hub International (PHI). Panasian Power owns a 2.0 […]

‘s president seeks barter trade with Sri Lanka

November 29, 2010 (AFP) – Pakistani President Asif Ali Zardari called for a barter agreement with Sri Lanka on Monday to boost trade between the two countries. Zardari, on a visit to the island, told legislators that they should switch to exchanging their goods and services rather than depend on dollar-denominated import-export trade that drew […]

Tele Trends

Nov 29, 2010 (LBO) – Sri Lanka’s mobile subscribers grew 24.3 percent in the third quarter of 2010 from a year earlier, while fixed access sector grew at a much slower 3. 4 percent, official data show. During the past 12 months 3.2 million mobile users have been added according to data released by the […]

Tele Offer

Nov 29, 2010 (LBO) – Lanka Bell, a Sri Lankan wireless fixed access operator using CDMA (code division multiple access) technology controlled by listed Distilleries Company of Sri Lanka has been offered for sale. Suntel, a unit of Sweden’s Telia, Sri Lanka’s other fixed-access-only operator has also had talks with possible buyers. The telco was […]