Category: Industry
Terminal Tales
Nov 10, 2010 (LBO) – South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, said volumes rose 17 percent in October to 173,528 containers from a year ago. SAGT is 42.2 percent owned by JKH and has been contributing a big chunk of the conglomerate’s profits in recent years, along […]
Sri Lanka seeks advisor for Commonwealth Games bid
Nov 09, 2010 (LBO) – Sri Lanka seeks to hire a consultancy firm to advise the government on its bid to stage the Commonwealth Games in 2018 in the southern city of Hambantota, the central bank said. Central bank governor Nivard Cabraal has been appointed to head an organizing committee which will handle the island’s […]
” by RAM
Nov 08, 2010 (LBO) – Sri Lanka’s state-run National Insurance Trust Fund has been given a ‘claims paying ability’ rating of ‘AAA’ with a ‘stable’ outlook by RAM Ratings on the strength of state ownership and government related business. NITF had an expense ratio of 11.09 percent in 2009 which was the lowest in the […]
Broad Spread
Nov 09, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator said it had added 80,000 new broadband customers in 2010 and its base of 200,000 customers was 70 percent of the market. About 20 percent of the operator’s wireline customers were now using its ADSL (asymmetric digital subscriber line) services, the […]
Telecom Tower
Nov 10, 2010 (LBO) – Sri Lanka will start building a 350-metre telecom tower in the capital Colombo in December and intends to sell shares to the public in a firm to be set up to operate it, an official said. Television broadcasters, radio stations and telephone operators will be able to use the tower […]
Lower Revenues
Nov 09, 2010 (LBO) – Sri Lanka’s DFCC Bank’s net profits were down 36 percent to 823 million rupees in the September 2010 quarter from a year earlier amid lower interest rates and profits of Commercial Bank, an associate, no longer being consolidated. Group gross loans and advances were flat at 54. 5 billion rupees […]
Australia end dismal run with win over Sri Lanka
BRISBANE, November 7, 2010 (AFP) – Australia avoided an unwanted record as they cruised to a comprehensive eight-wicket win over Sri Lanka in the third and final one-day international at Brisbane’s Gabba ground on Sunday. Staring at a record eighth straight international defeat, the Australians skittled Sri Lanka for 115 off 32 overs and rattled […]
Sri Lanka Hemas Power net up on higher hydro, thermal generation
Nov 08, 2010 (LBO) – Higher electricity generation from both thermal and hydro power plants helped Sri Lanka’s Hemas Power make a net profit of 124 million rupees in the September 2010 quarter, a stock exchange filing said. The company had made a loss of 3. 5 million rupees in the same period a year […]
Sri Lanka builds more mini-hydro, wind power plants
Nov 07, 2010 (LBO) – Sri Lanka is building more mini-hydro and wind power plants but needs more technology transfer to ensure better use of renewable energy, officials said. Energy produced from wind and solar plants varies depending on the availability of wind and sunlight and hence cannot be used as base load power. “There […]
Marketing Bond
Nov 06, 2010 (LBO) – Cargills (Ceylon), which runs Sri Lanka’s biggest supermarket chain, has begun selling products of farmers in the former war zone in the northern Jaffna peninsula, officials said. The bank has given 105 million rupees in loans among over 3,000 micro-entrepreneurs, farmers and fishermen to restart their income generating activities in […]
Oil Plan
NEW DELHI, Nov 5 (Asia Pulse) – State-owned Indian Oil Corp is eyeing a contract to revamp and expand the sole refinery in Sri Lanka. IOC’s interest in upgrading and doubling capacity of Ceylon Petroleum Corp’s (CPC) Sapugaskanda Refinery to 4 million tonnes a year came up at a meeting between Indian Oil Minister Murli […]
Aussies hapless, woeful against Sri Lanka: press
SYDNEY, November 6, 2010 (AFP) – Australian newspapers Saturday accused Ricky Ponting’s men of embarrassing, hapless and woeful play against Sri Lanka after the visitors scored their first-ever series success Down Under. Just weeks out from the start of the keenly-awaited Ashes series against England and without a win in any format since July, the […]