Category: Industry
Sri Lanka Aitken Spence proposes city hotel on state land: minister
Oct 25, 2010 (LBO) – Sri Lanka’s listed Aitken Spence group has proposed to build a luxury city hotel on excess land owned by a state-run firm in the island’s capital Colombo, fisheries minister Rajitha Senaratna said. The land belongs to Ceynor Foundation, a state-run boat builder. The firm has offices in Colombo’s D R […]
Sound Profile
Oct 25, 2010 (LBO) – Fitch Ratings Lanka has confirmed the national long-term rating of Sri Lanka’s Hatton National Bank (HNB) at ‘AA-(lka)’ and its subordinated debentures at ‘A+(lka)’ with a stable outlook, a statement said. “The ratings reflect HNB’s sound financial profile supported by good profitability, asset quality and capitalisation among local commercial banks,” […]
‘s T20 with Sri Lanka
SYDNEY, October 25, 2010 (AFP) – Paceman Peter Siddle and wicketkeeper Brad Haddin have returned to Australia’s squad for next weekend’s Twenty20 match with Sri Lanka in Perth after injury, selectors said Monday. Siddle is available for Sunday’s game after a lengthy rehabilitation from a back injury, while Haddin has returned to full fitness following […]
‘s gold
October 25, 2010 (AFP) – Sri Lankan sports chiefs on Monday confiscated the gold medal won by boxer Manju Wanniarachchi at this month’s Commonwealth Games and gave him two weeks to answer doping charges. Wanniarachchi, 30, Sri Lanka’s only gold winner at the Games, tested positive for the performance-enhancing steroid nandrolone, according to a report […]
Sri Lanka coal plant test on schedule despite fire: minister
Oct 25, 2010 LBO) – A planned testing of Sri lanka’s first coal-fired power plant will go ahead as scheduled on November 17, despite a fire which broke out over the weekend, power minister Champika Ranawaka said. Potential fire damage to Norochcholai plant on the west coast is still being assessed by the government analyst, […]
‘s lone gold medallist fails dope test: report
October 24, 2010 (AFP) – Sri Lanka’s only gold medallist at this month’s Commonwealth Games, boxer Manju Wanniarachchi, has tested positive for a banned steroid, a report said Sunday. The privately run Lakbima News newspaper said Wanniarachchi, 30, who had brought home the island’s first Commonwealth boxing gold in 72 years, had tested positive for […]
Sri Lanka power utility fights fire at Chinese built coal plant
Oct 24, 2010 (LBO) – A fire has broken out at Sri Lanka’s first coal burning power plant in Sri Lanka Western coastal town of Norochcholai which was scheduled to start test operations next month, but it is being brought under control, a top official said. Chairman of state-run Ceylon Electricity Board, Vidya Amarapala said […]
‘s one-day win
BRISBANE, October 22, 2010 (AFP) – Skipper Kumar Sangakkara hammered 110 off 95 balls as Sri Lanka blazed to a score of 301 on their way to a 112-run win over Queensland in their opening Australian tour match on Friday. The Sri Lankans, building up to their three-match one-day international series with Australia next month, […]
Sri Lanka coconut prices hit new highs amid trade protection
Oct 23, 2010 (LBO) – Sri Lanka’s fresh coconut prices hit a new high at this week’s auction in Colombo, compounded by state interventions that restrict trade and keep prices of substitutes at higher than global levels. At Thursday’s auction of fresh coconuts in Colombo – which is a proxy for farm gate prices – […]
Port Prospects
Oct 22, 2010 (LBO) – A new port being built in Sri Lanka’s southern Hambantota has drawn investment proposals from local and foreign businesses including the local Senok Combine and Micro Car for vehicle assembly, officials said. The second phase will expand and deepen the harbour, adding more berths and cranes to handle containers. Madras […]
Gas Prospects
Oct 21, 2010 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is raising 2.5 billion rupees to settle debt, expand facilities and also enter property development as the country recovers from a war, its promoters said. Market Growth Laugfs has a 28 percent share of the total LPG market which it aims to […]
Sri Lankan exporters said not making use of free trade deals
Oct 20, 2010 (LBO) – Sri Lankan exporters are still not making enough use of free trade deals giving duty free or preferential access to big markets, a senior trade official said. “It appears some exporters and importers are paying a few million dollars in duty for which they are entitled to duty free access. […]