Category: Industry
Sri Lanka gem show lures Chinese, Russians
Sept 03, 2010 (LBO) – An international gem and jewellery exhibition in Sri Lanka has drawn large groups of buyers from China and Russia which are emerging as important markets, officials said. “The stones have become more attractive and better cut.” Chanaka Ellawala, head of the 20th Facets gem and jewellery show organising committee, said […]
Sri Lanka India coal plant, no firm date yet: minister
Sept 03, 2010 (LBO) – A starting date for a joint venture India Sri Lanka coal power station has still not been set, but it will be last coal plant that the government will approve, Sri Lanka’s energy minister Patali Ranawaka said. “It is in the feasibility study stage,” he said. Minister Ranawaka said there […]
Sri Lanka LOLC in dendro, hydro power plants
Sept 03, 2010 (LBO) – Sri Lanka’s LOLC group has bought into a wood fired or dendro power plant which is expected to be commissioned and connected to the national power grid in late 2011 and was also investing in 14 mini-hydro plants. LOLC said it had acquired a 75 percent state in United Dendro […]
SriLankan Airlines to resume floatplane service, expand fleet
Sept 03, 2010 (LBO) – SriLankan Airlines, Sri Lanka’s state-run national said it will acquire two floatplanes to re-start domestic air services later this year and also buy five short haul Airbus A320 aircraft next year as it looked to fly new routes. SriLankan said it will acquire two De Havilland Canada Twin Otter floatplanes […]
Box Move
Sept 03, 2010 (LBO) – The Sri Lanka Ports Authority (SLPA) is building a new yard for storing containers next to its main transhipment facility in Colombo port to ease congestion caused by increasing cargo flows, an official said. SLPA chairman Priyath Wickrama said the yard, next to the Jaya Container Terminal, will also have […]
Sri Lanka LOLC cuts grid use with solar power
Sept 02, 2010 (LBO) – Sri Lanka’s LOLC financial group commissioned a 48 kiloWatt solar power array that will supply 15 percent of energy needs at its head office in Colombo, reducing its ‘carbon footprint’, officials said. The LOLC head office uses about 50,000 units (kilowatt hours) of energy a month. The firm already had […]
Sri Lanka Janashakthi Insurance hit by flood claims
Sept 02, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance said net profit in the six months to June 2010 fell 45 percent to 145 million rupees from a year ago mainly because of a flood of claims for damage caused by recent floods. The company has an asset base of over 11 billion rupees with […]
Sri Lankan Airlines cuts losses
Sept 02, 2010 (LBO) – SriLankan Airlines, Sri Lanka’s state-run national carrier said it lost 6. 06 billion rupees in the year to March 2010, down from a 9.99 billion loss notched up an year earlier. The airline said it had cut cost and improved revenue under turnaround plan and losses in the second half […]
Sri Lanka Renuka Holdings mulls hotels ventures
Sept 02, 2010 (LBO) – Sri Lanka’s Renuka Holdings is considering developing property is owns in the north and east as tourist resorts and is in talks with potential partners, an official said. Turnover for the period grew to 1. 5 billion rupees from a restated 136 million rupees the previous year, before the acquisition […]
Island Deal
Sept 02, 2010 (LBO) – Sri Lanka’s Acuity and Millennium Capital Management (MCM) Holdings of Maldives is partnering to provide investment banking services in the archipelago with deals worth 55 million US dollars in the pipeline, officials said. Acuity, a unit of Sri Lanka’s listed DFCC Bank and Hatton National Bank is working with MCM […]
Port Matters
Sept 02, 2010 (LBO) – A Sri Lankan conglomerate, part of the consortium selected to build a new container terminal in Colombo port, warned against surcharges by shipping lines and also creating excess capacity ahead of demand. “I recommend we should not try to create additional capacity – then there can be a price war,” […]
Expanding Gas
Sept 01, 2010 (LBO) – Sri Lankan liquid petroleum gas (LPG) supplier Laugfs Gas is to expand with plans for regional storage facilities in the north and south, an official said. Laugfs has said recently that it is also keen on buying the local assets of its competitor Shell Gas Lanka which wants to sell […]