Category: Industry
Sri Lanka mini-hydro power firm to list
Sept 29, 2010 (LBO) – Hydro Power Free Lanka, a mini-hydro power firm which has a generating capacity of 3.2 MegaWatts is selling 35 million shares to raise 350 million rupees to build more plants, the Colombo Stock Exchange and officials said. The firm operates two 1.6 MegaWatt plant in the Gampola area in Sri […]
Sri Lanka hotel share, warrants issue approved
Sept 29, 2010 (LBO) – Sri Lanka’s stock exchange has approved the issue of new shares and attached warrants by Hotel Reefcomber to raise cash to revamp the hotel, a statement said. Hotel Reefcomber, which owns the Amaya Reef hotel on the southwest coast, plans to consolidate 10 shares to one and then sell a […]
Capital Position
Sept 29, 2010 (LBO) – Fitch Ratings Lanka has confirmed DFCC Bank’s (DFCC) National Long-term rating at ‘AA(lka)’ with a stable outlook, a statement said. The agency has also affirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’. “DFCC’s ratings are driven by its strong capitalisation supported by ongoing high profitability,” the rating […]
Sri Lanka starts nuclear power study, talks with Russia
Sept 28, 2010 (LBO) – Sri Lanka has begun a study to build a nuclear power plant to meet growing electricity demand and is in talks with Russia and other countries to get technology and training, an official said. “We’re considering nuclear power as an option in our long-term generation plan for 2025,” power and […]
Sri Lanka gets more Jet flights
Sept 28, 2010 (LBO) – India’s Jet Airways said it plans to introduce daily flights to the Sri Lankan capital Colombo from Delhi and Mumbai to cater to the rising number of visitors to the island. The two new flights starting from November 5, are in addition to the existing daily Chennal Colombo service, with […]
Clearing Cargo
Sept 28, 2010 (LBO) – The Sri Lanka Ports Authority which runs the island’s ports expects to be able to handle payments by port users online by January next year, an official said. It will eliminate the need for port users to visit the harbour to make payments, he said. Both its internal finance division […]
Credit Quality
Sept 27, 2010 (LBO) – RAM Ratings Lanka has confirmed the long term rating of ˜A’ for Lankaputhra Development Bank (LDB) but lowered its outlook to negative from stable on a rise in bad loans, a statement said. The long- and short-term financial institution ratings, confirmed at A and P1, are largely upheld by the […]
Metro Move
Sept 25, 2010 (LBO) – A rail-based metro system may be an option in part of Sri Lanka’s capital city Colombo when passenger flows rise to levels that make it financially viable, an official said. There must be high density development in the city centre that will justify a rail-based metro system and it must […]
Ahletes set to arrive as things look up for Delhi
NEW DELHI, September 23, 2010 (AFP) – New Delhi’s beleaguered Commonwealth Games was set to welcome its first athletes Friday after receiving a much-needed boost when Team England said they would definitely be participating. The announcement came after the Commonwealth Games Federation signalled Delhi was succeeding in fixing the problems that have brought the event […]
Sri Lanka Taj airport hotel expanding, rebranded
Sept 24, 2010 (LBO) – Sri Lanka’s Taj Airport Garden Hotel, a 130 room hotel will be expanded with 100 more rooms and rebranded under the group’s ‘The Gateway Hotel’ as part of a renewed marketing push, officials said. “The rebranding will take place from January 2010,” general manager Mathew Thomas said. “In two months […]
‘s Taj hotels
Sept 24, 2010 (LBO) – India’s Taj group is looking for opportunities in Sri Lanka’s war-torn eastern coast and a city hotel it controls will also need 30 to 35 million US dollars to be upgraded to fit the group’s new brand portfolio, officials said. India itself sends more tourists to Sri Lanka than any […]
Delhi faces threat of mass exodus from Commonwealth Games
NEW DELHI, September 23, 2010 (AFP) – The chaotic Delhi Commonwealth Games faced dire warnings Thursday of a mass pullout by teams as organisers worked frantically to save the event from disaster with just 10 days to go. Eight countries have written a joint letter to the Indian organisers, demanding a list of conditions covering […]