Category: Industry
Fuel Failure
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]
Fuel Losses
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]
Sri Lanka mulls geo-thermal energy potential
July 06, 2010 (LBO) – Sri Lanka intends to tap its geo-thermal energy potential and is reviewing its power generation plan to give more emphasis to renewable energy sources, the island’s power minister said. Minister of Power and Energy Patali Champika Ranawaka said government geologists have identified sites with potential to generate geo-thermal energy. “Geo-thermal […]
Sri Lanka, India in talks on power exchange
July 06, 2010 (LBO) – Sri Lanka and India are having talks on exchanging power to help meet demand during peak times, with the island expecting an energy surplus and no more power cuts, an official said. “It’s like a flower opening. When all these infrastructure projects come into operation there will be a quantitative […]
Sri Lanka state bank buys into insurance firm
July 06, 2010 (LBO) – Sri Lanka’s state owned Bank of Ceylon (BOC) and its subsidiary Merchant Bank of Sri Lanka (MBSL) has bought 4.1 percent of Janashakthi Insurance for 225 million rupees. In a privately negotiated off-the-floor deal between BOC and its investment banking unit MBCL, 15 million shares of Janashakthi Insurance changed hands […]
Better Connection
July 06, 2010 (LBO) – Dialog Telekom has inked an Inter-Carrier-Interconnection (ICI) deal with Hong Kong based HKT group which enable users to maintain a network similar to a local area network (LAN) with international branch offices. The network upgrade will allow users to interconnect voice, data and video applications with overseas branch network similar […]
Indian cricket captain Dhoni to marry late Sunday: reports
NEW DELHI, July 4, 2010 (AFP) – Indian cricket captain Mahendra Singh Dhoni, who is worshipped by millions of sports fans across the country, was to marry his girlfriend on Sunday evening, television news channels reported. India’s next games are on tour in Sri Lanka starting July 18. Dhoni, often described as India’s most eligible […]
‘s trade benefits over human rights
BRUSSELS, July 5, 2010 (AFP) – The European Union decided Monday to withdraw trade concessions in August granted to Sri Lanka after the government failed to make a written commitment to improve its human rights record. Government forces have been accused of a host of rights violations including the indiscriminate killing of thousands of Tamil […]
Sri Lanka gets daily Emirates flights to Singapore
July 05, 2010 (LBO) – The Dubai-based Emirates airline has started daily services between Colombo and Singapore from July 01 with the addition of two more frequencies to and from the city state, a statement said. Singapore remains one of the most popular destinations out of Colombo for shopping, leisure and business travel, said Devika […]
Data Host
July 05, 2010 (LBO) – Sri Lanka’s PC House has got approval from the investment promotion agency to set up a subsidiary with an investment of three million dollars to do internet data centre operations, a statement said. The Board of Investment said IDC and information technology outsourcing were seen as businesses with growth potential. […]
Sri Lanka may lose US$500mn in exports with GSP+ end: report
July 04, 2010 (LBO) – Sri Lanka may lose around 500 million US dollars in apparel exports a year, due to the end of trade concessions from the European Union from August, a media report quoting an industry official said. Sri Lanka’s apparel exports to the United States have been declining steadily over the last […]
‘s Howard veto
LONDON, July 2, 2010 (AFP) – Australia great Steve Waugh on Friday blasted the International Cricket Council’s decision to block the bid of former Australia Prime Minister John Howard to become president of the global governing body. For a start, many officials were believed to be unhappy that Howard – who has no track record […]