Category: Industry
Sri Lanka Vidullanka buys into mini-hydro power firm
May 13, 2010 (LBO) – Sri Lankan private power producer Vidullanka plans to invest 42 million rupees for a stake in another hydropower firm that is to build a mini-hydro plant in the island’s south, a stock exchange filing said. Vidullanka will get a 26 percent stake in Nilwala Vidulibala Company for the investment. Nilwala […]
Sri Lanka gets Japan funds for power in war-torn north
May 13, 2010 (LBO) – Sri Lanka will re-build a 1. 2 MegaWatt power station in the former separatist stronghold of Kilinochchi in northern Sri Lanka with loan of 3. 0 billion rupees from Japan, a government minister said. Sri Lanka’s state-run national grid operator, Ceylon Electricity Board, supplies power to the Jaffna peninsular, north […]
”: Emirates chief
May 13, 2010 (LBO) – Emirates airlines will sell its stake in Sri Lanka’s national carrier SriLankan if the price was right, a media report quoting chairman Sheikh Ahmed Bin Saeed Al-Maktoum said. Emirates Airlines owns a 43.5 percent stake acquired during the time it ran the airline on a 10-year deal, which it exited […]
Lower Return
May 13, 2010 (LBO) – Sri Lanka’s Hatton National Bank (HNB) group profit fell nine percent to 650 million rupees in the March 2010 quarter from a year ago as it reduced lending slightly, a stock exchange filing said. Total income fell 11 percent to 8.99 billion rupees, the bank’s accounts showed. Interest income fell […]
Loan Growth
Mar 13, 2010 (LBO) – Sri Lanka’s Nations Trust Bank group said profits were up 19 percent to 214 million rupees in the March 2010 quarter from a year earlier and loans have also started to grow amid lower interest rates. “The bank is financially strong with its funding and capital position in excellent shape. […]
Sri Lanka qualifies by knocking out India
GROS ISLET, May 12, 2010 (AFP) – Sri Lanka qualified for the World Twenty20 semi-finals after their five-wicket last ball win over India and Australia’s six-wicket victory against the West Indies combined to send them into the last four here on Tuesday. Chamara Kapugedera’s six off the final ball saw Sri Lanka to a dramatic […]
Sri Lanka to host power, renewable energy expo in June
May 12, 2010 (LBO) – Sri Lanka will play host to more than 50 firms in power generation, transmission, and renewable energy at an exhibition in June targeted at foreign and local business visitors, organizers said. Sarwar says the exhibitions also industries using power. Foreign visitors are also billed to attend the exhibitions. The ’02nd […]
Niche Market
May 12, 2010 (LBO) – An Indian business process outsourcing firm that is setting up a unit to start off-site engineering services says Sri Lanka’s evolving tertiary education system is providing it with a talent pool and costs are manageable. India’s MphasiS is planning to invest 3.5 million dollars in a Sri Lankan operation and […]
Chinese Lift
May 12, 2010 (LBO) – The Sri Lanka Ports Authority (SLPA) has signed an agreement with a Chinese supplier to buy cranes worth 7,200 million rupees urgently needed for its Colombo port container terminals, a statement said. The statement quoted Wickrama as saying the arrival of the new machinery at JCT will boost the efficiency […]
Released
BRUSSELS, May 11, 2010 (AFP) – Pirates released a Bermudan-flagged cargo ship and its mainly Sri Lankan crew on Tuesday after a ransom was paid, the EU naval force said two months after the vessel was seized off the Oman coast. The ransom drop was made on Saturday but the pirates remained on board the […]
Port Rivalry
May 12, 2010 (LBO) – A new harbour in southern India built by DP World to open in August plans to lure ships away from Sri Lanka’s Colombo port, the present south Asian container transshipment hub, an official said. The new deep-water terminal in Kochi, south India, will be able to handle the 13,000-container capacity […]
Loan Growth
May 11, 2010 (LBO ) – Sri Lanka’s PABC Bank’s net profit for the March 2010 quarter fell 27 percent to 67.5 million rupees from a year earlier, on weaker fee income despite maintaining margins and loan growth while rates fell, interim accounts showed. PABC’s gross assets grew to 22.1 billion rupees from 21.5 billion […]