Category: Industry
Sri Lanka to build small solar plant with Japanese aid
Dec 03, 2009 (LBO) – The Japanese government will give Sri Lanka a grant of 860 million yen or just over a billion rupees to build a 400 kiloWatt demonstration solar power plant which will be connected to the national grid.The solar project will be implemented by the Sri Lanka Sustainable Energy Authority under the […]
Ideal Spectrum
Dec 03, 2009 (LBO) – Sri Lankan telecommunications firms will begin unrolling WiMAX networks offering high-speed internet connections at lower cost in January, the island’s telecom regulator, Priyantha Kariyapperuma, said. The networks using the Worldwide Interoperability for Microwave Access (WiMAX) technology will especially benefit rural areas enabling services like telemedicine and e-learning, officials said. Sri […]
Sri Lanka cruise ship calls pick up after war
Dec 03, 2009 (LBO) – Calls by cruise ships to Sri Lanka, which were greatly reduced during the height of the ethnic war, are picking up with the latest operator to launch visits to Sri Lanka being Louis Cruises India.The number of visitors to the island picked up immediately after the war ended in May […]
Sri Lanka tea factory hotel opens under up-market brand
Dec 03, 2009 (LBO) – From abandoned tea factory to luxury resort, Aitken Spence will re-launch its successful tea factory hotel under its up-market brand ˜Heritance.’ Since its launch in 1996, the hotel which is situated on a hilltop overlooking Hethersett village, has gained a reputation for being an unusual holiday attraction. Visitors can experience […]
Sri Lanka rated telco market with highest regulatory risk
Dec 02, 2009 (LBO) – Sri Lanka has been rated the telecommunications market with the highest regulatory risk score in the Asia-Pacific region, according to a new survey by Fitch Ratings.It said Fitch’s Regulatory Risk Score provides an indication of how the regulatory environment impacts the ability of an operator to generate free cash flow […]
Six-star Dilshan leaves India chasing leather
MUMBAI, December 2, 2009 (AFP) – Tillakaratne Dilshan smashed his sixth century this year to give Sri Lanka a solid start in the crucial third and final Test against India here on Wednesday.Dilshan made 109 as Sri Lanka, seeking a win to draw the series 1-1, battled a wicket with turn and bounce to pile […]
Developing countries agree on tariff-cut deal
GENEVA, December 2, 2009 (AFP) – Twenty-two developing and poor countries including emerging giants India and Brazil, on Wednesday agreed on a deal on cutting tariffs on the sidelines of a World Trade Organization meeting. “This is a very important step in south-south cooperation,” said Jorge Taiana, Argentinian Foreign Minister, who chaired the group. Under […]
Tele Risk
Dec 02, 2009 (LBO) – Sri Lanka has been rated the telecommunications market with the highest regulatory risk score in the Asia-Pacific region, according to a new survey by Fitch Ratings. It said Fitch’s Regulatory Risk Score provides an indication of how the regulatory environment impacts the ability of an operator to generate free cash […]
Developing countries urge Doha Round conclusion
GENEVA, November 29, 2009 (AFP) – Over 100 developing countries called Sunday for an “urgent” conclusion of negotiations for a world trade liberalisation pact, a day before a key World Trade Organisation ministerial conference.“The ministers of the G20 called for urgent action on the Doha Round,” according to a statement issued by G20 major developing […]
Sri Lanka high tariffs hurting investors, poor: US envoy
Nov 30, 2009 (LBO) – High import tariffs maintained by Sri Lanka not only deter investors but also hurt the poor, the American envoy to the island has said.High import tariffs and an economically-damaging tax system hurt not only individual companies, but economic growth in general, said US ambassador Patricia Butenis. “If a company here […]
” rating confirmed, outlook negative
Nov 30, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed Hayleys MGT Knitting Mills’ (HMGT) National Long-term rating at ‘BBB+(lka)’ and lowered the outlook to negative from stable. Fitch said in a statement the fabric maker faces possible loss of duty free access to key European markets and expiry of a tax holiday […]
Leasing Upturn
Nov 30, 2009 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm, says demand for new leases is picking up with interest also from former war-torn regions, especially in the East of the country. “We think there is some appetite for credit now and we have witnessed some growth in credit and we are […]