Category: Industry
Emirates to launch direct flights to Tokyo
Nov 24, 2009 (LBO) – Emirates, the Dubai-based airline, said it plans to launch direct non-stop services to Tokyo from March 28 next year to lure travellers across the Middle East instead of the Pacific. The move closely follows the recent launch of operations to Durban and Luanda, the airline said in a statement. At […]
Transport Trends
Nov 24, 2009 (LBO) – Vehicle imports to Sri Lanka in August 2009, measured by the total number of new registration of motor vehicles, fell 22.2 percent to 16,293 from a year ago, latest official data showed. The government lifted restrictions imposed towards the end of 2008 on import letters of credit for vehicles, amid […]
Ship Fuel
Nov 24, 2009 (LBO) – A price war among Sri Lankan bunker suppliers in Colombo port is intensifying with some firms saying prices have fallen below cost to loss-making levels.Sri Lankan bunker suppliers said prices have come down sharply since the market was opened up and more suppliers came in with the price difference between […]
Road Support
Nov 24, 2009 (LBO) – The European Union (EU) said repairs to a key road linking Sri Lanka’s south with the east that was damaged by a tsunami had been completed with EU and Asian Development Bank aid. The 158-kilometer stretch of the southern coastal road linking the southern Matara town with Wellawaya towards the […]
Ship Building
Nov 23, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it was getting ready to deliver a passenger craft built for an Indian customer by year’s end and that its repair business had shifted to focus on specialised vessels from tankers.The yard, which books profits on vessel delivery, said in a statement it was preparing […]
Freight Rates
Nov 23, 2009 (LBO) – Sri Lankan shippers are confronted with an increase in transportation costs to and from their markets with loss-making global carriers raising freight rates or announcing rate hikes from next year to restore profitability.Some lines have also withdrawn vessels and services to and from the region and introduced ‘slow steaming’ in […]
Sri Lanka power generation up in August
Nov 22, 2009 (LBO) – Sri Lanka’s power generation rose 1.3 percent in August 2009 to 845 GigaWatt hours from a year earlier, with hydro power increasing its share, the latest official data showed.Petrol sales, used mostly for private transport was up 7.1 percent to 45,000 metric tonnes.To August petrol sales were up 4.6 percent […]
‘s JKH poised to put more cash into leisure
Nov 22, 2009 (LBO) – Sri Lanka’s John Keells Holdings is ready to invest nearly 6.0 billion rupees over the next two to three years in upgrading and building new hotels if tourism arrivals pick up after the end of a 30-year war as expected, an official said. By 2011 JKH would be ready to […]
India force a draw after Gambhir, Tendulkar tons
AHMEDABAD, November 20, 2009 (AFP) – Gautam Gambhir made 114 and Sachin Tendulkar hit an unbeaten 100 as India batted out the final day to draw the first cricket Test against Sri Lanka here on Friday. India easily wiped out a huge first innings deficit of 334 runs as they scored 412-4 in their second […]
State Banking
Nov 19, 2009 (LBO) – Sri Lanka’s state-run Lankaputhra Development Bank (LDB) has received an ‘A’ rating on state support, Ram Ratings Lanka said but the bank’s bad loans had risen to 38.9 percent by end-August 2009. “Over the longer term, however, this ratio is expected to ease as concentration risk becomes more diluted due […]
India fight to save Test after Sri Lanka blitz
AHMEDABAD, November 19, 2009 (AFP) – India were waging a grim battle to survive the first cricket Test after Sri Lanka went on a record-breaking batting spree on the fourth day here on Thursday.The Indians, trailing by 334 runs on the first innings as Sri Lanka piled on 760-7 declared, moved to 190-2 in their […]
Sri Lanka accelerates coal power with $891mn Chinese loan
Nov 19, 2009 (LBO) – Sri Lanka will build two 300 MegaWatt coal power plants at the same time with Chinese financing and finish a 900MW facility in two phases instead of the originally planned three to cut the country’s high power costs. The 891 million dollar ‘preferential buyer’s credit’ would be repayable in 20 […]