Category: Industry
Keel Laying
Nov 07, 2009 (LBO) – Sri Lankan shipyard Colombo Dockyard said it has laid the keel for construction of the fourth Multipurpose Platform Supply Vessel for Greatship India.The vessel is meant to support the offshore oil and gas industry, the yard said in a statement. The occasion was attended by the owner’s representatives, officials from […]
South Asian trade portal seen boosting regional trade
Nov 07, 2009 (LBO) – A trade portal launched for the south Asian region should improve trade within the region and especially help small businesses, the Ceylon Chamber of Commerce said in a statement. The portal www.saarctrade.info – gives importers, exporters and small and medium-sized enterprises (SMEs) of the South Asian region access to important […]
Broad Band
CHENNAI, Nov 06, 2009 (LBO) – Despite improving quality, Sri Lankan fixed and mobile broadband internet users receive less bandwidth than ‘advertised’, while web hosting costs are also higher than developed countries, a telecom study has revealed. “It’s very clear that broadband speeds advertised by providers were more than what they could offer,” Chanuka Wattegama, […]
Consumer Sales
Nov 06, 2009 (LBO) – Cargills (Ceylon) group which runs Sri Lanka’s largest retail chain said profits rose 35 percent to 139 million rupees in the September 2009 quarter from a year earlier, and was planning a billion rupees in new investments in the current year. Last year, the firm had a 73 million rupee-one […]
Awaiting Arrest
JEDDAH, November 6, 2009 (AFP) – Larita Delacruz sits on the concrete base of a bridge pylon, rubs her swollen belly and explains her predicament: she is five months pregnant with twins, and wants to go home to give birth. But after four years of working as a maid in Saudi Arabia, she lacks both […]
Maldives to build wind power plant to become carbon neutral
Nov 05, 2009 (LBO) – The state power utility of the Indian Ocean atoll state of Maldives has signed a 20-year deal with Falcon Energy, a private firm to build and operate a 75MegaWatt wind farm as part of a plan to become a carbon neutral nation. The wind farm built a cost of 200 […]
Sri Lankan general returns without war crimes grilling
November 5, 2009 (AFP) – Sri Lanka’s top military officer returned home Thursday after he was allowed to complete a US visit without being questioned over alleged war crimes against Tamil civilians.General Sarath Fonseka arrived at Bandaranaike International Airport and was immediately driven away under tight security, an airport official said. “He arrived this morning […]
Sri Lanka John Keells agents for Air Mauritius
Nov 05, 2009 (LBO) – Mack Air (Pvt) Ltd, a unit of listed John Keells Holdings (JKH) said had been appointed the general sales agent for Air Mauritius in Sri Lanka from November 01. Romesh David who heads the transportation division of JKH said it will work with the airline to develop traffic between the […]
Profit Margins
Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government. Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent. Revenues rose 10.5 […]
Navigation Move
Nov 05, 2009 (LBO) – Colombo port has re-opened its northern entrance channel which had been closed for years owing to the threat of attacks by Tamil Tiger separatists who were defeated by government forces in May. But it had been completely closed since the airport attack. The Tamil separatists’ naval wing, the Sea Tigers, […]
Fed Printing
NEW YORK, November 3, 2009 (AFP) – Oil prices leapt Tuesday as commodities gained a boost from gold, which struck an all-time high above 1,000 dollars an ounce as markets fret about the prospects of global recovery from recession.New York’s main contract, light sweet crude for delivery in December, rose 1.47 dollars to close at […]
Sri Lanka HNB Assurance Sept profit down 09-pct
Nov 04, 2009 (LBO) – Sri Lanka’s HNB Assurance said net profit for the September quarter fell nine percent to 21.4 million rupees from a year ago, despite a sharp rise in investment income. Gross written premium rose 24 percent to 640 million rupees according to interim results announced by the firm to the Colombo […]