Category: Industry
‘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 […]
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 […]
Sri Lanka Janashakthi rating watch lifted, BBB+ confirmed
Nov 19, 2009 (LBO) – RAM Ratings Lanka said it has lifted the Rating Watch with a negative outlook on Janashakthi Insurance and confirmed its BBB+ rating with a stable outlook. It said in a statement Janashakthi had improved its solvency margins with better investments. “The reaffirmation of the company’s rating is reflective of its […]
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 […]
‘s double ton floors India in first Test
AHMEDABAD, November 18, 2009 (AFP) – Former captain Mahela Jayawardene scored his sixth double-century as Sri Lanka seized control of the first Test against India here on Wednesday.Jayawardene was unbeaten on 204 as the tourists closed the third day at 591-5 in their first innings, a lead of 165 runs over India’s 426 with five […]
Sri Lanka to do tourism master plan
Nov 18, 2009 (LBO) – Sri Lanka is preparing a 10-year tourism master plan covering new infrastructure in former war zones and avoiding the haphazard development that happened in existing resort areas, an official said.S Kalaiselvam, director-general of the Tourism Authority, said a new master plan was needed to ensure planned, sustainable development of tourism […]
Capital Measures
Nov 18, 2009 (LBO) – Sri Lanka’s The Finance Company, which ran out of capital at the end of the September 2009 quarter, said it was cutting deposit rates and has called a meeting of shareholders on December 11.The firm had lost 1.528 billion during the six months to September 2009, had lost its capital […]
Sri Lanka lifted by Dilshan century in India Test
AHMEDABAD, November 17, 2009 (AFP) – Tillakaratne Dilshan smashed his fifth century of the year as Sri Lanka made a spirited reply in the first Test against India here on Tuesday. Dilshan hit 112, his 10th Test hundred, as Sri Lanka cruised to 275-3 by stumps on the second day in reply to India’s first […]
Military Ward
November 17, 2009 (LBO) – A hospital built by India’a Apollo chain that is now under Sri Lankan government control is to offer beds to military personal to become more socially equitable, a senior official said. The Apollo Hospital in Colombo was renamed Lanka Hospitals after it ended its licensing and support services agreement with […]
Sri Lanka tourism offers chance for quick post-war jobs: report
Nov 17, 2009 (LBO) – Post-war Sri Lanka has an opportunity to generate employment quickly by developing tourism to ensure employment for youth especially in conflict-affected areas, a new report said.The study by the US Agency for International Development (USAID) said it was important to initiate efforts that would have a “tangible impact’ on target […]