Category: Industry
Sri Lanka new air cargo terminal to double capacity in Jan
Oct 14, 2009 (LBO) – A new terminal for export air cargo will open at Colombo’s Bandaranaike International Airport in January 2010 which doubling capacity at the airport, state-run SriLankan Airlines said. In July, SriLankan Cargo had commissioned a new SkyChain cargo handling system. The airline carries cargo on passenger aircraft and also has dedicated […]
Sri Lanka September tourist arrivals up
Oct 12, 2009 (LBO) – Tourist arrivals into Sri Lanka in September 2009 rose 28.6 percent to 37,983 from a year ago, with strong growth from key European, East Asian and south Asian markets, the Tourism Authority said.The number of visitors from south Asia shot up by half to 13,072, with Indian arrivals rising 54.3 […]
Sri Lanka power failure worst in history: chairman
Oct 10, 2009 (LBO) – Three consecutive failures of Sri Lanka’s power grid has raised new questions about the reliability of the island’s distribution system, but officials say there will be a probe to examine ways to reduce future blackouts. The immediate cause of the failure seemed to be a cable break in a key […]
Sri Lanka, India coal plant deal to be inked in November
Oct 09, 2009 (LBO) – Ceylon Electricity Board, Sri Lanka’s state-run power utility, will sign a firm deal with India’s National Thermal Power Corporation (NTPC) to build a 500MegaWatt coal plant in November, an official said.The plant is a 50/50 joint venture between CEB and NTPC with each partner putting 75 million US dollars of […]
Sri Lanka suffers nationwide power failure
Oct 09, 2009 (LBO) – Sri Lanka’s faced a nation-wide power outage in the early hours of Friday, and state-run Ceylon Electricity Board is working on restoring supply, officials said.Power is distributed in Sri Lanka by two firms, the CEB and Lanka Electricity Company, which is also state-run.The system was energized twice but it failed […]
Sri Lanka Ceylinco Insurance says Maldives unit pays big dividend
Oct 09, 2009 (LBO) – The Maldives subsidiary of Sri Lanka’s Ceylinco Insurance said it had declared an interim dividend of 70 percent for its share holders for the year 2009.The majority shares of the Maldives subsidiary is owned by Ceylinco Insurance. “Against a backdrop of worldwide recession that has seen companies struggle for survival, […]
On Target
Oct 08, 2009 (LBO) – Sri Lanka’s state-owned National Savings Bank (NSB) had exceeded its 2009 deposit mobilization target of 30 billion rupees by the end of the third quarter, a senior official said. “So far we have achieved 38 billion rupees and we expect it will exceed 40 billion rupees at year’s end,” H […]
Sri Lanka power IPO hits Rs28 on opening day
Oct 08, 2009 (LBO) – Sri Lanka’s Hemas Power hit a high of 28 rupees when it began trading Thursday, but ended at 24 rupees, 20 percent up on its issue price of 20 rupees, brokers and analysts said. The share opened at 26 rupees, a 30 percent gain on its issue price, and traded […]
Sri Lanka state utility to buy 50MW of wind power
Oct 08, 2009 (LBO) – Sri Lanka’s state-run power utility has given the nod for 50 MegaWatts of wind power to be developed by five parties in the north-western Puttalam area of the island, an official said.Sri Lanka’s government has declared a policy of generating 10 percent of the country’s power needs from renewable sources […]
Moving Up
LONDON, October 8, 2009 (AFP) – US and British universities dominate the top of a league table of universities worldwide published Thursday, but Asian seats of learning are moving up the global rankings. Harvard remains in top spot in the Times Higher Education (THE) league table, followed by Britain’s Cambridge University then Yale in third […]
Oil Support
Oct 07, 2009 (LBO) – A call for offshore oil field support services by a company exploring for oil in Sri Lanka provides domestic firms the opportunity they have been waiting for, officials said.Oil explorations firms are expected to source some of their requirements from local industry in order to ensure the benefits of oil […]
Sri Lanka LNG power plant push is outside the law: officials
Oct 07, 2009 (LBO) – Attempts to connect a private liquefied natural gas (LNG) power plant to Sri Lanka’s state-run power utility outside a competitive bidding process is not legal under a new public utility regulatory law, officials said.From this October PUC is issuing licenses to the Ceylon Electricity Board, independent power producers and smaller […]