Category: Industry
Lease Rating
July 05, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed the Commercial Leasing Company (CLC) national rating at ‘A-(lka)’, with a stable outlook. Ficth said in a statement CLC’s rating reflects its fairly strong financial profile, good asset quality and implied support assumed to be available from its parent, Lanka ORIX Leasing Company […]
Keel Laying
July 05, 2009 (LBO) – Sri Lankan shipyard Colombo Dockyard said it has laid the keel for construction of the third Multipurpose Platform Supply Vessel for Greatship India.The vessels can undertake multi-purpose roles such as transportation of pipes, fresh water, diesel oil, bulk cement, stores, equipment, moving men and materials between platforms and shore, and […]
Oil Drain
July 4, 2009 (LBO) – The Sri Lanka unit of the Indian Oil Corporation is running out of cash and may not be able to import the next consignment of oil as crude prices rise and taxes bite into revenue, an official said. Based on yesterday’s Singapore wholesale refined product prices released by the Central […]
‘s young brigade rattles Sri Lanka
GALLE, July 4, 2009 (AFP) – Teenage fast bowler Mohammad Aamer led Pakistan’s spirited new-look attack to bowl out Sri Lanka for 292 on the opening day of the first cricket Test here on Saturday. Rauf had Paranavitana caught by Misbah-ul Haq at first slip midway through the post-lunch session, before Younus dismissed Samaraweera through […]
Public Service
July 4, 2009 (LBO) – W A Wijewardena, widely regarded as one of the top economists the country has ever produced, retired from his post as deputy governor of Sri Lanka’s central bank Friday, after a 36 year career in public service. He has also chaired other task forces including one on the adoption of […]
Injured Murali out of Pakistan Test
GALLE, July 3, 2009 (AFP) – Muttiah Muralitharan was on Friday ruled out of the first Test against Pakistan with a knee injury, dealing a huge blow to Sri Lanka’s bid to win the emotionally-charged series.The spin wizard hurt his patella tendon during training on Thursday and will sit out of the opening game of […]
Passion restored, Pakistan relish Sri Lanka tour
KARACHI, July 2, 2009 (AFP) – Pakistan start their Test series against Sri Lanka Saturday riding the wave of a feel-good factor after winning the World Twenty20 and giving their country a much-needed respite from bombs and battles.When Pakistan won the championship in England last month, the victory renewed the country’s passion for the game, […]
Britain revises Sri Lanka travel warning
July 3, 2009 (LBO) – Britain has eased a travel advisory to Sri Lanka’s east but has warned of rising ant-British rhetoric amid an upsurge of nationalism and possible detentions of people of ethnic Tamil origin.“This has led to violent protests against the British High Commission and other diplomatic premises.” Though Tamil Tigers have been […]
Infrastructure Finance
July 03, 2009 (LBO) – HSBC’s Sri Lanka unit is looking to finance a private container port to be built as part of an expansion of Colombo port, and post-war reconstruction projects in the island, a top official said. “We are looking to support investors bidding for the Colombo port expansion,” Nick Nicolaou, head of […]
Tele Sale
July 2, 2009 (LBO) – Millicom International Cellular, the parent of Sri Lanka’s Tigo mobile network, said several buyers have expressed interest in taking over its Asian operations.Millicom has operations in Sri Lanka, Cambodia and Laos.By the end of the March quarter the firm said it had 4.5 million subscribers in Asia, generating a profit […]
Half Speed
July 02, 2009 (LBO) – Raman Roy, chairman of India’s Quatrro BPO Solutions, said their Sri Lanka business process outsourcing unit, a tie-up with John Keells Holdings, is not doing as well as anticipated.Revenues had fallen as the US recession took its toll on the auto and restaurant businesses which comprised the bulk of its […]
Bunker Vessel
July 02, 2009 (LBO) – Lanka Maritime Services, a Sri Lankan supplier of ship fuel, said it has acquired an 8,800 DWT double-hull tanker to supply bunkers to ships calling at Colombo port.“This was to avoid loss of foreign exchange by way of payment of demurrage on chartered vessels and also reduce expenses in order […]