Category: Industry
Rising Oil
June 18, 2009 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation had asked Sri Lanka’s petroleum ministry permission to raise petrol and diesel pump prices by 21 to 23 rupees a litre to stem losses amid rising oil prices, an official said. IOC managing director Suresh Kumar said his firm had lost […]
South Bunker
June 18, (LBO) – Sri Lanka is getting a 65 million US dollars loan from China’s Exim Bank to build an oil storage facility in the Southern coastal town of Hambantota, a senior government minister said. “The objective of this project is to supply and store marine fuel, aviation fuel and LP gas and provide […]
Sri Lanka bank on spinners for success
NOTTINGHAM, June 17, 2009 (AFP) – Sri Lanka expect the spinners to pick up another rich haul when they take on the West Indies in the World Twenty20 semi-final at the Oval on Friday. The Sri Lankans have bulldozed their way through the tournament with five straight wins, mainly on the back of spin twins […]
Gas Diplomacy
June 16, 2009 (LBO) – The Netherland’s envoy to Sri Lanka has raised concerns about the government pricing of liquefied petroleum gas of top Dutch firm Shell Gas, consumer affairs minister Bandula Gunewardene said. Shell has previously attracted criticism for charging high fees for its terminal complex. The minister said he had promised a meeting […]
Sri Lanka apparel maker in post-war manufacture
June 16, 2009 (LBO) – Brandix, a top Sri Lankan apparel maker, is planning to boost production at a factory built in Batticaloa, a former war-torn area in the east of the island where ex-female Tiger combatants are also working, an official said.“Our current production is 20,000 pieces and we want to push it up […]
State Club
June 16, 2009 (LBO) – The clubhouse of a golf course which was ordered in to state hands by court over corruption charges is operating as a hotel and starting to generate profits, an official said.The Water’s Edge golf course in Colombo was ordered returned to the state and its clubhouse is now run by […]
Constant Vigil
June 16, 2009 (LBO) – Sri Lankan depositors should be more vigilant as hundreds of smaller unregulated financial firms are still in existence despite the collapse of a few high profile firms, officials said. “Those who invested in unregulated companies will not get their money back because there is no money to give. Going to […]
Not Yet
June 16, 2009 (LBO) – Sri Lanka’s central bank which offered a third stake of Seylan Bank to a private investor has not awarded it to the sold bidder by Lanka Orix Leasing Company (LOLC) by the previously set deadline of June 16. Among those who expressed interest was cash rich National Development Bank and […]
India crash, Sri Lanka suffer Irish scare
LONDON, June 14, 2009 (AFP) – Defending champions India crashed out of the World Twenty20 on Sunday while Sri Lanka stayed on course for the semi-finals but only after surviving a scare by Ireland. India lost by three runs to England at a packed Lord’s, a result which left Mahendra Singh Dhoni’s highly-rated team to […]
Circular Delay
June 15, 2009 (LBO) – The Sri Lankan government has decided to call for fresh tenders for the Greater Colombo Urban Transport Development Project as previous bids were too high. The project, meant to ease traffic jams in Colombo, is funded by a 223 million US dollar loan from Japan, the finance ministry said in […]
‘s World Cup hosting rights hang in balance
LONDON, June 14, 2009 (AFP) – World cricket chiefs are working out a middle path to resolve the controversy over Pakistan’s right to remain co-hosts of the 2011 World Cup in the sub-continent. Top officials of the International Cricket Council, including president David Morgan of England, will debate the matter at a meeting here on […]
Desert Tragedy
RIYADH, June 13, 2009 (AFP) – Nineteen men, most of them foreign workers, were incinerated when a Saudi bus caught fire after crashing into a truck during a blinding sandstorm, a transport official said on Saturday. No one escaped from the burning bus when it hit a slow-moving truck entering the road from the shoulder […]