Category: Industry
Sri Lanka to reduce its carbon foot print in energy production by switching to gas
June 11, 2015 (LBO) – Power and Energy Minister says Sri Lanka will stop using fuel based power plants and convert to natural gas in future to reduce the Island’s carbon foot print.“We have recently retired; high pollution and high cost fuel based power stations totaling 220MW,” “And are in the process of switching another 655 […]
Iranian merchant ship not carrying crude oil to Sri Lanka: Ministry of Foreign Affairs
June 10, 2015 (LBO) – Sri Lanka’s Ministry of Foreign Affairs said that the country will not unload any cargo of the Iranian merchant ship, F Whale and it is not carrying crude oil shipment to state-run Ceylon Petroleum Corporation. “We have information that the vessel of the name of F Whale under the Panama […]
Sri Lanka to invest Rs30mn per electorate on rural road building and rehabilitation
June 09, 2015 (LBO) – Sri Lanka’s Ministry of Highways and Investment Promotion said that it has launched an island-wide rehabilitation project for the rural road network.Under this new program every electorate has been allocated 30 million rupees to build the necessary roads and repair those that require it.The ministry says the aim behind this […]
Sri Lanka to call international bids for gas exploration in October: Minister
Jun 09, 2015 (LBO) – Power and Energy Minister says a fresh round of international tenders will be called in October 2015 in order to expedite the gas resources exploration process in the Mannar basin.“In October we will call for international tenders to explore the gas deposits in the country,” Power and Energy Minister Champika […]
Mihin Lanka to expand operations to Kolkata
June 09, 2015 (LBO) – Sri Lanka’s budget carrier Mihin Lanka will expand its operations to Kolkata, India with effect from 15 June 2015, Mihin Lanka said in a statement. Kolkata is the capital of the Indian state of West Bengal and is the commercial, cultural and educational centre of East India. The airline introduced […]
Building costs in Sri Lanka higher than other countries in region
Jun 08, 2015 (LBO) – Head of Sri Lanka’s Chamber of Construction Industry says building cost in the Island is higher than in some of the other Countries in the region and lacks a skilled work force.“There are concerns among the investors and developers, that the construction cost in Sri Lanka is higher than in […]
Sri Lanka’s NDB to issue debenture
June 08, 2015 (LBO) – Sri Lanka’s National Development Bank says it will issue 75,000,000 debt with room to offer further.The company said that it will issue 75,000,00 rated , unsecured, subordinated, redeemable debentures with an option to issue up to a further 25,000,000 debentures at the discretion of the bank in the event of […]
Sri Lanka, Pakistan trade drops by USD100mn in 2014
Jun 08, 2015 (LBO) – The newly appointed Pakistani High Commissioner to Sri Lanka, Syed Shakeel Hussain has expressed concerns over the decrease in trade between the two countries by 100 million US dollars, a statement said. “This is a saddening thing, especially in the backdrop of a Free Trade Agreement existing between the two […]
Demand for Sri Lankan tea could remain depressed: Brokers
June 8, 2015 (LBO) – The demand for Sri Lankan tea will remain depress in the future pertaining issues in the important tea export destinations, a leading broking house said. “The demand for tea could remain depressed in the short term due to issues across some of the key export destinations for Sri Lankan tea,” […]
Tourist arrivals in Sri Lanka up 26-pct in May 2015
Jun 06, 2015 (LBO) – Tourist arrivals in Sri Lanka increased 26 percent from a year earlier to 113,529 in May 2015, with growth in seen in the Chinese and Indian arrivals, data from the state tourist promotion agency showed.Chinese tourists were up 71 percent to 12,173 while Indian arrivals were up 38.2 percent to […]
“No fuel shortage in Sri Lanka” Minister
Jun 06, 2015 (LBO) – Sri Lanka’s Power and Energy Minister said that there is no fuel shortage in the Island and that adequate stocks are available. Issuing a statement Minister Champika Ranawaka denied that there is any fuel shortage at the 1,186 pumping stations across the Island. “Supply shortages might hit IOC outlets on […]
John Keells Hotels says social media and online marketing will boost brand presence
June 5, 2015 (LBO) – Sri Lanka’s John Keells Hotels, a leading hotel operator with a portfolio of 11 hotels and 1,336 rooms in Sri Lanka and Maldives says that company’s social media strategy and online marketing strategy will help boost brand presence in the global tourism market. “Our Company remains positive that the newly […]