Category: Industry
Volatile Pricing
Jan 01, 2009 (LBO) – Shell Gas Lanka, the Sri Lankan unit of the Shell multinational, said a new government tax and its inability to buy locally made liquid petroleum gas is preventing it from further reducing prices.It said in a statement that the government has imposed a special tax of eight rupees per kilogramme […]
Strategic String
Jan 01, 2009 (LBO) – A port being built in southern Sri Lanka near the main shipping route across the Indian Ocean is part of a Chinese effort to project influence and protect vital trade lanes, a US military study said.But the Washington Times also quoted a US Chinese Embassy spokesman Wang Baodong as calling […]
Confidence Building
Dec 31, 2008 (LBO) – There is no danger in dealing with Sri Lanka’s regulated financial sector and authorities have acted swiftly to build confidence in Seylan Bank by bringing it under a state-bank, Central Bank Governor Nivard Cabraal said.The central bank dissolved the board of directors of Seylan Bank and put it under the […]
Equity Deals
Dec 31, 2008 (LBO) – A proposed sale of Sri Lanka’s Seylan Bank shares by the Ceylinco group can go ahead under standard rules governing such deals, Central Bank Governor Nivard Cabraal said. “Under the normal process the sale of shares can take place,” Governor Cabraal said. “Already the trading halt (by the Colombo Stock […]
Shifting Cargo
Dec 31, 2008 (LBO) – Container shipping company American President Line (APL) is to resume calls at Colombo Port’s state-run terminals after an absence of several years, Sri Lanka Ports Authority (SLPA) officials said. APL, a unit of Singapore’s Neptune Orient Lines, originally called at SLPA terminals. But the line shifted to SAGT when it […]
New Call
Dec 30, 2008 (LBO) – Evergreen Line has said it has introduced a new feeder service with Singapore-based Sea Consortium linking Sri Lanka’s Colombo port with ports in India and Pakistan. A statement from the shipping line, operated by Taiwan’s Evergreen Marine Corporation, said the Arabian Express Service (ASX) offers a weekly rotation. The ships […]
Traffic Jam
Dec 30, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) has completed dredging of the northern entrance to Colombo port, senior SLPA officials said. Port users have said such navigation restrictions cause congestion in the harbour, resulting in delays in cargo handling and turning around container ships. The SLPA has tested sonar systems to […]
Sri Lanka dominates Bangladesh in first Test
DHAKA, December 30, 2008 (AFP) – Bangladesh were struggling at 40-1 in their second innings at lunch on the fourth day Tuesday, chasing an unlikely target of 521 runs to win the opening Test against Sri Lanka. Tamim Iqbal was unbeaten on 24 at the break while Imrul Kayes was run out for 13 after […]
‘s Murali puts Bangladesh in trouble
DHAKA, December 30, 2008 (AFP) – Muttiah Muralitharan grabbed two quick wickets to push Sri Lanka closer to a big victory over Bangladesh on the fourth day of the opening Test here on Tuesday.The off-spinner dismissed Junaid Siddique and Raqibul Hasan in his four overs as Bangladesh struggled to reach 150-4 in their second innings […]
New Pilots
Dec 30, 2008 (LBO) – Three new directors has been appointed to Sri Lanka’s Seylan Bank, which was put under the control of a state bank by the monetary board, a media report said. Experienced banker E Narangoda, who was earlier at state-run National Savings Bank had been appointed chairman, The Island newspaper said. Lalith […]
Trade Halt
Dec 30, 2008 (LBO) – Sri Lanka’s Seylan Bank trade halt was removed at 12.45 pm Tuesday following clearance from the Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC). Seylan Bank shares opened trading Tuesday at 19.50 rupees, up 3.75 rupees from the previous close on December 24. Their was no trading on […]
Web Pay
Dec 30, 2008 (LBO) – Sri Lanka’s Commercial Bank said it has extended its ‘Paymaster’ online payment facility to handle Employees’ Trust Fund (ETF) retirement benefit fund payments. The web-enabled Paymaster enables monthly contributions and surcharges and upload of monthly member contribution details for the convenience of employers, the bank said in a statement. This […]