Category: Industry
Piracy
NAIROBI, December 13, 2008 (AFP) – Somali pirates have released a Greek chemical tanker seized in October but three crew members are feared dead, a Kenyan maritime official said Saturday. Somali pirates are still holding at least 14 foreign vessels and more than 300 crew members to ransom, including an arms-laden Ukrainian cargo and a […]
Governance Issue
Dec 13, 2008 (LBO) – The Sri Lanka divisional council of the Chartered Institute of Management Accountants (CIMA) has been suspended over a governance failure, its parent body in the United Kingdom said. CIMA said its operations and services to members in Sri Lanka would continue as usual and it would take action to build […]
Golden Years
Dec 13, 2008 (LBO) – With recessionary fears looming the need to secure one’s financial future has become even more important, though recent double digit inflation is eating almost all the disposable income of most average Sri Lankan, says a top analyst. You will have to go about setting a plan to achieve that objective. […]
‘s Mendis ruled out of Bangladesh Tests
December 11, 2008 (AFP) – Sri Lanka’s spin sensation Ajantha Mendis will miss the upcoming two-Test series in Bangladesh due to an ankle injury, the country’s cricket board said on Thursday.Mendis will be replaced by left-arm spinner Rangana Herath for the Test series starting on December 26, Sri Lanka Cricket (SLC) said. He suffered the […]
Sri Lanka October exports up 6-pct
Dec 11, 2008 (LBO) – Sri Lanka’s export earnings in October grew 5.9 percent to 661.2 million US dollars from a year ago led by agriculture and apparel, recovering from a fall in September, the Central Bank said.Growth in imports slipped below 20 percent in October for the first time in 2008 after several months […]
Sri Lanka listed for GSP+ extension subject to probe outcome
Dec 11, 2008 (LBO) – The European Commission has listed Sri Lanka among countries to which it is extending from next year the GSP Plus duty free trade deal but subject to the eventual outcome of an eligibility probe. Trade experts said the listing, which had earlier been expected only by December 15, means Sri […]
Emirates to use polar route in fuel saving flight
Dec 11, 2008 (LBO) – Emirates Airline plans to launch a non-stop direct flight from Dubai to San Francisco in the United States using a polar route to test ways to save fuel and reduce harmful carbon emissions.Emirates said in a statement it worked closely with government agencies in Dubai, Russia, Iceland, Canada and the […]
Sri Lanka in ADB-funded regional tourism effort
Dec 11, 2008 (LBO) – Sri Lanka is among five countries included in an Asian Development Bank (ADB) funded plan to promote south Asian regional tourism and simplify cross-border tourist movements.“Together with the investment project, the technical assistance will enhance the positioning of the sub-region in both intraregional and international markets as one of the […]
Formula Politics
Dec 10, 2008 (LBO) – Sri Lanka’s President Mahinda Rajapaksa rejected a price-formula for fuel amidst growing public displeasure at exorbitant pump prices set by government for both petrol and diesel. Opposition activists had already gone to court asking for relief on petrol over-pricing in particular. Official data shows that the wholesale price of refined […]
Export Formula
Dec 09, 2008 (LBO) – Sri Lankan industrial exporters say the lack of a transparent price formula especially for diesel has increased their production cost against foreign competitors, especially at a time when the rupee is also overvalued. In Sri Lanka petroleum pricing has become heavily politicized since 2004, after the Janatha Vimukthi Peramuna, a […]
Sri Lanka hydro power firm to fast-track Uganda project: report
Dec 10, 2008 (LBO) – A Sri Lankan hydro-power firm which has developed a string of private plants in the island, has been engaged to speed up a stalled hydro-electric project in Uganda, a media report said. D’Ujanga said the new firms were expected to speed up the project despite being involved in a larger […]
Sri Lanka clothing exporter goes east with US aid
Dec 10, 2008 (LBO) – Brandix Lanka, a top Sri Lankan clothing exporter, has got US aid to train workers in a new factory it has set up in the island’s east which the government is trying to develop after driving out Tamil Tiger rebels.The US Agency for International Development and Brandix Lanka are working […]