Category: Industry
Bunker Move
Sept 14, 2008 (LBO) – Lanka Marine Services (LMS), a unit of John Keells Holdings selling bunkers in Colombo port, has moved out most of its stocks from a tank farm by the court ordered deadline of September 12, a media report said.The Sunday Times quoting sources at Sri Lanka’s revenue office said, it had […]
Sri Lanka power utility to start net metering
Sept 11, 2008 (LBO) – Sri Lanka’s power distributors are to start net metering, where customers would be able to generate small amounts of renewable energy, ‘export’ to the national grid, and only pay for the ‘net’ amount of electricity used.A note to cabinet said the proposal would encourage customers to generate their own electricity […]
Cyber Education
Sept 12, 2008 (LBO) – Sri Lanka is starting post-graduate university courses using broadband mobile links provided by Mobitel, a celco, to remotely lecture students, officials said.The mobile learning of ‘mlearning’ system was developed by the University of Colombo, Mobitel and the IT firm Microsoft. “This is a hybrid system of learning, which includes traditional […]
Bank Rating
Sept 11, 2008 (LBO) – Sri Lanka’s Fitch Ratings has confirmed the ‘AA(lka)’ rating of state-run Bank of Ceylon, with ‘stable’ outlook, and said its exposure to the government had fallen, though it remained high.Fitch said the bank’s ‘Individual’ rating at ‘D/E’ and ‘Support’ rating at ‘4’, reflected its systemic importance as the largest bank […]
Exploration Spend
Sep 11, 2008 (LBO) – Cairn India said its Sri Lanka unit had signed a deal with Sri Lanka’s investment promotion office to cover a 110 million US dollar oil exploration program. The company was given an off-shore exploration block in the north western Mannar Basin of the island. “The Mannar basin is a frontier […]
‘s Mendis named ICC emerging player of the year
DUBAI, September 10, 2008 (AFP) – Sri Lanka’s new spin sensation Ajantha Mendis was named as the International Cricket Council (ICC) emerging player of the year at an awards ceremony here Wednesday.Players eligible for this award must be under 26 years of age at the start of the voting period (August 9 2007) and have […]
Sri Lanka state budget airline asks for more cash
Sept 11, 2008 (LBO) – Sri Lanka’s troubled state-run budget carrier Mihin Air is to ask for another three billion rupees in peoples’ money in the next budget to revive operations, an official said.The airline is now without aircraft after having lost its start-up capital and also money borrowed from state-run Bank of Ceylon, and […]
Foreign Unit
Sept 11, 2008 (LBO) – Sri Lanka’s Commercial Bank said the long term credit rating of its Bangladesh unit had been upgraded by one notch to AA+ from AA, by Credit Rating Information and Services Ltd (CRISIL). CRISIL had given it a ST-1 short term rating. Commercial Bank of Ceylon had bought Credit Agricole lndosuez […]
Bunker Supply
Sept 11, 2008 (LBO) – Ship fuel prices at Colombo port could fall by around five percent after a tank farm previously operated by one player is converted to a common storage facility, a supplier has said.Lanka Marine Services (LMS), a unit of John Keells Holdings was ordered to return a tank farm and land […]
Sri Lankan Airlines on new direction to trim fuel
Sept 10, 2008 (LBO) – Sri Lankan Airlines says it is cutting fuel use by making clean landing approaches at its home base in Colombo and through a series of efficiency measures devised in house and with international advice. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Bunker Business
Sept 10, 2008 (LBO) – Sri Lanka’s John Keells group said its bunkering unit Lanka Marine Services (LMS) will continue to supply bunkers at Colombo port with a tanker and would also use the proposed common user facility to continue in business. “LMS will also continue to provide bonded storage and delivery services of marine […]
‘s Jayawardene among top nominees for ICC awards
NEW DELHI, September 8, 2008 (AFP) – West Indian Shivnarine Chanderpaul, Sri Lanka captain Mahela Jayawardene and South African Dale Steyn are set to dominate the fifth ICC awards night on Wednesday. The three were nominated for both the cricketer of the year and the Test player of the year awards that will be announced […]