Category: Industry
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 […]
Sri Lanka to build premium tourism zone; offers 14 islands
Sept 09, 2008 (LBO) – Sri Lanka is to offer a new tourism zone for development in Kalpitiya in the country’s north western coast, which has 14 islands in which to build eco-friendly resorts, officials said. Tourism secretary George Michael says the area with 14 islands contains 4,000 acres for development. Galhena said requests for […]
‘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 […]
”’ rating
Sept 09, 2008 (LBO) – Sri Lanka’s Brandix, an apparel maker said one of its eco-friendly factories that made clothes for UK’s Marks & Spencer retail chain, had received a top rating from the US Green Building Council (USGBC). The USGBC, leadership in energy and environmental design ‘platinum’ rating was won by a 130,000 square […]
Full Penetration
Sept 09, 2008 (LBO) – Sri Lanka top celcos firms said they will connect more people by finding ways to lower costs, despite rising inflation and taxes on mobile calls hitting the pockets of poorer sections of society. Anoja Obeysekere, from Sri Lanka’s Dialog Telekom, who is the chairperson of the Asia Pacific GSM Association, […]