Category: Industry
‘s Premier League cricket
NEW DELHI, April 18, 2008 (AFP) – Agence France-Presse (AFP) and other top news agencies have said they will not cover cricket’s inaugural Indian Premier League, which starts Friday, due to curbs on the distribution of photographs.IPL officials have prohibited news agencies from supplying photographs to cricket-specific websites for the eight-team, Twenty20 tournament. The London-based […]
Iranian president to inaugurate Sri Lanka hydro-power project
April 19, 2008 (AFP) – Iran’s President Mahmoud Ahmadinejad will travel to Sri Lanka later this month to inaugurate construction of an Iranian-funded hydroelectricity project, the government said on Friday.Iran is paying for the 450-million-dollar Uma Oya power project which is slated to produce 100 megawatts of electricity annually. “The Iranian president will be arriving […]
Broad Service
April 19, 2008 (LBO) – Sri Lanka’s Electroteks, a communications firm, says it will launch a wireless broadband service in May which will have voice telephony services at half the existing tariffs. Electroteks chief B A C Abeywardene says the service will use CDMA (code division multiple access) based technology to provide up to 1Mbps […]
Sri Lanka rice price controls fuels fears of black market
April 18, 2008 (LBO) – Sri Lankan traders Friday said they had agreed to sell rice at the new government controlled price but many wholesale shops remained closed in key markets amid warnings of a shortage and emergence of a ‘black market’. Government officials said they would crack down on ‘unscrupulous’ traders who were trying […]
Sri Lankan rice traders protest price controls
April 17, 2008 (LBO) – Sri Lankan traders have protested against a government decision to impose price controls on rice, saying they cannot sell at a loss stocks bought at higher price. K Palaniyandi, chairman of the Pettah Traders Association, representing traders in the capital Colombo, said they hope to have talks with the government […]
Sri Lanka gets Chinese funds for infrastructure development
April 17, 2008 (LBO) – The Chinese government has already allocated over 700 million dollars to build infrastructure in Sri Lanka with talks on for more money to fund expressways, a port and coal power plants, a government official said Thursday. A government delegation that visited China in April was able to secure more funding […]
Ship Arrest
April 17, 2008 9LBO) Sri Lankan shipping authorities have detained a cargo ship in Colombo port for non-compliance with regulations and submission of false documentation, officials said. “The vessel has been detained after our inspectors found certain deficiencies,” said a port official. The authorities had found faulty machinery on board the vessel and that some […]
Pricing Issue
April 16, 2008 (LBO) – Sri Lanka would raise fuel prices before the end of the month after running losses of 7.2 billion rupees in 2008, petroleum minister A H M Fowzie said. Up to April 15, the state-run Ceylon Petroleum Corporation had lost 1,856 million rupees. In March the utility had lost 3,769 million […]
Persian Present
April 16, 2008 (LBO) – Iranian President Mahmoud Ahmadinejad will flag off a billion dollar oil refinery in Sri Lanka, as part of his state visit to the island later this month, officials said. . Sri Lanka’s petroleum minister A H M Fowzie said President Ahmadinejad would lay the foundation stone for the refinery on […]
Sri Lanka lose one-day series to West Indies
GROS-ISLET, St.Lucia, April 16, 2008 (AFP) – West Indies won the three-match One Day International series with Sri Lanka 2-0 after rain washed out the final match at the Beausejour Stadium here Tuesday. This decider promised much but delivered a no-result when rain forced an abandonment of the third and final ODI under lights. In […]
Offshore Riches
April 15, 2008 (LBO) – Sri Lanka’s Central Bank has called for the setting up of a high-powered decision-making body, possibly headed by the president, to handle oil exploration. A well-structured institutional arrangement should exist for policy formulation, management, regulation, and supervision of oil exploration, development and production, it said in its newly released 2007 […]
Hedging Profits
April 15, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) said it had earned profits of 7 million US dollars in March reducing losses from retailing petroleum below-cost in that month. . “In March we lost 3,769 million rupees retailing fuel, but a hedging contract with Citibank earned us about 580 million rupees,” […]