Category: Industry
Regional Design
Mar 15, 2008 (LBO) – Sri Lankan architects are finding new opportunities designing hotels for India’s booming leisure sector as an intensifying conflict delayed projects at home, a top architect said. “We have not had too many opportunities in Sri Lanka,” says Channa Daswatte, who now spends more time in India than at home. “With […]
Sri Lankan fabric maker to double production
March 14, 2008 (LBO) – Fabric manufacturer Textured Jersey Lanka (TJL) has started operations at its expanded facility in Sri Lanka and says it aims to double capacity in the next two years. Local manufacturers making up the fabric for export include MAS, Brandix, Martins, Hirdaramani and Omega Line. The company, a joint collaboration between […]
Sri Lanka committed to supply power: minister
Mar 14, 2008 (LBO) – Sri Lanka is committed to keep power flowing through the country at market prices rather than rationing electricity to reduce losses and consumption, a senior minister said. . “The government is committed to a policy of supplying electricity even at a high price, because the cost of having power cuts […]
Sri Lanka mini-hydro firm to sell affiliate
March 14, 2008 (LBO) – Sri Lankan mini-hydro power firm Vallibel Power Erathna is selling five million shares of another hydro firm at 37 rupees apiece to an undisclosed firm, the company said. Vallibel Power Erathna runs a 9.9 MegaWatt mini-hydro plant. The company’s shares traded flat at 2.30 rupees on Wednesday. Vallibel Erathne said […]
Channel Change
March 14, 2008 (LBO) – Echannelling, Sri Lanka’s fist listed dotcom said its chief executive, Sidath Chandrasena, would be resigning from June 2008. The firm traded between 16.00 and 16.25 a share Friday. Echannelling is a web-based portal that through which appointments for doctors can be booked for a fee.
Joint Effort
March 14, 2008 (LBO) – South Asian countries should reduce transaction costs and take measures to protect employment-intensive industries to reap more effective gains from a regional free trade deal, a new study has said. The study on the benefits of the South Asia Free Trade Agreement (SAFTA) shows that it will contribute to stronger […]
Nursery Rhyme
March 14, 2008 (LBO) – Country music singers from the UK and Germany will perform at the annual ‘Country Roads’ concert this Sunday, the 16th in a series whose main aim is to raise funds for needy children. The show is supported by airlines and local hotels which give transport and lodging for visiting musicians. […]
Terminal Condition
March 14, 2008 (LBO) – The Asian Development Bank and Sri Lanka are holding talks to modify an agreement to avoid further delays in starting work on a bank-funded breakwater for a new port, a senior ADB official said. “The breakwater contract is time critical in that if it is not awarded soon the project […]
No Hike
March 13, 2008 (LBO) – Sri Lanka’s petroleum utility will not raise retail fuel prices at least until the traditional April Sinhala and Hindu New Year festival, despite record crude oil prices, petroleum minister A H M Fowzie said. The state-owned petroleum utility Ceylon Petroleum Corporation (CPC) will use profits from overcharging hapless petrol uses […]
Sri Lankan graphite miner increases profit with powder exports
March 13, 2008 (LBO) – Sri Lankan graphite miner Bogala Graphite Lanka said its net profit for 2007 was boosted 51 percent to 34.5 million rupees from the year before w by a new plant making high value powders. The plant can produce 29 grades of ‘classified graphite powders’ for export to end-users in the […]
Sri Lanka to raise power tariffs from March 15
Mar 13, 2008 (LBO) — Sri Lanka would raise power tariffs from March 15 by slapping a 30 percent fuel recovery charge on most users and taking away subsidies now given to industries and religious institutions, a senior minister said.“This government is already giving a fertilizer subsidy to farmers and building infrastructure, so we cannot […]
Premium Rules
March 13, 2008 (LBO) – General insurance premiums must be settled within 60 days so that the insured have the ability to claim and for insurers to avoid solvency difficulties, Sri Lankan insurance companies and the regulator said. They said the regulator, the Insurance Board of Sri Lanka (IBSL), has instructed insurance firms to attach […]