Category: Industry
Sri Lanka thrashed by Tasmania in one-dayer
HOBART, Australia, Feb 2, 2008 (AFP) – Opener Sanath Jayasuriya was hit in the jaw as Sri Lanka slumped to a disappointing defeat here Saturday in their final warm-up match before the triangular series against India and Australia.The Sri Lankans beat the Prime Minister’s XI comfortably on Wednesday in Canberra, but Tasmania thrashed them by […]
Sri Lanka Cricket says South Africa pull-out helped push it in to red
Feb 2, 2008 (AFP) – South Africa’s decision to quit a triangular one-day series in 2006 caused Sri Lanka’s hard-up cricketing body to lose 11 million dollars, a top official said here Saturday.Ranatunga said SLC was currently surviving on a six-million dollar bank overdraft, but India’s Test and one-day tour of Sri Lanka in July-August […]
Bus Blast
Feb 02, 2008 (LBO) — An explosion at a bus station in north-central Sri Lanka Saturday killed at least 13 people and wounded 20, police said. The Tigers have been blamed for blasting a bus in southern Sri Lanka on the same day that the ceasefire expired. A spate of farmer killings in the southern […]
‘s Assurance
Feb 01, 2008 (LBO) – Janashakthi Insurance has tied up with India’s ICICI Bank to launch bancassurance services in Sri Lanka but says high capital requirements and regulations in India constrain access to the competitive market on the sub-continent. Janashakthi Insurance Company Thursday signed a bancassurance agreement with ICICI Bank to promote insurance to banking […]
Durable Finance
Feb 01, 2008 (LBO) – Fitch Sri Lanka has confirmed the ‘BBB (lka)’ national long-term rating of Singer Finance (Lanka) Limited (SF) with a ‘stable’ outlook. SF was established as a RFC in April 2004, and currently operates through five branches. “The principal factor taken into consideration in SF’s rating is the implied support assumed […]
Paper Issue
Feb 01, 2008 (LBO) – Lanka Orix Leasing Company (LOLC) is planning to raise 500 million rupees from a rated commercial paper, Fitch Sri Lanka said, assigning the issue a short term rating of ‘F1 (lka)’. . “The assigned rating reflects the absence of an adverse shift in the maturities of the company’s interest bearing […]
Refined Product
Feb 01, 2008 (LBO) – Two UAE petroleum firms have won Sri Lankan government approval to build the island’s second refinery with an investment of 1.2 billion dollars, a senior minister said. . Trans Asia Gas International LLC and Star Petro Energy LLC of the UAE plan to build a 100,000 barrels-per-day refinery in the […]
Offshore Wealth
Feb 01, 2008 (LBO) – An oil exploration block nearest to India off Sri Lanka’s northwestern coast has become hot property with three petroleum firms chasing after it, the petroleum ministry said. The southernmost block of the three offered by Sri Lanka in the Mannar Basin, stretching from the coast to the maritime boundary with […]
Sri Lanka cricket runs out of cash, looks for Indian loan: Ranatunga
Feb 1, 2008 (AFP) – Sri Lanka’s new cricket chief and former captain Arjuna Ranatunga has revealed his board has no money left and is banking on financial support from India to stay afloat.Ten Sports’ 50-million dollar deal ends in 2009 and there were allegations that the previous administration had extended it till 2012 without […]
Sri Lanka and India in talks over Weerawila airport
Feb 01, 2008 (LBO) – India’s Cochin airport said a delegation had met Sri Lanka’s president Mahinda Rajapakse and visited a site in the island’s south where it is interested in developing a new airport. Cochin International Airport Limited (CIAL) said it had met aviation minister Chamal Rajapakse who is the president’s brother, central bank […]
Oil Search
Jan 31, 2008 (LBO) – Sri Lanka is evaluating bids for offshore oil exploration in the island’s north-east from firms in Cyprus and India, petroleum minister A H M Fowzie said. The island has put three exploration bids on offer in the Mannar basin area. The bids closed today. ONGC Videsh and Cairn India from […]
Sri Lanka activists demand energy equity
Jan 31, 2008 (LBO) – Sri Lankan villagers are paying a high price for off-grid power while city folk are getting billions in power subsidies from a state power utility, an activist has charged. The activist also criticized a World Bank loan project the only significant fund that has come forward to fund such rural […]