Category: Industry
Bigger One
Jan 18, 2008 (LBO) — Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) refinery expansion may be doubled to a 100,000 barrels-per-day project and its cost may go up to a billion dollars, a top official said.“An Iranian team has already started a feasibility project and now we are looking at a bigger project, which may […]
Developing Ideas
Jan 18, 2008 (LBO) – Sri Lankan community organizations that come up with innovative ways to combat discrimination against HIV/AIDS sufferers would get World Bank support to develop and implement their ideas, an official said. More information on the Development Marketplace The World Bank is looking for “creative, innovative ways of carrying a message”, says […]
Diesel Move
Jan 17, 2007 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation (CPC) has struck a deal with Trafigura, a petro firm in Singapore, to get up to 500 million dollars of supplier’s credit for diesel, a top official said. Trafigura will give CPC 6-months of supplier’s credit at London Interbank Offered Rate plus 1.6 percent, […]
‘s Mihin charts flight path for 2008: interview
Jan 17, 2008 (LBO) – Sri Lanka’s state owned budget carrier Mihin Air is promising better results this year after burning up its capital and clocking up a 1.4 billion rupee loss in the first year of operations. In a wide ranging interview with Shamindra Kulamannage from ETV’s Lanka Business Report (LBR) program Mihin chief […]
Fibre Rail
Jan 17, 2007 (LBO) – Sri Lanka will invite a private operator to build an optical fibre backbone in partnership with the state-owned railway system, a senior minister said. Sri Lanka’s transport ministry which runs the railways department had been given approval to start looking for a telecom operator to lease the country’s 1,200 kilometres […]
Authors flock to Sri Lanka as Galle literary festival opens
Galle, Sri Lanka Jan 17, 2008 (LBO) – Hundreds of international and local authors, dramatists, poets, historians and architects are flocking to a coastal town in southern Sri Lanka, as the ‘Galle International Literary Festival’ takes off. . The festival is being staged in and around a fort in Galle, a southwestern coastal town 116 […]
Terror Funding
Jan 17, 2007 (LBO) – Sri Lanka’s Financial Intelligence Unit (FIU) set up under the Central Bank to combat money laundering and terrorist financing should be more independent, the International Monetary Fund (IMF) has said. Sri Lankan authorities should ensure that the FIU should be given operational independence to ensure freedom from undue influence or […]
New Buildings
Jan 17, 2008 (LBO) – Sri Lanka’s Mercantile Shipping Company Ltd. is acquiring two newly built cargo ships as part of efforts to renew its fleet, company officials said. The company has signed an agreement with the Dutch government for a ship building grant for the two multi-purpose vessels each of 7,800 tonnes deadweight. The […]
Hi Tech
Jan 16, 2008 (LBO) — Sri Lanka’s downstream petroleum sector is moving to SAP enterprise resources planning software, which will be implemented by the Indian Oil Corporation, officials said.The 350 million Sri Lanka rupee project will see Ceylon Petroleum Storage Terminals Ltd (CPSTL), a common user facility, running the software, with Ceylon Petroleum Corporation (CPC) […]
Bus Blast III
Jan 16, 2007 (LBO) — A roadside bomb in southeastern Sri Lanka that targeted a passenger bus had killed 23 and injured 67, the defence ministry said Wednesday, as a ceasefire with the Tamil Tigers officially drew to a close.The bus was traveling from the town of Buttala to Okkampitiya, an area bordering the Eastern […]
Bloody Day
Jan 16, 2007 (LBO) – Two attacks on civilians in southeastern Sri Lanka left 28 people dead as a truce with Tamil Tigers ended Wednesday, while a roadside bomb injured three soldiers in a military vehicle, authorities said. Suspected Tamil Tiger guerrillas had attacked a group of farmers and killed two in a remote village, […]
Sri Lankan hotels in bid to raise earnings despite tourism downturn
Jan 15, 2008 (LBO) – Sri Lankan city hotels have announced plans to impose tough rules to raise standards and deliver a better service to tourists with the aim of earning more money after a recent rate hike. “The tourists go to a hotel with an expectation and it (hotel) is doomed if he sees […]