Category: Industry
Trade Links
Jan 11, 2007 (LBO) – Sri Lankan shipping officials have questioned the validity of a recent World Bank ranking on logistics that placed the island even below landlocked Uganda, despite Colombo’s position as a container transshipment hub. The criticism came at a videoconference discussion connecting audiences in Bangladesh, India, Pakistan, Nepal, Sri Lanka, and Washington […]
Sri Lanka and India to fix coal power plant site this month: minister
Jan 11, 2008 (LBO) – Sri Lanka and India will finalize the site for a 500 MegaWatt coal fired joint venture power station this month, energy minister John Seneviratne said. About 25 percent of the householders, mostly in rural Sri Lanka do not have access to electricity. Seneviratne said an agreement has been sighed with […]
Sri Lankan Airlines aircraft damaged in Frankfurt
Jan 10, 2007 (LBO) – A SriLankan Airlines aircraft has been damaged at Franfurt airport shortly before take off, but passengers had been housed in hotels and are being flown to Colombo on other carriers, a company spokesman said. In October 2007, another aircraft scraped the wing of a SriLankan Airlines aircraft while it was […]
Sri Lanka sees foreign visitors surge 55-pct in December
Jan 10, 2008 (LBO) – Foreign visitors to Sri Lanka surged 55 percent in the peak winter season month of December 2007, the island’s tourism promotion office said, though the island saw 11 percent less tourists in the full year. Visitors from key Western European markets jumped 56.6 percent to 23,500 in December with the […]
New Zealand judge to chair cricketer Singh appeal
DUBAI, Jan 9, 2008 (AFP) – New Zealand judge John Hansen has been appointed as commissioner for the appeal of Indian spinner Harbhajan Singh against the finding that he made racist comments during the second Test against Australia.In the meantime, Harbhajan may continue to play pending the verdcit of the appeal being given.The BCCI announced […]
Sri Lanka gets World Bank push for renewable power
Jan 09, 2008 (LBO) – A new credit line from the World Bank inked Wednesday will help build 50 mega watts of power in rural Sri Lanka, helping light up 60,000 rural homes, officials said. The money would be lent through the DFCC Bank for off-grid renewable energy projects. The World Bank is giving 40 […]
Sri Lankan Airlines in transitional management deal with Emirates
Jan 09, 2007 (LBO) – Sri Lanka was working on a transitional management structure with Emirates for national carrier Sri Lankan Airlines after the Middle Eastern airline decided not to renew its management deal, a senior government official said Wednesday. But the government had not yet decided to buy back the Middle Eastern airline’s 43.6 […]
Forestry Tourism
Jan 09, 2008 (LBO) – A Sri Lankan leisure group is involving tourists in a reforestation project as the country’s main tourism promotion body attempts to position the island as an eco-friendly green destination. The Jetwing group says its ‘Eternal Earth’ project which was kicked off this week at their Hunas Falls Hotel nestled adjacent […]
Cyber Trade
Jan 09, 2007 (LBO) – The Ceylon Chamber of Commerce ‘Trade Point’ electronic commerce gateway has been activated, enabling Sri Lankan small businesses to better access global trade opportunities, the chamber said Wednesday. The chamber was granted operational status as a fully operational trade point and the right to operate as a member of the […]
Retailer Rating
Jan 09, 2008 (LBO) – Rating agency Fitch assigned ‘A (lka)’ long term rating to Abans Private Limited in Sri Lanka with a stable outlook, the agency said Wednesday. Abans, owned by the Pestonjee family, has not put forward a clear succession plan nor introduced independent directors to its board, the ratings agency says. The […]
Sukuk Securities
Jan 09, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC), the island’s top vehicle financier, plans to raise more than 500 million rupees through Shariah compliant asset-backed securities, officials said. “There is tremendous potential for this type of product,” says People’s Leasing chief D P Kumarage. “We have been involved in Shariah compliant products […]
Top Dog
Jan 09, 2007 (LBO) – NDB Investment Bank (NDBIB) said it had helped mobilize 30 billion rupees in debt and equity from Sri Lanka’s capital markets in 2007 through some of the largest deals in the financial history of the island. NDBIB says it had been mandated by several firms to take them public. NDB […]