Category: Industry
‘s biggest biomass plant
LONDON, Nov 21, 2007 (AFP) – Britain is to build the biggest biomass plant in the world, Business Secretary John Hutton said after giving the green light to the renewable energy project.Doug Parr, Greenpeace UK’s science spokesman, also lamented the fact it would not produce heating too and expressed concerns about the wood being transported […]
Getting Close
Nov 22, 2007 (LBO) – Amba Research, a specialised investment research outsourcing firm with offices in Sri Lanka said it had been short-listed for an award program run by the Chartered Institute of Management Accountants (CIMA) and the Financial Times newspaper of London.The CIMA Employer of the Year award had been previously won by firms […]
Slow Quarter
Nov 22, 2007 (LBO) – Sri Lanka’s PABC Bank said net profit for the September quarter was down five percent year-on-year to 40 million rupees. Interest income rose to 521 million rupees from 342 million rupees in the same period the year before, according to interim result given to the Colombo bourse. Net interest income […]
NPL Hit
Nov 22, 2007 (LBO) – The Sri Lanka branch of HSBC has taken a record 1.4 billion rupee hit from bad loans which saw net profits plummeting 56 percent in the first nine months of the year, the bank’s interim accounts showed. HSBC made a specific provision of 1,414 million rupees, up from 120 million […]
Sri Lanka hammer England in tour opener
Nov 21, 2007 (AFP) – England’s bowlers got a taste of the perils that await them in the upcoming Test series as Sri Lanka’s second-string battered them in a practice match here on Wednesday.The Sri Lanka Cricket XI batted through the second consecutive day to take their overnight total of 218-3 to 500-5 declared by […]
KE Strategy
Nov 21, 2007 (LBO) – Sri Lanka could boost economic activity and social well-being through a knowledge economy (KE) strategy that makes better use of ‘grey matter’ the World Bank has said. “With globalization and the technological revolution of the last few decades, knowledge has clearly become the key driver of competitiveness and is now […]
Vital Links
Nov 21, 2007 (LBO) – Sri Lanka is in danger of losing an opportunity to emerge as a logistics hub for the south Asian region unless it acts to improve port efficiency, fast track infrastructure projects and cut red tape, officials said Wednesday. “Apart from peace, the most important requirement for Sri Lanka is logistics,” […]
Umpire sorry for giving Sangakkara out, says skipper
HOBART, Australia, Nov 20, 2007 (AFP) – South African umpire Rudi Koertzen apologised to Kumar Sangakkara for giving him out in controversial circumstances within sight of his seventh Test double-century here Tuesday. The star batsman was stunned when Koertzen gave him out to a catch by Ricky Ponting, which effectively ended Sri Lanka’s remote chances […]
Airline passengers prefers more self-service: IATA
Nov 20, 2007 (LBO) – Airline passengers increasingly prefer to do their own ticketing and checking in at airports, according to a global survey by the International Air Transport Association (IATA). The preference for self-service was revealed in IATA’s annual Corporate Air Travel Survey of over 10,000 active travellers, which shows passengers are demanding more […]
Investment Grade
Nov 20, 2007 (LBO) – Senkadagala Finance (SF) has seen slower lending and faster growth in higher purchase loans, Fitch Ratings Lanka said, confirming the finance company’s ‘BBB+(lka) investment grade rating. . “The rating reflects SF’s strong profitability and comfortable capitalisation as well as its medium sized asset base and limited revenue and funding diversity,” […]
Most Preferred
Nov 20, 2007 (LBO) – A Sri Lanka government panel has decided to start negotiations with the front runner for a new container terminal in Colombo with a Port of Singapore Authority and Aitken Spence bid being hot favourites to win the deal, officials said. The cabinet appointed negotiating committee (CANC), which made its decision […]
Sri Lanka in trouble against Aussies
HOBART, Australia, Nov 19, 2007 (AFP) – Sri Lanka hit early trouble in their chase for an improbable 507 runs to win the second cricket Test and square the series with Australia at Bellerive Oval on the fourth day here Monday.Jaques was chasing his third consecutive century against Sri Lanka in the series.The tourists began […]