Category: Shipping and Transport

Mar 05, 2013 (LBO) – Sri Lanka will get US8 million dollars in loans from China to build 26.75 kilometres of rail track from Matara to Beliatta in the South of the island, the finance ministry said. The Exim Bank of China will provide 200 million US dollars under an agreement signed on February 18 […]

Feb 21, 2013 (LBO) – United Motors Plc, agents for Mitsubishi in Sri Lanka launched a 1.2 litre engined Mirage car into an auto market that has been dented by a tax-hike, high interest rates and currency depreciation. “We are not very ambitious with the current taxation and where the yen is,” managing director Chanaka […]

Feb 19, 2013 (LBO) – Sri Lanka’s registrations of BMW luxury cars rose 280 percent in January 2013 from a year earlier following changes to taxes while new registrations of small Maruti/Suzuki models plunged 84 percent, data compiled by an equities research house show.Monthly data from Sri Lanka’s motor vehicle registry compiled by JB Stockbrokers […]

Feb 07, 2013 (LBO) – Sri Lanka will rehabilitate a colonial era canal north of the capital Colombo for tourism promotion and to improve the livelihoods of people living in the area, information minister Keheliya Rambukwelle said.Negombo beach area is a popular tourist area. State-run Sri Lanka Land Reclamation and Development Company had been awarded […]

Feb 03, 2013 (LBO) – Sri Lanka’s Navy has rescued 127 Bangladeshi and 11 Myanmar nationals from a wooden vessel that has been drifting 50 nautical miles off the eastern coast of the island.Sri Lanka’s Navy said 132 males, 03 females and 03 children were taken off an overcrowded wooden vessel and brought to Oluvil […]

January 31, 2013 (LBO) – The Royal Netherlands government has begun using key ports across Sri Lanka as points to disembark groups of marines deployed to protect Dutch marines from piracy attacks in the Indian Ocean. The group of Vessel Protection Detachment (VPD) team, currently protect vessels originating from Suez in Egypt. Most of these […]

Jan 21, 2013 (LBO) – Sri Lanka’s southern port of Galle has become a hub in the fight against Somali pirates who threaten international merchant shipping, a report in a new magazine said. “Sri Lanka is one of the few countries in the region to authorise the transit of armed guards through their waters for […]

Jan 20, 2013 (LBO) – Sri Lanka Transport Board, a loss-making state bus utility has been given a 2.8 billion rupee bailout from tax payer money, the state information office said.In 2011 the SLTB had being given a 3.939 billion rupee subsidy on top of a 4.6 billion rupee cash handout the year earlier, according […]

Jan 18, 2013 (LBO) – Sri Lanka will build 37 major bridges on national roads with a loan from the Japan and major roads in Colombo will be re-built with another credit, information minister Keheliya Rambukwelle said.A bridge on the Nawala-Nugegoda road will also be reconstructed with the funds. Sri Lanka will borrow 12.38 billion […]

Jan 18, 2013 (LBO) – Sri Lanka’s new vehicle registrations fell 44.8 percent to 25,308 in December 2012, with new registrations of small Maruti and Suzuki cars down 64 percent and BMW cars up 161 percent, data compiled by JB Securities equities research shows.BMWs are believed to be imported on tax-slashed permits given to state […]

Jan 17, 2013 (LBO) – Lanka Ashok Leyland, unit of Ashok Leyland has won a 700 million rupee contract to supply 200 buses to Sri Lanka’s state transport utility. Sri Lanka’s transport ministry will buy 200 buses from Lanka Ashok Leyland Plc, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved a proposal […]

Jan 10, 2013 (LBO) – Sri Lanka will borrow 960 million Yuan (153 million US dollars) from China for additional costs to build a port in Hambantota, information minister Keheliya Rambukwelle said.The money will be used for “ancillary works” and the purchase of equipment in the first phase of the project. The first phase of […]