Category:
Maldives reject foreign pressure over vote hold-up
COLOMBO, October 2, 2013 (AFP) – Outgoing Maldivian president Mohamed Waheed vowed on Wednesday to resist international pressure to hold swift elections after the Supreme Court suspended a presidential run-off due last weekend.Waheed, in an address to the nation of 350,000 Sunni Muslims, said the court’s decision had plunged the country into “chaos”, but said […]
SriLankan Airlines commissions A320 hangar
Oct 02, 2013 (LBO) – SriLankan Airlines said it had commissioned a new hangar for Airbus A320 aircraft at which will expand facilities to repair and maintain aircraft. The new hangar will also be equipped to perform full strip and paint jobs on narrow body aircraft later. The new hangar, located at the BIA complex […]
Sri Lanka seeks to manage power demand
Oct 02, 2013 (LBO) – Sri Lanka’s power regulator is setting up rules for ‘demand side management’, but the main utility and other stakeholders have asked for fine tuning and await a load research study. “At present the marginal cost of production of power is very high,” Damitha Kumarasinghe director general of Sri Lanka’s Public […]
Sri Lanka and India to ink coal plant deal this month
Oct 02, 2013 (LBO) – Power utilities of Sri Lanka and India will ink a key deal to start a 500MegaWatt coal plant in the island’s north east coast next week, a senior official said.The plant is seen as crucial to avoid power shortages in Sri Lanka by 2017/2018. Sri Lanka now has one 300MW […]
Sri Lanka policies help aged: UN backed study
Oct 02, 2013 (LBO) – Sri Lanka’s decades long spending in education and health has made the lot of the aged among the best in Asia, a United Nations backed study has found. A study by HelpAge International, a charity which constructed a ‘Global AgeWatch Index has ranked Sri Lanka fourth in Asia after Japan, […]
Sri Lanka stocks down, rupee stronger
Oct 01, 2013 (LBO) – Sri Lanka’s stocks closed 0.39 percent lower and the rupee gained against the US dollar on export conversions and dollar sales by foreign banks, dealers said. Export conversions and dollar sales by foreign banks saw the rupee gain against the US dollar amidst thin volumes, dealers said. The central bank […]
Sri Lanka energy efficient lighting penetration tops 50-pct: official
Oct 01, 2013 – Sri Lankan power users have adopted energy saving lighting in a big way conserving an estimated 312 MegaWatts of load a day and keeping a night peak from rising faster, a sector official said.It also involves start up costs for generators. Sri Lanka also charges penal rates from larger household customers, […]
‘s capital to get better water supply: ADB
Oct 01, 2013 (LBO) – Sri Lanka’s capital Colombo and surrounding areas will get 24 hour water supply and water losses will be plugged under a new program financed with an 88 million US dollar credit, Asian Development Bank said. “Though 95 percent of Colombo is covered by a piped water supply system, the distribution […]
Sri Lanka NSB bond gains, yields plunge in aftermarket
Sept 30, 2013 (LBO) – A bond sold by state-run National Savings Bank at 8.875 this month percent surged in the aftermarket to yield as low as 8.05 percent, giving quick capital gains to investors. NSB sold 750 million US dollars of five year bonds amid unsettled market conditions ahead of a US Fed decision […]
Sri Lanka stocks flat, rupee steady
Sept 30, 2013 (LBO) – Sri Lanka stocks closed flat amid a broad sell-off of smaller capitalized stocks and the rupee was steady, brokers and dealers said. The benchmark Colombo All Share Price Index (ASPI) closed 5.30 points lower on Monday to 5,803.32, down 0.09 percent after hitting an intraday high of 5,815.84. The S&P […]
Port Island
Sept 30, 2013 (LBO) – Sri Lanka is planning to build an artificial island off Hambantota in the South of the island with the sand dredged to expand a port there, a media report said. In the first phase the Hambantota is positioned as an industrial and bunkering port. The port will get revenue from […]
Decent Conditions
KATHMANDU, September 27, 2013 (AFP) – Rights groups urged South Asian governments Friday to demand proper protection for their migrant workers amid outrage over the deaths of dozens of Nepalis on projects linked to the 2022 World Cup in Qatar.While Nepal’s government said it would not try to halt the flow of migrant workers after […]