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Sri Lanka power demand hits new peak
Mar 23, 2011 (LBO) – Sri Lanka’s night power demand hit a new peak load of 2,000 MegaWatts on Tuesday amid hot seasonal weather and growing usage, in a day that the utility officially commissioned a new 300 MegaWatt coal plant. Power demand hit a peak of 1,999 MegaWatts at 7. 30 in the evening […]
Sri Lanka stocks recover
Mar 22, 2011(LBO) – Sri Lankan stocks closed 0. 89 percent higher Tuesday following Monday’s losses with gains in selective stocks, brokers said. The All Share Price Index closed at 7,220. 26, up 0.89 percent (63.93 points) while the Milanka Price Index of more liquid stocks closed at 6,696. 79, up 0.93 percent (62.01 points), […]
Regulated Listing
Mar 22, 2011 (LBO) – Senkadagala Finance, a closely-held registered finance company, was allowed to trade on Colombo’s Stock Exchange on March 22, but there were no deals despite offers going up to ten times its net asset value, dealers said. The CSE is shortly to bring minimum ‘free float’ limits for listed companies to […]
Sri Lanka to add a thousand rooms for tourists this year
Mar 22, 2011 (LBO) – Sri Lanka’s tourism authority says another one thousand rooms will be added to the current tourist accommodation by the end of the year to cater to booming demand. “One thousand rooms will be added and they will be in different categories,” Nalaka Godahewa, Chairman, Sri Lanka Tourism said. “Our statistics […]
Sri Lanka UN tourism confab to debate media
Mar 22, 2011 (LBO) – Sri Lanka will host a United Nations backed tourism conference covering Asia Pacific which will also debate the role of media in tourism, an official said. The sessions include a one day seminar on “Mainstreaming tourism in the media” which will see the participation of international media and marketing experts. […]
Sri Lanka apparel maker deepens lingerie focus
Mar 22, 2011 (LBO) – Sri Lanka’s Brandix, a top apparel exporter, is expanding its lingerie business by launching a separate division, after getting full control of two joint venture factories and buying a third facility, the group said. The lingerie business now employs 2,600 people and there were plans to increase workers by 20 […]
Sri Lanka to add 600MW of power by 2014: president
Mar 22, 2011 (LBO) – Sri Lanka will add another 600 MegaWatts of capacity to the national grid by 2014, ensuring uninterrupted 24-hour power supply, President Mahinda Rajapaksa said while commissioning the country’s first coal power plant. The country is also seriously looking at alternative, clean sources of energy, not wanting to depend on a […]
Sri Lanka exports to get easier China customs clearance
Mar 22, 2011 (LBO) – China plans to make it easier for Sri Lankan exports to the country to clear customs and be distributed to local markets, according to the island’s Ministry of Industry and Commerce. “China is planning to provide favourable policies for custom clearance and inland transportation for exports coming from Sri Lanka,” […]
Aravinda De Silva hits out at Sri Lanka soft centre
March 22, 2011 (AFP) – World Cup winner Aravinda de Silva believes Sri Lanka’s misfiring middle order could be the weakest link in Saturday’s quarter-final clash against England. De Silva, who is now the team’s chief selector, also said the day-night match at the R. Premadasa stadium will be “tough”, with the toss playing a […]
Sri Lanka shares close down 0.40-pct
Mar 21, 2011 (LBO) – Sri Lankan shares sank again Monday, extending Friday’s losses in choppy trade, with a large private deal in Central Finance, which was among top gainers, boosting turnover, brokers said. The All Share Price Index closed at 7,156. 33, down 0.40 percent (28.61 points) while the more liquid Milanka index fell […]
Radiation Check
Mar 21, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) said it is using scanners installed under an American counter-terrorism initiative to scan cargo from Japan at Colombo port for radiation. The scanners can detect radioactive materials inside containers. The Colombo port scanning was prompted by the release of radiation into the atmosphere from […]
Debt Rating
Mar 21, 2011 (LBO) – Fitch Ratings Lanka has assigned Senkadagala Finance Company’s (SFC) proposed senior unsecured redeemable listed debentures of up to a billion rupees a ‘BBB+(lka)’ rating. The company was established in 1968 by the Balasuriya family, who owns 90 percent of SFC’s equity. The agency has simultaneously confirmed SFC’s National Long-Term rating […]