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Sri Lanka power regulator proposes green tariffs; cross subsidies
Dec 03, 2010 (LBO) – Sri Lanka’s power regulator has called for public responses on proposed new tariffs for next year, which indicate steep rises for some domestic users and low prices for industry and government offices and a new green tariff. Sri Lanka governments own energy policy has an objective to cut widely discriminatory […]
Sri Lanka renewable tariffs: waste, dendro, wind most expensive
Dec 03, 2010 (LBO) – Sri Lanka’s new tariffs for renewable energy show that dendro (wood) would be more expensive than wind and municipal waste heat would be paid the highest tariff, displacing wind as the most expensive source. New tariffs released by the Public Utilities Commission in November 2010 say that municipal waste fired […]
Sri Lanka war crime probe position unchanged: US
Dec 03, 2010 (LBO) – The United States has consistently called on Sri Lanka to have a credible probe into alleged war crimes during its war against Tamil Tiger separatists, a statement from the US embassy said. The statement was issued after news reports that US Ambassador Patricia Butenis reportedly cast doubt whether Sri Lanka […]
Sri Lanka sees anti-British protests over Oxford snub
December 3, 2010 (AFP) – Hundreds of ruling party activists demonstrated at the British embassy in Colombo Friday to denounce Oxford University’s debating society for cancelling a talk by President Mahinda Rajapakse. “Down with anti-Sri Lanka policy! ” shouted activists led by Housing Minister Wimal Weerawansa, who spearheaded protests against the United Nations in July […]
‘s talk
December 2, 2010 (AFP) – Sri Lanka’s government lambasted the prestigious Oxford Union Thursday for cancelling a talk by President Mahinda Rajapakse following protests from ethnic Tamil groups. Rajapakse was scheduled to make a speech to the union, Oxford University’s debating society, which has hosted speakers ranging from Michael Jackson to the Dalai Lama, but […]
Sri Lanka stocks close down 0.3-pct
Dec 02, 2010 (LBO) – Sri Lankan stocks ended down 0.32 percent Thursday, with both indices being dragged down by index heavy stocks and the banking sector, brokers said. The All Share Price Index closed at 6,538.84, down 0.32 percent (21.05 points) while the Milanka index of liquid stocks dipped 0.73 percent (52.05 points) to […]
Piracy Business
KUALA LUMPUR, December 2, 2010 (AFP) – Malaysia says it is taking steps to secure the release of a Malaysian-flagged cargo ship and its 23 crew seized by Somali pirates last week in the Indian Ocean. The MV Albedo container vessel was en route from the United Arab Emirates to Kenya when it was hijacked […]
Credit Upturn
Dec 02, 2010 (LBO) – Sri Lanka’s HSBC unit is seeing a steep increase in corporate lending as the island recovers from a 30-year war and the country is re-building infrastructure, an official said. “Corporate banking has grown 30 percent from January to October,” HSBC chief executive Nick Nicolaou said. “Though people say banks aren’t […]
Consumer Finance
Dec 02, 2010 (LBO) – Singer Finance (Lanka), a subsidiary of the Sri Lankan unit of the Singer multinational, plans to raise 400 million rupees by offering 26. 66 million shares at 15 rupees each, officials said. The Colombo stock market has been on a bull run this year, hitting record highs, although prices have […]
Sri Lanka heritage hotel to lure ship passengers again
Dec 02, 2010 (LBO) – Big Sri Lankan operators and international chains have responded to a call to restore the original charms of a colonial-era hotel overlooking Colombo port once popular with visitors who came by ship, an official said. “We want to bring it back to its original form,” said Gamini Wickemasinghe, chairman of […]
Sri Lanka October tea exports hit new high
Dec 02, 2010 (LBO) – Sri Lanka’s tea export earnings hit a new high in October 2010 as shipments rose to their highest level in four years amid high prices, brokers said. Some of the BOP type teas rose by over 50 rupees a kilo. Prices of low grown teas, which make up the bulk […]
Liquid Lending
Dec 02, 2010 (LBO) – The Asian Development Bank (ADB) will provide 90 million US dollars in loans to help Sri Lanka restore water supply and sanitation infrastructure in the war-ravaged north, a statement said. The project, due for completion by February 2017, will help restore and modernise key infrastructure damaged by war or which […]