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Govt. calls for strong energy conservation to prevent shortages, says hydro at 12%, CEB loses Rs. 200 m a day By Uditha Jayasinghe Despite the drought, the Government yesterday assured that there would be no power cuts but stressed on the need to increase power conservation to continue generation until the next monsoon season. ...
The VE Commercial Vehicles Limited of India, manufacturers of Eicher trucks and buses, recently awarded NEM Constructions Limited Chairman/Managing Director Raja Nanayakkara for purchasing the highest number of Eicher tipper trucks from Associated Motorways Ltd. (AMW), which imports and markets Eicher commercial vehicles in Sri Lanka. VE Commercial Vehicles CEO Vinod Agarwal presenting the award ....
The new Jeep Compass 4×4, which goes on sale in July 2012, heralds an exciting future for the iconic Jeep brand. Along with the introduction of the much talked about all new Grand Cherokee and the Wrangler Rubicon Unlimited, Jeep enthusiasts in Sri Lanka can now enjoy the comfort and the splendour of the all ...
Like Sri Lanka, India is also facing a fuel crisis. However, some Indian economic experts had analysed the situation and expressed an opinion, which is applicable to Sri Lanka as well. In 1970 America insisted that all petroleum (crude oil) dealings should be in US dollars. Several countries purchased excess US sdollar to be kept ...
The Sri Lanka Ports Authority (SLPA) has scheduled to commence a new project of laying of new bunker fuel pipelines, on a priority basis to be used by all license holders, with enhanced efficiency and productivity. This decision was made having realised the necessity of replacing the dilapidated existing bunker fuel pipeline, which is more than 60 years ...
The biggest players in the construction industry will show off their latest innovations at Sri Lanka’s largest construction exhibition, ‘Construct 2012’. The grand event is set to take place on 10, 11 and 12 August at the Sirimavo Bandaranaike Memorial Exhibition Centre. Customers, enthusiasts and industry stakeholders alike, will come to witness a display of ...
Reuters: Sri Lanka’s inflation rate accelerated to a 41-month high in June driven by the rupee’s sharp depreciation, while food prices were hit by supply constraints due to drought and government policies to discourage selected imports. Annual inflation hit 9.3% in June from a year earlier, its highest since January 2009 and up from 7.0% ...
India on Friday slashed fuel prices in a bid to bring relief to consumers, putting the stagnant oil prices in Sri Lanka under stronger focus. As the rupee continues to dip, there is ever-increasing pressure on the Government to take action on keeping the cost of living bearable – a tough task at the best ...
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
Rio+20 has come and gone. For some, with June gone, the task may be looking at the flavour of the month for July to prop up different hoardings. The conference was concluded successfully and most of the final photos and comments indicated it was well attended and well run and perhaps well concluded. For sure, ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related to their accountability. Despite this, and setting ...
Prestige Automobile Ltd., the agents of BMW in Sri Lanka on Monday announced the launch of the BMW ActiveHybrid 5, another series-produced model in which a combustion engine and electric motor join forces to enhance both efficient and the brand’s hallmark driving pleasure. The new machine will be retailing at BMW showroom at Battaramulla. The ...
Leader in processed meat Keells Food Products Plc is doubling its capacity with the purchase of production facility of D&W Foods Ltd., at Pannala for Rs. 700 million. The Company also announced a Rights Issue to raise Rs. 1.02 billion. Both moves are subject to shareholder approval at an EGM. D&W Foods is located at ...
United Motors Lanka PLC (UML) recently announced the start of a promotional campaign for Valvoline synthetic oil. The promotion is targeted at customers who purchase a four litre can of Valvoline’s Syn-Power 5W40 and customers will be eligible for a free Valvoline branded watch until stocks last. The first customer to receive the free watch ...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Over 25,000 passengers carried in eight months with Kandy, Badulla, Trinco and Vavuniya as destinations Ever since its launch in October 2011, Expo Rail has been on an upward drive redefining rail travel in Sri Lanka. With four destinations in its portfolio – Badulla, Kandy, Trincomalee and Vavuniya – Expo Rail has, in the past ...
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard and Poor’s.“Standard and Poor’s reiterated what we have been saying ...
By Cheranka Mendis Several French institutions are exploring prospects to offer energy efficiency solutions to the booming construction sector in Sri Lanka. At a key industry forum organised by the Trade Commission of the French Embassy Yesterday, seven French companies along with French Agency for Environment and Energy Management (ADEME) Energy Expert Robert Angiletti and ...
Sri Lanka’s Timex and Fergasam Group (T&FG), a manufacturer and exporter of high quality garments, is ready to commence the construction of twin apparel factories in Mannar Industrial Zone approved by Board of Investment (BOI) end of June 2012. This proposed US$ 5 million worth factory, a first in the Mannar region will be ready ...
Sri Lanka Association of Public Health Inspectors has decided to walk away from their duties from today in protest of Government’s failure to grant their demands. The public health inspectors (PHIs) say that they will not participate in the meetings of the Department of Health and will not provide the reports to the Department. They ...
Sri Lanka is on a drive to reduce manufacturing costs by slashing industry power consumption. “I am pleased to announce that My Ministry has implemented a much needed industry grade energy efficiencies at factory level, using the Public Private Partnership (PPP) model. We are targeting to reduce industrial energy consumption by 10% initially,” said Minister ...
By Cheranka Mendis in Kathmandu A 400kv electricity integration project between Sri Lanka and India at an approximate investment of US$ 400 million is now at the final stage of discussion and is expected to commence work in the near future. To be financed by the Asian Development Bank (ADB), the project will transmit electricity ...
Lanka IOC has raised the price of diesel. It has for some time been asking that it be allowed to determine its own prices. But unfortunately it caters to too small a market share and cannot afford to get too far out of step without losing business. Now that world oil price is slipping, there ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
With highest-ever top and bottom line performance premier blue chip JKH says knowing exactly who were are, what we stand for and where we are headed makes all the differenceI am pleased to present the Integrated Annual Report, and the Statement of Accounts, for the Financial Year ended 31 March 2012. The Report encapsulates the ...
Ford Motor Company unveiled the highly anticipated all-new Ford Ranger at the Ceylon Motor Show 2012, where Sri Lankan consumers will be able to see and experience the redesigned vehicle for the first time. The class-leading compact pickup truck has been completely reinvented, offering superior performance, safety, technology and quality. Ford returns to the Ceylon ...
The United States State Department will exempt Sri Lanka along with six other countries from financial sanctions after they have agreed to reduce their imports of Iranian oil, the White House has announced Monday. Along with Sri Lanka the US has exempted India, Malaysia, South Korea, South Africa, Taiwan and Turkey for six months. In ...
UNITED NATIONS (IPS): Irreversible environmental damage threatens to destabilise the world’s life-support systems unless urgent action is taken, according to the latest Global Environment Report (GEO-5) which looks to the Rio+20 summit as a crucial opportunity to halt this decline. The fifth edition of the United Nations Environment Programme’s (UNEP) flagship environmental report comp...
Given one month extension pending reconstitution Adding to the confusion and controversies, the Board of Directors of the BOI is in limbo with subject Ministry Secretary Dr. P.B. Jayasundera giving it a month’s extension. The move follows the tenure of the members of the Board ending recently and until the latest extension indicated this week, ...
The Sri Lanka-Norway Business Matchmaking Program of the Ceylon Chamber of Commerce released its annual report recently. The Project is a longstanding co-operation between the Ceylon Chamber of Commerce and Norad and has been providing mutually beneficial services to both countries for a period close to two decades. According to the year 2011 annual report ...