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CPC has floated a fresh tender for 150,000 barrels of either 500 ppm or 0.25 percent sulphur gasoil and 160,000 barrels of jet fuel for Sept. 23 delivery. The tender closes on Sept. 11, with up to 72-hours validity.
SINGAPORE (Reuters): High sulphur gasoil premiums fell on Monday as demand faltered in the region with the start of monsoon rains in Pakistan and a restart of Sri Lanka’s refinery after an unplanned shutdown, traders said. The cash premiums for the benchmark 0.5 percent sulphur gasoil fell by eight cents to 85 cents a barrel ...
- Ceypetco buys Feb cargo at a premium (Category: Business)
- Asia distillates: Margins slip on excess supply (Category: Business)
- Lanka IOC seeks over 70,000 T gasoil, gasoline for May (Category: Business)
- Sri Lanka, Philippines spot demand supports Asian gasoil market (Category: Business)
Reuters: Saudi Arabia is concerned about high oil prices and will take steps to moderate them, its oil minister said, in a statement that some in the oil market read as a signal to consumer nations that there is no need to release emergency oil reserves. “Saudi Arabia is concerned about rising oil prices in ...
- OPEC crude output surges to 31.4m bpd in March (Category: Business)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
- BPD investigate misconduct related to COVID-19 vaccine deployment (Category: USA, Maryland)
WASHINGTON (Reuters): Obama administration officials told energy experts this week they worry a release of crude from U.S. emergency reserves would do little to temper global oil prices partly driven by tighter supplies of refined fuel like gasoline. At an informal consultation on Thursday, mid-level officials from the National Security Council, the Department of Energy ...
- Global oil supply tightens in last two months (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
- Oil firmer on weak dollar, supply worries (Category: Business)
- China to raise fuel prices first time 10 months (Category: Business)
Access Engineering PLC, the leading value engineering solutions provider in Sri Lanka, was selected by China Harbour Engineering Company Ltd. to partake in one of the country’s most exhilarating infrastructure projects, the new International Airport at Mattala, Hambantota. Funded by the Government of the Peoples Republic of China, construction of the Hambantota International Airport is ...
- Mattala Airport progressing on schedule. (Category: Breaking News)
- Construction of Sri Lanka's second airport runway completed, government says (Category: Breaking News)
- Sri Lanka`s second international airport to be operational by the end of the year (Category: Breaking News)
- Access roads to Hambantota Airport under constructions (Category: Breaking News)
The International Air Transport Association (IATA) last week announced global traffic results for July showing slower growth in both air travel and freight, but with considerable variation by region and market. n July passenger demand in aggregate was 3.4% higher than the same month last year, compared to a 6.3% increase in June and average ...
- 2011 ends on positive note for global aviation (Category: Business)
- July global passenger traffic gets a boost, freight stagnates – IATA (Category: Business)
- Global aviation demand growth compromised by high oil prices – IATA (Category: Business)
Colombo was the automatic choice of Global Offshore Services Ltd. India, for their conversion/repair requirements to ready the Offshore Support Vessel (OSV) Shergar to meet with the stringent Petobras charter requirements. This project was awarded to Colombo Dockyard as a result of successful completion of OSV Kailash also owned by the same owners during June ...
- Dockyard completes Norwegian BOS Angler’s dry-dock repair (Category: Business)
- Colombo Dockyard strengthens services for offshore vessels (Category: Business)
- MV Brilliant dry docking repairs completed in Colombo (Category: Business)
- Quick job for UK owned container carrier’s Kota Halus repairs at Dockyard (Category: Business)
General outlook Global container freight volumes have continued to contract year over year. Container volumes shipped worldwide in June totalled 9,940,800 TEUs, a decline of 5.5% compared to May and 1.75% year over year. The world’s largest exporting region Asia, totalled 3,314,700 TEUs in June, which is less 5% from May and 1.5% year over ...
- Maritime Market Updates (Category: Business)
- Maersk sees 3% drop in Asia-Europe volumes (Category: Business)
- Transpacific container lines eye peak-season surcharge (Category: Business)
- Sri Lanka needs more base cargo to face future competition (Category: Business)
Going back to basics is the way out With climate change being a key concern among the community, Ratnapura Tea Research Institute Senior Research Officer Dr. M.A. Wijeratne noted that general tea cultivation would be disrupted in the coming years due to global warming. Possible impacts Discussing the potential impacts as predicted by scientists, Dr. ...
- Challenges of climate adaptation (Category: Technology)
- USAID’s Accelerator Programme showcases innovative entrepreneurs supporting climate resilient ap... (Category: Breaking News)
- Industry discusses Ceylon Tea’s ‘ExclusiviTea’ (Category: Business)
- A daily cup of tea, for a healthy heart and body (Category: Business)
YPSILANTI, Mich. (Reuters): Honda Motor Co needs the next generation of its bread-and-butter mid-sized car, the Accord, to be a hit in the United States. The Japanese automaker is counting on the 2013 Accord, being launched this month, to recapture share in the U.S. market’s largest and most competitive segment. Rivals are not standing still, ...
- Honda plans to make lighter vehicles (Category: Business)
- Marquez to replace Stoner at Honda (Category: Business)
- Honda begins production of new Accord in Ohio (Category: Business)
- Tiger back at Honda event for first time since 1993 (Category: Business)
Professional Met Consu-ltancy Services (Pvt.) Ltd. has been awarded Sri Lanka National best Energy Services Company award for the second consecutive year 2012 at the Sri Lanka National Energy Efficiency award ceremony held on 19 August at Colombo Hilton Hotel. Professional Met Consultancy Services Chairman and Managing Director M.A. Justin receives the award from Environment ...
- Professional Met Consultancy Services wins SL National Best Energy Services Company Award 2012 (Category: Breaking News)
- ISB excels at National Energy Efficiency Awards 2012 (Category: Business)
- 99X Technology wins Gold at 20th NCE Export Awards (Category: Business)
- Etisalat sales personnel shine at NASCO 2012 (Category: Business)
By Shanuka Tissera One of the country’s largest apparel exporters, Brandix, has successfully shown how eco-friendly solutions can be adopted by a large scale enterprise to not only reduce their carbon footprint, but prove a positive correlation between reducing carbon emissions and innovating planning resulting in heftier revenue streams. Brandix Lanka Head Environment and Energy ...
- Brandix factory in Bangladesh achieves eco milestone (Category: Business)
- Asia’s first carbon neutral IT company launches in Sri Lanka (Category: Business)
- Going Green (Category: Business)
Reuters: China’s top state newspaper warned the visiting US Secretary of State Hillary Clinton on Wednesday not to seek advantage from tensions in the South China Sea, ahead of talks likely to focus territorial disputes and other sources of discord. Beijing and Washington have both stressed hopes for steady ties, especially as they confront domestic ...
- Resource Conflict (Category: Business)
- Philippines’ Marcos says he remains firm in defending sovereignty (Category: Breaking News)
- Obama’s Asia “pivot” advances, but obstacles await (Category: Business)
- China top military paper warns of armed confrontation over seas (Category: Business)
The launch of Piaggio BOSA, manufactured in India using ultra-modern Italian technology, was held at Waters Edge recently. Introduced to the market by Associated Motorways Ltd (AMW), the distinctive features of Piaggio Bosa and the warm reviews it received from Dealers, amply demonstrated its capability to revolutionise the automotive trade. The launch ceremony of Piaggio ...
- AMW appreciates Piaggio sales, service and spares dealers (Category: Business)
- AMW opens Piaggio three-wheeler showroom in Batticaloa (Category: Business)
- Piaggio expands to Gampaha (Category: Business)
- AMW opens Piaggio three-wheeler showroom at Dambulla (Category: Business)
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
- SAFA-CMA Management Accounting Summit 2012 (Category: Business)
- Aitken Spence Hotels observe Earth Hour 2012 (Category: Business)
- Leading corporates commit to embedding ‘Global Compact and Sustainability’ (Category: Business)
Reuters: When the Nissan Motor Co compact sedan Sentra rolls into U.S. showrooms in the fourth quarter, consumers may notice that it looks a lot like its bigger stable mate, the recently introduced Altima. Nissan is pinning expectations of increased Sentra sales for the all-new Sentra in part on the more aerodynamic design and resemblance ...
- Nissan unveils sleeker Pathfinder SUV (Category: Business)
- Nissan Note aims to beat Japan laggard tag (Category: Business)
- Honda needs new Accord to be a hit in US (Category: Business)
- Automakers rev up new model rollout in US – study (Category: Business)
One of India’s largest business forces, the Mahindra group announced last week its plans to increase market share in Sri Lanka. The $ 15.4 billion Mahindra Group already has a presence in the automobiles and tractors industry, but is now planning to enter into two-wheeler, aerospace and vehicle finance. The title sponsors of the Sri ...
- Rural Competition (Category: Business)
- Indian Interest (Category: Business)
- Sri Lanka to get investments from India`s Mahindra vehicle group (Category: Breaking News)
- M&M plans to pip Tata Motors in Sri Lanka (Category: Breaking News)
Reuters: Sri Lanka has shut its sole 50,000 barrels-per-day oil refinery for a few days after damage to a floating pipeline at the Colombo port, an official said on Monday. The shutdown is unlikely to have a large impact on the Asian diesel market as Sri Lanka’s gasoil demand is lower than usual at the ...
- Temporay houses for Kolonnawa settlers (Category: Breaking News)
- Sapugaskanda oil refinery to commence operations again (Category: Breaking News)
- Oil Plan (Category: Business)
- ‘Sapugaskanda Oil Refinery’ to become a separate state enterprise (Category: Breaking News)
SINGAPORE (Reuters): Asian gasoil prices remained supported on Monday as spot demand emerged from Sri Lanka and the Philippines, traders said. Gasoil cracks slipped by 14 cents to $19.91 a barrel while September prices increased more than October gasoil prices in the derivatives market. Sri Lanka’s Ceylon Petroleum Corp. is seeking 300,000 barrels of gasoil ...
- Asia distillates-high sulphur gasoil premiums down on demand dip (Category: Business)
- Ceypetco buys Feb cargo at a premium (Category: Business)
- Asia Distillates-Sri Lanka, Philippines spot demand supports (Category: Breaking News)
- Lanka IOC seeks over 70,000 T gasoil, gasoline for May (Category: Business)
The Planters’ Association of Ceylon, the representative body of the island’s corporate plantation sector lauded the Regional Plantation Companies (RPC’s) which secured awards at the first ever National Plantation Awards held at Temple Trees recently. The ceremony saw a total of 86 outstanding performers including smallholders, manufacturers, exporters and RPCs receive awards from...
- Kelani Valley and Talawakelle win four National Plantation Awards (Category: Business)
- Pussellawa Plantation wins awards for rubber replanting and productivity (Category: Business)
- Plantation company among Sri Lanka’s top 10 (Category: Business)
- Elpitiya Plantations recognised for hydro power generation (Category: Business)
Mv Mercury Leader, a RORO vessel operated by NYK Line, called at the Magam Ruhunupura Mahinda Rajapaksa Port of Hambantota on 14 August 2012 for the discharge of 572 units, amongst which were equipment for the Mattala International Airport and construction material for the Shangri La Hotel project in Colombo. The discharging of the two ...
- Boat fire hits Tassal (Category: Australia, Tasmania )
- Boat prices hit rocks (Category: Australia, Tasmania )
- Teens cross Derwent in a tub (Category: Australia, Tasmania )
- 295-foot Canadian barge capsizes near Astoria (Category: USA, Washington)
United Motors Lanka PLC (UML) recently introduced the Valvoline diesel synthetic 5W-40 to the Sri Lankan market. The diesel synthetic 5W-40 is formulated with high-quality synthetic base stocks and a boosted additive system. The diesel synthetic 5W-40 boasts hi-performance synthetic technology that meets the stringent demands of modern diesel engines, including those built on ...
- United Motors introduces free watch promotion for Valvoline Syn-Power Oil (Category: Business)
- Sri Lanka Govt version: What to do aiyo! (Category: Breaking News)
- Caltex unveils ‘Delo Sports Synthetic Blend SAE 10W-30’ (Category: Business)
- VIDEO: What is synthetic biology? (Category: Technology)
As a preferred Bank for the Small and Medium Enterprises sector, Union Bank of Colombo PLC (UBC), for the fourth consecutive year pledged its supported to the National Chamber of Exporters (NCE) by becoming the principal sponsor for the Export of Business and Professional Services category in the 20th NCE annual awards which recognizes the ...
- Union Bank Principal Sponsor for 19th Annual NCE Awards (Category: Business)
- NCE wins Global Commerce Excellence Award (Category: Business)
- Girls basketball: Norman County East defeats Park Christian (Category: USA, North Dakota)
- Girls basketball: Norman County East defeats Park Christian (Category: USA, North Dakota)
Ceylon Petroleum Corporation (CPC) has made snubbing largest oil trader Vitol in its tenders a habit now sans plausible reasons. Quotation submitted by Vitol for this week’s tender for the import of gas oil among others despite being over Rs. 50 million cheaper hadn’t been read whilst bids by at least four others had been ...
- Now, CPC claims diesel clean as Harry J comes under AG s probe (Category: Breaking News)
- Vitol fumes over continuity in alleged discrimination by CPC (Category: Business)
- Vitol Group refutes allegations on inferior diesel fiasco (Category: Business)
- Singapore s Vitol to supply Petrol 92 Octane for four months (Category: Breaking News)
The Petroleum Industries Ministry has assured that there would not be a fuel shortage in the country as speculated by some elements. He gave this assurance in response to reports that there would be a fuel shortage following the wastage of a large quantity of fuel over the substandard fuel issue. The Ministry said the ...
- No shortage of fuel in Sri Lanka, Petroleum Ministry assures (Category: Breaking News)
- Sri Lanka govt schools to start from July 25 (Category: Breaking News)
- No fuel shortage due to U.S. oil sanctions on Iran (Category: Breaking News)
- Prices slashed not due to election - Johnston (Category: Breaking News)
Stuttgart: The new Porsche 911 Carrera 4 unites the excellent performance and efficiency of the new generation of the 911 Carrera with the dynamic benefits of the latest version of the active all-wheel drive system PTM (Porsche Traction Management). The typical Porsche all-wheel drive with rear-focused layout in this latest 911 version guarantees maximum vehicle ...
- Porsche new Boxster to premier at Geneva Motor Show (Category: Business)
- Edmunds: The Chevrolet Corvette vs. the Porsche 911 (Category: USA, South Dakota)
- Edmunds: The Chevrolet Corvette vs. the Porsche 911 (Category: USA, South Dakota)
- Edmunds: The Chevrolet Corvette vs. the Porsche 911 (Category: USA, South Dakota)
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
- Inflation seen at 42-month high in July (Category: Business)
- Rupee fall drives inflation to 41-month high (Category: Business)
- CB says policy rates appropriate (Category: Business)
- India’s inflation hits three-year low, cenbank seen unmoved (Category: Business)
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
- Honoured for driving marketing in Sri Lanka (Category: Business)
- New tea industry model: By default? (Category: Business)
- Focus on the magic than logic (Category: Business)
- Sri Lanka can be a top 30 country by 2015 (Category: Business)
Achievements so far The authorities have achieved significant success in reducing the budget deficit from 9.8% of GDP in 2009 to 6.8% in 2011. The bold measures introduced in February/March 2012 to increase fuel and electricity prices, passing on higher global costs, have gone a long way towards reducing the off-balance sheet losses of 2% ...
- Does Wage Growth Retard Economic Growth? (Category: Breaking News)
- Pathfinder Foundation welcomes recent fiscal and monetary measures (Category: Business)
- Financial Roadmap for 2012 unveiled (Category: Breaking News)
What is Enterprise Resource Planning? Enterprise Resource Planning (ERP) systems integrate internal and external management information across an entire organisation, embracing finance/accounting, manufacturing, sales, HR and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application. The purpose of ERP is to facilitate the flow of in...
- User satisfaction ranks ABAS ERP as number one (Category: Business)
- ERP project ‘kick off’ for Browns (Category: Business)
- Bileeta, an affordable ERP system for all organisations (Category: Business)
- Triumph geared to scale new heights with ZILLIONe and Microsoft (Category: Business)
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