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The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events of macro factors make ...
Sports Minister Mahindananda Aluthgamage told Parliament today that both he and the government are not happy or satisfied with the performance of the Sri Lanka Cricket as it has adopted a policy of entertaining clubs rather than improving the game. “No cricket board in the world spends money to make clubs happy but the SLC does. We hope to change this situation by the end of this year,&#...
Aug 08, Colombo: Petroleum Minister of Sri Lanka Susil Premajayantha has told the parliament that the current fuel quality standard tests conducted are old and there is a need to revamp the standards and quality control tests conducted on imported fuel.
THE Auditor General is to be called in to investigate oil purchases made by the Ceylon Petroleum Corporation (CPC) from 1 August 2011 to 31 July 2012 in a move to sooth disgruntled nerves over the recent substandard fuel fiasco. While the step is a positive one, it is questionable whether this is enough to ...
With US$ 500 m capital infusion national carrier ready for stronger take off By Cheranka Mendis Sri Lanka’s national carrier SriLankan Airlines and budget carrier Mihin Lanka are growing despite challenges and are no longer loss-making entities, SriLankan Airlines Chairman Nishantha Wickremasinghe said. Hosting a group of journalists around the SriLankan base in Katunayake, Wickremasinghe .....
Aug 07, Colombo: Sri Lanka's main opposition United National Party (UNP) says that the substandard fuel imports to the country has resulted in the Ceylon Petroleum Corporation (CPC) incurring losses amounting to Rs. 100 million.
RAM Ratings has called for right policy measures to diversify the country’s energy sources as well as increase private sector participation in the sector. This and several other key recommendations along with salient developments are highlighted in RAM’s energy sector update titled ‘Sri Lanka Power Sector – Firing the Rain’. The report said, drawing parallels ...
Aug 07, Colombo: Sri Lanka's Petroleum Industries Minister Susil Premajayantha has instructed the Ministry Secretary R.H.S. Samaratunge take necessary measures to conduct an investigation into the emergency fuel supplies purchased by the petroleum authority, Ceylon Petroleum Corporation (CPC).
With more private vehicles being hit by the country’s latest fuel scam and the government deciding to again blacklist the offending company — Vitol — until investigations are completed and two foreign laboratory test reports are received, the company in a statement
Aug 06, Colombo: A railway union of Sri Lanka says it will take stern trade action if the government fails to recover the losses from the damage to the trains caused by the contaminated diesel stock.
Finlay Tea Estates Lanka (Pvt) Ltd., which manages Hapugastenne Plantations PLC, was awarded the prestigious National Plantation Award 2012 for Forestry Management, Environmental Friendliness and Self-Sufficiency in Energy’ of the Regional Plantation Company sector by President Mahinda Rajapaksa recently at a ceremony held at the Temple Trees. The Shawlands Estate Tea Factory in Lunugala was...
Reuters: State-owned Ceylon Petroleum Corporation (CPC) on Saturday took Vitol, the world’s largest oil trading firm, off its supplier list, believing diesel supplied by the firm had damaged vehicles. Vitol rejected the allegation and said the cargo in question was tested in accordance with international standards by CPC inspectors before it was discharged. Petroleum Minister ...
Aug 05, Colombo: The Singapore-based fuel supplier suspended by Sri Lanka for allegedly supplying substandard diesel stocks to the country has rejected the allegation.
Aug 04, Colombo: The director board of Sri Lanka's petroleum authority, Ceylon Petroleum Corporation (CPC), today decided to suspend the tender of a Singaporean company that supplied substandard fuel to the CPC.
Trade unions of railway, port and transport sectors in Sri Lanka have slammed the authorities for the sale of substandard fuel in the country. General Secretary of the All Ceylon Railway Employees’ Common Services Union, Sumathipala Manawadu said that about 36 train engines have been affected
Can one imagine how long it took a ship to arrive from London to Colombo five centuries back? Now it takes only a couple days to courier a special package to any part of the world and a full file of any amount of documents could be sent to any part of the world in ...
The Petroleum Industries Ministry has initiated a program to upgrade the country’s only oil refinery at Sapugaskanda to fit European standards. The Ministry has taken the decision to upgrade the laboratories of the Ceylon Petroleum Corporation and Ceylon Petroleum Storage Terminal Ltd with the support of an agency meeting international standards. The Ministry said most ...
Aug 03, Colombo: Trade unions of railway, port and transport sectors in Sri Lanka have slammed the authorities for the sale of substandard fuel in the country.
Heavy challenges faced by currency depreciation and increase in fuel, energy and other costs Nestlé Lanka PLC, Sri Lanka’s leading nutrition, health and wellness company has recorded a good revenue growth of 13.5% (YoY) for the six months ending 30 June 2012, posting a revenue of Rs
Aug 02, Colombo: Private bus operators in Sri Lanka have called on the government to appoint an independent committee to inspect the issue of substandard fuel that had allegedly been sold in the local market.
The 2012 Suzuki Swift Sport first appeared at the Australian Motor Show in concept form back in July 2011. Fast forward 12 months and the hatch fans can now buy the production version in Colombo. The road going version of the Swift Sport has changed little since the concept appeared. While it looks a little ...
A three-member Committee has been appointed to look into complaints on mechanical glitches that had surfaced due to the use of substandard fuel.The Petroleum Industries Ministry said that complaints had been received that certain vehicles had experienced mechanical faults due to the use of diesel. The Ceylon Petroleum Corporation has taken action to dispatch related ...
Sri Lanka has decided to stop operating nearly 50% of its countrywide street lamps in a bid to save energy amidst a growing energy crisis. This means, out of the existing 800,000 street lamps only 400,000 will be switched on during the night hours. The new measure will come into effect starting from tomorrow. Ministry of Power and ...
Sri Lanka Shippers Council says unrealistic payments which need to be made during transactions have become a real burden on the importers and exporters of the country. This situation, the newly elected President of the Shippers Council Dinesh De Silva says has resulted in the cost of imports and exports going up. Silva also points out that ...
Indian Oil Corporation (IOC) will set up a refinery in Sri Lanka with an investment up to US$ 3.6 billion, a report in Business Standard said. IOC, which already has a venture in Sri Lanka through its subsidiary Lanka IOC, operates 10 refineries in India and the one in Sri Lanka will be its first ...
Weak rupee, price hikes, drought driving inflation-analysts CB expects easing in inflation on Govt. price cuts Reuters: Sri Lanka’s annual inflation rate may have accelerated to a 42-month high in July as a drought pushed up local food prices and a weaker rupee aggravated import bills. Annual inflation is expected to have accelerated to 9.4%in ...
The Indian Oil Corporation will set up its first refinery outside India with an investment of up to Rs 20,000 crore (Rs 200 billion) in Sri Lanka, Indian media reported. IOC operates 10 refineries in India and the capacity of its Sri Lankan refinery is expected to be 5-9 mtpa (million tonnes per annum), the rediff.com website reported. "We have done the analysis and have first-hand information...
Diesel & Motor Engineering PLC (DIMO) together with TATA Motors India recently introduced the latest range of TATA Small Commercial Vehicles (SCV) to Sri Lankan market. The SCV range comprises of the DIMO Batti (promoted in India as Tata Ace Zip), TATA Super ACE (earlier known as DIMO Lokka ) and DIMO 207 DI BULLET. ...
of fuel are being produced daily. Fuel including ...
of fuel are being produced daily. Fuel including ...