Industry

Fitch affirms Sri Lanka’s Abans at BBB+(lka); outlook stable

Fitch Ratings has affirmed Sri Lanka-based retailer Abans PLC’s (Abans) National Long-Term Rating at ‘BBB+(lka)’ with a Stable outlook. Fitch …

Sri Lanka Hambantota Port JV to be operational from November

Sep 25, 2017 (LBO) – Sri Lanka is expecting to commence operations of the Hambantota Port joint venture from November, Chairman of Ports Authority Parakrama …

Harry Jayawardena reappointed to Distilleries as Melstacorp nominee

Sep 22, 2017 (LBO) – Sri Lanka’s business tycoon Harry Jayawardena has been reappointed to the board of Distilleries as a nominee of Melstacorp. …

Access Engineering PLC Re-draws the Capital City’s Skyline with Capital Heights

(PRESS RELEASE) – Construction of the 242-unit ‘Capital Heights’ luxury apartment project commenced on 18th September 2017,when Blue Star Realties …

Saudi Arabia lifts VoIP ban on FaceTime, Snapchat, Skype

Sep 21, 2017 (LBO) – Saudi Arabia has lifted the ban on the Voice Over Internet Protocol (VoIP) applications that meet their regulatory requirements, …

PUCSL warns of shortcomings in Sri Lanka’s power supply : Report

Sept 20, 2017 (LBO) – Public Utilities Commission of Sri Lanka (PUCSL), the island’s power regulator has warned of serious consequences to be …

Sri Lanka seeks to limit importation of busses, three-wheelers

Sep 19, 2017 (LBO) – Transport Ministry is currently looking at options to limit the importation of high floor busses and three-wheelers to Sri Lanka. …

Office spaces in Sri Lanka: Things to Know

Sri Lanka’s exceptional economic growth over the past decade has attracted both local and foreign businesses to expand their operations within the South …

Fitch rates Sampath Bank’s Basel III compliant sub debt A(lka)(EXP)

Sep 19, 2017 (LBO) – Fitch Ratings has assigned Sri Lanka Sampath Bank’s proposed Basel III compliant subordinated debentures an expected National …

Sri Lanka’s appointment at UNWTO will help reiterate it as able tourist destination: Minister

Sept 19, 2017 (LBO) – Sri Lanka’s Tourism Minister John Amaratunga said his appointment as a Vice Presidential representative of Asia for the …

New US Trade Rep assures no major changes in trade policy on Sri Lanka

Sep 18, 2017 (LBO) – The United States has stressed that there shall be no major change in its trade policy towards Sri Lanka in the aftermath of its new …

Advantis projects leverages expertise to improve Sri Lanka’s transport infrastructure

(PRESS RELEASE) – Transportation has always played an important role in the prosperity of a nation. As Sri Lanka takes its first steps onto the world …

REITs holds potential to drive growth, job creation and FDI in Sri Lanka : JLL

Sept 18, 2017 (LBO) – Jones Lang LaSalle (JLL) has called for a re-evaluation of the regulatory and legal mechanisms around Real Estate Investment …

Palihapitiya raises USD600 mln in IPO for tech investments

Sept 15, 2017 (LBO) – Chamath Palihapitiya, founder of the venture-capital firm Social Capital, has launched a new “blank-check” company in …

British tourist killed by crocodile near Arugam Bay

Sept 15, 2017 (LBO) – A british journalist has been killed by a crocodile at a lagoon in Sri Lanka during a holiday with friends, the Telegraph reported. …

Sri Lankan delegation visits Vietnam for trade opportunities

Sept 15, 2017 (LBO) – A 12-member Sri Lankan delegation has visited Vietnam this month to explore trade opportunities and establish long-term connections …