LSE to shift Bangalore research facility to Sri Lanka

Mar 09, 2016 (LBO) – The London Stock Exchange (LSE) plans to shift its Bangalore-based research facility to Sri Lanka, a senior official said.

“They are shifting from Bangalore to Sri Lanka, and usually it is the reverse that happens. This is a major win for Sri Lanka,” Ranjith Fernando, chairman of the Urban Development Authority said, speaking at the Sri Lanka Investment and Business Conclave.

“The LSE has taken land from one of our industrial parks, where technological developments are going to take place. All IT oriented developments will be based from here,” he said.

From an investor’s point of view this is a good sign, he said.

Sri Lanka is targeting foreign direct investments to grow to five billion US dollars in the next three years.