Author: Gayan Chandrasekara
Sri Lanka currency adjustments terrible: Nishan de Mel
Dec 10, 2015 (LBO) – Sri Lanka’s currency adjustments which are poorly timed affect business planning and confidence of international community while having other effects, a senior researcher said.Nishan de Mel, head of research at Verite said that in Sri Lanka, the strength of rupee is incorrectly tied up with economic virility. “We know that […]
Sri Lanka customs invites rights holders to fight counterfeits
Dec 04, 2015 (LBO) – Sri Lanka customs invited right holders of products to come forward to help authorities to stop importing counterfeit goods to Sri Lanka.Ashorf Samzudeen, deputy superintendent of Consumer Protection Unit, Sri Lanka Customs said they can fight against counterfeit and piracy only with the corporation of right holders, law enforcement agencies […]
‘Sex and Love Tour’ of Enrique Iglesias in Sri Lanka
Dec 02, 2015 (LBO) – Award winning global superstar and Latin music idol Enrique Iglesias will be performing ‘Sex and Love Tour’ LIVE in concert in Colombo on 20 December at CR&FC Grounds. This tour series is the twelfth concert tour by the Spanish recording artist under his tenth studio album, ‘Sex and Love’. Beginning […]
Railway unions calls President to stop importing locomotives from India
Nov 30, 2015 (LBO) – Sri Lanka’s Railway Trade Union Alliance has urged the President and Prime Minister to stop importing what they called substandard locomotives from India. The alliance said that two separate cabinet papers are to be submitted to the cabinet seeking approval to import locomotives, power sets, and railway carriages as well […]
Govt to raise Rs20bn from new excise duty for motor cars
Nov 20, 2015 (LBO) – Sri Lanka’s government is to introduce a unit rate of excise duty for the vehicles on the basis of cubic centimeters (cc) that generate 20 billion rupees for government, Finance Minister told Parliament Friday.A new valuation system was introduced recently taking full option manufactures price as the tax base, due […]
Google makes traffic congestion maps available for Sri Lanka
Nov 19, 2015 (LBO) – Google Maps has activated traffic information for Sri Lanka with useful congestion data for Colombo and other locations, an IT observer said. The maps are available for any location where there is mobile data and slow-moving traffic, Malinthe Samarakoon, a developer for yamu. lk said. Available on Google maps for […]
Sri Lanka’s MTD launches Walkers Colombo Shipyard
Nov 18, 2015 (LBO) – Sri Lanka’s listed MTD Walkers has acquired a ship repair and ship building entity to expand its existing presence in the marine engineering sector.With this acquisition MTD Walkers has access to Mutwal harbor in Colombo which spans across 3.5 acres that will be utilized for ship repair and ship building. […]
JVP criticizes Ranil for inviting ‘The Man Who Broke the Bank of England’
Nov 09, 2015 (LBO) – The Marxist JVP on Monday criticized Prime Minister Ranil Wickremesinghe for inviting Hungarian-born American businessman George Soros to Sri Lanka, one of the 30 richest people in the world.Presenting third-generation economic reforms in Parliament Wickremesinghe revealed that world famous author and billionaire investor George Soros will be participating in an […]
Virtusa to provide IT services to Citigroup after acquiring Polaris for USD270mn
Nov 07, 2015 (LBO) – Global IT outsourcing company, Virtusa Corporation announced that it is to acquire a majority interest in Polaris Consulting, a global IT solutions provider in financial services for 270 million US dollars.The transaction includes both the 51. 7 percent majority interest and an unconditional mandatory open offer to purchase up to […]
Sri Lankan born economist predicts global recession next year
Nov 06, 2015 (LBO) – Sri Lankan-born economist Howard Nicholas on Thursday warned that the world will have to face a recession by next year. Speaking at the 36th National Conference of Chartered Accountants in Colombo Nicholas, who is a senior lecturer of Rotterdam Erasmus University, argued the world is now near the bottom of […]
Infrastructure: Colombo needs innovation to be globally competitive, says IT Innovator
Nov 05, 2015 (LBO) – Sri Lanka needs innovation to engage Colombo with the rest of the world and to transform legacy assets through the digital medium, an IT innovator and self-labelled urban policy nerd said.J T Singh, founder of a design-centric problem solving team at J T Singh Labs, said a key factor in […]
Infrastructure: No land shortage in Colombo, a transformation underway, says DG UDA
Nov 04, 2015 (LBO) – Sri Lanka’s commercial capital faces a core problem of under-utilization of land and there is no land shortage, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. Colombo has 65,000 slum and shanty houses occupying 900 acres of real estate in Colombo, he said. […]