Category: Featured
‘s Integrated Business Solutions
Aug 03, 2018 (LBO) – Fintek Managed Solutions (Pvt) Limited has announced its acquisition of the Integrated Business Solutions (IBS) unit of Brown and Company PLC. With this acquisition Fintek consolidates its role as the authorized distributor of Sharp office automation products and solutions in Sri Lanka. In a previous release detailing its role as […]
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) – Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, thereby contributing to a high and sustainable growth trajectory of the island economy. “In arriving at its decision, the Board carefully considered the current and expected domestic […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
Huawei seizes second place in global smartphone market in Q2
Aug 02, 2018 (LBO) – Huawei, a fast growing smartphone brand has seized second position in the global smartphone market with a total share of 15.8 percent in the second quarter of 2018 according IDC. Huawei invests into research and development (R&D) and over 10 percent of revenue is invested in R&D every year. According to Huawei’s […]
‘s Belluna launches leisure property in Galle
Aug 02, 2018 (LBO) – Sri Lanka’s Asia Leisure,in partnership with Belluna Co. Ltd, Japan opened its sixth leisure property ‘Le Grand’ in Galle recently. “Asia Leisure is one of the most widely recognized resort brands in the Country and together with Belluna Co. Ltd, Japan we are pleased to add this hotel to our family,” […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]
Susantha Ratnayake retires from Ceylon Tobacco Company
Aug 01, 2018 (LBO) – Chairman of the Ceylon Tobacco Company, Susantha Ratnayake has retired from the company with effect from yesterday after the completion of his term of five years as the Chairman and six years as a Non-Executive Independent Director.“During his tenure as a Director and Chairman of the Board, the Company as well […]
‘s Finance Minister raises taxes on small vehicles
Aug 01, 2018 (LBO) – Sri Lanka’s Finance Minister has signed the gazette notification to amend the excise duties of vehicles below 1000cc category with effect from 01 August 2018, the Finance Ministry said.Accordingly, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will […]
Sri Lanka ranks first out of 76 countries in early initiation of breastfeeding: UNICEF
July 31, 2018 (LBO) – Sri Lanka has been ranked number one out of 76 countries in the UNICEF’s latest ranking of early initiation of breastfeeding. The report titled ‘Capture the Moment’ released today shows that 90.3 percent of Sri Lanka’s newborn babies are subjected to early initiation of breastfeeding. According to the report, nearly […]
Sri Lanka vehicle population grew by 7-pct in 2017; import expenditure up 5-pct
July 31, 2018 (LBO) – Sri Lanka’s motor vehicle population grew by 7 percent to 7.2 million in last year with import expenditure on motor vehicles also showing 5 percent growth, the annual report on the country’s motor vehicle market published by the Ceylon Chamber showed. According to the report, the year 2017 saw a […]
Sri Lanka launch tourist-friendly Tuk Tuk service
Jul 31, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe launched the country’s first ever tourist-friendly Tuk Tuk service at Galle Face Green, Monday. The project is implemented under the Budget proposals presented by Finance and Media Minister Mangala Samaraweera for the year 2018. Ministers Mangala Samaraweera, Japanese Ambassador in Sri Lanka Kenichi Suganuma, […]
Damro’s opens Rs 12.5Bn Marino Mall and hotel in Colombo
Jul 31, 2018 (LBO) – Damro Group opened the 12.5 billion rupee Marino Mall and Beach Hotel in Colombo 3, adding 289 star class rooms to Colombo’s hotel inventory, Monday. “We have invested over Rs 12.5 billion to build and open this hotel with 289 rooms including two suites,” Damitha Ramanayake, chairman and founder of Damro Group […]