Category: Featured
Suspension of melodious SriLankan pilot, too little too late
Aug 22, 2016 (LBO) – SriLankan Airlines, which usually gets in the spotlight for allegations of cronyism, has done a turnaround by suspending a pilot who failed a breathalyzer test. This may be a case of too little too late for the debt-laden airline. Sri Lankan flight UL 554 out of Frankfurt Germany on the […]
More Sri Lanka IPOs to come by end 2016: CSE official
Aug 19, 2016 (LBO) – Sri Lanka will see some new IPOs on the Colombo Stock Exchange by the end of 2016 and also expect some non strategic state enterprises to list, a senior official said. “There are few IPOs in the pipeline,” Rajeeva Bandaranaike, the chief executive of the CSE, said. “We are waiting […]
Sri Lanka tourist arrivals hit all-time high in July 2016
Aug 19, 2016 (LBO) – Tourist arrivals to Sri Lanka hit an all-time high in July this year, statistics from Sri Lanka Tourism Development Authority showed. The number of arrivals which clocked 209,351 represented a growth of 19.1 percent compared to July last year and is the highest number recorded in a single month since […]
Sri Lanka inks deal for ICT cooperation with Huawei
Aug 18, 2016 (LBO) – Sri Lanka’s Ministry of Telecommunication and Digital Infrastructure and Huawei have signed a Memorandum of Understanding on information communication technology cooperation in China recently. “We will accelerate the local ICT talent development and this year, we will also establish a Customer Solution Integration and Innovation Center in Sri Lanka.,” Li […]
Sri Lanka wants 20 pct of consumers to produce solar power: Cabinet
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved promoting solar power on the roofs of homes so that at least 20 percent of consumers produce electricity. “Currently 50 percent of electricity production in Sri Lanka is done by renewable energy sources and it is expected to increase this percentage to 60 percent in […]
Opinion: Sampur Coal vs LNG – backward looking policy on display
By Lancelot The Sampur power plant has been a topic of much contention over the last few years. Now there is a school of thought that the plant should be fueled by LNG, as opposed to Coal. Many analysts, and also top level corporate titans, see this as a problem as the project timeline will […]
China to set up canned fish, gem and jewelry firms in Hambantota
Aug 16, 2016 (LBO) – Chinese firms have shown keen interest in setting up tinned fish, and gem and jewellery enterprises in a proposed special industrial zone close to Sri Lanka’s Hambantota port. “A Sri Lankan delegation led by Prime Minister Ranil Wickremesinghe has held talks with China’s Chongqing Foreign Trade and Economic Cooperation Company […]
LSE business division to open HQ in Sri Lanka soon
Aug 15, 2016 (LBO) – London Stock Exchange Group’s Business Services division (LSEG BSL) will soon open its new headquarters in the historic Expert City precinct, formerly known as Tripoli Market, in Colombo. The new Business Services division in Sri Lanka will provide support to the group’s operating entities across the globe, the group said in […]
Sri Lanka to Host Asia Hotel and Tourism Investment Conference
Aug 15, 2016 (LBO) – Sri Lanka, one of the top two emerging hotel and resort markets in Asia, is to host the first Asia Hotel and Tourism Investment Conference (AHTIC), a top-level gathering of international investors, business leaders, government ministers and officials. President Maithripala Sirisena is supporting the conference as its patron. The AHTIC […]
SLT gets full landing status for SEA-ME-WE 5 in Matara
Aug 12, 2016 (LBO) – Telecommunications and ICT solutions provider, Sri Lanka Telecom PLC (SLT), says it has gained full landing status of SMW5 Cable Station in Matara. With this, Sri Lanka can offer the region “state-of-the-art global services provided through multiple international undersea cable systems,” SLT said in a statement. SLT’s International Backhaul Network […]
‘l Airlines
Aug 11, 2016 (LBO) – SriLankan Airlines has entered into a “wet lease” agreement with Pakistan International Airlines (PIA), owned by the government of Pakistan, whereby an Airbus A330-300 aircraft will be leased by SriLankan to PIA on Aircraft Crew Maintenance & Insurance (ACMI) basis. This means that the aircraft will remain under SriLankan registry and […]
Sri Lanka cabinet approves purchase of fighter aircraft
Aug 11, 2016 (LBO) – Sri Lanka’s cabinet has approved the purchase of new fighter aircraft following a proposal by President Maithripala Sirisena who is also the defense minister, reports said. “The fighter aircrafts of the Sri Lanka Air Force have been aging and it is required to maintain them updated due to the importance […]