Category: Featured
Huawei CEO and Founder expects revenue to touch USD125Bn in 2019
Apr 01, 2019 (LBO) – Ren Zhengfei, CEO and Founder of Huawei, recently said that 2019 could be a difficult year for Huawei, and however the company, is targeting US 125 billion dollars in revenue. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one of the rotating chairmen at the technology […]
Construction of Sri Lanka’s first Cold Storage complex for perishables inaugurated
Mar 30, 2019 (LBO) – The construction of Sri Lanka’s first Temperature and Humidity Controlled Warehouse Complex for Perishables was initiated today by the Economic Reforms Minister Harsha de Silva and the High Commissioner of India, Tharanjith Singh Sandu at the adjoining land of Dambulla Economic Centre. The proposed Cold Storage complex with a capacity of 5,000 […]
Kottawa-Makumbura multimodal transport center opens 31st March
Mar 29, 2019 (LBO) – The Kottawa-Makumbura multimodal transport center, the first of its kind in Sri Lanka providing seamless access for passengers to connect among transport modes is to be declared open on March 31, 2019. It will be opened by President Maithripala Sirisena, with the participation of Prime Minister Ranil Wickramasinghe, […]
How will Brexit impact UK-SL trade: RIU report
Mar 29. 2019 (LBO) – The United Kingdom is one of the major trading partners of Sri Lanka, amounting to over 10 percent of the total annual trade. The trade between two countries has been on the upsurge for the last 18 years. In this context, the GSP+ scheme under which Sri Lanka observes a great […]
“Apartment sales slowing due to relatively lesser cash flows for these investments” HNB CEO
Mar 27, 2019 (LBO) – Successful real estate sector outcomes will be dependent upon sound strategy that puts into place foreign investment for new projects, a senior banker said. “If the necessary national development does takes place and if foreign investment and new projects take off and GDP grows to the expected levels, I think […]
OBG Sri Lanka report:Looks at steps being taken to encourage innovation and boost export earnings to USD20Bn in 2019
Mar 27, 2019 (LBO) – A new report from research and consultancy firm Oxford Business Group (OBG) shines a spotlight on Sri Lanka’s wide-ranging plan to achieve upper-middle-income status. The Report: Sri Lanka 2019 looks in detail at the steps being taken to encourage innovation across the manufacturing industry as part of the national strategy to […]
‘s Oceanpick first in South Asia to earn certification for offshore farming
Mar 27, 2019 (LBO) – Oceanpick (Pvt) Ltd., has been awarded the Best Aquaculture Practices (BAP) certification, making Sri Lanka a pioneer in South Asia -and only the 34th country in the world- with a BAP-certified facility. Oceanpick is South Asia’s first ever commercial-scale offshore oceanic farm for finfish, and is currently the only offshore […]
SLTDA promises to issue renewal licenses in one day
Mar 26, 2019 (LBO) – The Sri Lanka Tourism Development Authority (SLTDA) is now fully geared to issue renewals for accommodation and service providers in one day when the relevant documents for each category are submitted.By next week, SLTDA will publish press advertisements in all 3 languages to create awareness among all stakeholders on what […]
‘s Hambantota
Mar 25, 2019 (LBO) – Inaugurating the construction work of the US 3.85 billion dollar oil refinery project and the cement manufacturing plant in Hambantota, Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts. “These two projects are two mega investment projects that could be considered […]
Ceylon Chamber of Commerce celebrating 180 years serving the business community
Mar 25, 2019 (LBO) – The Ceylon Chamber of Commerce (CCC) was founded on 25 March 1893, for the purpose of best promoting the interests of commerce. This was among the very first group of chambers established in Asia.The Chamber has grown from having 26 memberships at its initial stages, to just over 600 today […]
Sri Lanka to discuss draft national policy on LNG
Mar 22, 2019 (LBO) – The Ministry of Highways and Road Development together with Petroleum Resources Development has developed the draft national policy on natural gas with a view to establish and develop the natural gas industry in Sri Lanka. With the view of further improvement and development of the policy, the Public Utilities Commission […]
‘s EXIM Bank for Central Expressway
Mar 22, 2019 (LBO) – The Export- Import Bank of China (EXIM Bank) has agreed to provide a concessional loan amounting to US 989 million dollars covering 85 percent of the contract price, for the Central Expressway Project – Section 1 from Kadawatha to Meerigama. The loan is the single largest loan approved by the […]