Category: Industry
Fitch warns rising exposure to microfinance by non-bank financial institutions
Apr 01, 2016 (LBO) – Rising exposure to microfinance at Sri Lankan non-bank financial institutions (NBFIs) could pose a risk to their credit profiles, says Fitch Ratings. The exposure among Fitch-rated NBFIs stood at just 4 percent of total loans of these entities as recently as March 2014. But this had increased to 27 percent […]
Sri Lanka’s SAGT bags 4th place in world terminal productivity rankings
Mar 31, 2016 (LBO) – Sri Lanka’s first private container terminal operator South Asia Gateway Terminals has been ranked as the 4th in the world for Terminal Productivity and number 1 in South Asia by the Journal of Commerce, USA. The Ports Authority said SAGT’s berth productivity performance of 113 container moves per hour and an […]
Chatbots and artificial intelligence is our future, says Microsoft CEO
March 31, 2016 (LBO) – The worlds future will be chatbots, machine learning and artificial intelligence, Microsoft Chief Executive, Satya Nadella said kicking off the company’s Build developers conference. “Bots are the new apps,” Nadella was quoted as saying on USA Today during keynote address at the Microsoft BUILD developers conference in San Francisco. People-to-people conversations, people-to-digital assistants, […]
Microimage takes HR into a Digital Era at HCM 2016
Mar 31, 2016 (LBO) – “Disrupt or be disrupted” was the key message delivered by Harsha Purasinghe at a Microimage HCM event, held on Wednesday. He urged his audience of industry CEOs and HR Managers to face challenges that are changing the way businesses must operate, at which point he unveiled the groundbreaking Microimage HCM […]
Foxconn buys controlling stake in Sharp Corporation
Mar 31, 2016 (LBO) – Foxconn Technology Group, a Taiwanese multinational electronics manufacturing company, yesterday acquired a controlling stake in Japanese multinational Sharp Corporation. The 389 billion yen (3.4 billion dollar) deal will give Foxconn Group a 66 percent stake in Sharp and this will be the largest acquisition by a foreign company in Japan’s […]
Sri Lanka technology pioneers to speak at “LBR LBO Enterprise Summit 2016”
Mar 31, 2016 (LBO) – Despite being a developing country, Sri Lanka has created a number of technology leaders and innovators of international repute. When we consider that basic infrastructure is lacking in some parts of the island, this is a contradiction. And yet, Sri Lankans are familiar with this contradiction. Pioneers such as Kris […]
Sri Lanka needs 6 months to fix issues before signing ETCA: Professionals
Mar 30, 2016 (LBO) – Sri Lanka should work towards a national trade policy within which ETCA should be framed with all required regulatory framework and national interests in place, Sri Lanka’s Engineers Association said. Engineer Nanda Gunawardena speaking at a recent seminar asked the government to delay the signing of ETCA until a proper […]
Virtusa, Hitachi enters into strategic partnership to offer disruptive business solutions
Mar 30, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company and Hitachi Limited announced yesterday that they have agreed on a global strategic partnership. Hitachi and Virtusa will leverage their core competencies, industry IT solutions and leadership to provide joint services to their global clients and the broader market. They […]
Cost Management Maturity Model introduced to Sri Lanka
Mar 30, 2016 (LBO) – The first ever ‘Total Cost Management Maturity Model’ practice has been introduced to Sri Lanka by the Confederation of Indian Industry’s Total Cost Management (TCM) division. The signing of the MOU between Institute of Certified Management Accountants of Sri Lanka (CMA) and TCM was held recently at a cost accountants’ […]
Ceylon Electricity Board violates license conditions, says PUCSL
Mar 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission, has directed the CEB to explain the reasons for the recent violation of license conditions. This violation referring to the notice on ‘Electricity Interruptions’ appeared on the CEB website on 28 March 2016. However, in terms of the Transmission and Bulk Supply License, […]
Toyota Lanka unveils future technology at ‘Future World’ exhibition
Toyota Lanka announced a pioneering Future World Exhibition on Toyota Automotive Technology held on 29th and 30th March 2016 at the Sri Lanka Exhibition & Convention Centre (SLECC). The first-ever comprehensive motor technology exhibition of its kind to be held in the country, Future World is open to all existing, potential and future customers and […]
Ceylon Chamber and Swiss-Asian Chamber of Commerce in MOU
Mar 29, 2016 (LBO) – The Ceylon Chamber of Commerce and Zurich based Swiss-Asian Chamber of Commerce signed an MOU recently to promote trade and investments between Sri Lanka and Switzerland. The signing took place with the participation of CCC Chairman Samantha Ranatunga and Mark Dangel, chairman, Sri Lanka Committee of the Swiss-Asian Chamber of […]