Category: Industry
Sri Lanka gets direct cargo link between Colombo and Yangon
Mar 24, 2016 (LBO) – Sri Lanka’s Continental Shipping Lines’ “Pathien Star” made it’s inaugural call at the Jaya Container Terminal in Colombo yesterday. The vessel is scheduled to leave for Port Yangon of Myanmar soon. “This is the first time that a direct cargo link has been established between Colombo and Yangon opening a new […]
Sri Lanka Exporters hail Commonwealth over assistance for proposed EXIM Bank
Mar 24, 2016 (LBO) – Sri Lanka’s Exporters Association (EASL) has welcomes the recent announcement that the Commonwealth Secretariat has offered technical assistance to set up the proposed EXIM Bank, a statement said. “The EASL believes that the support, advice and intervention that becomes possible by a Bank dedicated to Exports, will be the fillip […]
Sri Lanka to buy 3 private power plants: Power Minister
Mar 23, 2016 (LBO) – Sri Lanka’s Power Ministry has decided to buy three private power stations as an additional measure to avoid future power cuts. Accordingly, ACE power generation Matara (25 MW), ACE power generation Embilipitiya (100 MW) and Heladhanavi Power Station Puttalam (100 MW) will be acquired by the government. The power purchase […]
IFC, Canada to invest USD15 mn in Richard Pieris for green retail growth
Mar 23, 2016 (LBO) — IFC, a member of the World Bank Group, together with the IFC-Canada Climate Change Program will invest 15 million dollars in Sri Lankan retail chain Richard Pieris Distributors Limited to help the company expand its retail network, support job creation, and develop local supply chains, a statement said. Funding will […]
Royal Turf Club concludes first race with fashion at Nuwara Eliya
Amidst accolades, excitement, clean racing and all the fun, thrills and spills of a racing carnival, set in the picturesque environs of Nuwara Eliya or ‘Little ‘England ‘ as it is fondly termed, the newly formed Royal Turf Club concluded its first race for the season ‘At The Highest Level’ ! Over 35 horses were […]
CA Sri Lanka launches new Integrated Reporting Council
In a fresh initiative aimed at further enhancing the best practices of financial reporting amongst corporates in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched the Integrated Reporting Council (IR Council), comprising of professionals from the accounting and non-accounting sectors, regulators and academics. The inaugural meeting of the IR […]
Lionel Messi Joins the Huawei Family of Global Brand Ambassadors
Huawei, global leading company in ICT and telecommunication solutions, today announces Lionel Messi’s appointment as the latest Global Brand Ambassador to the company. The partnership with Lionel Messi showcases the brand’s alignment with people and brands that demonstrate, and strive towards its shared value of connecting greatness. Challenges test our desire to achieve what we […]
Sri Lanka’s power regulator eyes electricity tariff revision
Mar 21, 2016 (LBO) – Sri Lanka’s power regulator is looking at tariff revision as one option to meet the revenue requirement of the Ceylon Electricity Board (CEB). Director General of the Public Utilities Commission of Sri Lanka (PUCSL) Damitha Kumarasinghe told Lanka Business Online that the Commission has finalized the revenue requirement of the […]
Sri Lanka reports another fire at CEB substation
Mar 18, 2016 (LBO) – A fire has broken out at the Ceylon Electricity Board grid substation in Kotugoda, in the island’s Western Province a short while ago, CEB sources told Lanka Business Online. The cause of the fire is yet not known. The fire brigade has been deployed to fight the fire. Power outages […]
PUCSL seeks explanation from Sri Lanka’s power utility for recent cuts
Mar 18, 2016 (LBO) – Sri Lanka’s Public Utitilies Commission (PUCSL) has called on the Ceylon Electricity Board (CEB) to give valid reasons for recent island-wide power failures and recommended measures to prevent a repetition, a statement said. “It is the responsibility of the transmission licensee, the CEB to maintain an uninterrupted power supply throughout […]
Investment Summit: Course adjustment on Bank consolidation, says CB Governor
Singapore, Mar 18, 2016 (LBO) – The path towards Sri Lanka’s bank conslidation is being reviewed, and a course correction is taking place, Central Bank Governor Arjuna Mahendran told the Sri Lanka Investment Summit, organized by FinanceAsia, this week. “The principle concern of the current government is that that consolidation was predicated too much on […]
LAUGFS Lubricants expands to serve the Northern Province
LAUGFS Lubricants (Pvt) Ltd, the first Sri Lankan company to enter the local lubricant industry back in 2008, has further expanded its product portfolio to the Northern Province. The appointment of distributorship for the Anuradhapura region took place recently with the presence of company senior officials. This is also expected to serve customers in the […]