Category: Industry
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Dec 04, 2015 (LBO) – Continued GDP growth is driving the stable outlook for Sri Lanka’s banking system, Moody’s Investors Service said. “While seeing some slowdown compared to the growth rates seen in 2013-14, GDP growth in Sri Lanka should remain healthy at 6.7% over 2015-16. And an accommodative monetary policy should support this growth outlook,” says Srikanth Vadlamani, […]
Sri Lanka’s CSE to see infrastructure bonds and REITs soon
Dec 04, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) chief said that new products in the form of infrastructure bonds and REIT’s will be introduced to broaden and add depth to the islands debt markets.“New products need be brought in, Sri Lanka’s debt market needs to be broadened and depth needs to be […]
Rs2.5bn Mulberry residence for young professionals
Dec 04, 2015 (LBO) – Sri Lanka Steradian Capital, a privately owned real estate development and consultancy business, unveiled plans for an apartment complex with an investment of 2.5 billion rupees targeting middle-income young professionals. “The vision for the project comes from our desire to improve the affordable and professional housing sector in Sri Lanka, […]
Sri Lanka tourist arrivals up 20.4 pct in November 2015
Dec 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 20.4 percent to 144,147 in the month of November 2015 from a year earlier, driven by China, India, United Kingdom and Germany, data from the state tourism promotion office showed. In the eleven months of 2015 arrivals were up 18.1 percent to 1,592,266. South Asian […]
Sri Lanka customs invites rights holders to fight counterfeits
Dec 04, 2015 (LBO) – Sri Lanka customs invited right holders of products to come forward to help authorities to stop importing counterfeit goods to Sri Lanka.Ashorf Samzudeen, deputy superintendent of Consumer Protection Unit, Sri Lanka Customs said they can fight against counterfeit and piracy only with the corporation of right holders, law enforcement agencies […]
SriLankan cancels more flights between Colombo and Chennai
Dec 03, 2015 (LBO) – SriLankan Airlines has cancelled fourteen more flights between Colombo and Chennai following the extension of the Chennai International Airport closure.Accordingly, the flights UL 128, UL 129, UL 123, UL 124 of December 3, UL 125, UL 126, UL 121, UL 122, UL 127, UL 128, UL 123, UL 124 of […]
Sri Lanka eyes international events to attract tourists: Tourism Chairman
Dec 03, 2015 (LBO) – Sri Lanka Tourism is currently looking at international level entertainment and sports events to attract more tourists to the island nation, Tourism Development Authority said.The 2016 budget granted a 50 percent tax holiday for 5 years for companies incorporated specifically to engage in conferencing and exhibition type of activities.“We are […]
‘s Malindo Air to commence low-cost flights to Colombo
Dec 02, 2015 (LBO) – Malaysian low-cost carrier Malindo Air plans to start services from Kuala Lumpur (Malaysia) to Colombo (Sri Lanka) and Ho Chi Minh City (Vietnam) in December. The carrier, a joint venture between Indonesian Lion Air and Malaysia’s National Aerospace and Defense Industries, will offer daily services using Boeing 737 aircraft and […]
Sri Lanka aims for high end tourists under Megapolis plan
Dec 02, 2015 (LBO) – Sri Lanka will streamline its tourist industry and move towards attracting high end visitors through the Megapolis and Western Province development programme, Minister Champika Ranawaka said.“While developing IT led innovation towns from Homagama to Malambe under the Megapolis project we have also chosen Aluthgama to be converted into a high-end […]
Sri Lanka stocks close down 0.20-pct
Dec 01, 2015 (LBO) – Sri Lankan stocks closed down at 0.20 percent for the fifth straight day on Tuesday on sustained selling pressure triggered by weak domestic cues, brokers said. The Colombo benchmark All Share Price Index closed down 13.96 points at 6,895.19 down 0.20 percent. S&P SL20 closed 6.35 points lower at 3,651.69 down 0.17 […]
Embark’s new Christmas concept – product range a call to ‘Love the Fashion, Feel the Passion’
This season, Embark, the unique fashion label with a cause, has promised ‘a shopping experience from the heart’ with a refreshingly sincere Christmas campaign involving its people, and a product range that reflects the compassion and commitment that the programme is all about.Faces from Embark’s very own team, along with passionate individuals who are committed to make a […]
Oman Air celebrates six years of successful operations in Sri Lanka
The national airline of the Sultanate of Oman, Oman Air recently celebrated six years of successful operations in Sri Lanka. Over the years, Oman Air has experienced momentous growth in Sri Lanka and has gained a reputation for offering affordable flights, a luxurious travel experience and world-class standards of service. Commenting on the occasion, Gihan […]