Category: Industry
Google makes traffic congestion maps available for Sri Lanka
Nov 19, 2015 (LBO) – Google Maps has activated traffic information for Sri Lanka with useful congestion data for Colombo and other locations, an IT observer said. The maps are available for any location where there is mobile data and slow-moving traffic, Malinthe Samarakoon, a developer for yamu. lk said. Available on Google maps for […]
Sri Lanka bring in more price controls for consumer goods
Nov 19, 2015 (LBO) – Sri Lanka’s Consumer Affairs Authority has brought in a new set of Maximum Retail Prices (MRPs) for six new essential consumer items to be effective from 20 November. “The new maximum prices are introduced to safeguard consumers from sudden market hikes, especially in the forthcoming festival season,” Rishad Bathiudeen, Minister […]
Sri Lanka’s LOLC September net up 36-pct with growing incomes
Nov 18, 2015 (LBO) – Sri Lanka’s LOLC group which has interest in financial services, insurance, plantations, trading and leisure said net profits for the September quarter rose 36 percent to 2.1 billion rupees. The group reported earnings per share of 4.54 rupees for the quarter up from 3.34 from a year earlier. For the […]
Sri Lanka can better harness its potential for bio-gas and renewable energy technology
Nov 18, 2015 – Bio-gas can be used in Sri Lanka as a cheaper and cleaner renewable energy alternative to petroleum-based fuels, EU SWITCH-Asia, an European Union program that supports clean energy consumption and production said.“Asia is the centre of domestic biogas development with close to 50 million operational units installed,” the initiative said in a […]
Laugfs eyes Asian market with USD80mn LPG terminal, 10 ships
Nov 18, 2015 (LBO) – Sri Lanka’s Laugfs group plans to expand into Asian waters more aggressively with the launching of its planned LPG terminal to be built at Hambantota port, the group chairman said. “We are now aggressively working to become a leading LPG player in other Asian markets, and with this significant investment […]
Sri Lanka’s MTD launches Walkers Colombo Shipyard
Nov 18, 2015 (LBO) – Sri Lanka’s listed MTD Walkers has acquired a ship repair and ship building entity to expand its existing presence in the marine engineering sector.With this acquisition MTD Walkers has access to Mutwal harbor in Colombo which spans across 3.5 acres that will be utilized for ship repair and ship building. […]
Sri Lanka’s Sampath Bank net up 69-pct in Sept quarter
Nov 17, 2015 (LBO) – Profits at Sri Lanka’s Sampath Bank group rose to 1.9 billion rupees in September quarter, up 69 percent from a year earlier, helped by other operating income, despite higher loan losses, interim accounts showed.The group reported earnings of 10.92 rupees for the quarter. For the nine months to September the […]
US firms await clear policy to invest in Sri Lanka
Nov 17, 2015 (LBO) – Many businesses from the United States are willing to invest in Sri Lanka but are waiting more clear and consistent economic policy from the government, the US Ambassador said at the opening of the US trade fair in Colombo, Tuesday. “American companies are looking for safe investment opportunities,” Atul Keshap, US Ambassador […]
Lifting fish export ban to EU needs further steps: EU Council
Nov 17, 2015 (LBO) – Sri Lanka’s ban on fishery exports to the EU could be lifted if further necessary steps are taken, the European Union Council said. Releasing council conclusions in a statement the Council commended the steps Sri Lanka has taken to comply with the regulations of the Indian Ocean Tuna Commission. “The […]
‘s GSP+ application
Nov 17, 2015 (LBO) – The European Council has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, the institution representing the EU member states’ governments said in a statement. Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
Innovation crucial for Sri Lanka’s future success: ex central banker
Nov 17, 2015 (LBO) – Sri Lanka’s ability to invent and innovate will be vital for economic development and developed country status, a former central banker says.“The future of Sri Lanka will depend on the development of science and technology and how we combine inventions with innovations;” W.A. Wijewardena, former deputy governor of the Central […]
Ceylon Hotels Corp to construct a 50-room hotel in Maldives for USD27.7mn
Nov 16, 2015 (LBO) – Sri Lanka’s Ceylon Hotel Corporation said that it plans to construct a 50-room hotel in Maldives with an investment of 27.7 million US dollars. The company said that it has approved an acquisition of the entire shareholding of Ceylon Hotel Maldives (Pvt )Ltd (CHML) for a sum of 700,020 rupees […]