Category: Industry
Infrastructure: People should be consulted in future projects, says Min Ranawaka
Nov 02, 2015 (LBO) – Sri Lanka’s future infrastructure development projects should be done in consultation with the people, a Minister said.“We have identified some of the previous mistakes that were done with regard to infrastructure development during the previous regime,” Champika Ranawaka, Minister, Megapolis and Western Province development said. “The first one was that […]
Sri Lanka extends local and foreign expert services on Megapolis for five months
Oct 29, 2015 (LBO) – Sri Lanka has extended the local and foreign consultancy services on the Capital Colombo’s Megapolis project by five months, Cabinet Spokesperson and Mass Media Minister Gayantha Karunathilaka said.The government hired Surbana/ CESMA International, a part of Singapore’s state-run Housing Development Corporation, for a sum of 35 million rupees, to design […]
Bank of Tokyo Mitsubishi to set up a rep office, ease Japanese investment
Oct 29, 2015 (LBO) – The Bank of Tokyo Mitsubishi UFG Ltd (BTMU) formally announced that it will be opening a new representative office in Sri Lanka at the end of March 2016, subject to regulatory approval in Japan, Board of Investment said in a release. This initiative plans to facilitate investment by Japanese companies […]
Do the proper checks before buying apartments: Property developer
Oct 28, 2015 (LBO) – Sri Lankan apartment buyers are warned that there are risks in buying apartments and they should do the proper checks and minimize it, a property developer said.“Apartment buyers need to be careful when buying as they are spending their lifetime savings,” Brahmanage Premalal, chairman of Prime Lands said. “Most apartments […]
Dialog Axiata partners with Ericsson for Managed Enterprise Cloud in Sri Lanka
Oct 28, 2015 (LBO) – Sri Lanka’s largest connectivity provider Dialog Axiata has partnered with Ericsson to make Managed Enterprise Cloud services in Sri Lanka. Managed Enterprise Cloud enables operators to create and provide white-label enterprise software services flexibly and effectively. Ericsson will install and integrate the Managed Enterprise Cloud framework in Dialog’s data center […]
‘s CCC, Japan Kansai to promote trade and investment
Oct 28, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) signed an ‘Agreement of Cooperation’ to promote two way commercial ties with Japan’s Kansai Economic Federation, a statement said. “It enables both sides to exchange information on economic and business trends in the two countries, cooperate in trade, investment, environment conservation and energy-saving […]
Interview: Creating a tech ecosystem essential for Sri Lanka IT, says Manoj Ranaweera
Oct 27, 2015 (LBO) – Building a tech ecosystem is crucial for a thriving IT sector, according to a Sri-Lankan born entrepreneur. Manoj Ranaweera was a key architect behind the ecosystem put in place in Manchester between 2006 and 2013.Through 100 events he rallied together over 2,000 entrepreneurs, investors, deal makers and senior managers of […]
Commercial real estate market has high potential for ROI: analysts
Oct 26, 2015 (LBO) – The demand for Sri Lanka’s commercial property is growing and there will be high potential for return on investment, experts said. “Sri Lanka’s commercial real estate has high potential for return on investment (ROI),” Ravi Abeysuriya, group director of Candor, a financial consultancy service said. “Retail rental yields for commercial […]
Fitch affirms ratings on five Sri Lankan banks
Oct 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the National Long Term Ratings on five small and mid-sized Sri Lankan banks. The rating announcement is reproduced below. Nations Trust Bank PLC (NTB) has been affirmed at ‘A(lka)’, Pan Asia Banking Corporation PLC (PABC) at ‘BBB(lka)’, Sanasa Development Bank PLC (Sanasa) at ‘BB+(lka)’, […]
Sri Lanka Treasury guarantees water project funding from Bank of Ceylon
Oct 23, 2015 (LBO) – Sri Lanka is to implement a water supply project for the towns in east of Colombo with funding secured from Bank of Ceylon with a treasury guarantees, media spokesman Rajitha Senaratne told reporters on Thursday.The cabinet of ministers have approved the implementation of 34 water supply projects with a cost […]
Dilmah for trade liberalization provided there is a master plan: Malik
Oct 22, 2015 (LBO) – Sri Lanka’s top tea company Dilmah supports trade liberalization provided there is a master plan in place, Malik J. Fernando, a director of Dilmah, said at a forum in Colombo. An effective plan where local corporates are consulted and given preference over foreign investors is necessary within any sector undergoing […]
Sri Lanka stocks close up 0.2-pct driven by retail activity
Oct 22, 2015 (LBO) – Sri Lankan stocks closed up 0.19 percent on Thursday for a third consecutive day driven by retail activity with gains in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed higher 13.18 points at 7,068.85 higher 0.19 percent. S&P SL20 closed 10.24 points higher at 3,819.07 up […]