Category: Industry
Sri Lanka luxury property market under threat: OBG
Sep 28, 2015 (LBO) – Sri Lanka’s high end residential property market is at a possible risk as supply is set to overtake demand, a recent real-estate update by the Oxford Business Group said. The supply of luxury apartments in the commercial capital could reach 6000 units by 2018-19, according to a recent report by […]
Sri Lanka’s island-wide blackout a technical fault: CEB
Sep 28, 2015 (LBO) – Sri Lanka’s Power Minister Ranjith Siyambalapitiya has ordered CEB to investigate the reason behind the island wide power failure experienced last midnight.CEB Chairman Anura Wijepala told LBO that the investigation is currently underway.“It happened last midnight. However by 4’o clock in the morning we restored the power supply.” Wijepala said. […]
Sri Lanka’s dream as a Maritime Hub has associated challenges
Sep 28, 2015 (LBO) – Sri Lanka’s first ever international maritime conference concluded over the weekend leaving policy makers an array of thoughts on how to transform the island into a Maritime Hub. The country legislated Colombo and Hambanthota ports as Free Ports two years ago but criticism over its prologue echoed at the recently […]
Sri Lanka shipping can play a vital role in economy: Pandithage
Sep 27, 2015 (LBO) – Sri Lanka’s maritime industry can boost and support the islands efforts in international trade and investments to enable further long-term growth, a senior official said. “Sri Lanka has to be a hub for more than South Asia to realize the full potential of our valuable ports and shipping,” Mohan Pandithage, […]
Sri Lanka Customs to implement Single Window System by end 2015
Sep 27, 2015 (LBO) – Sri Lanka Custom’s Single Window System is to be implemented by the end of this year, Finance Ministry said in a statement.The system enables the economic operators and trading partners to submit all import, export and transit information required by regulatory agencies via a single electronic gateway. Single window operation […]
Sri Lanka welcomes largest container vessel to Colombo port
Sep 25, 2015 (LBO) – Sri Lanka has welcomed the largest container vessel to Colombo port today morning, the ports and shipping ministry said.The UK registered vessel ‘Marco Polo’ has 16,020 containers of cargo carrying capacity.The vessel is 396 meters by the length and 29.9 meters of height and it was the world’s largest vessel […]
Sri Lanka maritime industry needs proper policy: Minister
Sep 25, 2015 (LBO) – Sri Lanka’s Ports and Shipping Minister Arjuna Ranatunga says that the maritime industry progress has been held back due the lack of clear policy and its implementation. “I strongly believe that we can develop the maritime economy into hub status with the assistance of the stakeholders of the industry,” Ranatunga said at the […]
Sri Lanka’s tea exports decline in August: Forbes & Walker
Sep 24, 2015 (LBO) – Sri Lanka’s tea exports and earnings fell in August 2015 from a year earlier, with exports dropping to 21.1 million kilos, a difference of 6.3 million kilos from the previous year, Forbes & Walker Tea Brokers said in a report. “Total revenue too shows a fairly substantial decline of 5.8 […]
Colombo Fashion Week to push resort wear as a high growth industry
Sep 24, 2015 (LBO) – Sri Lanka’s Colombo Fashion Week is pushing resort wear as a high growth industry in the region while enabling the island’s designers to tap into the growing demand for the industry. “Once a category that was focused on exclusively for the holiday season, resort wear has in the last decade […]
Investor: Future bright for Sri Lanka if policies are consistent, says intl hotel developer
Sept 24, 2015 (LBO) – With more stability in Sri Lanka, investors are keen to make long-term commitments, but their one ask is that policies are clear and remain consistent, Goulam Amarsy, an international hotel developer said. Amarsy appreciated the potential of the island during his first visit to Sri Lanka in August. Now he […]
Sri Lanka’s Pan Asia Bank debentures oversubscribed
Sep 23, 2015 (LBO) – Sri Lanka’s Pan Asia Bank said a listed debt offer for four billion rupees had been oversubscribed Wednesday and is closing on the same day. The bank offered 20 million debentures at 100 rupees each with an option to issue 20 million further. The basis of allotment is to be […]
Microsoft releases Office 2016 for Windows and Mac
Sep 22, 2015 (LBO) – Microsoft on Tuesday released worldwide its latest office update, the Office 2016 along with several new and enhanced Office 365 services. Some highlights from Microsoft: • Outlook 2016 provides the smartest inbox yet, delivering lightning fast search, removing low priority mail automatically and making sure everyone on the To: line […]