Category: Industry
Sri Lanka’s Commercial Bank net up 19-pct in June 2015 quarter
Aug 13, 2015 (LBO) – Sri Lanka’s Commercial Bank group profit increased 19.4 percent to 2.6 billion rupees for the three months ended June 30, supported by growth in fund based operations, the bank’s interim results showed. Gross income increased 3.4 percent to 18.8 billion rupees for the quarter and the net interest income increased […]
Aitken Spence updates plans for tourism sector
Aug 11, 2015 (LBO) – Sri Lanka’s diversified conglomerate Aitken Spence recently disclosed their future plans with regard to one of their core segments, the tourism sector.Aitken Spence has several large resort construction projects taking place in Negombo, Kalutara and Ahungalla that are expected to add around 750 rooms to the sector. Aitken Spence Deputy […]
Sri Lanka gets Rs.26bn JICA loan to uplift national power grid
Aug 11, 2015 (LBO) – Sri Lanka’s government will get a 26 billion rupee concessional loan from the Japanese government through the Japan International Cooperation Agency, JICA to develop its national power transmission and distribution network, a statment said.The agreement was signed, Tuesday on behalf of the Sri Lankan govenment by R.H.S. Samarathunga, secretary, Ministry […]
Microsoft enters Google territory with launch of new translator app
Aug 10, 2015 (LBO) – Microsoft has entered Google territory with the launch of its new translation application supporting phones and tablets as well as the Apple watch and smart watches that run on Android wear, a foreign media report said.“With the new app, Microsoft is entering into Google territory, which has long offered translation […]
Colombo Fashion Week SWIM 2016 kicked off
Aug 09, 2015 (LBO) – Sri Lanka’s Colombo Fashion Week swim 2016 kicked off in August as its third annual season, in line with its objective of uplifting Sri Lanka’s fashion design industry. Swim, as a season of its own, focuses on swimwear as a specialized category, which has shown immense growth potential as an […]
Sri Lanka to export bananas to China
Aug 09, 2015 (LBO) – Sri Lanka’s agricultural ministry is to sign an agreement with China to supervise quality in bananas that will be exported to China, Government Spokesman Rajitha Senaratne said.The agreement on phytosanitary requirements for banana exports will be signed between China’s General Administration of Quality Supervision, Inspection and Quarantine and the Quarantine […]
Sri Lanka Ports Authority says vessel calling boosted by 12.7-pct in H1 2015 at Colombo Port
Aug 07, 2015 (LBO) – Sri Lanka Ports Authority says the Colombo port has continued to meet the challenges in the maritime sector successfully and two new main shipping lines started using the Port this year. During the first six month of this year the number of vessels calling at the port has increased by […]
Sri Lanka appoints committee to investigate corruption in state transport service
Aug 06, 2015 (LBO) – A Special Investigation Committee has been appointed by the Secretary to the Ministry of Internal Transport to investigate corruption at the ministry and its affiliated institutions within the last five years.The cabinet nod has also been given to a proposal made by Internal Transport Minister Ranjith Maddumabandara to obtain instructions […]
UK global scholarship programme ‘Chevening’ starts accepting applications
Aug 06, 2015 (LBO) – The Chevening Secretariat is accepting applications for 2016/2017 Chevening Scholarships from 3 August until 3 November 2015, the British High Commission said in a statement.Chevening Scholarships are awarded to individuals with strong academic backgrounds who also have demonstrable leadership potential. The scholarship offers financial support to study for a Master’s […]
Vidullanka to develop 6.5MW power plant in Uganda
Aug 05, 2015 (LBO) – Sri Lankan private power producer Vidullanka, through its subsidiary Muvumbe Hydro, has entered into an agreement with the government of Uganda to develop a power plant in Uganda. The power plant with a capacity of 6.5MW will start selling power to the government for a period of 20 years upon […]
China tops tourist arrivals to Sri Lanka in July
Aug 05, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 31 percent from a year earlier to 175,804 in July 2015 with China becoming the top generating market, data from the state tourism promotion office showed. Chinese arrivals rose 65.5 perecnt to 25,120 from a year earlier, while the total in the seven months to […]
Sri Lanka’s Urban Development Authority profits fell 85-pct in March quarter
Aug 05, 2015 (LBO) – Sri Lanka’s Urban Development Authority group profits fell 85 percent to 199 million rupees in the March 2015 quarter from a year earlier, with revenues down 80 percent to 709 million rupees, the interim accounts showed. Finance cost fell 98 percent to 4 million rupees compared to the 329 million […]