Category: Industry
Golden Key depositors to be paid July 24th: Ravi K
July 16, 2015 (LBO) – Sri Lanka’s Finance Minister, Ravi Karunanayake said that all the Golden Key depositors will be paid on 24th of July 2015.“We are paying the Golden Key depositors on 24th,” the Minister told reporters in Colombo, Thursday.“The exact amount to be paid has not yet been decided yet,” The Golden Key […]
Sri Lanka CEB to
July 16, 2015 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board (CEB) has given approval to purchase a 60MegaWatt barge mounted power plant for 571 million yen (641 million rupees). The agreement on purchasing of electricity from the power plant has expired on 30th of June 2015. The proposal to purchase the plant has been […]
Sri Lanka gives nod to transport “Walla-Patta” on commercial basis
July 16, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval to transport the plant “Gyrinopswalla” or “Walla –Patta” on commercial basis, based on a permit issued by the respective authority, cabinet spokesman Rajitha Senaratne said.The proposal was made by President Maithripala Sirisena in his capacity as the Minister of Mahaweli Development and […]
Commercial Bank Bangladesh rated AAA: CRISL
July 16, 2015 (LBO) – Sri Lanka’s Commercial Bank, Bangladesh accorded AAA long-term credit rating by Credit Rating Information and Services (CRISL), a statement said. The full statement follows The AAA (Triple A) long-term credit rating accorded to the Bangladesh operations of Commercial Bank PLC has been reaffirmed by Credit Rating Information and Services Ltd […]
Sri Lanka lacks high-end shopping malls to attract affluent travelers: Report
July 15, 2015 (LBO) – Sri Lanka still lacks malls that can give its high-end tourists the holistic retail experience, despite the growth in retail options in the Island, a recent report said.“Despite the growth in retail options the city still lacks high-end shopping malls to entice the affluent travelers by providing them a holistic […]
Sri Lanka’s online property portal ‘Lamudi’ launches its first real estate magazine
July 15, 2015 (LBO) – Sri Lanka’s online property portal ‘Lamudi’ has launched the first issue of its real estate magazine ‘Property Now’, the company said.The quarterly magazine consists of the latest real estate market report, trends in the real estate industry, home tips, current developments, changes in the digital market and other pertinent topics.Though […]
Sri Lanka’s People’s Merchant Finance removes CEO
July 14, 2015 (LBO) – Sri Lanka People’s Merchant Finance, a subsidiary of People’s Bank of Sri Lanka said it removed the Chief Executive Officer and director of the company following a directive of Monetary Board. The company said, that in term of section 25(1) (h) of the Finance Business Act, the Monetary Board has […]
Sri Lanka restricts mobile phone services at Yala national park
July 14, 2015 (LBO) – Sri Lanka restricts mobile phone services at Yala national park to minimise the danger from rushing safari vehicles to show animals to visitors. Yala is one of the busiest national park in the Island but, also a unique conservation site for leopards and other threatened fauna and flora. The park […]
‘s entry fees higher than region: Report
July 14, 2015 (LBO) – Sri Lanka’s tourist attractions entry fee charge between local and foreign visitors is higher when compared to other countries in the region, a recent report said.“Along with regional countries such as Malaysia, Thailand and China, Sri Lanka too charges a two-tier price system whereby foreigners are charged a higher price,” Bartleet […]
Sri Lank tourism infrastructure still has visible gaps: Report
July 13, 2015 (LBO) – Sri Lanka has to continue to invest in improving domestic transport and air connectivity in order to realize the full potential of the industry, a report by a stockbroker said. “At present Sri Lanka’s road network is improving at a slow but steady pace with some of the key areas […]
Sri Lanka’s Hambantota Port first phase, a burden of USD51mn per year: SLPA
July 13, 2015 (LBO) – Sri Lanka’s government had to pay 51 million US dollars per year as loan repayments for the first phase of the Hambantota Port, Sri Lanka Ports Authority said. The first phase of the Port commenced in 2007 and incurred over 500 million US dollars while 90 percent of which was […]
Sri Lanka needs more value added tea exports; brew only 4-pct locally: EDB
July 10, 2015 (LBO) – Sri Lanka needs to look at higher value additions in tea and the current value additions are not giving the required value addition levels, the head of EDB said. Bandula Egodage, the chairman of Export Development Board said a whopping 96 percent or 325 million Kilograms of Pure Ceylon Tea leave […]