Category: Industry
Sri Lanka’s phone market shifts to smart phone rapidly: Samsung Official
May 27, 2015 (LBO) – Sri Lanka’s mobile phone market is seeing a rapid shift towards the smart phone segment, a Samsung official said. “The total mobile market which comprise feature and smart phones will now experiencing a major shift from feature to smart in Sri Lanka.” Youngmin Shin, Managing Director, Samsung Sri Lanka said.He […]
UK VISA APPLICANT ARRESTED FOR FRAUD : High Commission
May 26, 2015 (LBO)- Sri Lanka’s British High Commission urged visa applicants to be honest in their applications, a statement said.“We will not tolerate abuse of the UK’s immigration rules. Where we see evidence of abuse, we will take action against those involved,” UK Visas and Immigration Operations Manager, Tony Williams, said in a statement.“We […]
Sri Lanka customs chief resigns; FM to take action against anyone hampering revenue collection
May 25, 2015 (LBO) – Sri Lanka customs chief Jagath P Wijeweera has rendered his resignation letter citing personal reasons, Finance Minister Ravi Karunanayake said.“We accepted it and greeted him for his service,” Karunanayake told reporters Monday.Finance Minister urged customs officers to expedite revenue collection saying it is their duty to collect each and every cent.“You […]
Sri Lanka to have “open sky” policy to boost tourist arrivals : Ravi K
May 25, 2015 (LBO) – Sri Lanka’s new rulers say that the Indian Ocean Island will open skies as a way forward policy to improve tourist arrivals.“We’re going to have an open skies policy that will help tourism and also help grow the business to other countries,” Ravi Karunanayake, Minister of Finance said, at a […]
Sri Lankan businesses should be cautious when entering Asian markets: Business Executive
May 25, 2015 (LBO) – Sri Lankan businesses should navigate and set up a clear focus before entering Asian markets, a local business executive stressed.Chief Executive Officer of Ceylon Biscuits, Imal Fonseka speaking at the LBR LBO CEO forum said Sri Lankan companies need to figure out ways to reach out to the Asian consumer.“We […]
Cabinet approves consultancy contract for Southern Road Connectivity Project
May 22, 2015 (LBO) – Sri Lanka’s cabinet has approved a contract to supply consultancy services for the Southern Road Connectivity Project as recommended by the cabinet appointed consultants procurement committee, the government said.33 kilometers of national highways that provide access to the southern expressway will be developed under this loan assistance.The Asian Development Bank […]
Sri Lankan businesses should look at CEPA as a compliment not substitute: Economist
May 22, 2015 (LBO) – Sri Lankan businesses should look at the extension of the Comprehensive Economic Partnership Agreement (CEPA) as a compliment to their businesses and not as a substitute, a senior economist said. Razeen Sally, an Associate Professor of Singapore Lee Kuan Yew School speaking at the LBR LBO CEO forum called local […]
Sri Lanka’s govt cuts 30 pct cost on Chinese financed OCH3 through work scope reduction
May 21, 2015 (LBO) – Sri Lanka’s Highway ministry said that it has reduced the cost of Outer Circular Highway (OCH) phase 3 by 30 percent to 24 billion rupees through removing of the provision to expand to four lane road to six lanes in 2027.However the ministry will stick to the Rajapakse Regime’s plan […]
Sri Lanka’s CPC will stop bank borrowings to pay taxes against CPC act: Minister
May 21, 2015 (LBO) – Sri Lanka’s state-owned petroleum refiner Ceylon Petroleum Corporation (CPC) is to discontinue the process of paying taxes out of borrowed money from banks, Power Minister Champika Ranawaka said. “We will not pay taxes which are against the CPC act, the era that we paid taxes by borrowing from banks is […]
Swiss GSP facility is underutilized by Lankan exporters: Envoy
May 21, 2015 (LBO) – Sri Lankan exporters are currently underutilizing the Swiss GSP facility given to the country, a Swiss envoy said. Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland who visited the Ceylon Chamber of Commerce this week asked Sri Lankan exporters to take maximum use of their […]
Huawei unveils new smart phone “Honor range” in Sri Lanka
May 21, 2015 (LBO) – Huawei Sri Lanka, unveiled three of its latest Honor range smartphones at a launch ceremony held in Colombo Wednesday.The launch saw mid-market smartphones, with features on par with high-end smartphones, namely, the Huawei Honor G Play, Honor 4X and Honor 6 Plus, being introduced to the local market.The launch of […]
‘s NDB to go ahead with Rs10bn debenture issue
May 21, 2015 (LBO) – Sri Lanka’s National Development Bank plans to sell up to 10 billion rupees of unsecured debentures, subject to regulatory approval, the Bank said in a stock exchange filling.The bank said it had upsized the issue from the previously decided 7.5 billion rupees of debt, with an option for a further […]