Category: Industry
Sri Lanka’s outdated oil refinery upgrade to cost US $1.3bn
Apr 28, 2015 (LBO) – Sri Lanka’s Sapugaskande oil refinery which has an outdated oil reefing process will be upgraded at an estimated cost of 1.3 billion US dollars, under 2015 -2025 energy sector development plan, Power and Energy Minister said.“In the energy sector development plan, a refinery upgrading and modernization project, at an estimated […]
Sri Lanka to set up a regulatory body to monitor energy costs: Minister
Apr 27, 2015 (LBO) – Sri Lanka to set up an independent regulatory body to monitor island’s energy institution’s actions and activities and will not give room to pass unreasonable costs to the consumer as it will be scrutinized, a Minister said. “The marketing establishments would not be able to hide their inefficiencies in the […]
Sri Lanka micro apartments to attract property hunters through prices
Apr 28, 2015 (LBO) – Sri Lanka’s micro living arrangements have made increasingly popular among residential property hunters for their affordable prices and attractive features, an online property portal said.According to internal data from local property portal Lamudi, such modest residences particularly those that are offered for rent are some of the most affordable and […]
SriLankan airlines to address corruption allegations through new management structure: Chairman
Apr 27, 2015 (LBO) – State-run SriLankan airline chief says a committee has been appointed to look in to the alleged allegations made in the recent Welliamuna report and any irregularities found will be dealt through a proposed new management restructuring. “We have a committee comprising three of our directors who are looking into these […]
Sri Lanka’s FTA with India; an opportunity not a threat: Ceylon Chamber of Commerce
Apr 27, 2015 (LBO) – Sri Lanka’s free trade agreement with India should be extended to services and investment deepening the existing FTA on the trade in goods, the Ceylon Chamber of Commerce said. “There is a strong case for giving high priority to building upon the existing Indo Sri Lanka FTA; completing the FTA […]
Sri Lanka tax revenue up 24-pct in first quarter 2015: Finance Minister
Apr 25, 2015 (LBO) – Sri Lanka’s tax revenue has increased 23.8 percent in the first three months of this year against the same period last year, Finance Minister Ravi Karunanayake said. “The Inland Revenue Department has performed a significant task to increase the tax income.The people are convinced today that tax money does not […]
Sri Lanka raises import duties of potatoes and onions to protect local farmers
Apr 25, 2015 (LBO) – Sri Lanka’s import duties on potatoes and big onions have been increased, the Finance Ministry said in a statement. The import duty of one kilogram of potatoes has been increased from 40 rupees to 55 rupees while the import duty of big onions has been increased from 10 rupees to […]
Sri Lanka Tourism Promotions Bureau spent over Rs300mn for Uva election campaign
Apr 25, 2015 (LBO) – Sri Lanka’s Tourism Promotions Bureau has spent over 300 million rupees for the Uva election campaign, Tourism and Sports minister Navin Dissanayake said. Dissanayake was speaking at an event held at temple trees on Friday to handover the investigation report on Tourism and Sports ministries to Prime Minister Ranil Wickremesinghe. […]
Sri Lanka’s tourism sector profits should trickle down to people: Minister
Apr 24, 2015 (LBO) – Sri Lanka’s Tourism Minister told LBO that the profits from Island’s tourism sector should go to the hands of the common people.Tourism Industry is highly depend on manpower which requires skilled and unskilled labour. “Looking into the future, tourism is a sector that is developing at a rapid pace and […]
Sri Lanka’s CEB says energy sector is challenged when providing quality electricity
Apr 24, 2015 (LBO) – Sri Lanka’s energy sector is challenged when providing quality electricity to suit the current requirements of the households in the Island, Chairman of Ceylon Electricity Board (CEB) said. “Supplying quality electricity is a challenge,” Anura Wijepala, Chairman of Ceylon Electricity Board (CEB) told a forum in Colombo yesterday. “It is […]
Sri Lanka to implement Bibile sugar development project
Apr 23, 2015 (LBO) – Sri Lanka’s cabinet has given approval to implement the Bibile sugar development project with the participation of farmers from the Badulla and Ampara districts covering the cultivation of sugar cane for the production of sugar and cultivate mixed crops.Each farmer in the area will be provided a block of land […]
Sri Lanka to pitch foreign cruise liners to expand cruise tourism: Tourism Promotion
Apr 22,2015 (LBO) – Sri Lanka’s tourism promotion bureau said that it plans to attract more international cruise liners in order to expand Island’s cruise tourism business.“We will make a pitch for top cruise organizations like Royal Caribbean, Celebrity and MSC to have turnaround visits and include Sri Lanka in to the itinerary,” Rohan Athukorala […]