Category: Industry
President reviews issues in private bus sector
Jun 09, 2020 (LBO) – President Gotabaya Rajapaksa pointed out the importance of developing the service provided of private bus owners in a systematic manner while ensuring a standard service to the public. President directed relevant officials to prepare a joint time table after carefully studying the long-standing issue relating to the same in consultation […]
Prime Grand resumes construction aligned with health protocols
Prime Grand, the flagship luxury project of Prime Group, the leading real estate developer of Sri Lanka, has resumed its operations in accordance with #RestartSL protocols announced by the Government of Sri Lanka. Prime Group which stands strong in their contribution towards the economic regeneration in the country, celebrated a key milestone of ‘Prime Grand’, […]
MarCom collective commissions Ernst & Young to study industry’s economic significance
Jun 08, 2020 (LBO) – The MarCom Collective has commissioned Ernst and Young Sri Lanka (EYSL) to undertake a comprehensive study on the country’s marketing communications industry and its contribution to the Sri Lankan economy. The Collective is a group of associations, businesses and professionals from the marketing and advertising industry that came together following […]
Roadmap to post-COVID-19 economic recovery
Jun 08, 2020 (LBO) – What is Sri Lanka’s strategy to help the country’s economy recover? What should our policy priorities be, both medium and long term, to enable a post-pandemic rebound? Join The Chamber Academy’s discussion on the Roadmap to Post-COVID-19 Economic Recovery, and engage with economic experts on 12 Friday, from 11-12:30pm. The […]
Standard Chartered supports MAS Intimates’ combat against COVID-19
Jun 08, 2020 (LBO) – Standard Chartered announced today that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, became the first company in South Asia to complete a drawdown under the Bank’s USD1 billion COVID-19 financing commitment. The Bank extended a USD11 million loan to Sri Lanka-based MAS Intimates to facilitate the purchase of […]
First phase of compensation payment for The Finance Company depositors
Jun 04, 2020 (LBO) – The Central Bank has taken steps to pay compensations up to 600,000 rupees to all insured depositors of The Finance Company (TFC) as per the Regulations of Sri Lanka Deposit Insurance and Liquidity Support Scheme. The Central Bank said in a statement that the balance amount if any will be […]
Economic Zone:A catalyst for modern services in Sri Lanka
Jun 03, 2020 (LBO) – The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI), is set to discuss the topic of “Port City Special Economic Zone– A Catalyst for Modern Services in Sri Lanka” on Thursday, 04 June 2020, during a webinar titled “Colombo Port City: Potential growth impact for Sri Lanka” hosted […]
‘s construction projects expected to pickup and stick to timelines:ICRA
Jun 3, 2020 (LBO) – Sri Lanka’s construction sector is expected to demonstrate resilience compared to other economic sectors, a new report said. The construction projects are expected to gradually pickup pace and broadly stay within the original timelines, ICRA Lanka said. “Current domestic raw material production level and inventories are expected to sustain ongoing […]
National tea sales average up in May 2020
Jun 03, 2020 (LBO) – National average for the month of May 2020 totalled Rs. 697.57, the highest ever recorded for a calendar month surpassing the previous best of Rs. 689.18 recorded in April 2020, a new report says. In comparison to May 2019 average of Rs. 539.55, shows a significant increase of Rs. 158.02 YOY, Forbes and […]
Ookla declares Mobitel as the Fastest Mobile Network in Sri Lanka for 2019
Jun 03, 2020 (LBO) – Ookla, the global leader in internet testing and analysis, has declared Mobitel as the Winner of the Speedtest Award™ for 2019, successfully winning the award for all four quarters consecutively as the Fastest Mobile Network in Sri Lanka. Speedtest Awards are licensed to Internet Service Providers and mobile carriers around […]
Sri Lanka export earning drop 42.3-pct in Mar 2020
Jun 02, 2020 (LBO) – The deficit in the trade account narrowed in March 2020 to US dollars 549 million, from US dollars 592 million in March 2019, as the decline in imports in value terms exceeded the decline in exports, the Central Bank said. However, on a cumulative basis, the trade deficit widened to […]
ICTA denies alleged irregularities alluded to by Dr. Weerawarana
Jun 01, 2020 (LBO) – ICTA categorically denies the alleged irregularities alluded to by Dr. Sanjiva Weerawarana and is considering what actions it should take in this regard. There has been a great deal of speculation subsequent to his blog post, dated 30th May 2020, both in the mainstream and social media, as to the […]