Category: Industry
Phone makers in talks to end use of sim cards
July 19, 2015 (LBO) – International phone makers Apple and Samsung are in advanced talks to produce phones with embedded SIMs that will make use of SIM cards obsolete.Industry associations such as GSMA together with phone makers are working on a ‘common architecture’ which could take at least one year to deploy, the UK-based Financial […]
Intel earnings rise but PC chip sales disappoint
July 18, 2015 (LBO) – Intel, the world’s leading semiconductor company, reported higher than expected earnings this week even though sales of chips for PCs were predictably lower. The California-based chipmaker posted second-quarter earnings of 55 cents per share on revenue of .2 billion above analyst expectations of 50 cents a share on $13.04 billion […]
Sri Lanka’s Planters’ Association says 1000 rupees wage offer cost Rs18bn annually
July 17, 2015 (LBO) – Sri Lanka’s Planters’ Association of Ceylon said it will cost 18 billion per year for the industry to pay the 1000 rupees wage hike offer for workers, a statement said.The Regional Plantation Companies (RPCs) recently proposed a productivity linked wage proposal and raise the daily pay to 1000 rupees in […]
Sri Lanka to reduce fuel price if world oil prices drop: Ravi K
July 17, 2015 (LBO) – Sri Lanka’s government will consider a further reduction in the fuel price if oil prices in the world drop, the Finance Minister said. “If the world oil prices drop then we will also reduce the fuel prices in the country but the prices have not dropped yet,” Ravi Karunanayake, Finance […]
Effective public service and service delivery, crucial for competitiveness of economy: Think Tank
July 17, 2015 (LBO) – An efficient service delivery in the public service is crucial not only to achieve a competitive economy but also to meet the needs of poor and vulnerable sections of the society, a think tank said. “The efficiency of the public service, in terms of policy development and service delivery, is […]
Sri Lanka gets Euro 53mn credit from Spain to construct flyovers
July 16, 2015 (LBO) – Sri Lanka’s government to construct four lane steel flyover in Rajagiriya- Colombo, and two lane flyovers in Ganemulla and Polgahawela to ease the traffic congestion in the Colombo city and suburbs with 53 million Euro credit from Spain, cabinet spokesman Rajitha Senaratne said. The credit from government of Spain which […]
Guaranteed price for green leaf extended till next month; Rs200mn for Tea Shakthi Fund
July 16, 2015 (LBO) – Sri Lankan government has decided to extend the guaranteed price of 80 rupees per kilogram of green leaf produced by tea smallholders until this August.Cabinet of Ministers has approved a proposal by Plantation Industries Minister Lakshman Kiriella to extend this scheme implemented under the 100 day programme of the government.Meanwhile […]
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 […]