Category: Industry
New Appointment
Feb 12, 2015 (LBO) – Sri Lanka’s Urban Development Authority (UDA) said Ranjith Fernando, a senior retired banker was appointed as the chairman of the authority. Nayana Nadeesha Mawilmada also been appointed as the new Director General of the Authority , the UDA said in a filing to stock exchange. The earlier office bearers had […]
Sri Lanka to return lands occupied by Military troops
Feb 12, 2015 (LBO) – Sri Lanka new administration is to return lands and buildings which occupied by the military troops in the time of Tamil tiger war for security reasons, a spokesman said today. The minister said the remaining 780 acres of land will also be used to resettle the people displaced by the […]
Sri Lanka merchandise exports up 6.7-pct to US$11bn in 2014
Feb 10, 2015 (LBO) – Sri Lanka’s annual provisional merchandise exports increased by 6.67 percent to 11.079 billion rupees, Export Development board of Sri Lanka (EDB) said in a statement. Fisheries for the month of December 2014 up by 7.8 percent to 22.83 million rupees. Declines experienced by coconuts by eight percent to 40 million […]
’s real estate boom and property market outlook
Feb 09, 2015 (LBO) – Sri Lanka’s online property hunters seek houses than apartments despite the luxury apartment segment having a short term demand, country head of a leading real estate portal said. Globally founded on 2013, the property portal currently available in 32 countries across Asia, Africa, the Middle East and Latin America with […]
Custom Check
Jan 30, 2015 (LBO) – Sri Lanka™s Customs service will work round the clock in order to improve the service offered to the people and the improve island™s trade efficiency, Finance Minister Ravi Karunanayake said. The government expects around 50 billion rupee income from this measure. In an endeavor to improve the service offered to […]
India says it is time for trade expansion
Jan 28, 2015 (LBO) – India’s Deputy High Commissioner says with the political changes in Sri Lanka ,it’s high time for both countries to expand the trade from goods to investment and service exchanges. Indo-Sri Lanka relations have been historic and diverse and with the new changes in Sri Lanka, relations can move towards new […]
Sri Lanka to cancel the licenses of all duty free shops at BIA
Jan 21, 2015 (LBO) – Sri Lanka’s Minister of Aviation Faizer Mustapha has ordered to cancel the licenses of all duty free shops at the Bandaranaike International Airport (BIA) and Mattala airport, a media report said. The minister has asked the authorities to call for open tenders for duty free shop for both airports. There […]
Sri Lanka exporters urges removal of barriers to boost export
Jan 20, 2015 (LBO) – Sri Lanka’s Exporters’ Association said that it expects that the new government will take steps to eliminate some of the barriers and deficiencies the sector faces towards boosting exports. Releasing a statement, the apex body of exporters said that the association has continuously lobbied on several platforms and to relevant […]
’’s Yunnan Province for a corporate agreement
Jan 16, 2015 (LBO) – Sri Lanka’s Export Development Board (EDB) in talks with China’s Yunnan province for a corporate agreement to increase exports from the island, especially of high-value products, EDB said in a statement. We are currently preparing one of the strongest ever delegations to this year’s CSAE fair and we also positively […]
SriLankan Airlines to reschedule flights and re-deploy capacity to gain USD 18mn
Jan 16, 2015 (LBO) – Sri Lanka’s national carrier SriLankan airlines has re-deployed its capacity and adjusted its scheduled operations to focus on more commercially sustainable services which translates to an annual bottom line improvement of approximately 18 million US dollars , the airline said in a statement. The airline will cut flights to the […]
Sri Lankan insurers wrapping up segregation plans, four under evaluation: regulator
Jan 07, 2015 (LBO) – Sri Lanka’s composite insurers are on track to complete a regulatory push to split their businesses despite legal affairs delayed several insurers, a senior official said. Director General of the island’s insurance regulator Damayanthi Fernando told LBO that seven out of twelve composite insurers have so far completed their segregation […]
Train Link
Jan 03, 2014 (LBO) – Sri Lanka inaugurated the newly built railway track between Jaffna and Kankasanthurai covering a distance of 18 kilometers, which established a direct train link with Colombo a media release said. This track corridor has two crossing stations at Kondavil and Chunnakam and five halt stations at Kokuvil, Inuvil, Mallakam, Tellipalai […]