Category: Industry
ICRA Lanka revises outlook on issuer rating of BoC to negative
Oct 21, 2019 (LBO) – ICRA Lanka Limited, subsidiary of ICRA limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of Bank of Ceylon at [SL]AAA. The outlook on the rating is revised to negative from stable. Rationale The revision in outlook factors in BOC’s moderate capitalisation levels with steady decline […]
BOI enters into supplementary agreement with concrete poles manufacturer
Oct 18, 2019 (LBO) – Sri Lanka’s Board of Investment signed a supplementary agreement with Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers for both local and export markets. The initial investment made by the Company was 10.3 million US dollars. The Supplementary […]
Emirates unveils special fares from Colombo to Mexico City
Travel enthusiasts in Sri Lanka seeking new destinations to conquer can visit Mexico City at a significant saving from 9th December, when Emirates commences flights to the destination via Barcelona in Spain, subject to government approval. The award-winning airline has announced special introductory fares starting at US$ 1,338 (approximately Rs 241,000/- at current exchange rates) […]
Colombo meeting presses for rationalization of areas of cooperation and adoption of a BIMSTEC Charter
Rationalization of areas of cooperation of Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) and draft Charter of the organization were deliberated and a draft Memorandum of Understanding (MoU) to be signed between the BIMSTEC Secretariat and the Asian Development Bank was agreed on during the 2nd meeting of the (BIMSTEC) Permanent […]
Uber Eats marks first anniversary as online sales grow
Oct 18, 2019 (LBO) – Uber Eats, an on-demand food delivery app, has delivered more than 3 million orders and completed its first successful year of operations in Sri Lanka to become a dominant player in the market. Launched in Colombo in 2018, Uber Eats is committed to make eating effortless at any time and […]
SriLankan Airlines clinches South Asia’s No 01 slot again
Oct 18, 2019 (LBO) – SriLankan Airlines was adjudged the ‘Leading International Airline’ in South Asia for the third consecutive year at the South Asian Travel Awards 2019 (SATA) and also bagged the ‘Leading Airline Passenger Class – Business’ award for the third year running, beating out many top airlines in the region. SriLankan Airlines […]
Opinion: Cigarette smuggling in Sri Lanka, Hype vs. Reality
By Harini Weerasekera In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco control is aimed to reduce smoking rates and the related direct and indirect costs […]
Hambantota International Port partners with NYK Japan
Oct 17, 2019 (LBO) – The Hambantota International Port Group (HIPG) has entered into a Terminal Service Agreement (TSA) with Japanese Shipping Conglomerate NYK, the first RoRo specific TSA entered into by the shipping line with a Sri Lankan Port. Nippon Yusen Kaisha (NYK), whose 130-year history runs parallel to that of its maritime nation, […]
EU-Sri Lanka dialogue addresses issues concerning European investments and achieving results
Oct 17, 2019 (LBO) – The Ministry of Development Strategies and International Trade hosted the 9th European Union – Sri Lanka investor dialogue, an instrument set up in 2017 to resolve issues faced by investors from the European Union operating in Sri Lanka under the Board of Investment. The high-level meeting, which promotes bilateral cooperation […]
DHL Global Forwarding Sri Lanka consolidates operations at DHL Logistics Park
Oct 17, 2019 (LBO) – DHL Global Forwarding Sri Lanka has moved to consolidate its operations and facilities in Colombo into a 225,000-square-foot logistics compound. Dubbed the “DHL Logistics Hub”, the compound comprises seven warehouses and the logistics company’s local head office and is strategically located in Negombo Road, Colombo just six kilometers from the […]
Travel Agents Association of India plans to host Annual Convention in Sri Lanka
Oct 16, 2019 (LBO) – Travel Agents Association of India (TAAI) is planning to host its Annual Convention in Sri Lanka later this year. Over 400 industry leaders and media delegates will be attending the annual sessions scheduled to be held from 11th to 13th November in Colombo. The decision to hold the TAAI Convention […]
LankaPay, JCB International announce commercial roll-out of National card scheme
Oct 16, 2019 (LBO) – LankaClear (Pvt) Limited, the operator of LankaPay, Sri Lanka’s National payment network, together with JCB International Co., Ltd. , the international operations subsidiary of JCB Co., Ltd., announced the commercial roll-out of National Card Scheme (NCS) programme of Sri Lanka, after successfully completing the pilot stage since the announcement of […]