Category: Industry
Fin Min orders investigation on liquor licenses issued without approval
Sep 16, 2019 (LBO) – Sri Lanka’s Finance Minister has orderd authorities to investigate and report to him on how liquor licenses were issued for taverns without obtaining the approval of the subject minister. Minister Mangala Samaraweera ordered Excise Commissioner General, H.G. Sumanasinghe to conduct an immediate investigation how liquor licenses have been issued by […]
EU delegation visits Katunayake export zone
Sep 16, 2019 (LBO) – A delegation consisting of five senior officials of the European Commission visited the Katunayake Export Processing Zone recently in connection to Sri Lanka’s GSP + status. The delegation consisting of Thorsten Bargfrede, Charged’ Affaires and head of political, trade and communication section, Walter Van Hattum, coordinator GSP trade preferences, trade […]
Forward tourist bookings have fully recovered – JKH Deputy Chair
September 12, 2019 (LBO) – Forward bookings in the tourism sector of Sri Lanka’s largest conglomerate, John Keells Holdings (JKH), have fully recovered on a year on year basis according to JKH Deputy Chairman Gihan Gooray. These comments were made to news anchor Sri Jegarajah during a broadcast on CNBC Singapore. The comments come as […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based Hatton National Bank PLC’s (HNB) National Long-Term Rating at ‘AA-(lka)’. The Outlook is Stable. At the same time, Fitch has affirmed the bank’s Sri Lanka rupee-denominated senior unsecured debt at ‘AA-(lka)’. The ratings on HNB’s Basel II and Basel III compliant Sri Lanka rupee-denominated subordinated debt are affirmed at […]
FM Marapana calls for peaceful engagement in Indian Ocean at IORA conference
Sep 11, 2019 (LBO) – Foreign Minister Thilak Marapara called for cooperation and peaceful engagement in the Indian Ocean maritime domain by IORA members for creating a stable, secure environment, facilitative of economic prosperity. The Minister was addressing the 3rd IORA blue economy Conference held in Dhaka, Bangladesh when he made these comments. He said steps […]
Japanese investor to start manufacturing flexible packaging for Sri Lanka Tea Industry
Sep 09, 2019 (LBO) – Sri Lanka’s Board of Investment signed an agreement with a Japanese company to establish a plant that will be manufacturing flexible packaging that will be utilized by the local Tea industry. The agreement was signed by Mangala Yapa, Chairman of the BOI and Yusaku Sugano, Managing Director of Sugano Colombo […]
CCC biz conclave draws foreign participants for agri, power , tourism, exports, infrastructure
Sep 09, 2019 (LBO) – The Sri Lanka Investment and Business Conclave 2019 has shown a rise in interest for agriculture, power and energy, infrastructure development, export manufacturing/services, knowledge services and tourism/leisure by delegates registered to date to attend. Foreign companies interested in investing in Sri Lanka are also keen on agriculture, tourism and leisure, export services […]
Sri Lanka Singapore Business Council promotes Brand SL and showcases tech talent
SLSBC over the years has played the role of the catalyst to its members and other Sri Lankan corporates to promote bilateral trade between the two countries. This year, the SLSBC led a delegation of 31 Board level individuals from 26 local companies drawn from a multitude of industry sectors to explore opportunities. What was […]
SL and Australia to strengthen cooperation to counter people smuggling
Sep 06, 2019 (LBO) – Sri Lanka and Australia have re-dedicated themselves to counter people smuggling and discussed in detail avenues for strengthening cooperation to address the recent escalation of the number of people-smuggling ventures from Sri Lanka to Australia since May, 2019. Foreign Secretary Ravinatha Aryasinha expressed Sri Lanka’s fullest support to Australia in […]
Sri Lanka Tourism launches one-day license renewal service for service providers
Sep 05, 2019 (LBO) – As an initiative to facilitate the renewal of licenses much faster which is an annual requirement and to deliver enhanced satisfaction to the tourism service providers, SLTDA is now fully geared to issue renewals for accommodation and service providers in one day once the relevant documents for each category are […]
Sri Lanka tourist arrivals drop in Aug 2019: Europe picks up
Sep 05, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during August 2019 was 143,587, a decline of 28.3 percent when compared with the same period last year. This month, the largest source market for tourists was India, followed by the United Kingdom and China. Almost 99 percent of tourists […]
Morison initiates second attempt to delist from Colombo Stock Exchange
Sep 04, 2019 (LBO) – The Board of Directors of Morison by way of a circular resolution dated yesterday, has resolved to initiate the delisting of the company’s fully paid voting shares and fully paid non-voting shares from the CSE. The company said in a stock exchange filing that the delisting will be subjected to […]