Category: Industry
Sri Lanka vehicle registrations down in June 2019
Jul 22, 2019 (LBO) – Sri Lanka’s vehicle registrations across most categories have declined in June relative to May, a new report shows. Data compiled by JB Securities equities research shows a drop in 2-wheeler registrations have driven down the total to 26,201 the lowest on record over the past 36 months. The slowdown and […]
BOI to take action against Hayleys Free Zone Ltd for failed waste re-exports
July 19, 2019 (LBO) – Sri Lanka’s Board of Investment is to take stern action against Hayleys Free Zone Limited for failing to meet commitment laid out in their BOI agreement. The BOI has permitted Hayleys Free Zone Limited in May 2014, to operate an integrated logistics center and entrepot trading as permitted activities within […]
Fantasy Island (Pvt) Ltd announce family entertainment center in Battaramulla
Jul 19, 2019 (LBO) – Fantasy Island will become Colombo’s a family entertainment center located at Waters Edge in Battaramulla with the elements air, sea, and land. The attraction park will feature a 40m Ferris wheel, an indoor snow experience, and a big waterplay-area including waterslides. Alexander Melchers, managing director of the Melchers Group in […]
Sri Lanka needs to improve energy sector governance: Dr Priyantha Wijetunga
Jul 19, 2019 (LBO) – Sri Lanka has a long way to go when it comes to energy sector governance Director, Asian Development Bank, South Asia Energy Division, Dr Priyantha Wijetunga at the ‘techno’ 2019 launch at Marino Beach Colombo held recently. “With all advancement and with all progress in the energy sector in various […]
ComBank launches Sri Lanka’s first QR based payment app under LANKAQR
The Commercial Bank of Ceylon has launched ComBank Q+ – the first Quick Response (QR) based payment app to be launched under LANKAQR – creating history yet again by introducing technology that matters in the lives of the Bank’s customers. LANKAQR is the national QR standard for local currency payments introduced by the Central Bank […]
Ekuinas sells APIIT Lanka for RM41mil
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has disposed of its entire equity interest, together with its minority partners in APIIT Lanka Pvt Ltd (APIIT Lanka), based on an enterprise value of approximately RM41mil to BG Investments Pte Ltd. “We are pleased to report that the divestment generated a gross internal rate return (IRR) of 17.5% […]
BOI inks agreement with edotco to equip Sri Lanka with Smart City Solutions
July 17, 2019 (LBO) – The Board of Investment (BOI) and edotco Sri Lanka, an integrated telecommunications infrastructure services company today entered into an agreement to invest in the latest Smart City solutions and energy-efficient systems. Under this agreement, the BOI grants edotco Sri Lanka the approval to deploy urban smart solutions throughout the country […]
SenzMate, the Internet of Things tech company born in Jaffna
By Jekhan Aruliah I visited SenzMate a few months ago, and am only now getting around to writing about them. The reason for my hesitation has been although this is a Jaffna born company it is no longer in Jaffna. My objective in these articles is to root for businesses to move North. SenzMate had […]
PUCSL, Moratuwa Uni to introduce self-powered housing model for low-income households
July 16, 2019 (LBO) – Sri Lanka’s electricity sector regulator, Public Utilities Commission signed a Memorandum of Understanding with Moratuwa University yesterday to introduce a self- powered housing model for low-income households. The aim is to provide the best architectural housing structure with the use of maximum daylight for low-income households. “Energy Conservation is one […]
‘s Sinopec sets up fuel oil unit in Sri Lanka
July 16, 2019 (LBO) – China Petroleum and Chemical Corp, Sinopec Corp has launched a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route, foreign media reported. Sinopec says the market to supply fuel to ships has “huge” potential, citing the strategic location of Hambantota […]
JICA supports “Build-Back-Better” tourism sector in Sri Lanka
July 15, 2019 (LBO) – The Japan International Cooperation Agency (JICA), in cooperation with the Tourism Ministry, successfully completed a joint seminar for the “Recovery of Tourism Sector in Sri Lanka after the Easter Bombings 2019” targeting officials and professionals in the tourism sector. The presenter Masato Takamatsu, the Managing Director & Chief Research Officer […]
England wins 2019 Cricket World Cup
Jul 15, 2019 (LBO) – England pulled off the greatest World Cup final win over New Zealand to secure cup after a nail-biting tie-break finish, Sunday at Lords. Both teams ended up equals, not once, but twice.First, in the regular game, then in the Super Over. Eoin Morgan’s side finished on 241 all out in […]