Category: Industry
Dialog 5G Mobile Service shows South Asia’s fastest mobile speeds in excess of 1.4Gbps
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, showcased download speeds in excess of 1.4Gbps using a commercial 5G mobile handset, the highest speed that has been achieved via a mobile handset in South East Asia. Mobile 5G services were demonstrated on the 3.6Ghz trial spectrum that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) […]
Sri Lanka to obtain USD330Mn World Bank loan for climate mitigation
Jun 06, 2019 (LBO) – Sri Lanka’s cabinet of ministers has approved the implementation of phase 1 of a multi-phase program for mitigation of climate disadvantages. The proposal was presented by Mangala Samaraweera, Minister of Finance to hold loan negotiation discussions and enter into financial agreement with the International ank for Development and Reconstruction to implement […]
Sri Lanka tea prices down in May 2019
Jun 06, 2019 (LBO) – Sri Lanka’s tea prices or national average for May 2019 were down to 51.69 rupees vis-à-vis May 2018 with medium and low growns showing the biggest deficit, a report shows. “In first 5 months of year, prices show a decrease of 41.64 compared to 2018,” Forbes and Walker Tea Brokers […]
Additional lanes for entry & exit ramp of Ja-Ela interchange to ease congestion
Jun 05, 2019 (LBO) – Cabinet approval has been granted to award the contract for the construction of additional lanes at the entry and exit ramp of Ja-Ela interchange to RR Construction Private Limited for a sum of 285.4 million rupees. There are currently two lanes at each of the entry and exit ramps for […]
SriLankan Airlines, official airline partner of Melbourne’s Great Ocean Road Running Festival
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance continuing to establish its brand presence in Australia, became the official airline partner of the Great Ocean Road Running Festival, recently. The Airline was also the title sponsor of the much sought after 6 km race of the Festival. Known […]
Sri Lanka reduces electrocutions by 50-pct in 2018
Jun 05, 2019 (LBO) – Sri Lanka reduced electrocutions by 50 percent to 89 electrocutions in 2018 compared with the electrocutions reported in 2012, the Electrocution Report 2018 by Public Utilities Commission of Sri Lanka (PUCSL), the regulator for electricity industry says. Sri Lanka reported 180 electrocutions in the year 2012. According to the international […]
LOLC passes most Sri Lankan corporate giants with Rs11bn annual profit
June 4, 2019 (LBO) – Colombo Stock Exchange listed LOLC Holdings (LOLC) has reported an astounding profit of over Rs11bn (US$65mn) for the fiscal year ended March 31st, 2019. The company’s annual profit attributable to equity holders is surpassed only by five Sri Lankan listed companies: Ceylon Tobacco (CTC), John Keells Holdings (JKH), Commercial Bank […]
Sri Lanka tourism kicks off promotion campaign in India
Jun 04, 2019 (LBO) – Sri Lanka Tourism with the Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotels Association of Sri Lanka (THASL) together with Sri Lankan Airlines to launched five promotional packages in the Indian market. “We look forward to activating this campaign as soon as possible in India and looking […]
Italian Embassy relaxes travel advisory for Sri Lanka
May 31, 2019 (LBO) – The Italian Embassy in Sri Lanka announced that it has updated its travel advisory for all Italian nationals travelling to Sri Lanka. Lowering the level of security previously advising against travel to Sri Lanka, the new update advises Italian nationals intending to travel to Sri Lanka during this period to […]
Competition cuts Asian Hotels (AHPL) annual profit in half
May 31, 2019 (LBO) – Profits at Sri Lanka’s leading city hotel operator, Asian Hotels and Properties (AHPL), were down more than 50% for the year ended March 31, 2019. For the year, profits came in at Rs1.83/share as opposed to Rs3.81 a year earlier. Shares currently trade at a price just above Rs30/share. AHPL […]
BOI signs agreement with foreign investor for USD 4.5mn luxury resort “Plantation Koggala”
May 31, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with Sundara (Pvt) Ltd on a luxury resort project valued at over USD 4.5 million (approximately LKR 792 mn). The project known as The Plantation Luxury Villas in Koggala is considered a strong vote of confidence in Sri Lanka’s tourism sector […]
SriLankan Airlines to resume services to Karachi
SriLankan Airlines is to resume services to Pakistan’s commercial capital Karachi on 1st June 2019. Sri Lanka’s National Carrier will operate five weekly flights on Tuesday, Thursday, Friday, Saturday and Sunday, with flights arriving in Karachi at 15:10 hours and departing Karachi at 16:10 hours. Some of the international flights into Pakistan were suspended following […]