Category: Industry
Safety of all passengers onboard is our highest priority: SriLankan Airlines
Statement from SriLankan Airlines Colombo May 27, 2019: SriLankan Airlines wishes to clarify and place on record certain facts with regard to a Social Media post that is currently being circulated on all mainstream social media; made by a SriLankan Airlines’ passenger on UL 605 from Melbourne to Colombo operated on the 23rd of May […]
BOI & Hutchison Lanka signs deal to set up warehouse facility to strengthen telco infrastructure
May 27, 2019 (LBO) – Sri Lanka’s Board of Investment on Monday said they signed a supplementary Agreement with Hutchison Telecommunications Lanka to permit the enterprise to set up a warehouse facility to be used for storage at Diyabula Estate, Wattala. The Agreement was signed on behalf of the BOI by Mangala Yapa, Chairman of […]
Sri Lanka to retain 51-pct stake in new Terminal Operations Company of East Container Terminal: SLPA
May 27, 2019 (LBO) – Sri Lanka Ports Authority (SLPA) says the proposed Terminal Operations Company (TOC) that conducts all East Container Terminal operations of the Colombo Port is a jointly owned company with Sri Lanka retaining a 51 percent stake, and the joint venture partners purchasing a 49 percent stake. The Sri Lanka Ports […]
Sri Lanka vehicle registrations down in Apr 2019
May 27, 2019 (LBO) – Sri Lanka’s vehicle registrations were down in almost every category in April due to the New Year and Easter holidays and subsequent turmoil in the country post Easter Sunday bombings, a new report shows. Total motor cars recorded 2,120 units in April down from 2,961 units in March and significantly […]
“Warak Wati Dewarak Nagi Siti Sinhayan Api” Sri Lanka Cricket launches World Cup theme song
Sri Lanka Cricket, under the auspices of the Ministry of Sports and Hon. Minister Harin Fernando – Minister of Telecommunication, Foreign Employment and Sports, launched “Warak Wati Dewarak Nagi Siti Sinhayan Api”, a song to rally the country behind the team with the essence of ‘ONE TEAM ONE NATION’ as they prepare to participate in […]
Colombo Port container volumes up by 9.1-pct in April 2019
May 26, 2019 (LBO) – Colombo Port’s container volumes indicate a 9.1 percent increase in the month of April compared to the same period last year. Together with the Jaya Container Terminal (JCT), South Asia Gateway Terminal (SAGT) and the Colombo International Container Terminal (CICT), the Port of Colombo’s cumulative volume has been increased by […]
China quick to relax travel advisory for Sri Lanka
May 25, 2019 (LBO) – China has relaxed its travel advisory to Sri Lanka with language that says: ‘be cautious’ as opposed to language that says ‘do not travel.’ The total number of foreign arrivals from China to Sri Lanka are only behind India ,and have been relatively steady at over 265,000 for the past […]
Korea Eximbank to conduct feasibility study to establish land information service system
May 24, 2019 (LBO) – Recognizing the importance of efficient land management and its contribution to the economy, the Korea Eximbank is financing a comprehensive feasibility study to establish a Land Data Infrastructure (LDI) and Land Information Service System (LISS) in Sri Lanka as a grant under its technical assistance scheme. The Export-Import Bank of […]
Advocata supports recommendations from experts on restructuring of SriLankan
May 24, 2019 (LBO) – During the ten year period when the management of SriLankan Airlines was under Emirates, the airline enjoyed a decade of profits. This is in stark contrast to the period of 2009-2017, when SriLankan Airlines was under state management, and accumulated losses of Rs. 148,707 mn. The restructuring is critical as […]
Fitch upgrades Union & Cargills Banks; affirms 5 small & mid-sized Sri Lanka banks
May 24, 2019 (LBO) – Fitch Ratings Lanka has upgraded the National Long-Term Ratings of Union Bank of Colombo to ‘BBB-(lka)’ from ‘BB+(lka)’ and of Cargills Bank to ‘A-(lka)’ from ‘BB(lka)’ with stable outlooks. The agency has also affirmed the National Long-Term Ratings of Amana Bank, Nations Trust Bank, Pan Asia Banking Corporation, SANASA Development […]
FriMi from Nations Trust Bank continues to dominate digital banking in Sri Lanka
May 24, 2019 (LBO) – FriMi and in just a short span of two years, the first digital bank in Sri Lanka has completely changed the way banking and payments can be done. FriMi functions as a fully-fledged digital bank, mobile wallet and payment system wrapped into one solution. FriMi was created to provide the […]
Govt plans to construct two flyovers at Kohuwala and Gatambe
May 23, 2019 (LBO) – The Cabinet of ministers has approved plans to construct two more flyovers at Gatambe in Kandy and another in Kohuwala, Colombo. Accordingly a contact will be awarded to Betonutepito Compaby Pvt Ltd in Hungary for 52 million rupees and enter into necessary loan agreements, a statement said. The proposal was […]