Category: Industry
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
MBSL announces changes in MIDCAP with year-end index rebalance
In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock market Index: the “MBSL MIDCAP Index”, which measures the aggregate price level and price movements of medium-sized companies listed on the Colombo Stock Exchange (CSE). The index which came into operation in the Year 1999 is revised annually and […]
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Jan 02, 2019 (LBO) – Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’. The notes, which will total LKR7 billion and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank […]
Sri Lanka and Nepal to strengthen economic cooperation
Jan 02, 2018 (LBO) – The Embassy of Sri Lanka in Nepal, together with the Nepal- Sri Lanka Chamber of Commerce and Industry organized a programme on “Promotion of Economic relations between Sri Lanka and Nepal” at Hotel Radission in Kathmandu, recently. Sri Lanka’s Ambassador to Nepal Swarna Perera and President of the Nepal- Sri […]
‘s Dialog announce live transmission of South Asia’s first 5G pilot
Jan 01, 2019 (LBO) – Dialog Axiata announced the commissioning of South Asia’s first fully functional and standards compliant 5G transmission using commercial grade base stations and end user devices. Dialog’s pre-commercial 5G transmission was enabled in collaboration with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) who has lead the region in making available […]
‘s annual smartphone shipments exceed 200Mn units
Jan 01, 2019 (LBO) – HUAWEI Consumer BG announced recently that its global smartphone shipments for the 2018 year have exceeded 200 million units, thanks to the enthusiastic support of consumers and partners around the world, as well as the strength of the smartphone products launched in 2018, including the HUAWEI P20 and Mate 20 […]
Colombo Port handles record breaking 7-millionth container for 2018
Dec 31, 2018 (LBO) – Colombo Port on Monday handled its seven millionth container (TEU) at the Jaya Container Terminal of Sri Lanka Ports Authority with joint marketing strategies carried out by three terminals, JCT, SAGT, and CICT. The function was graced by new Ports Minister Sagala Rathnayake with the participation of the Secretary of […]
CICT ends 2018 with 2.65mn TEUs, 38-pct of Colombo Port’s volume
Dec 31, 2018 (LBO) – Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 percent increase in its annual throughput and contributing 38 percent of the Port of Colombo’s volumes in the year just concluded. A significant factor in the achievement of 7 […]
Laugfs Gas to infuse Rs1.1bn for expansion of its LPG Transshipment Terminal
Dec 27, 2018 (LBO) – Laugfs Gas will infuse 1,150 million rupees for the expansion of its LPG Transshipment Terminal facility located at Hambantota International Port, the company said in a stock exchange filing. Under the expansion plan, the storage capacity of the terminal to be extended up to 45,000 MT from 30,000 MT supporting […]
‘s Ken Hu expresses confidence in business
Dec 28, 2018 (LBO) – Huawei rotating Chairman Ken Hu issued a strong message of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies, and hundreds of millions of consumers. Huawei’s 2018 revenue, he said, was expected to exceed US$100 billion. He was […]
Sri Lanka vehicle registration down in Nov 2018
Dec 26, 2018 (LBO) – Vehicle registration momentum across most categories came down in the month of November relative to October 2018, a new report said. Data compiled by JB Securities equities research shows total car registrations recorded 3,354 units in Nov down from 5,826 units in Oct but up from 2,400 units 12 months ago. […]
IBM appoints Riza Wadood as new Country General Manager for Sri Lanka
IBM (NYSE: IBM) today announced the appointment of Riza Wadood as the new Country General Manager for Sri Lanka. This leadership announcement further demonstrates IBM’s commitment in the region. In his new role, Riza will be responsible for business growth and leadership of IBM in Sri Lanka. He will lead the team to support the […]