Category: Industry
Sri Lanka ready to create artificial rain for hydropower generation
Jan 23, 2019 (LBO) – Ceylon Electricity Board and Sri Lanka Air Force today signed a memorandum of understanding to facilitate the project of creating artificial rain for hydropower generation. The Air Force has agreed to provide aircraft modified especially for this purpose while the Thai government is providing technical expertise for the project. Rainmaking […]
Sri Lanka obtains USD200Mn from WB for primary health care system
Jan 23, 2019 (LBO) – Sri Lanka is to obtain USD 200 million from the International Bank for Reconstruction and Development (IBRD) of the World Bank to implement the primary health care system strengthening project. The development objective of the proposed project is “to increase the utilization and quality of primary health care services, with an […]
Capitol TwinPeaks construction continues ahead of schedule: Sanken
Jan 23, 2019 (LBO) – Capitol TwinPeaks, the flagship venture of the Sanken Group, located on the Beira lakefront in Colombo 2, forges forward ahead of schedule with 35 floors completed to ensure timely delivery of their investment for maximum profitability, the Sanken Group said.The twin 50-storey skyscrapers feature green spaces, common areas and residential spaces, overlooking […]
SriLankan Airlines posts Rs40bn net loss for 9 months amid rising fuel prices
Jan 23, 2019 (LBO) – SriLankan Airlines said the net loss for the nine months ended 31 December 2018 was 40 billion rupees (USD135mn) against the loss for the corresponding period of previous year stood at 11 billion rupees (USD66mn). During this period, SriLankan’s net traffic revenue from core airline operations has increased to 120 […]
Chinese cement manufacturer to enter Sri Lankan market
Jan 23, 2019 (LBO) – A Chinese cement manufacturer is seeking to set up a new cement plant in the Hambantota Export Processing Zone in Sri Lanka. According to the Deputy Minister of Development Strategies and International Trade, Nalin Bandara, this is the first time a Chinese cement company is entering the local market directly. […]
BOI signs deal for mixed development apartment complex in Colombo 3
Jan 22, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with HNJ Towers private limited to build a mixed development project located at R A De Mel Mawatha, Colombo 3.Board of Investment said in a statement that when completed HNJ Towers will provide employment for 14 staff members. The total value […]
Facebook focuses on Digital Literacy to improve online safety in Sri Lanka
Facebook’s efforts to tackle misinformation, promote online safety in Sri Lanka and boost digital literacy skills were among several topics debated at a fireside chat on Saturday, held as a part of the Fairway Galle Literary Festival 2019. Speaking to an audience of authors, professionals, academics and journalists, Shelley Thakral – Facebook’s Head of Policy […]
Workshop on Hosptality Management by Prominant Consultant and Hotelier
Nirmalan Nagendra, Consultant, Hotel Advisory of KPMG, Colombo was the key speaker at the Hospitality Management Workshop on 11 January 2019, organized specifically for hoteliers by the Sri Lanka branch of the UK Charted Management Institute, and sponsored by Lithro Gas, Sri Lanka. General Managers, Excom Members, and Senior Managers of hotel trade featured at […]
Central Bank warns public of an ongoing phishing attempt targeting EPF
Jan 18, 2019 (LBO) – Central Bank advice general public and institutions to be alert of a phishing attempt that has been initiated targeting mainly the financial institutions of Sri Lanka. “It has been reported to the Central Bank that a phishing attempt has been initiated targeting mainly the financial institutions of Sri Lanka,” Central Bank […]
SriLankan fleet has one Airbus not in use; one engine fitted to another aircraft
Jan 18, 2019 (LBO) – SriLankan Airlines revealed that its fleet has one Airbus A330-200 aircraft bearing the serial number MSN-1008 and CAASL registration number 4R ALS that is not currently being used due to several reasons. The airline said they have removed one of the engines from this aircraft and fitted it to another […]
”’
Jan 18, 2019 (LBO) – Fitch Ratings has affirmed SriLankan Airlines Limited’s 175 million US dollars 5.3 percent government guaranteed bonds due 2019. The rating agency, however, said that the rating is not derived from its issuer’s standalone credit profile and is therefore not comparable with that of industry peers.Fitch has rated SriLankan Airlines’s US dollar-denominated […]
Govt calls for exploration bids in block M2, Mannar Basin
Jan 18, 2019 (LBO) – Sri Lanka’s government has called for international competitive bids for exploration and development activities in Block M2, Mannar Basin, the Petroleum Resources Development Secretariat said.The M2 Block covering approximately 3,500 km2, has two gas discoveries, Dorado 91H/1z and Barracuda 1 G/1 and a number of un-drilled prospects, it added.The bidders are expected […]