Category: Industry
‘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 […]
BOI inks deals in tourism and pharmaceutical sectors
Dec 21, 2018 (LBO) – The Board of Investment signed Agreements for projects in the field of hotels and the manufacture of pharmaceuticals. The Agreements were signed on behalf of the BOI by the Chairman Hemasiri Fernando. Also present was Champika Malalgoda, Director General of BOI. The Wild Beach Resorts (Private Ltd) project is to […]
Sri Lanka’s Commercial Bank to raise Rs15bn through listed debenture
Dec 20, 2018 (LBO) – Sri Lanka’s listed Commercial Bank plans to raise as much as 15 billion rupees from an issue of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they seek to issue 75 million debentures at 100 rupees each with a […]
Tenure of Presidential Comm. to inquire into SriLankan Airlines extended
Dec 20, 2018 (LBO) – President Maithripala Sirisena has extended the term of office of the Presidential Commission to inquire into allegations of large-scale frauds and malpractices in SriLankan Airlines, SriLankan Catering Ltd and Mihin Lanka (Pvt) Ltd, to February 15, 2019. The President appointed this Commission on February 14, 2018, to inquire into allegations of […]
Hayleys Advantis unveils Sri Lanka’s largest distribution hub
Dec 19, 2018 (LBO) – Hayleys Advantis ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-Ela as part of the company’s expansion efforts aimed at serving its clients better through greater efficiencies and economies of scale. The company said the move bodes well for the nation’s vision […]
‘s Softlogic Life
Dec 19, 2018 (LBO) – LeapFrog Investments, a leading profit with purpose investor, today announced a USD 12 million dollar investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank. The company, growing at 2x the market, is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual […]
Prof. Rohan Samarajiva awarded SLT Zero-One lifetime achievement award
LIRNEasia founding Chair Prof. Rohan Samarajiva received the SLT 01 Lifetime Achievement Award at a gala ceremony held earlier this week.The award was given him “for the yeoman contribution he has made over the years as a public policy maker and advocate to influence access to cost-effective and high-quality digital infrastructure for all Sri Lankans”. […]
Ceylon Chamber facilitates efficient document approval process for exporters
Dec 18, 2018 (LBO) – A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) recently, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU provides for the Ceylon Chamber of Commerce to use the e-DAS system […]
‘s Port of Colombo
Dec 17, 2018 (LBO) – A high profile delegation of the United States headed by Deputy Assistant Secretary at the United States Bureau of South and Central Asian Affairs David Ranz has made a special visit at the Colombo Port last Thursday. Sri Lanka Ports Authority said the delegation was welcomed by the Chairman of […]
Hayleys Energy commences first oil and gas drillship lay-up at Hambantota, Sri Lanka
Dec 17, 2018 (LBO) – Sri Lanka’s Hayleys Energy Services announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the Hambantota International Port. Aban Offshore Limited, the company that own the vessel, is India’s largest offshore drilling services provider to oil companies, providing drilling operations, production and exploratory work […]