Category: Industry
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) – Sri Lanka’s Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with mandatory registration for the companies and amendments to the Act. “This is a national tragedy. It needs to be addressed in layers,” Mangala Samaraweera, Minister of Finance told reporters in Colombo, Thursday […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
Huawei seizes second place in global smartphone market in Q2
Aug 02, 2018 (LBO) – Huawei, a fast growing smartphone brand has seized second position in the global smartphone market with a total share of 15.8 percent in the second quarter of 2018 according IDC. Huawei invests into research and development (R&D) and over 10 percent of revenue is invested in R&D every year. According to Huawei’s […]
‘s Belluna launches leisure property in Galle
Aug 02, 2018 (LBO) – Sri Lanka’s Asia Leisure,in partnership with Belluna Co. Ltd, Japan opened its sixth leisure property ‘Le Grand’ in Galle recently. “Asia Leisure is one of the most widely recognized resort brands in the Country and together with Belluna Co. Ltd, Japan we are pleased to add this hotel to our family,” […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]
Susantha Ratnayake retires from Ceylon Tobacco Company
Aug 01, 2018 (LBO) – Chairman of the Ceylon Tobacco Company, Susantha Ratnayake has retired from the company with effect from yesterday after the completion of his term of five years as the Chairman and six years as a Non-Executive Independent Director.“During his tenure as a Director and Chairman of the Board, the Company as well […]
‘s Finance Minister raises taxes on small vehicles
Aug 01, 2018 (LBO) – Sri Lanka’s Finance Minister has signed the gazette notification to amend the excise duties of vehicles below 1000cc category with effect from 01 August 2018, the Finance Ministry said.Accordingly, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will […]
Ranatunga, de Silva deny match-fixing charges
Jul 31, 2018 (LBO) – Sri Lanka’s World Cup winning captain Arjuna Ranatunga and deputy Aravinda de Silva denied allegations made by former Cricket chief Thilanga Sumathipala that they accepted bribes from an Indian bookmaker. “Not 15,000 dollars, but we could have made 15 million dollars if we threw the world cup,” the 1996 World […]
Sri Lanka inflation up 5.4-pct in July
Aug 01, 2018 (LBO) – The year on year inflation as measured by CCPI is 5.4 percent in July 2018 while inflation calculated for June was 4.4 percent, data shows. The CCPI for all items for the month of July 2018 was 125.8 and it records an increase of 0.4 index points that is 0.29 percentage […]
Sri Lanka vehicle population grew by 7-pct in 2017; import expenditure up 5-pct
July 31, 2018 (LBO) – Sri Lanka’s motor vehicle population grew by 7 percent to 7.2 million in last year with import expenditure on motor vehicles also showing 5 percent growth, the annual report on the country’s motor vehicle market published by the Ceylon Chamber showed. According to the report, the year 2017 saw a […]
Sri Lanka launch tourist-friendly Tuk Tuk service
Jul 31, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe launched the country’s first ever tourist-friendly Tuk Tuk service at Galle Face Green, Monday. The project is implemented under the Budget proposals presented by Finance and Media Minister Mangala Samaraweera for the year 2018. Ministers Mangala Samaraweera, Japanese Ambassador in Sri Lanka Kenichi Suganuma, […]
Damro’s opens Rs 12.5Bn Marino Mall and hotel in Colombo
Jul 31, 2018 (LBO) – Damro Group opened the 12.5 billion rupee Marino Mall and Beach Hotel in Colombo 3, adding 289 star class rooms to Colombo’s hotel inventory, Monday. “We have invested over Rs 12.5 billion to build and open this hotel with 289 rooms including two suites,” Damitha Ramanayake, chairman and founder of Damro Group […]