Category: Industry
‘s, Explores FTA option
Jan 25, 2018 (LBO) – President of Indonesia Joko Widodo in the island on a offical vist met with Sri Lanka’s President and exchanged views on the progress and challenges in the bilateral cooperation and agreed to enhance cooperation for the mutual benefit. President Widodo conveyed Indonesia’s commitment to contribute towards Sri Lanka’s development, particularly in infrastructure and connectivity. Both […]
Sri Lanka to develop policy framework for beauty culture industry
Jan 23, 2018 (LBO) – Sri Lanka seeks to develop a policy framework for beauty culture industry, in order to ensure the expansion, development and further uninhibited expansion and success of the sector.Policy Development Office of the Prime Minister’s Office and the Small-Scale Enterprise Division of the Ministry of National Policy and Economic Affairs is […]
‘ defensive cash flows: Fitch
Jan 23, 2018 (LBO) – Hemas Holdings acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings said. Last week, Hemas agreed to buy a 75.1 percent stake in Atlas for 5.7 billion rupees. Atlas has a strong distribution […]
SriLankan records highest ever monthly operating revenue in December
SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, achieved the highest ever monthly revenue in Company history in December 2017. The air-transport operation of the Company recorded a stand-alone revenue of US Dollar 100.1 million – the first instance in the 38-year history of the airline where monthly […]
Sri Lanka signs FTA with Singapore tomorrow
Jan 22, 2018 (LBO) – A Free Trade Agreement between Sri Lanka and Singapore will be signed following bilateral talks between the two nations, Tuesday. Prime Minister of Singapore Lee Hsien Loong is to arrive in Sri Lanka on the invitation of Sri Lanka’s President Maithripala Sirisena, Monday. Last week, Sri Lanka’s Cabinet approved a […]
Hemas Holdings to acquire stationery manufacturer Atlas
Jan 19, 2018 (LBO) – Hemas Holdings has entered into an agreement to acquire 75.1 percent stake of Sri Lanka’s leading stationery manufacturer Atlas for 5.7 billion rupees. Hemas said in a statement that the acquisition of Atlas will increase the group’s presence in the fast-moving consumer goods space.“Atlas will become the third largest business […]
SLT launched country’s first, purpose built tier 3, National Data Centre
SLT announces grand opening of the state-of-the-art Tier 3 “National Data Center” in Sri Lanka Sri Lanka’s First “Purpose built Tier 3 Data Centre” First “Green Gold Certified Data Centre” in Sri Lanka First Network Function Virtualization ready Data Centre in South Asia Together with Ministry of Telecommunications and Digital Infrastructure (T&DI) […]
Action has taken to address issues highlighted in Weliamuna report: SriLankan
Jan 18, 2018 (LBO) – SriLankan Airlines says contrary to popular belief, its Director Board have taken all action possible to address internal & disciplinary issues highlighted in JC Weliamuna Report. Releasing a statement, the national carrier said the following statement will clarify the position of the actions taken by the Board of Directors of […]
2018 FIFA World Cup Trophy Tour to Sri Lanka for first time next week
Jan 17, 2018 (LBO) – FIFA World Cup Original Trophy will arrive to Sri Lanka on 23rd January for the first time in country’s history. On 22 January, the international leg of the FIFA World Cup Trophy Tour by Coca-Cola kicks off in London, United Kingdom before visiting 51 countries on all six continents. The […]
Sri Lanka’s cabinet approves signing FTA with Singapore
Jan 17, 2018 (LBO) – Sri Lanka’s Cabinet has approved a proposal to sign the proposed Free Trade Agreement between Sri Lanka and Singapore. The proposed Free Trade Agreement consists of provisions regarding trade in goods and services, service liberalization, investments and public procurement. Following the proposal put forward by International Trade Minister Malik Samarawickrama, […]
Emirates special fares 2018
(PRESS RELEASE) – Emirates is making it even more attractive for travellers from Sri Lanka to enjoy new destinations and experiences in 2018. For a limited time, travellers can avail of special offers on Economy and Business class fares to a wide range of cities across the globe. Bookings have to be made between 16th […]
Indian govt to develop KKS harbour at a cost of USD 45Mn
Jan 16, 2018 (LBO) – The Government of India will rehabilitate and upgrade the Kankesanthurai (KKS) Harbour as a commercial port at a cost of US 45.27 million dollars, the Finance Ministry said in a statement. The project will be financed through a line of credit from the Export-Import Bank of India (Exim Bank). Preliminary Hydrographic survey geo-technical investigation, preparation of detail […]