Category: Industry
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 […]
Sri Lanka – India to co-operate in IT and electronics fields
Jan 16, 2018 (LBO) – India’s Minister of Law and Justice and Electronics and Information Technology, Ravi Shankar Prasad signed a co-operation deal in IT and electronics with Sri Lankan counterpart, Harin Fernando, Minister of Telecommunication and Digital Infrastructure.The new Memorandum of Understanding will be a Joint Declaration of Intent for a pilot project on E-Office suite […]
Fitch rates Sampath Bank Basel III sub debt A(lka)(EXP)
Jan 12, 2018 (LBO) – Fitch Ratings has assigned Sampath Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’. The notes will total 7.5 billion rupees, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. […]
“Enterprise Sri Lanka” to be launched in March: Fin Min
Jan 12, 2018 (LBO) – Sri Lanka’s Government will disburse 60 billion rupees through state and private banks while the Treasury will set aside 5 billion rupees to reimburse interest to banks as part of the Budget 2018’s “Enterprise Sri Lanka” program to create new entrepreneurs. Minister of Finance and Mass Media MangalaSamaraweera said that one of the […]
CEAT Kelani to invest Rs3Bn in local tyre industry , Eyes US market
Jan 11, 2018 (LBO) – Sri Lankan tyre manufacturer, CEAT Kelani said they will invest 3 billion rupees in the local industry over next two years. Unveiling its masterplan to local media the Indo-Lanka Company said it will set up a new truck bus radial tyreplant while also doubling production of radials and motorcycle tyres and […]