Category: Industry
Sri Lanka Cricket captain Mathews resigns amidst losing streak
July 12, 2017 (LBO) – Sri Lanka Cricket captain Angelo Mathews has tendered his resignation amid the national team experiencing a losing streak. Sri Lanka Cricket today called a special press conference to announce the new positions. Dinesh Chandimal has been appointed as the new Test Captain while Upul Tharanga has been appointed as the […]
Odel plans USD106mn mixed development project in Sri Lanka
July 12, 2017 (LBO) – Odel Properties One (Private) Limited, a fully owned subsidiary of Odel, has entered into an agreement with Sri Lanka’s Board of Investment to set up a mixed development project. Odel said in a stock exchange filing that as per the agreement signed on 30th June 2017, the envisaged investment will […]
UNDP to help uplift local SMEs through National Trade Fair
July 11, 2017 (LBO) – The United Nations Development Programme (UNDP) Sri Lanka will organize Aadhayam 2017, a national trade fair, to help businesses expand and promote innovation, employment, skill development and local enterprise. Aadhayam 2017 will create a favorable platform for Sri Lankan small and medium sized enterprise to connect with larger markets and expand business […]
HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri Lanka on 1 July, which is credit positive, Moody’s said in a analysis. Last week, the bank received shareholder approval for a 15 billion rupees right issue and the […]
Srilankan Airlines recruits 20 management trainees
July 11, 2017 (LBO) – State-run SriLankan Airlines has recruited 20 management trainees, following a one-year training programme, to absorb new blood into the organization, the company said in a statement. The company has taken six batches of management trainees in the past and the current intake was inducted in June 2016. The finance ministry […]
SriLankan Airlines, CEB, CPC record Rs30bn loss in first 4 months
July 10, 2017 (LBO) – State-owned carrier Sri Lankan Airline, main power supplier Ceylon Electricity Board and Ceylon Petroleum Corporation together have recorded a loss of 30 billion rupees in the first four months of this year, a treasury report showed. Sri Lankan Airlines The total loss of Sri Lankan Airlines increased by 55 percent […]
‘s first TIER III Certified Data Centre and Media Hub
(Press Release) – Dialog Axiata Group announced last Friday, the commissioning of Sri Lanka’s first Tier III certified data Centre and media bub. Dialog, Sri Lanka’s premier connectivity provider and a leader in the provision of world class enterprise solutions was recently awarded a TIER III Constructed Facility Certification (TCCF) from the UPTIME Institute for […]
India will move on ETCA at a pace set by Lanka: envoy
By P.K. Balachandran Assuaging fears that India is set to “impose” an Economic and Technical Cooperation Agreement (ETCA) on Sri Lanka, the Indian High Commissioner in Sri Lanka, Taranjit Singh Sandhu, has said that India is ready to move on the ETCA at a pace Sri Lanka is comfortable with. “The proposed Economic and Technical […]
Mannar identified for major tourism development: Ministry
The Ministry of Tourism Development has identified Mannar District for major tourism infrastructure development projects. Already over Rs. 40 million has been spent on making the beach areas tourist friendly and many other projects are being planned in order to make the district the main hub for tourism in the region. During a discussion between […]
No reason for qualified hoteliers to look for jobs overseas: Amaratunga
July 04, 2017 (LBO) – Sri Lanka’s Minister of Tourism Development John Amaratunga says that there is no longer any reason for our qualified hoteliers to look for jobs overseas as their income will be greater if they stay here. “Today we have a serious issue with regard to manpower in the tourism and hospitality sectors. The […]
China boasts 100 tech unicorns and eight decacorns
July 04, 2017 (LBO) – China now boasts at least 100 tech companies worth over one billion dollars each, called unicorns, and eight companies valued at over 10 billion dollars each, called decacorns in the global tech industry. They include Ali Baba’s Ant Financial, ride-sharing giant Didi Chuxing, smartphone-maker Xiaomi and Tencent Music. According to […]
GSP Plus could add USD350 mln in export revenue, improve FDI: Min
July 03, 2017 (LBO) – GSP plus eligibility could add 350 million dollars in export revenue to Sri Lanka, while increasing potential for FDI, the minister for industry and commerce said. “The enhanced market access that Sri Lanka gets from EU GSP+ is very significant,” said Minister Rishad Bathiudeen. “In fact, according to the Department […]