Category: Industry
‘s residential and retail markets beyond 2019: JLL
Mar 26, 2018 (LBO) – Sri Lanka’s residential real estate sector, especially high end condominiums,faces over supply challenges, with the recent re-imposition of 15 percent VAT on condominium sales, denting sentiment while retail markets too demonstrate less sustainability, real estate consultancy Jones Lang La Salle (JLL) said. JLL recently announced the company’s predictions for Sri Lanka’s […]
Sampath Bank and Ustocktrade LK link to simplify investment in foreign securities
Mar 26, 2018 (LBO) – Sampath Bank PLC has entered into a Memorandum of Understanding (MoU) with Ustocktrade LK (Private) Ltd (ULPL) to enable investors pay conveniently when trading in securities listed on stock exchanges across the United States of America (USA) through the Ustocktrade app. Under this agreement, Sampath Bank Personal Foreign Currency (PFC) accountholders […]
Sri Lanka plans to issue licenses for electricians from October
Mar 23, 2018 (LBO) – Sri Lanka’s electricity sector regulator, Public Utilities Commission is planning to implement a mechanism to establish an accepted professional status for electricians in the country by issuing licenses from 1st of October 2018. The proposed mechanism plans to establish this status by accrediting the qualifications and experience of the electricians. Director General […]
IFC to loan USD 15Mn to Senkadagala Finance
Mar 23, 2018 (LBO) – Sri Lanka’s Senkadagala Finance will get loan of up to US15 million dollars from the International Finance Corporation (IFC), a statement said.“The signed agreement with IFC for the loan would be in Sri Lankan rupees,” the Finace Company said in a stock exchange filing, Thursday.The loan would focus on lending to […]
The One, landmark mixed development to cost USD500Mn plus
Ultra luxury, state of the art hospitality, breathtaking surroundings, signature amenities, world class dining experiences, three towers comprising two luxury hotels [ a total of 473 KEYS ], a luxury retail mall, a commercial office complex which will be the last word in Corporate ambience and style, as well as 638 beautifully crafted apartments , […]
Multi Finance PLC enables sustainable transactions with “Each One Plant One” campaign
With a proud heritage of over 4 decades in business, Multi Finance PLC has been a source of strength to businesses, and entrepreneurs in the urban rural and SME markets, playing a pivotal role in contributing to the growth of the Sri Lankan economy. Governed by the Central Bank and listed in the Colombo […]
Orion City and Dialog partner to build High Density Data Centre
Mar 21, 2018 (LBO) – Sri Lanka’s Dialog Axiata Group announced a joint venture partnership with Orion City to build and manage the island’s first ever High-Density Data Centre at the Orion City IT Park in Colombo. The proposed centre will be established through Digital Realty (Pvt) Ltd, a company jointly held by Dialog Broadband Network […]
National Financial Inclusion Strategy of Sri Lanka by mid-2019
Mar 21, 2018 (LBO) – Sri Lanka’s Central Bank expects to implement the National Financial Inclusion Strategy of Sri Lanka by mid-2019, Dr. Indrajit Coomaraswamy said in Colombo, Tuesday. “For successful implementation of this process high level political commitment is required,” the Central Bank Governor said. “Most of all, active participation and commitment of all stakeholders who […]
Brandix and VTA signs MoU for skills development in apparel industry
Mar 20, 2018 (LBO) – Brandix Group and the Vocational Training Authority of Sri Lanka (VTA) recently signed two Memoranda of Understanding (MoU) denoting a collaboration to break new ground in skills development for the apparel sector. The first of these agreements facilitates the creation of an NVQ Level 5 equivalent qualification for Garment Technicians […]
SriLankan Airlines relocates FlySmiLes Service Centre
FlySmiLes, the frequent flyer programme of SriLankan Airlines, has relocated its Service Centre, in order to provide an enhanced service to its members in Sri Lanka and around the world. The new FlySmiLes Service Centre is located at Iceland Business Centre No.30, Sri Uththarananda Mawatha, Colombo 03(Colpetty). It is open for business from Monday to […]
Dialog invests Rs262.5mn for new Data Centre JV in Sri Lanka
Mar 20, 2018 (LBO) – Dialog Broadband Networks, a fully owned subsidiary of Dialog Axiata has entered into a joint venture with St. Anthony’s Property Developers to establish, operate and manage a Data Centre in Sri Lanka. As per the shareholders agreement signed between both parties on 16 March 2018, Dialog Broadband Networks (Private) Limited […]
Sri Lanka lifts ban on Facebook
Mar 15, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed the Telecommunications Regulatory Commission to lift the ban on popular social media site Facebook, immediately. “On my instructions, my secretary has discussed with officials of Facebook, who have agreed that its platform will not be used for spreading hate speech and inciting violence,” the […]