Category: Industry
Sri Lanka blocks Facebook, Instagram to prevent spread of hate speech
Mar 07, 2018 (LBO) – Sri Lanka has temporarily blocked social media web sites like Facebook, Instagram and WhatsApp to avoid the spread of hate speech in the country.The Cabinet Spokesman Minister Rajitha Senaratne on Wednesday said the government has decided to block access to certain social media. Telecom Regulatory Commission (TRC) has started to […]
How can a business achieve continuous growth and stability?
(PRESS RELEASE) – ezBiz App is an all-in-one solution offered to help small and medium scale businesses achieve growth and stability. thinkCube, which is a SaaS vendor offers ezBiz App as a service for small and medium scale businesses and is proud to announce the fact that ezBiz is currently one of the first SaaS […]
Laugfs Gas restructures to create opportunities for investors and foster growth
Mar 07, 2018 (LBO) – Sri Lanka’s a Laugfs Gas PLC announced a strategic restructuring to consolidate dominance in energy operations and create opportunities for investors to invest in individual businesses and foster concentrated growth opportunities, a senior official said Tuesday. “Once the segregation is completed by 31st March as expected, all different entities will […]
Central Bank cancels CIFL license; legal action against responsible parties
Mar 05, 2018 (LBO) – Monetary Board of the Central Bank has decided to cancel the licence issued to CIFL under the Finance Business Act with effect from today. Director of the Department of Supervision of Non- Bank Financial Institutions of the Central Bank has also decided to cancel the Certificate of Registration as a […]
Not expecting rise in domestic interest rates: CB
Mar 05, 2018 (LBO) – Sri Lanka’s Central Bank responding to misleading news reports said it is not expecting a rise in domestic interest rates in the period ahead. “Based on its current projections, an increase in market interest rate is not expected in the near term,” the bank said issuing a statement regarding false […]
Techneed makes foray in to Sri Lankan IoT industry
Techneed (Pvt) Ltd., One of Sri Lanka’s growing high-tech IoT start-ups, today announced the deployment of its “Nurve IOT Gateway” in one of the largest Telecommunications Service Provider in Sri Lanka. Essentially the gateway enables the Service Provider to centrally monitor the environment variables in the Machine room, such as Temperature, Humidity, Movements, Water level, […]
Sri Lanka to establish accepted professional status for electricians
Mar 05, 2018 (LBO) – Sri Lanka’s power regulator said it will establish an accepted professional status for electricians in the country through accrediting their qualifications and experience. The proposed mechanism was developed by Public Utilities Commission of Sri Lanka (PUCSL) in collaboration with the Institution of Engineers Sri Lanka (IESL), Tertiary, Vocational Education Commission […]
Sri Lanka PM reiterates island on track for economic prosperity
Mar 05, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said that the island is on the path of becoming an attractive place for business in South Asia and one of the fastest growing regions in the world. “We are undertaking many policy initiatives to incentivize direct private investment both foreign and local. In 2018, […]
Opinion: Why Sri Lanka’s financial services industry need to be data governed & data driven?
By Jithendra Antonio The Impact of Big Data on Products and Services The quality of data used in every business is more important in today’s global business landscape. Our world is changing at a rapid pace as organizations and societies are digitizing faster and moving online and mobile to conduct business. We have more people […]
‘s Basel III sub debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures a National Long-Term Rating of ‘A(lka) ‘. The notes will total LKR7.5 billion, 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. The bank plans […]
Ericsson and Dialog partner to roll out first commercial IoT network in Sri Lanka
Mar 02, 2018 (LBO) – Dialog Axiata PLC, a local telecommunications provider, and Ericsson have rolled out the first commercial Massive IoT network supporting both Cat-M1 and NB-IoT technologies in South Asia. Deployed across Dialog Axiata’s Sri Lankan network,the advanced mobile network technology will help accelerate the proliferation of IoT devices, the company said in […]
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]