Category: Industry
AmCham hosts Stephen Renna from U.S. Department of Commerce
(PRESS RELEASE) – Stephen Renna, Director, Advocacy Center, U.S. Department of Commerce, International Trade Administration will meet with members of the American Chamber of Commerce in Sri Lanka this Friday. The meeting will focus on initiatives being carried out by the Advocacy Center to boost business for U.S. companies as well as an open discussion […]
‘s Biz climate
Feb 08, 2018 (LBO) – A Japanese business delegation, including chief executive officers and leading officials of some of the largest companies is visiting Sri Lanka to look at future investment opportunities, the Board of Investment said. A delegation of 59 are visiting the island on invitation of the Prime Minister and participated at the Sri […]
Sri Lanka Tourist arrivals up 12.6-pct in Jan 2018
Feb 07, 2018 (LBO) – Tourist arrivals to Sri Lanka rose 12.6 percent from a year earlier to 246,972 in January 2018 with Indian visitors taking the lead, official data shows. Arrivals from India were up 40 percent from 31,173 to 43,643 in January from an year ago. However Chinese arrivals were down 22 percent to […]
Sri Lanka Malabe – Fort LRT project to commence by Dec 2018
Feb 06, 2018 (LBO) – Sri Lanka’s Ministry of Megapolis and Western Province Development says that preliminary work on the Light Rail Transport (LRT) project between Malabe and Fort will commence by end of the year once the feasibility study completed in June.“We are currently in the process of doing the feasibility study for six LRT […]
Fitch assigns Lankaputhra first-time BBB-(lka) rating; outlook positive
Fitch Ratings has assigned Lankaputhra Development Bank Limited (LDB) a National Long-Term Rating of ‘BBB-(lka)’. The Outlook is Positive. KEY RATING DRIVERS LDB’s National Long-Term Rating reflects Fitch’s expectation that the bank would receive extraordinary support from the Sri Lankan sovereign, if required. Fitch believes the sovereign’s propensity to extend support to the bank stems […]
Germany’s Allianz SE to buy Janashakthi General Insurance for Rs16.4bn
Feb 02, 2018 (LBO) – Janashakthi Insurance is selling its general insurance business to Allianz SE in Germany for 16.4 billion rupees subject to adjustments, the company said in a stock exchange filing. Janashakthi Insurance said the transaction is subject to several conditions precedent which have to be satisfied by the parties, including addressing any […]
Sri Lanka signs the Framework Agreement on International Solar Alliance
Feb 02, 2018(LBO) – The High Commissioner for Sri Lanka in India, Chitranganee Wagiswara signed the Framework Agreement of the International Solar Alliance (ISA) at the Ministry of External Affairs of India in New Delhi, recently. Once the Agreement is ratified, Sri Lanka will become a founding member of the International Solar Alliance. With a […]
‘s LOFC acquired a 100 percent shares of LOLC Micro Credit
Feb 01, 2018 (LBO) – LOLC Finance PLC (LOFC) said the company has acquired a 100 percent shares of LOLC Micro Credit for 12.3 billion rupees. The shares were brought at 156.18 a share, the Company said in a stock exchange filing. LOFC Finance acquired 80 percent of LOLC Micro Credit from the parent company for […]
NDB closes 2017 with 41-pct growth in PBT to Rs7.5bn
National Development Bank PLC (NDB) completed the financial year 31 December 2017 with impressive performance across all fronts. Commenting on this performance, the Chief Executive Officer of the Bank, Mr. Dimantha Seneviratne stated that 2017 has been a highly satisfactory year, during which the Bank stabilized its base, gathered rapid growth momentum and delivered enhanced […]
”s Supreme Global Holdings
Feb 02, 2018 (LBO) – Supreme Global Holdings, and Alibaba Group owned “Alitrip” which is now called “Fliggy”, launched the “Sri Lanka Pavilion” in “Fliggy’s tourism platform that will target to bring a million new Chinese tourists to Sri Lanka every year. The grand launch was made in Beijing, Tuesday. Alibaba, setting new standards in its […]
Walkers Colombo Shipyard completes construction of its fourth vessel
Walkers Colombo Shipyard (Private) Limited, a subsidiary of MTD Walkers PLC, has successfully completed the construction of its fourth vessel, a 10 ton bollard pull tug ‘Seagulf 3’.The tug designed and constructed entirely by in-house team of highly skilled naval architects and engineers under the guidance of Dr.Sarath Obeysekera, Managing Director of Walkers Colombo Shipyard […]
Sri Lanka launches retirement living with Catalina Villas
Jan 31, 2018 (LBO) – Granite Capital announced the launch of Catalina Koggala, a first-of-its-kind residential community villa development targeting the fast growing ageing population in the island. The project will comprise 22 villas on 5.75 acres of land surroufnded by paddy fields near the Koggala Lake where Catalina flying boats coming from Australia used to […]