Category: Industry
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 […]
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by segregating its operational assets and liabilities. The firm said in a stock exchange filing that the said assets and liabilities will be vested in the new limited company […]
Sampath Bank to raise Rs6bn in listed debt; Deshal resigns
June 30, 2017 (LBO) – Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they wanted to sell 40 million listed unsecured subordinated convertible debentures at 100 rupees […]
PUCSL asks power utility to develop 12 new generation scenarios
June 30, 2017 (LBO) – Sri Lanka’s Public Utilities Commission of Sri Lanka (PUCSL) has asked the Ceylon Electricity Board (CEB) to submit 12 scenarios which will provide different power plant combinations by 7th of July 2017. Issuing a statement the PUCSL said these scenarios should be developed with updated prices for coal, natural gas […]
Sri Lanka technical interns to be trained in Japan
June 29, 2017 (LBO) – Sri Lanka is to sign a memorandum of understanding with International Manpower Development Organization of Japan (IM Japan) to send technical interns to Japan for further training. The cabinet nod has been received to sign this agreement presented by Foreign Employment Minister Thalatha Athukorala, said Co-cabinet Spokesman Minister Gayantha Karunathilake, […]
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be quoted on the Colombo Stock Exchange. Siyapatha Finance said in a stock exchange filing that the company wants to sell 10 million listed rated unsecured subordinate redeemable […]
Sri Lanka tourism office grades restaurants in Colombo
June 29, 2017 (LBO) – Sri Lanka Tourism Development Authority (SLDA) has launched a project to encourage upgrading of food safety, hygiene and services of places supplying meals for foreign and local tourists. The project named “Certification Scheme for Tourist Friendly Eating Places” is carried out with the participation of the Health Ministry and Colombo […]
Asbestos industry warns of economic, social and environmental impact from ban
June 29, 2017 (LBO) – Sri Lanka’s Minister of Technology and Research said that he was awaiting reports regarding the safe use of Chrysotile, a type of asbestos from the Industrial Technology Institute (ITI), after he had been moved to research claims being made by industry players in the roofing sheet industry. “Policymakers are working […]
Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle. The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said […]
‘s SAGT goes live with Navis terminal system
June 28, 2017 (LBO) – Navis, a part of Cargotec Corporation, a provider of operational technologies and services across the shipping supply chain, said South Asia Gateway Terminal (SAGT) in the Port of Colombo has successfully gone live with Navis’ N4 terminal system and N4 Billing. “SAGT selected the Navis terminal system to better optimize […]