Category: Industry
Russian Federation wants bigger trade with Sri Lanka; talks on Tea, asbestos
Jan 10, 2018 (LBO) – Russian Federation has vowed for bigger trade with Sri Lanka, calling to dispatch a strong delegation to the trade meet scheduled in Moscow this year. Sri Lanka’s total trade (both imports and exports) with the Russian Federation which was at 435.83 million dollars in 2015, declined to 381.71 million in 2016. […]
Piliyandala – from 15th century transit point to Colombo’s main transport hub
By Lanka Property Web Piliyandala, a popular suburb is located 18 KM south from Colombo. It ranks among the top suburbs in the western province due to population size and it’s surrounded by manybustling suburbs such as Maharagama, Moratuwa, Kesbawa and Pannipitiya. Piliyandalaconsistently managed to become a sweet spot for residences as it’s distance from […]
Aus-SL trade reaches AUD1.3bn with 27-pct growth in trade in services
Jan 09, 2018 (LBO) – Trade between Australia and Sri Lanka has surged to a record high of 1.3 billion Australian dollars in 2016-17, on the back of strong growth in trade in services, up more than 27 percent.Australian High Commission said the growth for the year overall was more than 15 percent, continuing the […]
SLAITO and THASL hail the upcoming promotion plan of Sri Lanka Tourism
(PRESS RELEASE) – In a joint communique, The Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotel Association of Sri Lanka (THASL) appreciated the efforts by Sri Lanka Tourism Promotions Bureau (SLTPB) and Sri Lanka Tourism Development Authority (SLTDA) to expedite the Digital advertising campaign planned for early 2018 and the Global advertising […]
Sri Lankan Banks to Step up Basel III Tier 2 Issuance: Fitch
Jan 08, 2018 (LBO) – Sri Lankan banks are likely to significantly boost issuance of Basel III-compliant Tier 2 instruments in 2018, says Fitch Ratings. Most banks will need to raise capital to meet higher Basel III requirements that take full effect in January 2019, and to support balance-sheet expansion, the rating agency said issuing […]
Rajagiriya flyover to open today, speed of vehicles to increase eight-fold
Jan 08, 2017 (LBO) – President Maithripala Sirisena will declare open the Rajagiriya flyover on January 08, providing long term solutions for the heavy traffic congestion in the area. Issuing a statement the Presidents media unit said that during the times of heavy traffic congestion in Rajagiriya, the speed of the vehicles moving on this road […]
Tourist arrivals to Sri Lanka up 3.2-pct in 2017 despite set-backs
Jan 05, 2018 (LBO) – Tourist arrivals to Sri Lanka has reached an all-time high of 2,116,407 in 2017 according to the latest data released by the Sri Lanka Tourism Development Authority.The arrival figure for 2017 represents a 3.2 percent growth or 65,595 more arrivals over the preceding year when the figure crossed the 2 […]
US GSP withdrawal not country-specific, Impact on total exports small: AmCham
Jan 05, 2018 (LBO) – The American Chamber of Commerce says the decision to withdraw the GSP form Sri Lankais not being country-specific and is one stemming from the US Congress simply not re-authorizing the program before adjourning for the year 2017. With effect from the 1st of January 2018, the United States’ Generalized System […]
2018 budget vs foreigners from buying property in Sri Lanka
The highly anticipated 2018 budget of the Sri Lankan Government concluded recently with a number of surprises that were not seen in budget proposals in the past few years. The targeted FDI inflows of 5 billion dollars into Sri Lanka was certainly one of them, while expecting to raise an impressive 110 billion rupees through […]
Banking sector to provide 25-pct average return over 1-Year: FC Research
Jan 04, 2018 (LBO) – First Capital Research expects the banking sector to have a steady phase during 2018E-20E with stable credit growth, improving GDP growth supporting lower Non Performing loans and lower interest rate volatility leading to stable net interest margins. “We expect our banking sector universe to provide 25% average return over 1-Year […]
‘s Sampath Bank introduces slip-less transactions
Jan 04, 2017 (LBO) – Sampath Bank has launched slip-less transactions to provide their customers greater convenience through a mobile app that is available on iOS and Android, a statement said. With the launch, the slip-less transaction facility will allow customers to carry out cash deposits and withdrawals without filling out any forms. The Bank […]
World Finance declares COMBANK best in Sri Lanka for Digital & Mobile Banking
(PRESS RELEASE) Presents awards for‘Best Digital Bank’ and ‘Best Mobile Banking Application’ in Sri Lanka in 2017 The Commercial Bank of Ceylon PLC has been recognised as the ‘Best Digital Bank’ in Sri Lankaand has been presented the award for the ‘Best Mobile Banking Application’by the prestigious London-based ‘World Finance’ magazine celebrating achievement, innovation and […]