Category: Industry
‘s tourism skills development to start in East
Feb 09, 2017 (LBO) – Under the skills for inclusive growth program Australia will provide around 1.6 billion rupees in aid and technical assistance, to strengthen Sri Lanka’s tourism sector through training. “A profitable and sustainable tourism industry requires more than natural and cultural assets, which Sri Lanka has in abundance, it requires high-level hospitality […]
Maximum retail price for rice comes into force
Feb 09, 2017 (LBO) – Sri Lanka’s Consumer Affairs Authority has issued maximum retail prices for three varieties of rice while the minister in charge issued a stern warning to errant sellers across the country. The order is effective from Wednesday and is issued by CAA Chairman Hasitha Thilekeratne under Consumer Affairs Authority Act No […]
‘s Bank authorized capital
Feb 09, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to instruct legal draftsman to amend certain sections of People’s Bank Act which seeks to increase the authorized share capital of the Bank and to issue debentures without government guarantee. At the cabinet meeting held yesterday, Public Enterprises Minister Kabir Hashim has submitted the […]
Ceylon Motor Show 2017 in PICS
Feb 08, 2017 (LBO) – Automotive enthusiasts thronged the BMICH over the last weekend to be a part of the Ceylon Motor Show 2017, Sri Lanka’s single largest showcase of the very latest in the motor vehicle industry alongside their counterparts from the classic and vintage era dating back to the 1900s. Registering attendance in […]
Citizens Development Business (CDB) goes live with Intellect DIGITAL FACE
(PRESS RELEASE) – Customer centric Digital Channel solution with an omni-channel experience Intellect Design Arena Ltd, a digital technology product provider across Banking and Insurance, today announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s DIGITAL FACE, an Omni Channel solution catering to demands of the modern customers. CDB will now […]
SAITM says ready to forge ahead amid protests
Feb 08, 2017 (LBO) – South Asian Institute of Technology and Medicine (SAITM) says they are ready for the rough road ahead and will push ahead despite opposition from students and staff of state universities. “These protests are driven by politics and fear of competition,” Dr. Neville Fernando, founder and chairman of SAITM told reporters […]
Sri Lanka plans to generate electricity from tidal power
Feb 07, 2017 (LBO) – Sri Lanka plans a new project with Finnish assistance to generate electricity from tidal power, the power ministry said. Following a meeting with Ambassador of Finland to Sri Lanka Rauli Suikkanen, Ranjith Siyambalapitiya the minister for power and renewable energy said the ambassador had expressed his fullest support for the […]
Sri Lank plans annual shopping festival for foreign, local shoppers
Feb 03, 2016 (LBO) – Sri Lanka plans to commence an annual shopping festival with the participation of the Sri Lanka Retailers’ Association targeting both foreign and local shoppers. Representatives of companies such as The Factory Outlet, DSI, KPMG, Swarnamahal Jewellers, Hameedia, Singer, Softlogic Retail, Exclusive Lines and Mydeal.lk met with the Minister of Finance […]
South Korea court to declare shipping giant Hanjin bankrupt
Feb 02, 2017 (LBO) – South Korea’s shipping giant Hanjin Shipping is expected to be declared bankrupt this month, foreign media reports said. The Seoul Central District Court told media that it would end court receivership and declare the company bankrupt on February 17 following a two-week period for appeals. Demise of Hanjin Shipping is […]
Central Bank releases new publication “A Survey of Financial System”
(PRESS RELEASE) – The Central Bank today launched a new book titled “A Survey of Financial System” authored by Mr. P Samarasiri, Deputy Governor. This is the fourth book authored by Mr. Samarasiri and published by the Central Bank. The book’s presentation is targeted for students, teachers and policymakers who look for basics on financial […]
Pan Asia Bank gets 3 months to comply with interim capital requirements
Feb 01, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time period allocated to raise the interim capital requirement of Pan Asia Bank by three months. The bank said in a stock exchange filing that the Monetary Board of the Central Bank has extended the period to comply with the interim requirement from […]
‘s Rs.10.4Bn electricity connection deposits
Feb 02, 2017 (LBO) – Sri Lanka’s power regulator has issued guidelines to the Ceylon Electricity Board (CEB) and the Lanka Electricity Company (LECO) to pay interest on security deposits amounting to 10.4 billion rupees as of end 2014 of electricity consumers when providing a connection. “CEB has about 10.4 billion rupees deposit (end 2014) […]