Category: Industry
President inaugurates 4th SAARC Public Procurement Conference
(PRESS RELEASE) – The Fourth South Asia Region Public Procurement Conference commenced under the patronage of President Maithripala Sirisena in Colombo, Monday. The Conference will continue until February 23 in Colombo and Kandy. The Conference is an annual learning, knowledge and experience sharing, and networking event for the Heads of Public Procurement Agency or Authority […]
Sri Lanka may stop hydro power generation by end April
Feb 20, 2017 (LBO) – Sri Lanka will have to stop hydro power generation by the end of April if the prevailing dry weather condition continues, the power minister said. Power Minister Ranjith Siyambalapitiya participating in Kegalle Development Committee meeting today stated that priority has to be given to save water for drinking and not […]
Sri Lanka Participates in SATTE Travel Exhibition in New Delhi, India
(PRESS RELEASE) – Forty seven Sri Lankan companies, Sri Lanka Tourism Promotion Bureau and Sri Lankan Airlines participated at the South Asia Travel & Tourism Exchange (SATTE) 2017 which is one of the largest travel and tourism exhibitions held in India. Galadari Hotel, Hilton Hotel, Kingsbury Hotel, Jet Wing Travels (Pvt.) Ltd., Aitken Spence Travels, […]
World’s largest car, truck carrier to call at Hambantota port
Feb 20, 2017 (LBO) – MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC), belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at Hambantota port during the first week of March 2017 under its local agency Diamond Shipping Services (Pvt.) Ltd. The vessel is plying under MIAF service (Middle East, […]
Sri Lanka-Singapore FTA to be finalised in 2017: Singapore PM
Feb 20, 2017 (LBO) – The Free Trade Agreement (SLSFTA) between Sri Lanka and Singapore will hopefully be finalised this year, Singapore Prime Minister Lee Hsien Loong said following a dinner with Premier Ranil Wickremesinghe. In a FB post on Saturday, Lee said, “We talked about the FTA that we are negotiating, which we hope to […]
J L Morisons to build USD13.5mn drug manufacturing plant
Feb 17, 2017 (LBO) – Sri Lanka’s J L Morison Son and Jones (Ceylon) has resolved to make an investment of 13. 5 million US dollars in constructing a new pharmaceutical manufacturing plant. The company said in a stock exchange filing that this research and manufacturing facility will be located within the SLINTEC Nano Technology […]
Waters Edge breaks ground for mega sports centre
Feb 16, 2017 (LBO) – Sri Lanka’s Urban Development Authority together with the Sports Ministry aims to create a recreation, leisure and sports facility on the far side of the Waters Edge water front. With the aim of introducing sports tourism to Sri Lanka, various sports associations and bodies will be able to utilize the […]
Google loon may leave Sri Lanka, corruption accusation baseless: Harin
Feb 16, 2017 (LBO) – Sri Lanka’s controversial Google loon pilot project may be withdrawn from the country as a result of a spectrum issue with the International Telecommunication Union, the telecommunications minister said. Harin Fernando told reporters Thursday that Sri Lanka has so far delayed facilitating pilot tests by allocating the required spectrum of […]
Sri Lanka to import 40,000MT of edible oil, Reduce levy on coconut oil
Feb 16, 2017 (LBO) – Sri Lanka’s Cabinet has approved to amend the special commodity levy on coconut oil and related products to allow importation of 40,000 metric tonnes edible oil required for 04 months. Coconut Research Institute has forecasted that the coconut harvest may decrease from 13.9 percent in January – August 2017 compared to […]
Sri Lanka senior citizens’ deposits up to Rs1.5Mn to get higher interest
Feb 15, 2017 (LBO) – Sri Lanka’s Finance Ministry said that it will increase the upper limit up to 1.5 million rupees for 15 percent special interest paid on fixed deposits maintained by senior citizens. Director General of Department of Development Finance said the treasury will pay 18,000 million rupees to cover the difference during the […]
‘s national insurance scheme
Feb 15, 2017 (LBO) – Sri Lanka has taken a step forward in its policy making by introducing a national insurance scheme, the World Food Program said. Executive Director of World Food Program Ertharin Cousin said that the WFP can provide technical assistance to deal with natural disasters such as floods, earth slips or drought. “Technical assistance […]
Sri Lanka’s Sampath Bank profits surge 67-pct in Dec quarter
Feb 14, 2017 (LBO) – Shareholder profits at Sri Lanka’s Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter from a year earlier, interim accounts showed. The group reported earnings of 14. 44 rupees per share for the quarter against 8.91 rupees per share last year. For the year ended […]