Category: Industry
Sri Lanka’s first 7-star apartment complex to start construction
Jan 17, 2017 (LBO) – Sri Lanka’s first seven-star luxury apartment complex, Achilleion, is set to commence construction work this week, its developers said. Achilleion is undertaken by Blue Mountain Apartments which is part of the Blue Mountain Group. Located on Station Road, Colombo 04, this apartment complex comprises of two 50-storied skyscrapers, connected by […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]
Hayleys unveils Sri Lanka’s largest capacity solar power plant in Welikande
Jan 16, 2016 (LBO) – Hayleys Group PLC, together with Windforce Pvt Ltd, have commissioned their 10 megawatt solar power plant. Located in Welikande in the Pollonnaruwa District, the solar plant has been installed with a solar tracking system that will follow the sun’s rays to ensure an incrementally higher yield of approximately 20 percent […]
Sri Lanka prepared for power crisis in 2017: Minister
Jan 16, 2017 (LBO) – Sri Lanka’s power minister says that steps have been taken to face the hydro power generation loss due to the record drought in 2016. Nevertheless, consumers are advised to conserve electricity. “We have only 36 percent capacity in our Randenigala, Victoria, Samanala … reservoirs because of the drought and this dry spell is […]
Sri Lanka ratifies the ILO Maritime Labour Convention
Jan 16, 2016 (LBO) – Sri Lanka recently deposited the instrument of ratification with the International Labour Office (ILO) of the Maritime Labour Convention, 2006 (MLC, 2006), a statement said. The island is the 81st ILO member State and the 16th Asian State to have ratified the Convention and the MLC, 2006 will enter into force […]
Australia to boost Sri Lanka tourism skills with Rs1.6 bln
Jan 13, 2017 (LBO) – The Australian government will provide 1.6 billion rupees in aid and technical assistance, over four years, to strengthen Sri Lanka’s tourism sector, through training and mentoring for employees and small businesses. The program will help Sri Lanka develop a highly-skilled labour force and place Sri Lanka as a premier tourist […]
Trade deficit narrows in Sept, cumulative exports down 3pct
Jan 13, 2017 (LBO) – Sri Lanka’s trade deficit narrowed in September 2016 with an increase in export earnings for the second consecutive month, together with a reduction in import expenditure. Earnings from exports grew by 5.7 per cent to 898 million dollars in September, compared with 850 million dollars in the same month in […]
Airport running smoothly despite day-time runway shut down : SriLankan
(PRESS RELEASE) – Wednesday, January 11, 2017, Colombo: SriLankan Airlines is pleased to note that despite the closure of the runway during the daytime hours from 6th January to 6th April 2017, its services and operations at the Bandaranaike International Airport in Katunayake are proceeding seamlessly, with minimal inconvenience for both inbound and outbound tourists. The […]
Fitch affirms nine Sri Lankan banks, revises sector outlook to negative from stable
Jan 13, 2016 (LBO) – Fitch Ratings, a credit ratings agency has affirmed the long-term issuer default ratings (IDRs) of nine local banks and revised its sector outlook to negative from stable, a statement said. It affirmed the National Savings Bank (NSB) at ‘B+’; Outlook Negative, Bank of Ceylon (BOC) at ‘B+’; Outlook Negative and […]
Sri Lanka calls international bids to add 60MW to national grid
Jan 11, 2017 (LBO) – Sri Lanka’s cabinet has decided to purchase 60 megawatts of power through an open international competitive bidding process for a short term period of six months starting from February. This 60MW is to be installed at three or more suitable locations to ease the transmission constraints that has arisen in […]
‘s GSP+
Jan 11, 2017 (LBO) – The European Commission said it proposed to the European Union to remove significant import duties on Sri Lankan products, to restore GSP Plus trade access to Europe’s export market. “The Commission today proposed that a significant part of the remaining import duties on Sri Lankan products should be removed by the […]
New offers for Sri Lankan travelers on Emirates
(PRESS RELEASE) – Sri Lanka, 11 January 2017 – New year, new adventures. Emirates is making it even more attractive for globalistas travelling from Sri Lanka to say “hello” to new destinations and experiences in 2017 with its offer of special fares to a wide range of cities across six continents. The sale, commencing on […]