Category: Industry
SriLankan Airlines adds Melbourne to network from October
May 29, 2017 (LBO) – SriLankan Airlines will be establishing its presence in Australia with daily non-stop services to Melbourne commencing October 29th this year, the airline said. The non-stop services will also facilitate passengers from the Middle East and South Asia seeking onward connectivity via Colombo to/from Australia, a statement said. “This also means […]
Developer reacts to CB Governor’s comments on apartment industry
(PRESS RELEASE) Responding swiftly and strongly to the statement made by the Governor of the Central Bank with regard to the apartment development industry, stalwarts of the industry have stated that it was irresponsible and damaging. “I know we are living in a post truth world, but some of the broad generalizations made by the […]
Dialog starts operations of 4.5G LTE home broadband in Colombo
Sri Lanka achieved yet another milestone on the region’s broadband technology landscape this week, as Dialog Axiata announced the launch of its commercial 4.5G TDD LTE network. The roll-out of South Asia’s first commercial 4.5G TDD LTE network with Dialog’s Home Broadband services will be initially available in selected zones in the city of Colombo, […]
DFCC sells stake in Commercial Bank to subscribe for rights issue
May 25, 2017 (LBO) – Sri Lanka’s DFCC Bank Wednesday sold 1.18 percent of the issued voting shares in Commercial Bank, the bank said in a stock exchange filing. Accordingly, 10 million shares were sold at 138 rupees per share, and the bank has recognized a net capital gain of 915 million rupees. Commercial Bank’s […]
Huawei launches GR5 2017 Premium in Sri Lanka
(PRESS RELEASE) – Huawei, the leading smartphone brand in Sri Lanka recently introduced the Huawei GR5 2017 Premiumedition to the Sri Lankan public. The new smartphone series showcases a stylish and value packed exterior along with technologically advanced features and functionality. The device optimizes its offerings in the form of a dual-back, professional level camera […]
Sri Lanka to build 1,040 MW hybrid energy park in Punarin
May 24, 2017 (LBO) – Sri Lanka’s cabinet has approved a proposal to build an energy park of 1,040 MW of power in Punarin area in line with the government’s policy. Under this proposal, construction of a hybrid energy park consisting of 240 MW of wind power and 800 MW of solar power will be […]
”s Bank buys PMF land in Colombo
May 24, 2017 (LBO)- People`s Merchant Finance (PMF) had sold its 108-perch property in Colombo 02 to People’s Bank for 1.04 billion rupees in order to help settle debt. “The funds will be used to strengthen the finance company’s core capital in order to meet minimum capital requirements under the finance companies directive no. 01 […]
‘s Commercial Bank offers e-FDs for foreign currency accounts
May 24, 2017 (LBO) – Sri Lanka’s Commercial Bank’s Online Banking platform has been further enhanced with the introduction of electronic fixed deposits (e-FDs) in both local and foreign currencies. The Bank has announced that e-FDs can now be opened from the Bank’s online portal at www.combank.lk “We are aware that there is a lot […]
Dialog paves way for 5G with successful MIMO trial
May 24, 2017 (LBO) – Sri Lanka’s Dialog Telecom said they have successfully completed a trial of next-generation, MIMO (Multiple-Input Multiple-Output) Technology. “In the race to 5G with unprecedented improvements in network throughput and capacity, MIMO is considered the most compelling technology with superior energy and spectral efficiency,” the company said in a statement. “Dialog […]
‘s retail sector, says Takas CEO
May 24, 2017 (LBO) – Sri Lanka’s online retail sector is booming, which poses a threat to traditional retail stores. Online stores too are battling it out for market share. Lanka Business Online spoke to Lahiru Pathmalal, the CEO of Takas.lk, one of the top online retailers in the island, to find out how the […]
‘s Lakdhanavi to build power station in Bangladesh
May 23, 2017 (LBO) – Sri Lanka’s Lakdhanavi, the power generation arm of LTL Holdings, has been awarded a contract by Bangladesh Power Development Board (BPDB) to construct a 114 MegaWatt thermal power plant in the country. The award was through international competitive bidding process, the company said a statement. The Company expects to finance […]