Category: Industry
Sri Lanka exporters await confirmation of RAMIS
Dec 09, 2016 (LBO) – Sri Lanka’s Exporters Association, which represents a majority of the island’s exporters, has urgently called upon the Finance Ministry to confirm that RAMIS will be fully implemented, and that it will be operational by January 2017. Paperless SVAT system provided exporters with a significant level of relief towards the constraints […]
Samsung designs all-screen front for Galaxy S8 phones
Dec 08, 2016 (LBO) – World’s biggest smartphone vendor Samsung is planning to create an all-screen front for the Galaxy S8 smartphones coming out next year, reports said. A virtual home button will also be included in the screen while scrapping the physical home button and embedding the fingerprint sensor also in the display. The […]
200 Chinese couples eye mass wedding in Sri Lanka
Dec 08, 2016 (LBO) – Sri Lanka’s capital Colombo has been chosen by 200 Chinese couples to hold a mass wedding event. Tourism Development Minister John Amaratunga told Parliament today there is growing interest among the Chinese and Indians to hold mass weddings in Sri Lanka. “Already, reservations have been made for 200 Chinese couples […]
Sri Lanka to ink JV with Chinese firm to develop southern port
Dec 07, 2016 (Reuters) – Sri Lanka will take part in a joint venture with China Merchants Port Holdings Company Limited to develop a port in its south, where China has also been offered an investment zone. The cabinet approved a plan under which Sri Lanka will lease 80 percent of the Hambantota port to […]
Sri Lanka’s first management accreditation for tourism unveiled
Dec 07, 2016 (LBO) – Sri Lanka’s first ever professional management accreditation for its surging tourism and hospitality sector has been unveiled in Colombo. Certified Management Accountants Sri Lanka has introduced this specialized Finance and Management Accounting programme for the hospitality industry in collaboration with Sri Lanka Institute of Tourism and Hotel Management. Inaugurating the […]
Solar can already generate more energy than oil: study
by Nafeez Ahmed While the world has been going crazy, solar has quietly tipped over the edge and kicked oil and gas off the cliff of history. A new scientific review finds that scientists are dramatically underestimating the efficiency and power of solar panels, because their data is at least seven years old. And that’s […]
Fitch rates Bank of Ceylon subordinated debt final AA(lka)
Fitch Ratings Lanka has assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) proposed Basel II-compliant subordinated debentures of up to LKR8bn a final National Long-Term Rating of ‘AA(lka)’. The final rating is the same as the expected rating assigned on 25 October 2016, and follows the receipt of documents conforming to information already received. The proposed issuance, […]
Ceylinco Life’s income tops Rs 17 billion in nine months
Dec 06, 2016 (LBO) – Ceylinco Life has reported total income of 17.165 billion rupees for the nine months ending 30th September 2016, reflecting growth of 15.3 per cent over the corresponding period of last year. Premium income for the nine months improved by 11 per cent to 11 billion rupees, while investment and other […]
London Stock Exchange Group opens new tech facility in Sri Lanka
Dec 06, 2016 (LBO) – London Stock Exchange Group (LSEG) yesterday announced the opening of its new state-of-the-art technology facility in Sri Lanka. Headquartered in the TRACE Expert City precinct of Colombo, the new technology hub was opened by the Prime Minister of Sri Lanka, Ranil Wickremesinghe and LSEG Chairman, Donald Brydon. A delegation including […]
Visitors to Sri Lanka up 16-pct in Nov 2016, 2 million target in sight
Dec 06, 2016 (LBO) – Tourist arrivals to Sri Lanka in November rose by 16 percent to 167,217 arrivals with Chinese and Western European markets continuing their growth momentum. In the first 11 months arrivals rose to 1.82 million, up by 14.7 percent, making two million mark for the year achievable. December is likely to be […]
Sri Lanka tile importers commend support from budget
Dec 05, 2016 (LBO) – Sri Lanka’s Tiles and Sanitary Ware Importers Association (TSIA) have welcomed the support of Budget 2017 for maintaining the reduction on import tariffs on tiles and sanitary ware. “Tiles and sanitary ware today, has become a commodity that has defined itself as a basic need. These entities are no longer […]
Sri Lanka tourism daily rate performance ahead of peers: STR
Dec 05, 2016 (LBO) – Sri Lanka’s 15.6 percent increase in the average room or daily rate (ADR) for tourism during the first ten months of the year puts its performance ahead of other countries in Southeast Asia in terms of rate growth, including, India, Thailand, Philippines, Malaysia, Vietnam and Indonesia, STR said in a […]