Category: Industry
Korea Eximbank discusses Kandy traffic network with RDA
Dec 05, 2016 (LBO) – Export-Import Bank of Korea (Korea Eximbank) has begun supporting the connectivity plan of the traffic network in Kandy city through a knowledge sharing program, with a delegation holding its first workshop last week. Korea Eximbank intends to share the traffic network expansion experience of Korea to strengthen accessibility between Northern […]
‘s Cargills Bank gets Theagarajah as Joint Deputy Chairman
Dec 05, 2016 (LBO) – Sri Lanka’s Cargills Bank has appointed sector veteran Rajendra Theagarajah as the Joint Deputy Chairman. He will be joined by Ranjit Page. “We are cognizant of the exemplary service that Theagarajah has rendered to the banking industry and we are confident that Cargills Bank would immensely benefit from his business […]
Sri Lanka bus operators strike against fines; commuters stranded
Dec 02, 2016 (LBO) – Several private bus unions resorted to an islandwide strike from midnight last night against the budget proposal to increase traffic fines, resulting in a major inconvenience to the public. Sri Lanka Transport Board requested police protection for buses in operation today as several buses had been attacked. General Secretary of […]
‘s trade potential
Dec 02, 2016 (LBO) – U.S. and Sri Lankan officials have held three seminars on trade policy to unleash the island’s trade potential, a statement said. The U.S. Department of State, in cooperation with the U.S. Department of Commerce, and Sri Lanka’s Department of Commerce held these seminars with more than 70 decision makers and […]
Sri Lanka tourism growth requires continuous effort: ForwardKeys
Dec 02, 2016 (LBO) – Flight bookings for travel to Sri Lanka during the next five months shows a modest 1.3 percent growth compared with the same time last year, according to tourism analytics firm ForwardKeys. The insights come from their analysis of 16 million flight bookings made by travel agents, research that was presented […]
SriLankan airlines to fly to Gan Island
(PRESS RELEASE) – SriLankan Airlines will consolidate its traditional positioning as the largest airline operation in the Maldives, by commencingservices to Gan Island on 1st December 2016, in the Indian Ocean island nation.Thus SriLankanAirlines will become the only airline to operate international flights toGan International Airport, with four flights per week. Accordingly, Gan Island operations will […]
‘s maintains stable outlook on Sri Lankan banking sector
Dec 01, 2016 (LBO) – Moody’s Investors Service has maintained its stable outlook on Sri Lanka’s banking system, as moderate economic growth and reduced external volatility should keep operating conditions for the country’s banks stable. “Continued strong loan growth may put downward pressure on asset quality and liquidity conditions, but nonperforming loan (NPL) ratios will […]
Comm Bank, Dunamis Capital and Aitken Spence win at CSE Masterminds 2016
(PRESS RELEASE) – Commercial Bank of Ceylon PLC won the inaugural capital market quiz organized by the Colombo Stock Exchange (CSE) recently. Dunamis Capital PLC and Aitken Spence PLC emerged as the First and Second Runners-Up of the competition, which was held at the CSE Trading Floor. The competition, for which entrance was exclusive and […]
Sri Lanka approves two wind power plants in Chunnakam
Dec 01, 2016 (LBO) – Sri Lanka’s cabinet has given the approval to award tenders establish two wind power plants of 10 megawatts each in Chunnakam. “The government has paid its attention on generating a larger portion of electricity requirement by renewable energy sources and it is proposed to establish solar and wind power plants,” […]
New legal framework for solar in Sri Lanka, no more licences
Nov 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL), has decided to remove the legal barriers for consumers who wish to enter into electricity generation based on solar power. “It has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power […]
Sri Lanka to improve essential utility services in Western Megapolis
Nov 30, 2016 (LBO) – Sri Lanka’s cabinet has granted approval to improve new utilities and infrastructure required for the Western region Megapolis. It is expected that there will be an increased demand for essential utility services such as transport, electricity, water, drainage and waste disposal with the implementation of the main plan of the […]
Seylan secures a USD 15 mln term facility from UAE
Nov 30, 2016 (LBO) – Seylan Bank has successfully raised a 5-year 15 million US dollar facility from the National Bank of Ras Al Khaimah (RAKBANK) of the United Arab Emirates, the bank said in a statement. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole […]