Category: Industry
Korea Eximbank to establish two vocational training institutes
Nov 23, 2016 (LBO) – The Export-Import Bank of Korea (Korea Eximbank) will support establishing two vocational training institutes in Sri Lanka, namely, Vocational Training Centre in Colombo Central and College of Technology in Gampaha. “As Sri Lanka aspires to become an upper middle-income country, it will need to bridge the gap between the industry […]
Sri Lanka condominium developers welcome budget 2017
Nov 22, 2016 (LBO) – Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a number of progressive proposals to […]
Chinese-made city near Singapore to reshape real estate
Nov 22, 2016 (LBO) – A 100 billion dollar Chinese-made city in Malaysia, near the border of Singapore, is set to reshape real estate in the region. Country Garden’s Forest City, on four artificial islands, will house 700,000 people on an area four times the size of New York’s Central Park, Bloomberg reported. Construction began […]
Seylan Bank adds Factoring to portfolio of services
Nov 21, 2016 (LBO) – Seylan Bank says it has added Factoring to its portfolio of services offering a wider choice of working capital financing options. This service is available for any type of business ranging from SMEs, corporate as well as start-ups, the bank said in a statement. Factoring allows generating cash flow without […]
Sri Lanka to finalize Hambantota port deal by next month
Nov 18, 2016 (LBO) – Sri Lanka expects to finalize the deal with regard to the loss-making Hambantota port within three weeks, Ports Minister said. Minister Arjuna Ranatunga told Parliament Friday that under the new arrangement, the port will be operated as a PPP venture project between Sri Lanka and Chinese investors. “A Chinese company […]
Sri Lanka hotels report sharp rate growth of 15 pct: STR
Nov 18, 2016 (LBO) – A study by analytics firm STR shows that Sri Lanka’s hotel market recorded strong performance growth through September 2016, driven by a sharp increase in the average daily rate (ADR). In year-over-year comparisons with the first nine months of 2015, Sri Lanka hotels reported a 15 percent increase in ADR […]
Sri Lanka power regulator worried over delayed power plant construction
Nov 18, 2016 (LBO) – Sri Lanka’s Public Utilities Commission has issued a directive to CEB expressing its grave concern over the delay in constructing the power plants according to the approved Least Cost Long Term Generation Expansion Plan (LCLTGEP). “The Public Utilities Commission of Sri Lanka approved the LCLTGEP on 15th of September 2016 and it […]
Sri Lankan real estate sector sees office demand spike: OBG
Nov 18, 2016 (LBO) – The office segment of Sri Lanka’s property market is likely to see rising levels of activity over the next few years, as developers scramble to bridge a shortage of premium space, the Oxford Business Group said. There is an expanding gap between available space and demand in Colombo, according to […]
Anantaya – Chilaw wins at World Luxury Hotel Awards 2016
(PRESS RELEASE) – Anantaya Resort & Spa – Chilaw did Sri Lanka proud on the global tourism stage, grabbing the Country Award for Luxury Hotel and Conference Centre in addition to walking away with the coveted Regional Award for Luxury Wedding Destination at the 2016 World Luxury Hotel Awards ceremony held in Qatar. Setting a […]
SLT to power Lanka Government Network, LGN 2.0
Nov 17, 2016 (LBO) – Sri Lanka Telecom has been chosen as the total communication service provider and communication infrastructure provider to the Lanka Government Network, in a collaborative move by the national government and the Information and Communication Technology Agency of Sri Lanka (ICTA), a statement said. The LGN is a strategic project produced […]
Sri Lanka Water Board may incur Rs9bn loss in 2017
Nov 17, 2016 (LBO) –Sri Lanka’s state-owned water supplier has warned that it may suffer from a loss of 9 billion rupees next year if the proposed tariff increase was not granted. Water Supply Minister Rauff Hakeem told reporters in Colombo that the Sri Lanka Water Board is not currently a loss making institution. “But […]
Sri Lanka offers long-term contracts to import refined petro products
Nov 17, 2016 (LBO) –Sri Lanka’s cabinet has granted its approval to offer three longer term contracts to Indian and Singapore companies to purchase refined petroleum products to meet the country’s demands. These contracts cover a period of 8 months starting December this year as the existing contracts for purchase of refined petroleum products have […]