Category: Industry
FDI key for trade and export growth: Chinese Minister
Oct 13, 2016 (LBO) – Foreign direct investment (FDI) plays a very important role for a country to develop its trade and export growth, a senior Chinese official said. “FDI is important for trade growth as it brings money, technological advantages and the latest management ideas which drive indigenous and innovative growth,” Wang Shouwen, Vice […]
Sri Lanka to provide adjustment package for FTA trade disruption
Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur during the initial stages of upcoming free trade agreements, a senior minister said. International Trade Minister Malik Samarawickrama said they are negotiating new FTAs with an open mind but […]
‘s Belluna in USD 50mn real-estate project
Oct 12, 2016 (LBO) – Sri Lanka’s Asia Capital and Japanese Belluna company announced the launch of an apartment development project with an investment of 50 million US dollars in Colombo, Wednesday. “This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects […]
Social, environmental considerations a must in trade: World Export forum
Oct 12, 2016 (LBO) – Trading countries should look at multilateral levels with regional trade agreements alongside transformation in investment, trade and services, an official said at the World Export Development Forum in Colombo on Wednesday. “The trade agreements of the 21st century must respond to the economic and social realities of the century,” said […]
Sri Lanka GSP plus talks to commence in Brussels: PM
Oct 12, 2016 (LBO) – Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) plus negotiations. “I am traveling to Brussels on Saturday to begin talks on restoring GSP plus,” Wickrememsinghe said at the inauguration of the World Export Development Forum in Colombo, […]
Asian Alliance changes name to Softlogic Life Insurance
Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the company said in a stock exchange filing. The move comes after Asian Alliance Insurance sold its stake in Asian Alliance General Insurance business. On 24th June 2016, the company agreed to […]
Asian shares mixed, oil jumps on output curb expectations
SINGAPORE, Oct 11 (Reuters) – Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton’s widening lead in the U.S. presidential election campaign pushed Wall Street higher. Brent crude rose to as high as $53.73 on Monday, the highest level since Oct. […]
Sri Lanka to limit water supply, Colombo consumption up
Oct 10, 2016 (LBO) – Sri Lanka’s Water Supply and Drainage Board has decided to limit its pump water supply in the island due to the prevailing drought condition amid increased consumption. K Alahudeen Ansar, chairman of the board, told LBO that water consumption in the Colombo District alone has increased by about 15 percent […]
Sri Lanka has too many telcos, 2017 to be transformative year: Harin
Oct 10, 2016 (LBO) – Sri Lanka’s Minister of Digital Infrastructure and Telecommunication says that the island needs to look at ways of reducing it’s telecommunication providers as it is over crowded. “We have five companies in Sri Lanka which is too much,” Harin Fernando, Minister of Digital Infrastructure and Telecommunication said. “We are trying to look at ways […]
Expo paves way for faster subcontinent cross border logistics
Oct 10, 2016 (LBO) – Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks & Spencer crossed over seamlessly to India from Bangladesh, following a trading agreement. This is the first occasion a truck carrying cargo was allowed to cross over to […]
JICA to help plan Kandy development with UDA
Oct 10, 2016 (LBO) – The Urban Development Authority of Sri Lanka and Japan International Cooperation Agency (JICA) will enter into technical cooperation to formulate the urban development environment of Kandy. JICA will support with detailed urban plans, urban design guidelines, regulations to protect heritage city areas, sustainable systems and strategic investment proposals to implement […]
‘s Elephant House pours soft drinks into Europe
Oct 07, 2016 (LBO) – Sri Lanka’s iconic Elephant House has signed up with a UK-based bottling facility for the production of 1.5 litre PET plastic variants of its much-loved Necto, Cream Soda and Orange Barley beverages. With a view to increase exports into the European market, this bottling deal immediately targets expansion into key […]