Category: Industry
USS Frank Cable Arrives in Sri Lanka today
Aug 29, 2016 (LBO) – The USS Frank Cable (AS-40) will arrive in Sri Lanka for a routine refueling and port visit on August 29. During the visit, sailors from the ship will enjoy shore leave and volunteer at an animal shelter, a statement said. USS Frank Cable (http://www.csp.navy.mil/frankcable/) is a submarine tender vessel stationed […]
‘s National Development Bank CEO to resign, Chairman retires
Aug 26, 2016 (LBO) – Chief Executive Officer of National Development Bank, Rajendra Theagarajah will resign with effect from November 30 and Chairman of the bank, N G Wickremeratne will retire on August 31 , a statement said. Ananda W Atukorala, had been appointed as a non-executive director and chairman of the bank subject to […]
Uber loses USD1.2 bln in first half on pricing battles
Aug 26, 2016 (LBO) – Ride-hailing company Uber Technologies Inc told its private investors that losses increased in the second quarter, even in the U.S., according to a Bloomberg report. In the first quarter of this year, on the whole, Uber lost about 520 million dollars before interest, taxes, depreciation and amortization, according to sources. […]
LAUGFS Lubricants opens Sri Lanka’s first Tribology Park
Aug 26, 2016 (LBO) – LAUGFS Lubricants has opened Sri Lanka’s first Tribology Park at the BOI Export Processing Park in Nittambuwa, for research and innovation dedicated to the areas of friction and lubrication. The facility offers a cutting-edge research and development centre, providing solutions especially customized for Sri Lankan driving conditions, a statement said. […]
‘s ECT
Aug 26, 2016 (LBO) – Sri Lanka is seeking a partner from the Indian subcontinent to develop a port designed to be its deepest and accommodate the world’s largest container vessels, Shipping Minister Arjuna Ranatunga told the Indian Express. The Sri Lanka Port Authority (SLPA) is looking for a foreign investor with about USD 400 […]
Sri Lanka opener T M Dilshan to retire from ODI Cricket
Aug 25, 2016 (LBO) – Sri Lanka’s opening batsman T M Dilshan has decided to retire from one-day cricket after the 3rd ODI in Dambulla, Sri Lanka Cricket announced. In a statement President of Sri Lanka Cricket Thilanga Sumathipala said Sri Lanka Cricket has decided to dedicate the 3rd ODI to be played on Sunday in Dambulla to […]
Visa opens up branch in Sri Lanka to boost electronic payments
Aug 25, 2016 (LBO) – A global leader in payments technology, Visa today announced the opening of a local office in Colombo and the appointment of Anthony Watson as the Country Manager for Sri Lanka. Visa has been present in Sri Lanka since 1989 and has consolidated its position as a market leader. Speaking at […]
Sri Lanka should develop Indian, Chinese markets: Tourism minister
Aug 25, 2016 (LBO) – Sri Lanka will be looking towards China and India for growth, in terms of geography, while looking for niche sector growth from MICE (meetings, incentives, conventions and exhibitions) and cruise tourism, a minister said. “Our target is to further increase the growing Chinese and Indian markets,” Minister of Tourism and […]
Sri Lanka level series despite Faulkner hat-trick
Aug 24, 2016 (Reuters) – Australia’s James Faulkner claimed his maiden hat-trick but could not deny Sri Lanka a series-levelling 82-run victory in the second one-day international on Wednesday. Faulkner dismissed Kusal Perera, Angelo Mathews and Thisara Perera to achieve the feat but ended up on the losing side as Australia, chasing 289 for win, […]
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen trade so as to increase competition in the industry in line with the 2016 budget proposals. At present 13 companies including Ceylon Petroleum Corporation and Lanka Indian Oil Company are engaged […]
Sri Lanka aims to build tourism momentum: OBG
Aug 24, 2016 (LBO) – Data from July indicates Sri Lanka’s tourist arrivals showing new momentum, with arrivals expanding by 19.1 percent y-o-y, the Oxford Business Group said in an economic note. Sri Lanka saw a sharp rise in tourism arrivals in the first half of the year, with inbound traffic up 16.7 percent year-on-year […]
Sri Lanka bottled water to have higher SLS standards
Aug 24, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority (CAA) will be enforcing plastic mineral water bottling standards starting September 1 following the authority detecting several brands using low quality bottles. “Low quality bottles affect the quality of water in bottles,” said Rishad Bathiudeen, minister of Industry and Commerce during a consumer review conducted […]