Category: Industry
SriLankan Airlines adds new routes Jakarta, Gan Island
Oct 05, 2016 (LBO) – SriLankan airlines said in a bid to boost regional routes and higher profits it will add Jakarta in Indonesia and Gan Island in Maldives to its destinations from end of October 2016. “Gan, in the Maldives, will be the first such new destination, and SriLankan will be the only international […]
Sri Lanka tourist arrivals grow 3.6 pct in September
Oct 05, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 3.6 percent in September to 148,499 visitors compared with the same month last year, official data showed, a slower rate of growth compared to previous months. Arrivals during the first nine months of the year were up 14.6 percent to 1,508,405 visitors. China continued […]
UNDP signs Rs20 mln biogas agreement with Kaduwela MC
Oct 04, 2016 (LBO) – The United Nation Development Programme (UNDP) entered into its first government co-financed project with the Kaduwela Municipal Council to effectively manage solid waste in the area to generate bio gas energy. “The 20 million rupees agreement signed today between UNDP and the Kaduwela Municipal Council will scale-up this initiative to […]
The RIU investor roadshow London 2016 kick-off
(PRESS RELEASE) – The RIU Investor roadshow in London 2016 kicked off on Saturday at the Sri Lankan Medical and Dental Association Dinner dance which was held at the Radisson Edwardian hotel in West London. The occasion was graced by over 300 doctors, dentists and professionals from the medical association residing in the UK. As […]
SriLankan Airlines cancels Airbus deal with USD98 mln penalty
Oct 04, 2016 (LBO) – An order for four A350 aircraft that SriLankan Airlines was to take delivery of in 2016-2017 would be cancelled, the Finance Minister said Tuesday. “The loss of purchasing these four A350 air buses would have been 900 million rupees per month and if we did not reject this it would […]
Sri Lanka’s Power Ministry rules out electricity tariff increase
Oct 04, 2016 (LBO) – Sri Lanka’s Power Ministry has informed the Public Utilities Commission that they are not expecting to increase electricity tariffs to cover up a possible increase of cost. The cost of electricity production for the six month period starting from this month is expected to increase due to drought and special […]
Sri Lanka’s CEB proposes tariff increase or subsidy to cover revenue gap
Oct 03, 2016 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has proposed that the power regulator approves a uniform tariff or a subsidy through the budget to ensure financial viability of the sector. In a letter to the Public Utilities Commission, the CEB said that in August, PUCSL requested an End User Tariff proposal […]
PwC and SLASSCOM join hands to empower startups in Sri Lanka
In a joint effort to empower startups in the country, PwC Sri Lanka has joined hands with SLASSCOM (Sri Lanka Association for Software and Services Companies) to introduce Sri Lanka to Europe’s largest and leading annual startup and technology event, SLUSH, while also giving local startups a unique opportunity to help solve pressing challenges the […]
Himalaya launches direct flights between Kathmandu – Colombo
Oct 03, 2016 (LBO) – Himalaya Airlines, a Nepal-China Joint Venture Airline, has conducted its maiden commercial flight from Kathmandu to Colombo on 1st October 2016. With two flights a week, operating as H9 673, Himalaya will fly every Tuesday and Saturday departing from Tribhuvan International Airport, Kathmandu at 1130 hours and will arrive in […]
SriLankan Airlines renegotiates A350 contracts: report
Oct 03, 2016 (LBO) – National carrier SriLankan Airlines has re-negotiated the termination of three A350 Airbus lease contracts with airline leasing company AerCap, a media report said. The company has agreed to reduce the termination fee to 98 million dollars from 154 million dollars, a Sri Lankan Airlines official told the Sunday Times on […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]
Sri Lanka’s Central Bank allows foreign investors full control: CIFL
Sep 29, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says the Monetary Board has assured that investors would get 100 percent control once the proposed investment materializes. Clarifying a newspaper report, CIFL said that such intervention would be subject to other circumstances of the mechanism of proposed investment. The investors have […]