Category: Industry
‘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 […]
Browns Beach Hotels to raise Rs1.4bn through rights issue
Aug 23, 2016 (LBO) – Sri Lanka’s Browns Beach Hotels is to raise 1.4 billion rupees by way of a rights issue subject to necessary approvals, the company said in a stock exchange filing. The company is to issue 54 million new ordinary shares at 25.85 rupees each in the ratio of 5 new shares […]
Asian Regulatory Reforms to Increase Appetite for Reinsurance: Fitch
Fitch Ratings-Singapore/Hong Kong-22 August 2016: Fitch Ratings believes that various regulatory initiatives in the region could lead indirectly to greater demand for reinsurance, as direct insurers rethink risk-management strategies and appetite. Asian regulators have implemented – or are in the process of implementing – a range of measures that would alter the operating and business […]
Suspension of melodious SriLankan pilot, too little too late
Aug 22, 2016 (LBO) – SriLankan Airlines, which usually gets in the spotlight for allegations of cronyism, has done a turnaround by suspending a pilot who failed a breathalyzer test. This may be a case of too little too late for the debt-laden airline. Sri Lankan flight UL 554 out of Frankfurt Germany on the […]
Ceylon Chamber launches TIPS for trade policies
Aug 22, 2016 (LBO) – The Ceylon Chamber of Commerce said it has launched “Trade Intelligence for the Private Sector” (TIPS), a platform to raise awareness on engagement with trade policy. “We recognized that Chamber members and the wider business community are interested in, and concerned about, the implications of trade liberalization and trade agreements […]