Category: Industry
‘ dollar sales
July 8 (Reuters) – The Sri Lankan rupee ended firmer in one-week forwards on Friday, as foreign banks sold dollars on behalf of offshore investors to buy local bonds, dealers said. The spot rupee is tightly managed by the central bank and market participants use the forward market levels for guidance on the currency. Dealers […]
Brexit won’t have major impact on Sri Lankan apparel: Colombo Chamber
July 08, 2016 (LBO) – Sri Lanka needs to develop a strong local economy that is not vulnerable to changes caused by international incidents, president of Colombo Chamber of Commerce, Dr. Amila Kankanamge said expressing his views on Britain leaving the European Union. Even though Brexit may not have a large impact on the Sri […]
Sri Lanka power regulator warns CEB on long term generation plan
Jul 07, 2016 (LBO) – Sri Lanka’s Public Utilities Commission (PUCSL) has warned that immediate action was necessary and that the Ceylon Electricity Board needs to expedite its submission of the Least Cost Long Term Generation Expansion Plan (LCLTGEP) 2015 – 2034 with the relevant changes. “You are required to submit the LCLTGEP 2015 -2034 […]
Sri Lanka up two notches in Networked Readiness Index 2016
July 07, 2016 (LBO) – Sri Lanka has been ranked 63rd among 139 countries in the 2016 Networked Readiness Index showing a marginal improvement on its previous 65th place rank in 2015. The island nation ranked 76th in 2014 and 69th in 2013 in the Networked Readiness Index. The index measures how economies use the […]
Sri Lanka to improve vehicle registration system with E-Motoring
July 07, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to improve the vehicle registration process at the Motor Traffic Department with the introduction of an E-Motoring Project. Ministerial Committee on Economic Management has recommended the cabinet to implement the project as a build, operate and transfer project.The project is expected to introduce […]
‘s One Account to meet long felt need in banking, wealth management
July 07, 2016 (LBO) – Sri Lanka’s NDB Bank recently launched “One Account” to meet a need in the retail affluent segment, a bundled offering of a current account together with a credit card and a high-yielding money market fund. Given the disjointed products currently offered to consumers in the banking industry, with inadequate returns, […]
Port City to increase local and foreign real estate demand: RIU
Jul 07, 2016 (LBO) – Colombo Port City project now incorporated under the overall Megapolis plan will create a rising demand for real-estate from local and foreign investors alike, a research firm said. “The projects impact on the Colombo real estate market will be a long-term consideration” Research Intelligence Unit (RIU), a firm which specialize in real-estate […]
CA Sri Lanka unveils innovative executive & postgraduate diploma for executives
In remaining relevant amidst increasing challenges in the corporate world, the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) unveiled it’s newly revamped Executive Diploma in Accounting, Business & Strategy, and the Postgraduate Diploma in Business Finance & Strategy. The two programmes which takes on a progressive learning methodology, […]
Sri Lanka to collaborate with Guangdong Gems and Jade Exchange
Jul 05, 2016 (LBO) – Sri Lanka Gem and Jewellery Association (SLGJA) together with the National Gem and Jewellery Authority signed a Memorandum of Collaboration with the Guangdong Gem and Jade Exchange to develop more trade opportunities. “The agreement signifies a new phase of development between the trades of Sri Lanka and China to explore further mutual-beneficial cooperation […]
Motor car registrations down sharply from Sept peak: JB Securities
July 05, 2016 (LBO) – Motor car registrations in Sri Lanka recorded 3,657 units in May, slightly down from 3,664 units in April, but significantly lower than a peak 14,544 registrations last September, data from JB Securities shows Premium cars, three wheelers, two wheelers and mini trucks, however, showed an increase in May over April. […]
Sri Lanka tourist arrivals up 2.2-pct in June 2016
Jul 05, 2016 (LBO) – Sri Lanka’s tourist arrivals grew just 2.2 percent to 118,038 in June 2016 from a year earlier, with arrivals from India and China continuing their upward trend, government data showed on Monday. In the six months to June total tourist arrivals grew 16.2 percent to 964,267. Total arrivals hit a high […]
Consumer authority conducts over 10,000 raids, collects Rs48mn fines
July 04, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority has conducted more than 10,000 raids in the first half of this year, latest data showed. As per the data submitted by Ministry of Industry and Commerce for July 2016, the authority has conducted 10,146 raids from January to June this year showing a marginal decline […]