Category: Industry
Sri Lanka’s Seylan Bank to raise Rs5bn in listed debt
June 28, 2016 (LBO) – Sri Lanka’s listed Seylan Bank is planning to raise as much as 5 billion rupees from a sale of debenture which will be quoted on the Colombo Stock Exchange. The stock exchange said the company wanted to sell 30 million debentures at 100 rupees each with an option to issue […]
Sri Lanka’s Lion Brewery falls below minimum public holding
June 28, 2016 (LBO) – The minimum public holding of Sri Lanka’s Lion Brewery has fallen below the stipulated float making it obligatory for the company to make an announcement. As per the minimum public holding rules, there are two ways to get listed on the main board of the Colombo Stock Exchange. One option […]
Secretariat for NGOs asks microfinance firms to register
June 28, 2016 (LBO) – National secretariat for non governmental organizations has asked micro finance institutions that operate in the island to promptly register with them as per the newly enacted legislation. The microfinance act no 6 of 2016 requires all institutions that carry out micro finance and micro credit operations to register with the […]
India in USD27 bln quest for oil as projects restart
June 28, 2016 (LBO) – India is offering global oilfield service providers a 27 billion dollar lifeline as the government aims to cut fuel imports. Stalled projects are restarting after the government in March announced pricing freedom for natural gas from deepsea fields that begin production this year, Bloomberg reports. With a halving of cost […]
Commercial Bank launches Sri Lanka’s first Remittance Card
Sri Lanka’s first Remittance Card has been launched by the Commercial Bank of Ceylon to introduce a new dimension in convenience to the process of transferring funds from overseas to local beneficiaries. A branded Debit cum ATM Card licensed by Visa Inc. and issued locally by Commercial Bank to recipients of remittances, the new Remittance […]
SriLankan Airlines to suspend Paris, Frankfurt flights in restructuring
June 27, 2016 (LBO) – The national carrier SriLankan Airlines on Monday said it will be suspending its operations to Paris and Frankfurt from winter 2016 as part of its restructuring plan. Accordingly, the last flights between Frankfurt and Colombo on UL 553/554 will be operated on October 30, while UL 563/564 of November 6, […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]
Huawei’s flagship P9 unveils in Sri Lanka
June 25, 2016 (LBO) – Huawei, one of the fastest growing smartphones in Sri Lanka, yesterday unveiled their flagship smartphone Huawei P9 at a vivid ceremony. Huawei’s partnership with German firm Leica has created a smartphone with a groundbreaking dual-lens camera that can shoot vivid color and crisp black-and-white to produce images with greater depth […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
Sri Lanka’s Finance Ministry calls proposals to amend customs ordinance
June 24, 2016 (LBO) – The Finance Ministry will amend the 150-year old Sri Lanka customs ordinance with a view to absorb modern industrial trends in the current global market. The ministry said this will enable Sri Lanka to update the prevailing import mechanism and, minimize current trade irregularities. The government anticipates obtaining the views […]
IATA recognizes Louis Preston training centre in South Asia
IATA recognizes LOUIS PRESTON as “Top Performing Training Centre 2016” in South Asia Press Release: IATA (International Air Transport Association), the trade association for 260 member airlines and sole representative for more that 100,000 IATA Accredited travel agents worldwide has been developing and inventing innovative tailor-made various training programs for the human capital in the […]
‘s Royal Turf Club unveils plans for next racing season
June 23, 2016 (LBO) – Sri Lanka’s Royal Turf Club (RTC) has several plans to popularize horse racing and the next racing season in Nuwara Eliya, with a Hollywood star expected at the first charity race, officials said. The next Nuwara Eliya racing season will commence on August 6th, with horses racing every two weeks […]