Category: Industry
Sri Lanka vehicle registrations down in April except for Cars and SUVs
May 24, 2016 (LBO) – Sri Lanka’s vehicle registrations except for Cars, SUVs and 3 wheelers were down last month due to April being a holiday month, JB Securities said in a research note. Motor car registrations recorded 3,618 units in April up from 3,326 units a month ago and significantly down from 5,116 units […]
EOIs called for geophysical surveys off Mannar, Cauvery Sri Lanka
May 23, 2016 (LBO) – Sri Lanka has called for expressions of interest from geophysical exploration companies to conduct gravity, gradiometry and magnetic surveys over the offshore Mannar and Cauvery basins of Sri Lanka. The Petroleum Resources Development Secretariat (PRDS) is seeking further data to strengthen its database of geophysical information on upstream petroleum sites […]
Sri Lanka reinsures uninsured citizens, property for natural disasters
May 20, 2016 (LBO) – Sri Lankan government sponsored National Insurance Trust Fund has insured all uninsured Sri Lankan citizens and uninsured properties by obtaining a catastrophic reinsurance cover of up to 10 billion rupees. The cover has been obtained from major reinsurance companies in London and other parts of the world, through Crescent Global […]
Sri Lanka benefits from increased trade with India: OBG
May 20, 2016 (LBO) – Sri Lanka stands to benefit from efforts to strengthen economic cooperation with India particularly with a rebalancing of foreign policy, Oxford Business Group said. With talks around an expanding free trade agreement (FTA) in the works, momentum appears to be on Sri Lanka’s side. Full article is below: Thanks to […]
Private firm to build 10 Mw solar power plant in Vavuniya
May 20, 2016 (LBO) – Sri Lanka’s cabinet has decided to lease a 22 hectare state land in Nedun Kulam, Vavuniya to a private firm to build a 10 Mw solar power plant. The BOI approved Vydexa (Lanka) Power Corporation is to invest 14.5 million US dollars for the project and it would add 19 […]
Sri Lanka opts for LNG plant over coal in Sampur: Petroleum Minister
COLOMBO (Reuters) – Sri Lanka will cancel plans for a 500 megawatt Indian-built coal-fired power plant at its strategic eastern port city of Trincomalee and will instead opt for a liquefied natural gas (LNG) power plant, a cabinet minister said late on Tuesday. Chandima Weerakkody, Sri Lanka’s petroleum minister, said President Maithripala Sirisena told Indian […]
SriLankan Airlines unveils oneworld priority signage at Colombo and Male Airports
SriLankan Airlines has unveiled oneworld priority signage at its Colombo hub, Bandaranaike International Airport and Male, its extended home market. The new signage aims to provide the alliance’s top tier, frequent flyers a comprehensive and clear idea on the alliance’s benefits throughout the travel process – check-in, airport fast tracks, lounges and boarding.The oneworld priority […]
SriLankan Aviation College takes airline training to Jaffna, Batticaloa, Galle and Kurunegala
The SriLankan Aviation College has appointed Nawaloka Air Services as its franchise partner to expand airline training to four provinces, providing invaluable opportunities for young Sri Lankans in the Northern, Southern, Eastern and Northwestern Provinces to embark upon rewarding careers in the global air transport and hospitality industries. The franchise agreement was signed on 5th […]
Textured Jersey closes 2015/16 on YTD net profit of Rs. 2.1bn, 63-pct growth
May 19, 2016 (LBO) – Sri Lanka’s TJL Group (TJ), a knit fabric manufacturer said its year to date net profit was 2,172 million rupees while the revenue recorded was 17.8 billion rupees, a 30 percent increase. “The boost in profits can be directly attributed to the synergy from acquisitions,stringent cost control initiatives,cutting edge Innovations, and […]
London Stock Exchange shifts shared services to Sri Lanka; hiring staff
May 19, 2016 (LBO) – International markets infrastructure provider London Stock Exchange Group will hire up to 400 highly skilled Sri Lankans as it has decided to shift part of its technology and business functions here. The new company to be formed under the name of London Stock Exchange Business Services Colombo limited is currently […]
‘s mobile ambitions, return of Nokia
May 19, 2016 (LBO) – The demise of Microsoft’s mobile phone ambitions is on the cards with the company selling its feature phone business to a Foxconn subsidiary. Microsoft is licensing the Nokia name for handsets back to Nokia, which has set up a new company that will make feature phones, Android-based smartphones, and tablets. […]
SriLankan Cargo says record set exceeding designed capacity
May 18, 2016 (LBO) – SriLankan Cargo, the freight handling arm of state-owned SriLankan Airlines has set a record for the amount of tonnage handled during a single month reporting, 21,743 metric tonnes in March at BIA. SriLankan Airlines said the figure has surpassed the previous highest amount of 20,040 tonnes, achieved a year ago […]