Category: Industry
Uga Escapes, unveils Chena Huts
Uga Escapes consolidated its position in the leisure industry this month by unveiling its newest addition to its range of luxury boutique hotels, Chena Huts, a chic hideaway nestled deep within Yala constructed with an investment of Rs. 800 million. The luxury boutique hotel is located on a seven-acre expanse of land and comprises 14 […]
Ministers should use social media for engagement: CPA media survey
Feb 01, 2016 (LBO) – A new media survey by the Centre for Policy Alternatives (CPA) reveals that government Ministers should utilize social media tools to keep in touch with the general public. “42.2 percent of respondents believe that it is necessary for Government Ministers to use social media to interact with the public, while […]
IBM acquires Ustream to boost cloud based video services
Feb 01, 2016 (LBO) – IBM has acquired a cloud-based video streaming service Ustream, to extend its cloud platform to unlock the value of video, a rapidly-evolving digital media. Ustream streams live and on-demand video to about 80 million viewers per month for customers such as NASA, Samsung, Facebook, Nike and The Discovery Channel. With […]
Janashakthi Insurance completes amalgamation with AIA general
Jan 31, 2016 (LBO) Sri Lanka’s Janashakthi Insurance said it has now successfully completed the amalgamation process of Janashakthi General Insurance and AIA General Insurance Lanka. The company acquired the latter for a sum of 3.2 billion rupees in October 2015. “The acquisition of AIA General Insurance Lanka Limited marked a significant step in our […]
Vietnam can access South Asian markets through Sri Lanka: Harsha
Jan 31, 2016 (LBO) – Sri Lanka’s Deputy Minister of Foreign Affairs said the island intends to strengthen and forge stronger economic links with Vietnam while the nation could enter the South Asian market through investments here. “More and more Vietnamese business ventures could explore the potential of Sri Lanka’s business and market environment where […]
Sri Lanka unveils Megapolis plan
Jan 29, 2016 (LBO) – Sri Lanka’s Western Region Megapolis plan was unveiled with handing over of the plan ceremoniously to the President and Prime Minister at a special function in Colombo, Friday. Minister Patali Champika Ranawaka said the project will take Sri Lanka across the world as a developing nation. “This is the first […]
Graham Ford rejoins Sri Lanka Cricket as Head Coach
Jan 29, 2016 (LBO) – Sri Lanka Cricket has announced that Graham Ford will rejoin Sri Lanka Cricket as the Head Coach from next month. Sri Lanka Cricket in the past few weeks embarked on a significant initiative to secure a professional coach to serve the National Team. “As per the vision of the newly […]
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Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds at ‘BB-. KEY RATING DRIVERS The national carrier’s bonds are rated at the same level as SLA’s parent, the state of Sri Lanka, due to the unconditional and irrevocable guarantee of principal and interest of the notes provided by […]
Sri Lanka to use new tool to assess future electricity demand
Jan 29, 2016 (LBO) – Island’s electricity regulator, the Public Utilities Commission is to adopt an internationally accepted tool to review the forecasted electricity demand in Sri Lanka. The tool named as MAED (Model for Analysis of Energy Demand) has been developed by International Atomic Energy Agency and offered free of charge to the commission. […]
Government to start relocating Manning Market from tomorrow
Jan 29, 2016 (LBO) – Megapolis and Western Development Minister Champika Ranawaka launching the Megapolis plan on Friday said the government will start relocating Manning Market from tomorrow as part of the Megapolis plan. Two weeks ago the Cabinet decided to relocate the Manning Market to Peliyagoda area and utilize the premises for public transportation […]
USD100mn capital infusion into ETI Finance approved
Jan 29, 2016 (LBO) – The Central Bank has approved a proposal to infuse 100 million US dollars into the share capital of ETI Finance, Swarnamahal Financial Services said in a stock exchange filing. This capital injection reportedly from institutional investors from Australia is mandated to be completed by 28 February 2016. ETI Finance is […]
”s Bharti Airtel to merge subsidiaries in Bangladesh
Jan 28, 2016 (LBO) – Axiata Group Bhd, Malaysia’s largest mobile operator by market value, and Bharti Airtel Ltd, India’s largest telecom operator by subscribers, agreed to merge their subsidiaries in Bangladesh, said Axiata on Thursday. The merger of Robi Axiata Limited and Airtel Bangladesh Limited, components of the respective companies, will create an entity […]