Category: Industry
‘s Kunyoung launches in Sri Lanka, eyes construction
Jan 20, 2016 (LBO) – Kunyoung Engineering and Construction Co launched in Sri Lanka on Tuesday increasing the number of Korean companies taking an interest in the island’s growth prospects. Company officials said they were interested in Megapolis development plans which included the Colombo Port City, and would bid for future contracts. “The entry of […]
People without access to digital technology will be left behind: World bank
Jan 19, 2016 (LBO) – Greater effort must be made to connect more people to the internet and to create an environment that unleashes the benefits of digital technologies, a World Bank report says. The spread of digital technologies over the last two decades has been rapid but the hoped-for benefits of greater productivity, more […]
Sri Lanka’s electricity pricing to be made more transparent: PUCSL
Jan 19, 2016 (LBO) – Sri Lanka’s energy sector will be introducing more transparent electricity tariffs in the future, the Director General of the Public Utilities Commission said. “With the introduction of the regulatory accounting system as well as elaborating more on the submission of data for tariffs we are going to make the electricity […]
‘s Krrish Group’s controversial Colombo project to recommence: BOI
Jan 19, 2016 (LBO) – Sri Lanka’s government is planning to sign a new agreement with India’s Krrish Group to restart its long delayed and controversial project in Colombo, a senior official said. “We are negotiating with Krrish and hope to finalize a new agreement very soon,” Duminda Ariyasinghe, Director General of Sri Lanka’s Board […]
Sri Lanka Telco outlook improves with new budget: Fitch
Jan 18, 2016 (LBO) – Fitch Ratings has revised the outlook on Sri Lanka’s telco sector to stable from negative as the new budget, introduced in December 2015, has scrapped the recurring taxes which could have diluted the industry’s EBITDA margin by an average of 6 – 7 percent. “We believe that Sri Lanka Telecom’s and […]
Sri Lanka targets USD5 bn FDI in next three years, Malik to visit China
Jan 18, 2016 (LBO) – Sri Lanka is targeting five billion US dollars worth of foreign direct investments (FDI) in the next three years, Minister of Development Strategies and International Trade said. “We are targeting 5-6 billion US dollars in FDI the next three and I am quite optimistic that we will get there,” Malik […]
Internet Explorer terminates support for older versions
Jan 16, 2016 (LBO) – Microsoft’s built-in search tool ‘Internet Explorer’ has discontinued its support for older versions of explorer from January 12, 2016. “End of support means there will be no more security updates, non-security updates, free or paid assisted support options, or online technical content updates.” Microsoft said. As per Microsoft, only the […]
Transport ministry calls local bids to repair railway coaches
Jan 14, 2016 (LBO) – Sri Lanka’s Cabinet has decided to call competitive bids from local industrialists to undertake heavy repairs of railway passenger coaches. As per the Railways Department, around 450 carriages are required to provide transport services and these carriages must undergo heavy repair every two years. Though it is being done in […]
Manning Market to relocate, area for transportation facilities
Jan 14, 2016 (LBO) – The Cabinet has decided to relocate the Manning Market from Colombo port to Peliyagoda area and utilize the premises for public transportation facilities. Colombo, Fort areas have been recognized as a combined development zone under the Colombo City Development Plan (2008-2020) prepared by the Urban Development Authority. Accordingly, it is […]
Uber launches new budget version in Sri Lanka
Jan 14, 2016 (LBO) – Uber, a global ride sharing company in over 340 cities in 60 countries, launched its more economical version, UberGO in Colombo, Thursday. UberGO operates with smaller hatchback vehicles like Suzuki Altos and Tata Nanos and is the second product option after uberX and is more economical, a statement said. “We are […]
Colombo port container handling up 5.7-pct in 2015
Jan 14, 2016 (LBO) – Sri Lanka Ports Authority says container operations in the Colombo port has increased by 5.7 percent last year over the previous year. Accordingly, the total amount of containers handled by the port last year is 5,185,467 compared to the 4,907,915 containers handled in 2014. Total container volume comprises of import, […]
Sri Lanka tourism poised for strong growth: JLL
Jan 14, 2016 (LBO) – Sri Lanka is on the brink of a strong reform agenda and transformational change that could pave the way for inclusive and balanced growth, JLL said in a research report focusing on the tourism sector. For the hospitality industry, this means aiming for 2.2 million tourists, up from 1.8 million […]