Category: Industry
Minister Hakeem to visit Turkey seeking Sri Lanka tea expansion
Feb 03, 2016 (LBO) – Sri Lanka Muslim Congress Leader and City Planning Minister Rauff Hakeem will undertake a week-long official visit to Turkey as part of the Prime Minister’s initiative to expand the market for Sri Lankan tea. Minister Hakeem is on a mission to explore the possibility of increasing the volume of tea […]
‘s most valuable company
Feb 02, 2016 (LBO) – Google’s parent company, Alphabet has reported fourth quarter earnings driving up the company’s shares by over 8 percent, foreign media reported. Alphabet shares jumped after the strong earnings report, making Google worth roughly 544 billion US dollars though Apple’s market capitalization stood at 534 billion US dollars. That has made […]
Korea Eximbank to provide feasibility study for tunnel in Kandy
The Road Development Authority (RDA) of Sri Lanka and the Export-Import Bank of Korea (Korea Eximbank) will collaborate to explore durable solutions to ease the traffic woes that have plagued Kandy for the past decade. For all the tranquility that the Kandy city offers its residents and tourists alike, its central business district has been […]
Sri Lanka-India power link pre-feasibility complete: Kumarasinghe
Feb 02, 2016 (LBO) – Pre-feasibility studies for Sri Lanka India HVDC transformation link have already been done in collaboration with power grid India and CEB, a senior official said. “There is a big opportunity here,” Damitha Kumarasinghe, director general of Public Utilities Commission of Sri Lanka said. “Now India is connected to Bangladesh, Nepal, […]
Sri Lanka opens Consulate General Office in Milan, Italy
Feb 01, 2016 (LBO) – The Government has opened a Consulate General Office in Milan, Italy with effect from today, to serve the Country’s large expatriate community there. The Sri Lankan community in Milan, is one of the largest in Northern Italy. Milan is Italy’s second leading city with a metropolitan population of 1.3 million […]
Google loon to start testing in Sri Lanka this month
Feb 01, 2016 (LBO) – Project Loon from Google x is to launch its preliminary testing in Sri Lanka this month, Managing Director of ICTA, Muhunthan Canagey said. As per the initial agreement, the maximum test period will be one year and based on the test results a fully fledged agreement is to be signed. […]
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 […]