Category: Industry
Safety of life at sea amendment from July, says European Chamber of Commerce
Jan 28, 2016 (LBO) – The International Maritime Organization’s amendment to the Safety of Life at Sea (SOLAS) agreement will come in to effect globally on July 1, 2016, which Sri Lankan authorities and shippers will need to follow, the European Chamber of Commerce in Sri Lanka said in a white paper. This amendment stipulates […]
Janashakthi – National Civilian Bravery Awards
Janashakthi Insurance PLC, a leading Insurance provider in Sri Lanka, announced its partnership with the Foundation of Civilian Bravery Sri Lanka for the ‘Janashakthi – National Civilian Bravery Awards’ to recognize civilians who voluntarily risk their lives while saving, or attempting to save others from peril. The Foundation of Civilian Bravery Sri Lanka believes that […]
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
IRCON plans to assist Sri Lanka Railway future projects
Jan 28, 2016 (LBO) – Indian government backed IRCON International has expressed its willingness to assist Sri Lanka’s railway development in line with the priorities of the transport sector, a company official said.Commemorating their 7 year presence in Sri Lanka, Project Director S L Gupta told reporters Wednesday that the timely completion of their projects […]
Emirates to increase daily flights to Colombo
Jan 27, 2016 (LBO) – Emirates, a Middle-Eastern airline, said that they would be adding an additional daily flight to Sri Lanka between Dubai and Colombo. The new flight will be effective from 1 August 2016. Emirates will operate five daily flights between Dubai and Colombo every day except Wednesdays when it will operate four […]
EU Export Helpdesk provides support for exporters
Jan 27, 2016 (LBO) – The various conditions for exports to the European Union can be referred through the online EU Export Helpdesk, a European Commission official said at the recently held EU-SL Trade seminar. The site provides conditions for products exported to the EU such as health, technical standards and marketing standards as well […]
Aitken Spence Resorts to buy Al Falaj Hotel for USD36.4 mln
Jan 27, 2016 (LBO) – Oman Hotels and Tourism Co said on Monday its shareholders have unanimously approved the RO14mn (USD 36.3 million) sale of Al Falaj Hotel to Aitken Spence Resorts (Middle East). An extraordinary general meeting (EGM), held on Sunday, decided to sell the ‘assets and business’ of the hotel, Oman Hotels and […]
Sri Lanka commercial property demand will expand with FDI: Regus
Jan 27, 2016 (LBO) – Sri Lanka’s commercial property market will see a rise in demand as local firms expand their businesses and foreign firms start setting up in the island, a global work-space provider said. “There is huge demand for the commercial property in post war Sri Lanka and in the last 12 months the […]
Sri Lankans forecasts positive growth of local real estate market in 2016
Jan 26, 2016 (LBO) – A new survey has revealed that 41 percent of Sri Lankans believe that demand for houses will increase in the next 12 months. According to a newly-released report from Lamudi Sri Lanka, over 50 percent of respondents expect demand for both affordable and luxury apartments to grow this year. The […]
Sri Lanka ranks 14 on global offshoring index 2016
Jan 25, 2015 (LBO) – With many domestic and international companies investing heavily on the local IT/BPO and BPM offshoring industry thanks to its commercial attractiveness, access to skilled talent and a lucrative business environment coupled with the improving technology infrastructure, Sri Lanka now ranks in the 14th position on the 2016 A.T. Kearney Global […]
Sri Lanka, main destination for used cars from Japan
Jan 25, 2016 (LBO) – Sri Lanka has set a record as the number one destination for used car exports from Japan in terms of value last year, JB Securities said in a research note. “The main reason for the heightened demand for this category of vehicles was aggressive credit extension from commercial banks,” JB […]
Proposals to be called for Hambantota Port Industrial Zone
Jan 25, 2015 (LBO) – Sri Lanka’s government plans to call for proposals to set up industries in the Hambantota Port’s Industrial Zone under the Hambantota Port Development Project, the Information Department said. Sri Lanka Ports Authority has prepared the business plan in order to identify the business ventures that could be undertaken under the […]